Digital Currency Deposit Guidelines on BitOasis

To deposit digital assets from an external wallet, you’ll find your digital currency receiving addresses by clicking on the Accounts  page. We have created this guide to help you in depositing digital currency on your BitOasis account.

Digital Currency Deposit Recovery

Digital currencies transferred to the wrong address with an equivalent amount of 10k USD or higher can be recovered.

It usually takes 4-6 weeks to recover lost funds. $150 recovery fee is applied for any recovery; the equivalent amount will be deducted from the recovered amount. An Additional 10% fee is required if BCH was sent to BTC segwit address.

Supported Digital Currencies

The below information is necessary to check when you deposit digital currency. Please make sure to check this before initiating any deposit:

Bitcoin (BTC):

When depositing BTC, you’ll need to make sure you are transferring to a BTC address

Bitcoin Cash (BCH):

    1. Please double-check the address type before doing a deposit.
    2. The BCH deposit page shows both the legacy and new address formats.

Litecoin (LTC):

Please double-check the address type before doing a deposit.

Ripple (XRP):

    1. To make a Ripple (XRP) deposit, you need to use both: address and tag.
    2. Do NOT send Ripple to BitOasis unless you know how to indicate a tag. If you fail to include the tag with your deposit the funds will be lost forever.

Stellar Lumen (XLM):

    1. To make a Stellar Lumen (XLM) deposit, you need to use both: address and memo.
    2. Donot send Stellar Lumen (XLM) to BitOasis unless you know how to indicate a Memo. If you fail to include the Memo with your deposit the funds will be lost forever.

Ether (ETH)

Please make sure to the set gas limit to at least 35,000 when sending ETH. The deposit will not be processed otherwise.

Ethereum Classic (ETC)

We do not accept Ethereum Classic deposits from smart contracts

USDT

We do not support USDT deposits or deposits to any coins that are not listed on the “Deposit” page. If you are unsure if you can deposit a certain coin, please get in touch with our support team.

EOS

    1. Your exchange deposit will be ready for trading after 1 confirmations on the EOS blockchain.
    2. Deposits from external wallets will need a few more minutes to be completed.
    3. To make a EOS deposit, you need to use both: address and memo.
    4. Do NOT send EOS to BitOasis unless you know how to indicate a Memo. If you fail to include the Memo with your deposit the funds will be lost forever.

BitOasis supports Cryptocurrency Regulation in MENA

The recent adverse announcement on cyrptocurrency regulation and trading in Saudi Arabia highlights the necessity for a clear and comprehensive regulatory framework to build confidence at the highest level.

Cryptocurrency regulation and the blockchain are a reality, and we believe, the future of money. Our team is working closely with relevant regulators in the UAE to ensure our operations are legal and compliant.

We would like to reassure our users that these recent developments do not affect our operations. Our platform is still open to customers to safely and securely trade digital assets across the Middle East.

We would like to thank all our customers for using BitOasis as we strive and continue our promise of being the most competitive exchange for all our users in the Middle East.

Thank you for using BitOasis!

Refer your friends to BitOasis and earn rewards

We’re excited to announce to our customers that we have launched our referral program on the trading exchange platform. Interval period for the invited customers starts as soon as they register and verify their accounts using your referral link.

How does referral program work?

– You can start by inviting your friends to our platform by clicking on the “Refer Friends” tab.

– After entering the email address of the person you would like to invite, please click on the “Send” button and they’ll receive an email with a link to create their trading account on our platform.

– You can also invite your friends by sharing your referral link ID that is available on the “Referral Program” page.

– As soon as your friends sign up, they’ll need to verify their accounts by clicking on the “Increase Limits” page on the “Buy Bitcoin” tab.

– As soon as their accounts are verified, they’ll be able to start trading.

– Your referral fiat AED reward is calculated based on the fees paid for completed exchange orders placed by the user that registered via your referral link.

What are you waiting for? Log in to BitOasis.net, invite your friends and get rewarded. If you have any questions or comments, please reach out to our support team.

For terms and conditions, please refer to our Terms of Service, section 24.

Thank you for using BitOasis!

BitOasis Update on the Rise of Digital Assets and Blockchain Adoption in the UAE and GCC region

As adoption of digital assets and blockchain technology is on the rise worldwide, we at BitOasis are seeing an exponential increase in demand for our services in the GCC region. We welcome this growth but we also acknowledge that this might create bottlenecks which our new clients may temporarily experience from time to time. We would like to assure our longstanding clients and partners that the team at BitOasis is working tirelessly at resolving these issues.

One of our top priorities is to ensure we operate transparently and communicate openly with all of our customers. As such we would like to respond to a Gulf News article published on Thursday, January 10th, under the title ‘Bitcoin investors angry after BitOasis disables transfers’.

It is our understanding that EmiratesNBD’s recent policy decision to halt transfers for customers dealing with blockchain-based trading platforms applies not only to BitOasis but to similar companies in the blockchain space both locally and internationally. It is unfortunate to see one of the UAE’s major financial institutions taking such a position on products built using this innovative and much in demand technology. We continue to actively engage and build strong relationships with other leading financial institutions as well as regulators in the UAE with the aim of fostering an environment more conducive to blockchain technology adoption.

