9 uae exchanges to buy crypto, bitcoin & ethereum (2021)

9 uae exchanges to buy crypto, bitcoin & ethereum (2021)

This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

Rain is a crypto exchange focused on serving UAE, Saudi Arabia, Bahrain, Oman and Kuwait. They offer 24/7 support and meet all CCSS requirements as a crypto custodian and is licensed by the Central Bank of Bahrain as a Crypto Asset Brokerage.

eToro is a trading platform and crypto exchange. It supports Bitcoin, Ethereum, Litecoin, Zcash and many other coins. Deposits can be made quickly via bank transfer, SEPA, NETELLER, PayPal and more. It also offers unique features like copy trading. This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

BitOasis is a digital currency platform serving the MENA region. Customers can buy bitcoin via wire transfer or credit/debit card in the United Arab Emirates, Saudi Arabia, Oman, Kuwait, Egypt, Morocco, Jordan and Bahrain. UAE clients may also deposit funds via exchange houses.

Coinmama allows customers in almost every country to buy bitcoin. They charge a 4.9%-5.9% (depends on volume) fee on each purchase. Customers in Europe can also purchase bitcoins with SEPA transfer for a lower fee. Want to buy using Coinmama? This step-by-step guide will show you how to use Coinmama.

Paybis is a popular cryptocurrency exchange. They serve 180 countries and 48 US states and are registered with FinCEN, making them a more trusted, regulated exchange. Paybis offers incredibly high limits and super fast payouts, not to mention 5 minute ID verification and nearly perfect review scores on Trustpilot.

You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they're also private. That convenience and privacy, however, comes with a price; most ATMs have fees of 5-10%.

If you want to buy Bitcoin from an exchange local to the United Arab Emirates, BitOasis is one of the largest exchanges in the Middle East. Based in Dubai, BitOasis supports many of the largest cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.

Again, the easiest ways to buy Bitcoin in the UAE is through the cryptocurrency exchanges outlined above. Just select one based on your requirements and preferences using our guide. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be kept in mind before users select one.

Another way to buy Bitcoins in the UAE is through Bitcoin teller machines (ATMs). These ATMs allow users to instantly purchase the cryptocurrency using cash, and most of them only require a telephone number for verification, so long as you arent buying a lot of Bitcoin, they are more private than exchanges.

This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

Ethereum (ETH) has established itself as the second most popular digital currency, after Bitcoin. Its smart contract features allow unique apps to be built on top of its platform. Below you will find exchanges in United Arab Emirates that allow you to buy ethereum. Once you buy, you should withdrawal your ETH directly to your own crypto wallet.

Thanks to Tesla founder Elon Musk, Dogecoin (DOGE)a coin that started as a meme about the shiba inu doghas recently become a popular digital currency. Below you can find crypto exchanges in Canada that allow you purchase Dogecoin.

About Dogecoin: Dogecoin has become one of the most famous altcoin blockchains. Dogecoin was founded by Jackson Palmer and Billy Markus on December 6, 2013. Thanks to its popularity on Robinhood, it hit an all time high of $0.42 on April 20. Doge started the year at under $0.01 USD. It is an open source blockchain, meaning its code is publicly available for anyone to see.

Litecoin (LTC) is one of largest cryptocurrencies by market cap. Below you can find a list of brokerages in United Arab Emirates that allow you to buy litecoin and other crypto assets for good exchange rates.

One longtime fraudster - 50 year old Renwick Haddow of the UK - scammed 150 UAE residents and many hundreds more around the world with his company Bar Works. The company offered investors the chance to purchase a desk at one of their locations - former bars and restaurants converted to office spaces - for $25,000. The desk could then be leased back to Bar Works for a promised annual return of 14%.

Not bomb-proof enough, however, to collapse in the end, as Ponzis tend to do. In April 2017, the company announced that it was experiencing "difficulties with its banking facilities," and the following month investors were told that their monthly payments would be delayed due to "constructive restructuring."

