Multinational bitcoin exchange igot will today launch the first bitcoin exchange in the United Arab Emirates (UAE), to capitalize on the unique opportunity posed by the market.The Australia-based company's founder Rick Day told CoinDesk the new exchange will operate with a Commercial Brokerage License, approved by the local government.It has also secured local banking partners for direct deposits and withdrawals in UAE dirhams (AED).Igot has hired a small team for business development and customer support for its Dubai office.Day added that igot will continue to offer the same flat 1% trading fee to all its customers worldwide, with no additional fees for deposits or withdrawals in either bitcoin or fiat currencies.The exchange is aimed more at consumers than professional traders, with a simple buy-sell interface.However, it recently implemented a feature called 'Future Trade' which functions like limit orders on a more advanced exchange, giving customers the option to set their price and wait for bitcoin's value to rise or fall to that level before executing the trade.

As well as bank access, igot is also working with local payment processors to give users more options in the coming months.As well as having a concentration of high net-worth individuals among its citizens, about 60% of the UAE's workforce consists of expat Indian workers, both professional and manual, who often send their money back home.In fact, foreign citizens make up a staggering 91% of the UAE's population of 9.2 million, with 1 million Indians representing the country's largest overall group.Day said that, given that India is currently igot's largest market outside Australia, its presence in the UAE puts the company in a very interesting position."Our strategy to expand igot is based on a pairing system.India is one of our best performing markets.In terms of trade volumes, I think we're the biggest local exchange there.Indians sent $70bn home in 2012."Igot will also target UAE's wealthy native population, as well as its institutional investors, all of whom have a diverse investment portfolio.

The UAE economy is the second largest in the Arab world.For a country now famous as a world hub for capitalism and rapid development, the UAE has seen relatively little action on the bitcoin front.So far, news has been limited to one pioneering pizzeria and a startup, Umbrellab, which offers payment solutions including bitcoin and was reportedly trying to integrate bitcoin ATM functions into Dubai's existing payment kiosk network.bitcoin polska facebookIgot's Day said forming banking relationships was never easy, but the company was able to use its established banking track record in Australia, New Zealand and India to state its case with UAE bankers.курс bitcoin wmzHeadquartered in Adelaide, Australia, igot has always had plans for expansion into the potentially lucrative markets of Asia and the Middle East.evga bitcoin

Day said the company had processed more than $25m worth of trades in the seven months since it launched.Users executed over 10,000 trades via the Future Trades feature, a number that spiked during the bitcoin price volatility of the past few weeks.It also has a $15 friend-referral scheme and has implemented Jumio Inc's BISON ID verification system, which has seen the company's fraud rate drop by 93.29%.durch bitcoin reich werdenIgot uses the same homepage and interface internationally, but users can connect directly to bank accounts in Australia, India, UAE, Hong Kong, Singapore and New Zealand.bitcoin bubble will burstThere is also the option to use other international bank accounts via the SWIFT network.dogecoin to dollarsOla Doudin, a female Jordanian entrepreneur, has launched a bitcoin wallet and exchange, BitOasis, in Dubai, after having difficulty finding any place to buy bitcoin in the region, according to The National Business in the United Arab Emirates.bitcoin atm england

BitOasis plans to be the first bitcoin company in the Middle Eastern and North Africa (MENA) region to be registered in a major technology center in the region, according to its website.The wallet service is available in the Middle East, North Africa and Asia.Users in Saudi Arabia, the UAE, Kuwait, Qatar and Bahrain can also use the exchange service by sending money to a BitOasis bank account and exchange it for bitcoins for a 1% fee.bitcoin a fatal error occuredBitOasis offers users multi-signature wallet security, according to its website.washington bitcoin farmDoudin moved back to Jordan after leaving her job in London’s finance industry following the 2008 global financial crash.She moved back to Jordan just as the Arab Spring uprisings were sweeping the region.In 2013, she read about bitcoin and became intrigued.She spent months reading about digital currency on Reddit and in scientific journals and began connecting with bitcoin enthusiasts on Twitter.

However, she could not find anyone to buy bitcoin from in Jordan, Lebanon or the UAE.She ended up buying bitcoin from a connection she made in Canada.She bought the bitcoin by sending the Canadian source money via PayPal.Doudin believed that bitcoin represented the future of banking and financial services.She believed it changes how Visa and SWIFT can function, and even the very concept of currency.She joined Bitcoin meetup groups in Dubai and Amman.She met Daniel Robenek, a Czech software engineer, who worked with her on a platform to allow Middle Eastern users to safely buy and store bitcoins.Also read: Fintech makes waves in cash-based, largely-unbanked Jordan BitOasis launched in Dubai in late 2014.It secured seed funding from Wamda Capital and others in 2015.Doudin said there is a large bitcoin user base in Egypt and Morocco.Users in those countries pay small amounts of money on a frequent basis for cloud services, virtual private networks and gaming.Such payments can be prohibitively expensive via credit card or bank transfer.