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Currency exchange in the freezone of the UAE

2018-09-06

Now the question became urgent: what is a freezone in the UAE, and how it is possible to open a business in this country, is mining permitted in the United Arab Emirates. Freezone is considered as the best location for business organization. These zones are a delineated area where foreign ownership of firms is permitted.

Currency Exchange in the United Arab Emirates

Over the past year, interest in the crypto currency has grown in this country. In total, there are three crypto-exchange in the UAE - they are overflowed with applications for registering accounts. This action is necessary when trading in quantities in excess of 400 dirhams.

The first currency exchange in the UAE was the Bit Oasis platform - initially it operated in a free zone, now it functions as an organization based on the British Virgin Islands. It is supported by the DSO in technical and operational terms.

The largest indicator of supply and demand are two types of such currency - etherium, bitcoin. At the same time, there is a tendency to increase the list of currencies. In this regard, the stock exchanges are trying to have time to add them.

Exchange XRP on the Dubai Stock Exchange

Crypto currency exchange in the largest city of the country Bit Oasis provided customers with the opportunity to exchange XRP tokens Ripple. Along with this, it was announced about innovations in the verification of accounts.

Now any new user who wants to buy a crypto currency is required to provide the following information:

• Resident's visa;

• Emirates ID;

• Documentation of the place of residence;

• Bank details.

Only after that the user will be able to register. The need for verification is associated with a large number of incoming applications. Bit Oasis is one of the most developed companies in the block segment - by region, its goal is to provide its users with the opportunity to buy and sell bitcoins, airwaves, and, subsequently, Ripple, according to company representatives.