Bar Works' CEO Renwick Haddow - whom the company claimed was just an advisor - was arrested after attempting to enter Morocco with an active Interpol warrant out in his name. He was then extradited to the U.S., where he faces multiple 20 year sentences.

Closer to home, a Pakistani-born Canadian man was arrested in October 2019 in Dubai after perpetrating a number of scams such as the International Success Group (ISG) as well as a cryptocurrency called Habibi Coin. Police were alerted after a UAE resident reported losing $150,000 in one of Com Mirza's business endeavors.

Gulf News had previously published a profile of the flashy Aziz Com Mirza - who lived in the half-mile high Burj Khalifa and drives supercars - accusing him of conducting a string of dodgy pyramid schemes and failed real estate projects.

Habibi Coin was marketed as a "Sharia-compliant" cryptocurrency and "the Bitcoin of the Middle East." Hundreds of investors from the Middle East, US, and UK each invested tens of thousands of dollars of their own money into the coin, which is worthless after failing to deliver on any of its promises.

If you don't believe me, you can check your project profitability with our Bitcoin mining profitability calculator tool by clicking that link. If you were to use an Antminer S19, you would still lose nearyl $2,000 a year.

Bitcoin's block difficulty is continuously increasing, and with the current price of Bitcoin, it doesn't look like Bitcoin mining is profitable for the average person. Although, the Bitcoin halving might change that soon.

Bitcoin ATMs are a convenient way to buy and sell Bitcoin and other cryptocurrencies for cold hard cash. This method usually incurs relatively high (5-10%) fees, but that's the price to be paid for the convenience of getting cash for your Bitcoin in less than half an hour.

Another good way to check the price of Bitcoin in the UAE is to go the your exchange of choice and check the price in your local currency that Bitcoin last sold for. The price of an asset is just this - the value of the compensation for which it was most recently exchanged. This price differs across markets, i.e. one exchange may have a slightly lower or higher price depending on varying barriers to entry and liquidity. So, the price that matters most is the one you can actually trade at.

As a tech-driven and customer-focused company, we move with the market trends to meet the customer aspirations, especially in this era of digital financial engagement. Cryptocurrency is becoming an increasingly popular payment method. Enhancing the customer experience through an added payment choice, Bitcoin Suisse will serve as our preferred crypto brokerage provider that will further add to our international property transactions and in turn, bring more value to Dubais economy.

