Bitcoin (BTC) is a digital currency that operates in a decentralized manner, allowing you to buy, sell, and exchange directly without involving a bank or intermediary. Its creator, Satoshi Nakamoto, envisioned a payment system based on cryptographic proof instead of relying on trust.
Bitcoin revolutionized the payment landscape, making cryptocurrencies widely popular. Without Bitcoin, cryptocurrencies wouldn’t have reached the current level of success. In 2021, Bitcoin surpassed a market cap of 1 trillion dollars.
Dubai, UAE, is emerging as a central hub for cryptocurrencies. People from around the world are relocating to Dubai to work in this groundbreaking industry, benefiting from the convenience of spending cryptocurrencies and establishing their businesses in this realm.
A significant concern in Dubai is how to convert BTC to AED when you want to buy Bitcoin in Dubai for such transactions. As individuals engage in the “Web3” industry, which represents the new generation of the internet, they receive payments in various cryptocurrencies, with BTC being the most prevalent.
There are several methods to exchange Bitcoin for AED, including OTC (over-the-counter) exchanges, centralized crypto exchanges (CEXs), and decentralized crypto exchanges (DEXs). In Dubai, the most commonly used method is OTC exchanges for converting BTC to AED.
In 2022, various events unfolded, shaking trust in centralized crypto exchanges. Within just two events, the collapse of $LUNA and $USTC, as well as the downfall of the third-largest CEX, FTX, people lost over 50 billion dollars. As a result, individuals are now more cautious than ever. In Dubai, crypto enthusiasts are actively seeking secure BTC to AED conversion options.
Now, let’s delve into the highly regarded and dependable method for converting BTC to AED in Dubai, which involves utilizing an OTC exchange. This blog will also provide insights into the crypto exchange and the process to convert BTC to AED.
Complete Process To Convert BTC to AED
To perform these transactions, a medium known as exchanges is required. In Dubai, there are secure methods known as over-the-counter (OTC) exchanges. An OTC exchange is a type of exchange where you physically visit a proper office location. Now, let’s delve into the steps to follow:
Find a Local Cryptocurrency Exchange
Centralized exchanges dominate in trading volume, but they come with several attached risks. On the other hand, decentralized exchanges do not offer feeless transactions since they execute trades directly on the blockchain.
That’s why the safest method for cryptocurrency conversion in UAE is to use the OTC method. Dubai has several OTC exchanges available for converting BTC to AED, but CryptoDesk has emerged as the top choice. With an incredible team and a forward-looking CEO, CryptoDesk leads in its category, facilitating exchanges of millions of dollars every month.
CryptoDesk dominates the market by providing educational content and making crypto trading easier through platforms like TikTok and other social media channels. They add a fun element to crypto conversion to AED.
Dealing with CryptoDesk is a simple process, which we will discuss in the following steps:
Check the live rates for BTC to AED
CryptoDesk has a highly useful website that facilitates booking appointments for office visits. The website also features over 600 live cryptocurrency exchange rates with AED. This functionality proves very helpful as you can simply search for your desired cryptocurrency in the search bar and enter the number of coins you wish to convert.
The same box will then display the corresponding AED amount you will receive upon converting your coins. Given that the majority of users are seeking to convert BTC to AED, the exchange boxes for BTC are prominently displayed on the landing page when you check the live exchange rates.
Visit the office
When you book an appointment through the website to convert BTC to AED using WhatsApp or Telegram, you will receive notifications regarding your visit dates. The entire process takes only a few minutes, regardless of the size of your transaction.
CryptoDesk has its office strategically located in downtown Dubai, which happens to be the hottest location in the city. This makes it incredibly convenient to visit and conduct your business. Upon arrival, a receptionist will be waiting to assist you, and the overall ambiance of the office is excellent.
Transfer BTC
To complete your deal, you can utilize the prevailing BTC to AED conversion rate for that day. As part of the process, you will receive a dedicated wallet address. Simply transfer your BTC to the provided address, and the knowledgeable team at CryptoDesk will handle all the necessary steps to ensure a smooth conversion.
Get cash
Now, there are two methods available for obtaining your cash: hard cash or bank transfers. CryptoDesk prioritizes user experience, offering both options. Regardless of which method you choose, the entire process will be completed within a few minutes, ensuring you receive either cash or a bank transfer in exchange for your Bitcoin.
Conclusion
Bitcoin trades are reaching tens of billions of dollars every day, primarily due to businesses conducting transactions using BTC. Employees are increasingly being paid in BTC, making Bitcoin one of the most widely used payment methods worldwide.
With the rising adoption of BTC in Dubai and the significant influx of crypto companies and web3 enthusiasts, Dubai must cater to their needs by offering safe, secure, and fast options to convert BTC to AED. This is where CryptoDesk plays a crucial role, dedicating their efforts to simplifying the trading of various cryptocurrencies while offering highly appealing exchange rates.
CryptoDesk’s success stems from its commitment to maintaining customer trust and delivering timely, high-quality services. Additionally, CryptoDesk assists newcomers in understanding the OTC exchange process through their active presence on social media channels.
