Over the past few years, Cryptocurrencies & digital assets have attracted the eyeballs of investors around the world, with many considering them a sufficient alternative to traditional investments.
The country, the United Arab Emirates(UAE) and Dubai in particular, has become a darling of the crypto world. With its progressive regulatory environment and a world-class technological ecosystem that meets the requirements of international businesses, hundreds of crypto-related organizations and some of the world’s leading exchanges have made Dubai their home. In this article, we will discuss why Dubai is the perfect location to trade cryptocurrencies.
- Tax-Free Trading – One of the main benefits of trading your crypto in Dubai is tax-free trading. The government of UAE doesn’t impose any tax on crypto investments or profits, making it a perfect location for investors to maximize their profits. Investors can freely invest & trade their crypto in Dubai without needing to worry about taxation.
- Safety and Security – Dubai is home to several global crypto exchanges, that are known for their top-notch safety & security measures, which makes Dubai the safest location on earth to keep & trade your crypto. Additionally, crypto-related organizations in Dubai make use of sophisticated encryption techniques, 2 Factor Authentication, and cold storage to protect investors’ crypto holdings from any harm.
- Growing Infrastructure – The cryptocurrency infrastructure ecosystem around Dubai is constantly growing & expanding, as more & more crypto organizations continue to shift their bases to the emirate. This results in traders gaining access to more liquid options as compared to any other location. High liquidity allows traders to smoothly buy, sell and trade their assets without having to worry about low liquidity issues or low-volume trades.
How to Safely Sell Your Cryptocurrency in Dubai
In recent years, Dubai has come to be known as the perfect location to sell your cryptocurrency, for the reasons discussed above. In this section, we will discuss how to sell your cryptocurrency in Dubai Safely and Securely.
- Choose a Trusted Exchange Platform – The first step in selling your cryptocurrency in Dubai is choosing a trusted exchange platform. Dubai is home to many crypto exchanges, therefore it is necessary to make your choice accordingly while keeping in mind some considerations such as transaction fees, customer service, security protocols, and liquidity. Once you have made your choice you will need to set up your account in that exchange and deposit assets for trading.
- Securing Your Funds – Once you have selected your preferred crypto exchange, it is highly important to secure your assets through 2-factor authentication. 2-factor authentication works by conforming your identity through a secret message received on your cell or email when you are in the process of taking out your assets. This adds an extra layer of security to your digital assets. It is also advised to keep your crypto assets in cold storage devices such as Ledger, Trezor, etc whenever possible to achieve maximum security.
- Select Currencies for Sale – Once you have registered and implemented 2 Factor Authentication on your account, the next process is to select the crypto that you want to sell. There are thousands of crypto assets in the market, but the most popular are Bitcoin, Ethereum, Cardano, Solana, and Litecoin.
- Make the exchange – The last step in selling your cryptocurrency in Dubai is choosing how you want to be paid back, such as through bank transfers, conversion to other crypto assets, gift cards, etc.