Another Dubai-based developer - Knox Group - has sold out of the 400 units it offered to the market with the option of paying with Bitcoin (via the U.S. company BitPay). Knox Group's Aston Plaza residences. But while purchasing property with Bitcoin through certain real estate firms may be as straightforward as possible, there are still restrictions to keep in mind. The UAE still prohibits the use of cryptocurrencies as a method of payment or deposit. This means that you can't exactly buy a house with Bitcoin, you must work with a third-party broker who will convert it to fiat currency before sending it to the seller. It's not quite yet the decentralized future many have imagined, but it's a step in the right direction. Can I Get a Bitcoin Debit Card in the UAE? Bitcoin debit cards are a great way to turn your crypto gains into holidays, gifts, or just groceries. Bitcoin debit cards allow you to spend a range of cryptocurrencies (always Bitcoin, often Ethereum, and sometimes other altcoins) wherever Visa or MasterCard is accepted. You either pre-load a certain amount of Bitcoin onto the card and convert it to fiat currency manually, or this is done at the time of purchase. Unfortunately, there are not many Bitcoin debit cards available to UAE residents. Available in the United Arab Emirates? Bitpay No Cryptopay No MCO No Revolut No Uquid Available to existing Uquid customers in the UAE Wirex Account available, but not the debit card Uquid offers virtual and physical debit cards, both of which can be topped up with Bitcoin and linked to PayPal and other online payment services. Physical cards can be used for ATM withdrawals, while POS transactions are fee-free. Both are valid for three years. No identity verification is required if you stay under $1000/1000/1000 limit over the lifetime of the card. Beyond that, you'll need to provide identity verification and proof of address. How Do I Cash Out Bitcoin in the UAE? The easiest way to cash out of Bitcoin in the UAE is to use an exchange that supports withdrawals of your preferred fiat currency. BitOasis allows users located in the United Arab Emirates, Saudi Arabia, Kuwait, and Bahrain to withdraw AED to the bank account reigstered with the exchange. The abovementioned Bitcoin debit cards allow you to withdraw cash from any ATM. If you're able to get your hands on a Uquid debit card, this may be the easiest way to convert your Bitcoin into cash. Bitcoin ATMs are another way to exchange your BTC for fiat currency. There is one Bitcoin ATM in the United Arab Emirates, located in Dubai. LocalBitcoins and other P2P exchanges are another option. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. LocalBitcoins is a peer-to-peer (P2P) exchange, where you buy and sell with another individual. This does introduce a degree of risk, though by ensuring that you conduct all business on the platform, make use of its escrow services, and only trade with users who have a good reputation, you'll minimize any potential problems. As selling Bitcoin for fiat currency is generally considered a taxable event, you'll want to make sure you comply with local regulations regarding taxation of capital gains. Check out our guide to the best cryptocurrency tax software to help you maximize your profits. About the Author: Jordan Tuwiner Jordan Tuwiner is the founder of BuyBitcoinWorldwide.com. His work has been featured in The Guardian, International Business Times, Forbes, VentureBeat, CoinDesk and many other top Bitcoin media outlets. His articles are read by millions of people each year looking for the best way to buy Bitcoin and crypto in their country.He has also written extensively about the history, technology, and business of the crypto world. Jordan is also the creator of some of the internet's most famous Bitcoin pages, including The Quotable Satoshi and Bitcoin Obituaries. To learn more about Jordan, see his full bio.

The UAE still prohibits the use of cryptocurrencies as a method of payment or deposit. This means that you can't exactly buy a house with Bitcoin, you must work with a third-party broker who will convert it to fiat currency before sending it to the seller.

Bitcoin debit cards are a great way to turn your crypto gains into holidays, gifts, or just groceries. Bitcoin debit cards allow you to spend a range of cryptocurrencies (always Bitcoin, often Ethereum, and sometimes other altcoins) wherever Visa or MasterCard is accepted. You either pre-load a certain amount of Bitcoin onto the card and convert it to fiat currency manually, or this is done at the time of purchase.

Uquid offers virtual and physical debit cards, both of which can be topped up with Bitcoin and linked to PayPal and other online payment services. Physical cards can be used for ATM withdrawals, while POS transactions are fee-free. Both are valid for three years.

The easiest way to cash out of Bitcoin in the UAE is to use an exchange that supports withdrawals of your preferred fiat currency. BitOasis allows users located in the United Arab Emirates, Saudi Arabia, Kuwait, and Bahrain to withdraw AED to the bank account reigstered with the exchange.

Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. LocalBitcoins is a peer-to-peer (P2P) exchange, where you buy and sell with another individual. This does introduce a degree of risk, though by ensuring that you conduct all business on the platform, make use of its escrow services, and only trade with users who have a good reputation, you'll minimize any potential problems.

As selling Bitcoin for fiat currency is generally considered a taxable event, you'll want to make sure you comply with local regulations regarding taxation of capital gains. Check out our guide to the best cryptocurrency tax software to help you maximize your profits.

Jordan Tuwiner is the founder of BuyBitcoinWorldwide.com. His work has been featured in The Guardian, International Business Times, Forbes, VentureBeat, CoinDesk and many other top Bitcoin media outlets. His articles are read by millions of people each year looking for the best way to buy Bitcoin and crypto in their country.

