Introduction of Crypto Exchange Platforms
Cryptocurrency exchanges play an important role in the cryptocurrency ecosystem. Cryptocurrencies can be bought and sold for other cryptocurrencies, fiat currencies, and various other assets on these exchanges. In addition, most crypto-to-crypto exchanges will provide liquidity for buyers and sellers looking to liquidate their holdings.
While technically still in beta, regulated crypto exchange platforms have become a mainstay in the cryptocurrency trading space due to their dependability, security measures, and advanced trading tools that allow users to effectively manage orders and portfolios. Some of the world’s biggest cryptocurrency exchanges by adjusted trading volume, including ByBit, Binance, Bitfinex, etc., have become household names in the cryptocurrency industry over the years.
List of Crypto Platforms in UAE Having Lowest Fees
It’s no surprise that UAE’s capital city Abu Dhabi is on this list of places to invest in and UAE’s tech sector is showing a steady growth in the number of people investing and starting their own ventures. Here is the list of crypto platforms in UAE having the lowest fees:
- OKX
OKX is a decentralized crypto trading UAE platform that uses smart contracts to enable users to invest in crypto assets.
OKX offers services for trading, investing and holding digital assets including cryptocurrencies, tokens, and blockchain based projects. The decentralized platform has been developed with the aim of providing an easy, safe and efficient way for both individual and institutional investors to participate in the cryptomarket.
OKX will combine the advantages of traditional centralized crypto exchanges by providing liquidity, speed, and trading features with the decentralized security and transparency that comes with blockchain. In addition, it will implement an off-chain order book matching system (double book) to minimize the number of on-chain transactions for a better user experience.
- Huobi
Huobi is another fast thriving best crypto exchange UAE, with its headquarters located in Singapore. This exchange is one of the world’s leading cryptocurrency exchanges, and has helped to set the record for most bitcoin transactions worldwide. Huobi was founded in 2013 by Leon Li and focuses on innovative technology research and development.
On July 17, 2017, Huobi Group raised 1 billion dollars and completed an initial public offering on the New York Stock Exchange (NYSE) with a price of $11 per share. At the time of listing, Huobi had 31 employees in Zug and Shanghai; later on, it has expanded its operations to Hong Kong and Vietnam with more than 300 people.
The exchange offers services to customers from around the world with over-the-counter trading services at 16:00 GMT+8 every day. They have offices throughout Asia Pacific as well as Europe, North America, South America, and Africa. Huobi provides a comprehensive solution for digital assets investors, developers and traders.
- Binance
Binance is without a doubt the fastest growing cryptocurrency exchange in the world. This profitable company was founded by Binance Coin, which is a 2017 NEO (NEO) token. NEO tokens are ERC-20 compliant, which means that they can be exchanged and bought on various exchanges like Bittrex and Poloniex. As one of these top 50 coins, it has seen more than one hundred percent growth since last year’s beginning of trading. In order to make these rapid gains, Binance has continuously invested in development and expansion. The main goal for a crypto exchange like Binance is to stay ahead of the competition and maintain users’ trust.
Recently, the company started to actively work on the listing of new tokens. For example, they have recently added several currencies that have had sudden massive growth.
Binance Coin (BNB) is one of the currencies that has seen significant growth since its inception into the market.
- ByBit
ByBit is a financial trading platform that allows users to execute orders using cryptocurrency. ByBit is registered in Singapore and has a presence in the Asian market. ByBit operates on the principle of open access and decentralization, meaning that it does not use an intermediary, thus significantly reducing costs for traders. The platform also offers automated profit distribution, eliminating any possible “trust issues”.
The company currently operates from their office in Singapore and plans to launch their operations worldwide before Q4 2018.
At the beginning of 2018, ByBit was planning to release their own cryptocurrency in UAE. However, the company decided to go with BTC instead. Users can now access the platform and trade with cryptocurrencies on ByBit’s platform.
ByBit Token (BBT) will be used as a tool for traders to collect funds being generated by the trading process and for real-time settlement of trading fees.
ByBit introduces its users to an automated profit distribution system that eliminates any potential trust issues.
Conclusion
Hopefully, the information featured above would come in handy for you as a guide in picking out the best crypto exchange in UAE charging less fees. While there is a deluge of such crypto trading UAE platforms, it is imperative to do research meticulously and sign up with a reputable crypto exchange in UAE depending on your preferences and needs.
If you are a beginner in crypto trading, a pointer worth considering is to create a demo account at the best crypto exchange UAE to get a general idea of crypto trading UAE and check whether the broker suits you to a Tee before creating a permanent or long-term account.
