Thanks, @OmegaStarScream for your brief reply. Thanks, @NotATether for giving me an idea of Dubai in a local way, and yes accommodation & transport is already taken care of. I won't be paying a single penny for the same. I also would like to ask both of you how much minimum AED per month is good if accommodation and transport are not an issue to live a good life in Dubai according to you guys.
Topic: Is Dubai a Bitcoin Friendly City? - page 2. (Read 363 times)
Dubai looks like a friendly crypto zone for investors but if you look at it from another angle you will see that it's a space that benefits only the rich people, freedom with crypto but no easy life when it comes to rents, it is not a place anyone can rush down to all because they are crypto-friendly, there are few things you need to consider first, and the most important one is how big your pocket is.
Dubai seems to be the most friendly bitcoin nation in the middle east. Although it is an Islamic nation it seems to be open to western culture and investment. The country has a zero percent crypto corporate tax policy because it wanted to attract more crypto investment to its economic space. The country is a host to over 400 crypto businesses and there is the presence of some of the best exchanges in the world. And this friendly polices have attracted many investment that has turned the country into a crypto hub. Moving to Dubai can be a good decision for any crypto enthusiast because there might be many employment and investment opportunities. But note that you need to do a lot of planning before relocating because it is very challenging.
I have initiated the plan to shift to Dubai. If everything goes right I would be in Dubai by the end of this month or by early April. I have few relatives who have been living in that city for more than a decade. Unfortunately they have no clue that I am Bitcoin enthusiast and I do trade occasionally in cryptocurrency exchange in my country which is india.
As trading crypto in India has become a pain on the ass. I thought of going to Dubai as most crypto inventors and investors are shifting their base to Dubai.
What I am trying to find out is simple but essential? I would request everyone who knows how Dubai crypto works to answer. Please do not answer my questions for the sake of signature campaign as it might not help me and others follwing my path.
1. Is holding & trading or both an offence?
2. Do they tax or restrict on buying/selling of crypto?
3. Are there any DEX that support BTC/AED transaction globally or vice-versa?
4. How long does it takes to buy/sell Bitcoin in AED on a DEX or CEX?
5. If DEX are not available then which CEX should I use?
Thanks in advance.
Moderators: If this board is not appropriate then please transfer this topic to a relevant board. Please do not delete it. Thanks.
Most of the big fish who is into crypto go to Dubai because of tax, here is what I have searched hope this will be helpful to you to decide.As trading crypto in India has become a pain on the ass. I thought of going to Dubai as most crypto inventors and investors are shifting their base to Dubai.
What I am trying to find out is simple but essential? I would request everyone who knows how Dubai crypto works to answer. Please do not answer my questions for the sake of signature campaign as it might not help me and others follwing my path.
1. Is holding & trading or both an offence?
2. Do they tax or restrict on buying/selling of crypto?
3. Are there any DEX that support BTC/AED transaction globally or vice-versa?
4. How long does it takes to buy/sell Bitcoin in AED on a DEX or CEX?
5. If DEX are not available then which CEX should I use?
Thanks in advance.
Moderators: If this board is not appropriate then please transfer this topic to a relevant board. Please do not delete it. Thanks.
https://www.mondaq.com/fin-tech/1278306/is-dubai-the-best-option-for-crypto-founders#:~:text=Relocating%20to%20Dubai%20can%20offer,receiving%20token%20or%20equity%20incentives.
Dubai looks like a friendly crypto zone for investors but if you look at it from another angle you will see that it's a space that benefits only the rich people, freedom with crypto but no easy life when it comes to rents, it is not a place anyone can rush down to all because they are crypto-friendly, there are few things you need to consider first, and the most important one is how big your pocket is.
Dubai has some freaking expensive rent so I hope you have sorted out where you are going to live before you move there. Otherwise you'll just end up using your trading profit to pay off house rent.
Keep in mind that there are two sections in Dubai:
- The foreigners' areas, usually concentrated around the free zones
- and the rest of the city, where all the immigrants from e.g. nepal, bangladesh, and 3rd world countries with small pockets & try to earn a quick buck. You might find it hard to use your crypto there and it is not glamorous like the first section. Crime is also very real there, so keep your coins close to yourself.
Keep in mind that there are two sections in Dubai:
- The foreigners' areas, usually concentrated around the free zones
- and the rest of the city, where all the immigrants from e.g. nepal, bangladesh, and 3rd world countries with small pockets & try to earn a quick buck. You might find it hard to use your crypto there and it is not glamorous like the first section. Crime is also very real there, so keep your coins close to yourself.
Dubai is definitely crypto friendly from all the findings I have made and the stories I have heard. It is one of the future cities in the world and advancement in tech innovation is the forefront of its commerce and realization of future designs.