He has also written extensively about the history, technology, and business of the crypto world. Jordan is also the creator of some of the internet's most famous Bitcoin pages, including The Quotable Satoshi and Bitcoin Obituaries.

Disclaimer: Buy Bitcoin Worldwide is not offering, promoting, or encouraging the purchase, sale, or trade of any security or commodity. Buy Bitcoin Worldwide is for educational purposes only. Every visitor to Buy Bitcoin Worldwide should consult a professional financial advisor before engaging in such practices. Buy Bitcoin Worldwide, nor any of its owners, employees or agents, are licensed broker-dealers, investment advisers, or hold any relevant distinction or title with respect to investing. Buy Bitcoin Worldwide does not promote, facilitate or engage in futures, options contracts or any other form of derivatives trading.

Buy Bitcoin Worldwide does not offer legal advice. Any such advice should be sought independently of visiting Buy Bitcoin Worldwide. Only a legal professional can offer legal advice and Buy Bitcoin Worldwide offers no such advice with respect to the contents of its website.

the 7 best cryptocurrency mining hardware for 2021

the 7 best cryptocurrency mining hardware for 2021

Amid the global GPU shortage and expired import tariff exemptions, is it still worthwhile to get a Bitcoin mining machine? While this may depend on whether Bitcoin remains in the bullish territory or if your electricity cost is relatively cheap, its always prudent to take an overview of the market and figure out the best Bitcoin miners.

When it comes to cryptocurrency mining profitability, it all comes down to balancing the initial cost of the Bitcoin mining machine, its power draw, and its hash rate. Once you have these figures, its easy to calculate your gains based on Bitcoins block reward and your electricity cost by using this mining calculator. With that in mind, lets take a look at which ASIC miner has the optimal balance.

Chinese Canaan Creative is a well-established player in the crypto mining arena. Some would say it is the first company to offer a dedicated ASIC Bitcoin mining machine since its first model in 2013. AvalonMiner 1246 is a heavy-duty mining machine, demonstrated by its four integrated fans, which ramp up to a very uncomfortable noise at 75dB.

This is considered very loud traffic noise, so be prepared to have a dedicated mining space with noise isolation on the door. Nonetheless, it boasts high efficiency at 38J/TH. Additionally, it comes with a one year warranty and integrated AI microchip. As with most ASIC miners, due to high demand, you may find it difficult to find but first, take a look at the official manufacturers page.

Almost equal hash rate power and power draw at twice less the price, AvalonMiner A1166 Pro is so highly sought after that it is even more difficult to acquire. This Bitcoin machine has a hash rate efficiency at 42J/TH, 4 higher than the AvalonMiner 1246. Although it still costs as much as a high-end PC, its a steal at that power efficiency.

Unfortunately, it appears that Canaan cut some corners to make it this affordable, as it only comes with 180 days warranty. Also, if you are buying it directly from the manufacturer, you will have to get a minimum of 5 to get them shipped. All five would yield 405 TH/s, netting about $115 per day. It uses the same fans as the previous model, so expect the noise to be equally bothersome.

One of the newcomers to the mining arena launched last year, this super-affordable Bitcoin mining machine uses Samsungs 8nm chipset. Unfortunately, the latest doesnt mean the most efficient, as you can tell from its power draw that is comparable to AvalonMiner 1246, but 30% less efficient.

However, it is also 4 5 times less expensive than top of the line ASIC miners, so its a solid investment if you intend to have your RoI in less than four months. It offers 180 days warranty and comes bundled with a power supply unit. The M32 series comes in three versions, with the most expensive one yielding 66 TH/s.

Another model from Chinese MicroBT, the M30S++, is a Bitcoin mining machine beast with the highest hash rate power available on the retail market. Surprisingly, its power draw is quite low, which means it is also one of the most efficient ASIC miners at 31 J/TH. However, with a price tag at a minimum of $10k, you need to be heavily committed to Bitcoin mining.

