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Today we will provide you an easy 6 step guide on How to Buy Ethereum in UAE and all of its Emirates, This guide will work in all over Middle East.
However another giant in the cryptoworld that can’t be overlook is Ethereum, another blockchain platform, with a coin called ether that has been rivalling bitcoins for the longest time running, and has been praised as the digital currency with the most sophisticated technology in existence. ETH, short for Ethers, is the abbreviation for the coin used commonly on exchanges and amongst traders. So what is this Ethereum that everyone is talking about, and what makes it so special?
Ethereum is not just another currency as many think, but rather a complete platform featuring its own technology that incorporates smart contracts with greater security than bitcoins, the ethereum virtual machine (EVM), and overall a faster blockchain technology backed currency called ether that is verified in a similar but more efficient decentralized manner as compared to Bitcoin.
Ethereum was founded by Vitalik Buterin and his team formally in 2014, however it was mentioned earlier in late 2013 in a Bitcoin magazine. Ever since, Ethereum has gained popularity in the crypto scene and has hurled across all obstacles and milestones that took other technologies much longer to cross.
In the first few days of 2018, ETH passed the $1,000 mark, putting it at the third position in terms of the largest market caps.
The next question is of course, how do we buy this damn Ethereum and hop on the money bandwagon? The following is a step-by-step guide on the simplest and most cost effective manner of how to buy ethereum in Dubai, UAE and the Gulf region & Middle East as a whole. In this article we show you how to buy ether through BitOasis, however another exchange is also Changelly that offers direct purchases for bitcoin and several other cryptos.
First of all, you will need to sign in to your BitOasis account, for more information on how to set up your account and receive verification, go to our “Buying Bitcoin and BitOasis Verification Process Article”.
- First step is to deposit some money into your BitOasis account by buying a voucher.
- Head over to the ‘Buy Bitcoin’ tab on the left, and put in the voucher amount you would like to deposit, then
choose credit/debit card for instant deposits or online moneytransfer for cheaper deposits that can however take 2 or more days.
- After your account successfully reflects the voucher deposit, head over to the trading exchange tab on the left, or the “Ethereum is now available…” ad on the bottom.
- Here you will face a page with live prices and second-by-second trades happening on the trading exchange platform for BitOasis.
- Switch to the ETH-AED page from the top left button to start buying your Ethereum.
- The next part is tricky, you will have to insert the number of Ethers you would like to buy manually. Calculate the rough amount of Ethers your deposit can buy you by looking at the spot price, and then play with the decimals at the end to round it up close to your voucher value as the spot price is volatile and keeps constantly changing by the second.
Congratulations! Now you have successfully purchased Ethereum or Ethers (ETH) and now you can start HODLing (head over to our online crypto lingo page to find out what that means ?) or transfer it to Binance or Bittrex to trade it for other Altcoins. Follow the link for a guide on How to Buy Altcoins on Binance with Ethereum. Wish you a prosperous investment/trading journey!