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Author: Admin | 2025-04-28
To buy Bitcoin in the UAE is through the cryptocurrency exchanges outlined above. Just select one based on your requirements and preferences using our list outlined above. 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 aren’t buying a lot of Bitcoin, they are more private than exchanges. Unfortunately, there is only one Bitcoin ATM in all of the UAE and it's in Dubai at the 5-star Rixos Premium Hotel. - Exchange Hacks and Crypto Scams in UAE UAE-based exchanges have so far avoided any major hacks, though there have been a number of Bitcoin-related scams targeting Emirati crypto enthusiasts. Bar Works 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%. Bar Works' first location opened in October 2015 at 47 West 39th Street, New York City, looking very much like...
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