With a moderately priced electricity cost, you can expect an ROI within 10 to 12 months, if the Bitcoin price doesnt go under its current range ($55k $57k). Having been released just last October, it too uses Samsungs latest 8nm ASIC chipset.

Going head-to-head with M30S++, this Bitmain ASIC miner offers 29.5 J/TH efficiency. Combined with a drastically improved boot time and user experience thanks to the updated firmware, it can be considered the best Bitcoin miner on the list. Unlike M30S++, it uses a 7nm TSMC chipset, much like the latest generation of non-mining AMD Ryzen CPUs.

Chinese Ebang counts itself among top Bitcoin ASIC manufacturers. Its latest model comes in a classic, compact, tubular design with an efficient exhaust and intake fans on both sides. Its software setup is equally efficient with the Simplify IP setup to quickly commence Bitcoin mining directly via Ethernet.

Covered by one year warranty (half a year for the whole machine, one for the controller), EBIT E11++ is built on a 10nm chipset. Due to its hash rate efficiency that greatly falls behind AvalonMiner A1166 Pro, it should be the last on your list, if nothing else is available.

Released all the way back in 2014, this model still holds up, accounting for its low electricity consumption and hash rate efficiency at 0.51 J /GH. Likewise, it is extremely compact at only 2.5kg, while its cooling is greatly helped with an open top design. It is a perfect fit for those who live in smaller apartments, as it has a maximum noise level at 65 dB

If you already have a formidable PC, you can try transforming it into a Bitcoin mining machine at no initial cost. Just as games have a minimum system requirement to be playable, Bitcoin mining has a minimum requirement in order to be profitable:

If you want the best output all-in-one workstation, uncompromised gaming, mining for your next PC, try AMD Ryzen Threadripper 3970X. This would be considered a supercomputer not so long ago, thanks to its 32 cores and 64 threads. It also has a massive cache of 144MB and power draw at 280W.

At the current Bitcoin (BTC) price point of $55K, a single, medium-ranged Bitcoin mining machine with 50 TH/s would be able to mine 1 BTC within one year. As you can see, we have long passed the threshold where Bitcoin mining can be effectively done at such a small scale.

Nonetheless, there is an alternative form of crypto mining in the form of cloud mining. For example, StormGain offers a cloud mining service with which you can mine up to 0.0318 BTC per day. This is a legit way of mining without suspicious malware being installed on your computer, or even having to have a mining rig. Otherwise, StormGain wouldnt be a member of the Blockchain Association of the Financial Commission.

In the early days of Bitcoin adoption, it was commonplace to employ commercial GPUs for cryptocurrency mining. While people still use that method in areas with cheap electricity, such an approach to Bitcoin mining has long outlived its cost-effectiveness.

In fact, Bitcoin was originally coded to be mined by CPU power, not GPU. Only later did Bitcoin core developers decide to harness the greater hashing power of GPUs. Eventually, even they were outclassed by specialized hardware called ASIC miner, standing for Application Specific Integrated Circuits. Any serious Bitcoin mining farm now consists of ASICs. Otherwise, it couldnt be profitable.

Although not on the list because it has only been announced last month, it seems that Bitcoin mining machines from BitWats are poised to be the most profitable mining rigs. Out of three, the one with the lowest price, at $5,000, reportedly has 360 TH/s at 550W power consumption.

A single ASIC miner, such as AvalonMiner A1166 Pro, capable of about 81 TH/s, could make about $23 per day. Of course, this is excluding the cost of the unit and ongoing electricity costs. If you are not prepared to invest in an ASIC miner, outside of cloud mining with StormGain, you could also join a mining pool.

Mining pools represent coordination with fellow miners, combining computing power to add a new block. Once the block is mined, the block reward is then shared among all the pool participants. As you would expect, most mining pools can be found in China, seconded by Malta, and then in the US. There are several mining pools to choose from:

Note that the pools region is not relevant to the process, so that you could join a Chinese pool from the US. Also, keep in mind that mining pools are different from cloud mining; as for the former, you have to have a mining rig.

