The best crypto exchange in the UAE
Cryptocurrency exchanges in the UAE and all over the world are the most common way for crypto enthusiasts to buy coins. They have a wide range of functions for generating profits and the lowest commission costs, since they are the liquidity providers.
Godex.io exchange is one of the speediest services that has proved its reputation on the global scene including the UAE crypto exchange players and the Middle East region. Having the standard kit of the major crypto players like Bitcoin, Ethereum, Bitcoin Cash, it is not forgetting about penny coins and currencies with smaller market capitalization offering more than 200 coins to exchange. Its strong reliability is based on the modern security protocols including the availability of servers` physical protection. Fast order completion (from 5 to 30 minutes), absence of the exchange limits and customer anonymity specify the key service benefits. For each cryptocurrency Godex.io offers a fixed exchange rate which remains stable until the transaction is completed. All sales/purchase transactions on the platform are anonymous as no third party can access the user's personal data.
Exchange Hacks for Crypto in Dubai
As traditional financial organizations with advanced cyber protection are in no hurry to enter the crypto world the hackers find this moment as the most appropriate for attacking crypto exchanges, especially the young companies which have not tested their security systems yet.
Many countries have started implementing guidelines in order to control the purchase and sale of cryptocurrencies, as well as to prevent their unauthorized use, however, the current position of cryptocurrencies in the UAE is gray and the future is uncertain. Therefore, crypto owners are advised to avoid storing large amounts on exchanges, and to use the devices disconnected from the Internet. Experts advise using exchanges only for conversion.
Regal RA DMCC, registered in Dubai, a subsidiary of Regal Assets Inc., which received the first state license for trading cryptocurrencies in the Middle East, offered investors a special service such as cryptocurrency storage. It promises to secure investments in cryptocurrencies from the risks of losing them as a result of hacking, viruses and intruders, and other factors.
Cryptocurrency trading in the United Arab Emirates
The United Arab Emirates have become a global hub for the sale of cryptocurrencies.
The UAE authorities have announced a launch of a blockchain strategy aimed at making the country a global industry leader by 2021.
As a part of the program, it is planned to introduce blockchain technologies in the private and public sectors, as well as to finance educational initiatives aimed at familiarizing residents with the blockchain and accelerating its popularization. Sheikh Mohammed noted that the implementation of blockchain solutions will help the UAE save almost $ 3 billion.
It is noteworthy that all initiatives within the framework of these programs and projects ultimately pursue one main goal which is to make the country's inhabitants the happiest people on Earth. Such statements slip through in all interviews with responsible persons. However, they also have an economic ground. The UAE government has spent more than $ 35 billion on the development of the service sector and high technologies in order to abandon the commodity economy model (the UAE is a large exporter of oil and gas). As a result, the Emirates did not suffer in 2016, when oil prices almost halved. In all new sectors of the economy, primarily those related to high technologies, UAE citizens work on an exclusive basis, while the rough work (for example, construction) is performed by foreign labor. According to senior officials of the UAE, citizens will become more professional and more efficient when they are happy. Therefore, caring for happiness is economically beneficial, and the development of high technologies, like blockchain, means newly founded jobs, new markets and, accordingly, additional income.