Cryptocurrencies get their name from the fact that they use cryptographic functions to safeguard transactions and limit the generation of new currency units. While Bitcoin was not the first cryptocurrency, it was the first to be ‘decentralized’ and was likely the most well-known.
How to Convert Cryptocurrency to Real Money/Cash?
Cryptocurrency exchanges are businesses that allow you to convert “real money” (i.e., USD, AED, etc.) into cryptocurrencies such as Bitcoin or Ethereum, and vice versa. The exchange is a website that assists you in making this transaction. However, not all transactions are created equal. To buy and sell Bitcoin in Dubai, OTC crypto trading platforms are safe and offer fast transactions with lowest exchange rates.
Things to Know Before Opting a Crypto Trading Platform
Trading platforms are websites that simplify the process of buying and selling crypto. For the service, the platform normally charges a nominal fee. OTC Trading platforms are usually the cheapest option to purchase Bitcoins or other currency, as well as they are user-friendly.
Payment methods
Some exchanges accept a wide range of payment options, while others solely accept wire transfers. Payment methods that allow buyers to request a refund, such as debit/credit cards, bank transfer or PayPal, are typically associated with higher fees.
This is done to protect the seller in the event that you decide to cancel the payment after receiving your coins. Payment methods that cannot be reversed, such as wire transfers, are frequently less expensive.
Fees
Deposit fees, transaction fees, and withdrawal fees are the three types of costs. Each fee is usually distinct and can have an impact on the total amount of money you receive.
Make sure you’re aware of every single one of them. However, when you opt for OTC crypto trading, there are no additional charges.
Exchange rate
While some exchanges have cheap fees, their exchange rates are greater than their competitors. This implies that the costs are “hidden” in the exchange rate. This is more common among brokers.
How to Buy Crypto Instantly in Dubai
Get yourself a crypto wallet. Get your coins address. Go to an exchange online or contact an OTC platform and choose the quantity of Bitcoin or other altcoins you want to purchase. Fill up your crypto address as well as your payment information. Transfer the amount and get your crypto right into your wallet.
OTC crypto exchange is a great place to buy Bitcoin, Ethereum and other crypto. If you want to buy and sell crypto and don’t need to store or deliver the coins, OTC crypto platform is arguably the simplest and cheapest alternative.
To buy and sell crypto for fiat currency, the OTC crypto trading platform provides a user-friendly and intuitive interface (USD, AED, etc.).