Lastly, if some unknown Bitcoin cloud mining or pool mining website seems too good to be true, its likely a scam. The biggest such scheme was BitClub Network, when three fraudsters were arrested for pilfering $722 million worth in crypto assets. The common tactic is to promise a share in the hashing power for an initial investment. As befits a true Ponzi scheme, scammers would then also ask the investors to bring in new recruits for rewards.

Rahul is an India-based Digital Marketer who became attracted to Bitcoin and blockchain technology in 2014. Ever since, he's been an active member of the community. Other than that, he is a die-hard gamer. This gadget freak is well renowned in his circle for binge-watching Game of Thrones.

uae based gdig to launch digital gold exchange and crypto mining operation | unlock blockchain

uae based gdig to launch digital gold exchange and crypto mining operation | unlock blockchain

UAE Global Digital Innovation Group (GDIG), a blockchain company claims to have invested in blockchain research and application development among other digitization technologies. The company recently announced that it is planning to establish the first Digital Gold Asset exchange to be backed by Gold reserve. According to their website the Digital Gold Asset Exchange will issue a gold back token or gold backed bonds.

In addition the GDIG has announced the establishment of its mining subsidiaryBitworldand will be investing 60 million USD in the company by 2021 in MENA for bitcoin and Ethereum mining industry. As per the release, the traditional digital currency mining industry is restricted by power requirements, hardware production, purchase channels and other resource constraints, making it hard for traditional financial businesses to invest in stable and profitable digital currency mining projects.In the Middle East, the cost of oil and electricity resources is low, but the production capacity of mining machines is subject to greater constraints, and the most cutting-edge high-performance mining machines are mainly produced in the Asia-Pacific region.By establishing Bitworld the Middle Eastern region will no longer be subject to the influence of mining machine production capacity in other regions, and mean Bitworld is able to give priority to supply their own miners to businesses in the region."

CEO Planck Danny, co-founder of GDIG and CEO of Bitworld, said: Bitworld will leverage its research and development strengths to supply not only itself, but also the entire Middle East, with the latest high-performance professional mining machines.Bitworld will also play an important role in providing equivalent computing power in the mining business of digital currency rights pledges and mining machines, and is already interested in future cooperation with a number of energy companies in the Middle East and Asia Pacific.

GDIG is based in Dubai UAE and is stated to employ 70 employees within two sectors digital currency mining business andthe Global Digital Industry Group Foundation. The group states that it is already involved in several blockchain projects such as IPFS, BTW, CDS, etc.

cryptocurrency exchange bitex launched in the uae

cryptocurrency exchange bitex launched in the uae

Bitex has officially launched as the United Arab Emirates (UAE) newest digital asset exchange. The Dubai-based trading platform will initially support bitcoin core, bitcoin cash, ethereum and litecoin. Bitex also announced the launch of a cryptocurrency wallet that offers an additional cash deposit service, according to media reports.

Monark Modi, chief executive officer of Bitex UAE, said the exchange will provide multiple payment options including bank transfer and credit or debit cards. The cash deposit service allows users to schedule a cash pickup, with funds immediately deposited in their accounts and available for trading within 24 hours, he explained.

Recent changes in UAE regulation have made today the perfect time to seize the opportunity to introduce a new, secure, professional trading platform, Modi is quotedas saying by the Bahrain news portal Trade Arabia on Nov. 22. He said the UAE government has demonstrated progressive leadership with its Blockchain Strategy 2021, which has laid the groundwork for digital assets becoming more accessible in the Gulf state.

UAE residents have been calling out for more options to securely buy and sell digital currencies while residents have been able to use international trading platforms for some time, having access to a local exchange is far more convenient. Trading via a UAE-based company allows customers to easily deposit local currency rather than first having to exchange it for a more widely-accepted currency.