I don't have to say much. You can read more at the link below for proof of their crypto adherence and use.
https://www.google.com/url?sa=t&source=web&rct=j&url=https://decrypt.co/120907/dubai-clarifies-rules-for-crypto-companies%23:~:text%3DAccording%2520to%2520the%2520new%2520rulebook,authority%2520before%2520offering%2520their%2520services.&ved=2ahUKEwjWloyM6tn9AhVDhP0HHa3XA5EQFnoECBEQBQ&usg=AOvVaw3I-zf0SFSwiP-9w_fYhvUu
I don't have to say much. You can read more at the link below for proof of their crypto adherence and use.
https://www.google.com/url?sa=t&source=web&rct=j&url=https://decrypt.co/120907/dubai-clarifies-rules-for-crypto-companies%23:~:text%3DAccording%2520to%2520the%2520new%2520rulebook,authority%2520before%2520offering%2520their%2520services.&ved=2ahUKEwjWloyM6tn9AhVDhP0HHa3XA5EQFnoECBEQBQ&usg=AOvVaw3I-zf0SFSwiP-9w_fYhvUu
Read about the RAK Digital Asset Oasis https://www.wam.ae/en/details/1395303133695 their recently launched digital asset free zone will be responsible for all the things you require about cryptocurrency and provides variety of digital asset like you listed above including DAO, NFTs etc. So, you'll have to prepare and be ready to stay in the sixth largest city in UAE after Dubai, except you are determined to live in Dubai, I don't know about the cryptocurrency welfare in Dubai. However the things you listed, are they limited to some countries? can't you access such platforms anywhere in the world?
Anyone correct me if i'm wrong..
1. Is holding & trading or both an offence?
- Holding and trading cryptocurrencies was not illegal in Dubai. However, it is important to note that regulations can change, and it is always best to stay informed about any updates
2. Do they tax or restrict on buying/selling of crypto?
- No, there were no specific regulations on taxing or restricting the buying and selling of cryptocurrencies in Dubai
3. Are there any DEX that support BTC/AED transaction globally or vice-versa? and
5. If DEX are not available then which CEX should I use?
- I am not sure about the availability of decentralized exchanges (DEX) that support BTC/AED transactions globally. However, it is possible to use centralized exchanges (CEX) that support BTC/AED trading pairs, such as BitOasis, Kraken, and Binance.
4. How long does it takes to buy/sell Bitcoin in AED on a DEX or CEX?
- The time it takes to buy or sell Bitcoin in AED on a DEX or CEX can vary depending on the exchange and market conditions. but i'm pretty sure it won't be much different with btc/usdt
1. Is holding & trading or both an offence?
- Holding and trading cryptocurrencies was not illegal in Dubai. However, it is important to note that regulations can change, and it is always best to stay informed about any updates
2. Do they tax or restrict on buying/selling of crypto?
- No, there were no specific regulations on taxing or restricting the buying and selling of cryptocurrencies in Dubai
3. Are there any DEX that support BTC/AED transaction globally or vice-versa? and
5. If DEX are not available then which CEX should I use?
- I am not sure about the availability of decentralized exchanges (DEX) that support BTC/AED transactions globally. However, it is possible to use centralized exchanges (CEX) that support BTC/AED trading pairs, such as BitOasis, Kraken, and Binance.
4. How long does it takes to buy/sell Bitcoin in AED on a DEX or CEX?
- The time it takes to buy or sell Bitcoin in AED on a DEX or CEX can vary depending on the exchange and market conditions. but i'm pretty sure it won't be much different with btc/usdt
1. Neither is an offence. They recently passed a law about crypto/digital assets.
2. I don't believe so, no but I suggest you do more research about this.
3. No, not as far as I know.
4. It shouldn't take more than a few clicks with a CEX.
5. You've got a few options:
- BitOasis (local one that has been running for a few years)
- CoinMENA (launched not a long time ago).
- Rain.bh (Bahraini platform, licensed by the central bank of bahrain but supports UAE residents as well).
I know that Kraken also started to support AED transactions at some point, but stopped like a month ago.
2. I don't believe so, no but I suggest you do more research about this.
3. No, not as far as I know.
4. It shouldn't take more than a few clicks with a CEX.
5. You've got a few options:
- BitOasis (local one that has been running for a few years)
- CoinMENA (launched not a long time ago).
- Rain.bh (Bahraini platform, licensed by the central bank of bahrain but supports UAE residents as well).
I know that Kraken also started to support AED transactions at some point, but stopped like a month ago.
I have initiated the plan to shift to Dubai. If everything goes right I would be in Dubai by the end of this month or by early April. I have few relatives who have been living in that city for more than a decade. Unfortunately they have no clue that I am Bitcoin enthusiast and I do trade occasionally in cryptocurrency exchange in my country which is india.
As trading crypto in India has become a pain on the ass. I thought of going to Dubai as most crypto inventors and investors are shifting their base to Dubai.
What I am trying to find out is simple but essential? I would request everyone who knows how Dubai crypto works to answer. Please do not answer my questions for the sake of signature campaign as it might not help me and others follwing my path.
1. Is holding & trading or both an offence?
2. Do they tax or restrict on buying/selling of crypto?
3. Are there any DEX that support BTC/AED transaction globally or vice-versa?
4. How long does it takes to buy/sell Bitcoin in AED on a DEX or CEX?
5. If DEX are not available then which CEX should I use?
Thanks in advance.
Moderators: If this board is not appropriate then please transfer this topic to a relevant board. Please do not delete it. Thanks.
As trading crypto in India has become a pain on the ass. I thought of going to Dubai as most crypto inventors and investors are shifting their base to Dubai.
What I am trying to find out is simple but essential? I would request everyone who knows how Dubai crypto works to answer. Please do not answer my questions for the sake of signature campaign as it might not help me and others follwing my path.
1. Is holding & trading or both an offence?
2. Do they tax or restrict on buying/selling of crypto?
3. Are there any DEX that support BTC/AED transaction globally or vice-versa?
4. How long does it takes to buy/sell Bitcoin in AED on a DEX or CEX?
5. If DEX are not available then which CEX should I use?
Thanks in advance.
Moderators: If this board is not appropriate then please transfer this topic to a relevant board. Please do not delete it. Thanks.
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