In June, the Financial Services Regulatory Authority, regulator of Abu Dhabi Global Market, released a framework for regulating crypto assets and their attendant activities. The framework addresses the potential risks associated with cryptocurrency transactions, including alleged financial crime, money laundering, consumer protection and technology governance. The guidelines have been viewed as testament to the UAEs progressive attitude towards blockchain and virtual currency use and adoption.

According to Trade Arabia, Bitex UAE has said it uses a multi-signature HD wallet to store cryptocurrency. A three-key system increases security, the company claimed, requiring two of the three keys in order to access funds. The first key is securely stored by Bitex UAE, the second is stored with Bitex UAEs wallet partner and the third is a recovery key, it said separately on its Linkedin page.

The UAE is developing into a hotspot for blockchain and cryptocurrency adoption. Its Blockchain Strategy aims to position Dubai as a leader in this global technology. The country has also announced plans to operate its own cryptocurrency by the year 2020.

Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). Weve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither dowe.

A Swedish man has been sentenced to 15 years in prison in the U.S. for an investment fraud scheme involving cryptocurrency, including bitcoin. He defrauded thousands of victims of more than $16 million. The U.S. Department of Justice (DOJ) announced ... read more.

On Thursday local reports from Mechanicville, the city located in Saratoga County, New York, say that an old hydroelectric plant constructed back in 1897 was almost dismantled, but today the plant is mining bitcoins. The Mechanicville facility is considered one ... read more.

prominent blockchain expert vows to make uae a hub of blockchain technology in the region | uae news 24/7

prominent blockchain expert vows to make uae a hub of blockchain technology in the region | uae news 24/7

DUBAI, United Arab Emirates:- Prominent blockchain expert Zijing (Ryan) Xu, also known as Ryan Xu vowed to introduce blockchain through a number of strategic plans in the sector finance, banking and others in the UAE and in the region.

Ryan Xu is one of the most influential Key Opinion Leaders in Chinese Digital Currency and Blockchain Community besides the Co-founder of Blockchain Global, Collinstar Capital, and Rongyitou Internet Financial Services Co. Ltd as well as member of the Asian DACA Blockchain Association and Chairman of HCash Foundation.

Zijing (Ryan) Xu, a prominent blockchain expert and steering power of a number of projects based on blockchain technology has recently appointed Chief Strategy Officer and member to the Board of Director Code Chain New Continent Limited (CCNC), the leading eco-technology company.

Chief Strategy Officer and member to the Board of Director CCNC, Zijing (Ryan) Xu said that The UAE has long history as a top financial centre for the Middle East countries and during the COVID-19 pandemic, the UAE with its measures to tackle the issue from controlling the spread of coronavirus to vaccination drive has proved that the country is a better and safe place for the tourists and entrepreneur to come here. To consider this opportunity, we decided to move our head office here in Dubai and make investment in the blockchain industry to make the technology a new way of business in the UAE and MENA.

We are finalizing our side of work from installing the 2nd generation crypto mining machines in the country while also waiting for the local regulatory authorities to announce the regulations and start issuing license, said Zijing (Ryan) Xu, Chief Strategy Officer and member to the Board of Director CCNC, in an interview in Dubai.

Our company Code Chain New Continent Limited (CCNC) listed in Nasdaq and recently engaged in blockchain technology after purchasing a number of Bitcoin mining rigs and became part of the industry and more into interaction with blockchain industry to make further investment besides we are also looking into payment area.

The CCNC has already installed crypto mining machines in China due to its cheap labour and resources besides the presence of leading crypto machines manufacturing companies. But we are working to put our resources like crypto mining machines in the UAE as these will be 2nd generation to use less electricity and more eco-friendly and based on high-speed internet infrastructure, he said.

Responding on the rapidly fluctuating of Bitcoin value in the recent months, Zijing (Ryan) Xu said that there are good side and bad side, for the bad side people get afraid to not understanding the mechanism reasoning the rapidly change in the price especially in downward but as the good side of this we can see it is like a baby with its unique nature of expressing different moods but growing very fast.

Shedding light on the companys strategy, Zijing (Ryan) Xu said that in the first phase, we are going to move our crypto mining business here in the UAE to create our own crypto currency change platform here in the country besides launching stable crypto token based on UAE Dirham as a payment method for common use. There are crypto tokens based on different regional currencies like dollar, pound sterling and others and for us we think it is best opportunity to introduce new token crypto currency locally to fill the gap, he said.

He further said that they are working on installing appropriate technology as well as doing marketing to launch the local crypto currency as soon as possible once the local regulatory authorities give permission to issue a certain license. We are excited to launch our local crypto currency to grab the huge opportunity in the region, he added.

Highlighting the companys future plan in the region, Zijing (Ryan) Xu said that we believe that the UAE is a financial centre for the whole Middle East region and for this district as most of the countries are relying on oil but want to change their oil-based economy system as the world is going to change very fast with its revolutionary inventions in every sector. Everyone is looking for alternative choice and I think the blockchain or crypto currency could be next future as next oil or digital oil. If we are looking for an opportunity, we need internet, big data, all kind of online financial activities, etc., as this is the future, he added.

He further said that the UAE should grab the opportunity and became the pioneer in blockchain area as it has already done very impressive movement like launched Hope Probe to Mars and world first status. I think the UAE government should take some brave move to put some crypto currency as central bank reserve and that can be the first in the world as eventually the crypto currency will become mainstream and there will be competition among worlds governments for percentage like todays gold. Today the governments are competing for more gold reservoirs and soon the fight will be around data or crypto currency or blockchain technology and whoever goes first will have more advantages.

Mr. Xu has been dedicated to the Bitcoin industry since 2014, with extensive experience in Blockchain, mining, and investment. He brings special expertise to pioneer Blockchain technology, expand into new markets and leverage new platforms that are especially timely in a fast-changing business environment.

In his new role at Code Chain, Mr. Xu will be the driving force behind the Companys strategic focus on Bitcoin mining. Mr. Xu will also help drive the Companys continued growth by leveraging his extensive professional insights in Bitcoin and industry influence to guide the managements crypto currency expansion and development efforts.

In welcoming Mr. Xu, David (Weidong) Feng, Co-CEO of the Company, commented, Code Chain is moving rapidly to meet the demands of its mission of cryptocurrency expansion. We are excited for Mr. Xu to join our team as a multi-dimensional and multi-talented leader with a proven successful track record. Having him help our progress going forward is a huge added value for the Company.

Mr. Xu said, I am very pleased with this excellent opportunity to firmly root in the Companys strategic direction by offering my knowledge of the Blockchain market. I look forward to being a part of this adventure ahead.

Founded in 2009, Code Chain New Continent Limited engages in the research, development, and sale of solid waste recycling systems for the mining and industrial sectors, the wholesale and sale of fuel materials, harbor cargo handling services and production and sales of coating materials in the PRC. It provides end-users in these markets with a clean alternative to traditional waste disposal by significantly reducing solid waste discharge into the environment and enabling such users to extract value from valuable metals and other industrial waste materials. Upon completion of Sichuan Wuge Network Games Co., Ltd. (Wuge), the Company has also diversified its business. Wuge was established in 2019 and is still in this early developing stage. Wuge produced electronic tokens that combine the five-W elements (when, where, who, why, what), geographic location via the Beidou satellite system and identity information using Code Chain technology. The electronic tokens are unique, tradable, and inheritable digital assets and cannot be tampered. The electronic tokens are based on and stored in the Code Chain system and can be used to monitor and document all kinds of consumer behaviors that involve code-scanning.

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