BitOasis does not, at present, nor ever has, maintained a banking relationship with either of Emirates NBD or Noor Bank. We continue to have excellent relationships with our local banking partners since the launch of our platform in 2015. We currently do not have any issues with accepting or sending customer transfers to Noor Bank or any other UAE or GCC based banks as the article suggests. We are also currently engaging with other banks mentioned in the article to streamline and remove any friction for our customers banking there.

Furthermore, we have been actively engaging with regulators locally in the UAE and in the GCC, and have received a positive reception to supporting local innovation in the blockchain and digital assets space. The cooperation and positive reception we have been receiving from local banks and regulators is a testament to the UAE’s openness to technological innovation and its leadership’s continued commitment to, technology and entrepreneurship.

Similar to another leading international blockchain digital asset trading platforms, the recent unprecedented growth experienced, particularly in the last eight weeks, has led to unexpected delays in user verifications and withdrawals. We have been actively working since then to double our capacity and invest more in our existing infrastructure in order for us to continue serving our existing customer base and also welcome thousands of new customers from UAE and GCC to our website.

As one of the largest and fastest growing companies in the blockchain space in the UAE, we’re committed to providing the best and most secure trading platform in the region for our customers. We strive every day to improve our services in order to meet the growing demand of our customers. Hence, we have recently secured a large equity financing round from reputable investors such as KBBO Ventures, Wamda Capital, Pantera Capital, Jabbar Group, among others, that we will be announcing soon. These funds will go towards ensuring a secure and seamless user experience on our platform and ensuring that we maintain healthy relations with all banks and regulators in the region.

For any questions, please contact BitOasis at [email protected] or visit us at www.bitoasis.net

BitOasis Technologies is the Middle East & North Africa’s largest and most secure online digital asset platform. Established in 2015, BitOasis is based in the United Arab Emirates (UAE) and currently aims its services at professional traders and investors from the GCC region, with plans to expand to the rest of the MENA market.

Message from our CEO: We’re hard at work keeping up with the growth!

We’re thrilled and excited to see thousands and thousands of new people across the region buying their first bitcoin and ether on daily basis on BitOasis. Since our launch in 2015, we’ve been committed to providing the best and most secure platform for our customers across the Middle East to buy, sell and store digital assets and we continue to execute on our promise until today.

In the recent few weeks, we’ve experienced tremendous growth on our platform, and we’re now on boarding thousands of new customers on daily basis on our website. Due to the unprecedented growth in user activity, we have experienced delays in the recent weeks; specifically on processing user verifications and wire withdrawals. All issues with regards to wire withdrawals were resolved, and they’ll be issued to customers within the next 48-72 hours. On user verifications, please be patient as our team verifies your account. Verifications now take 7-9 working days to be processed. We’re also implementing a new system of user verifications that should reduce the processing time once our backlog clears.

Rest assured, our team is hard at work and operating at full capacity to make sure we resolve any user issues on the platform, address any unexpected delays as well as continue delivering on our promise to you. We’ve recently doubled the size of our team and we’re adding more resources and talent as fast as we can to keep up with the growth. We also ask you to invest responsibly as digital assets are volatile commodities. We appreciate your patience and understanding as we work hard on providing you the fastest and most secure service to buy, sell and trade digital assets in the region.

Ola Doudin
CEO, BitOasis

BitOasis wallet security upgrade and dynamic fees feature

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Yesterday we had a planned service upgrade on our platform to improve our multisignature security and add new transaction features to your wallet. BitOasis multisig wallet is now supported by wallet security provider, BitGo, where your second multisig key will be securely stored. We have also improved our dynamic transaction fees allocation to make sure your transactions won’t get stuck again on the bitcoin network or have you overpay on fees.

The following are some of the new features added to your wallet:

SMS multisig transaction confirmation: We will no longer initiate a call confirmation to your personal mobile number to confirm your transaction and sign with your second key. Starting today, outgoing wallet transactions and sell trades that require user confirmation will now be confirmed via SMS. Once you initiate a transaction an OTP code will be sent to you via SMS. Once you receive it you will need to type in the code on your screen to sign with your second key and send out your bitcoins.

New transaction thresholds: You now have a daily limit of 0.2BTC of transactions above which your wallet will initiate an SMS confirmation to your mobile to allow you to sign with the second key (OTP code confirmation explained above). Any transaction below the 0.2BTC limit will not trigger an SMS confirmation. In the future we will be allowing you to set your own daily limit that you’re comfortable with.

Dynamic transaction fees: We’ve introduced dynamic transaction fees to our users to make sure you pay just the required amount for your transaction to be processed by the network without unexpected delays. This is in response to the increase in transactional volume on the network and the unexpected delays some of our users have been experiencing during high congestion period. With dynamic fees bitcoin transactions will be processed in a more predictable way with no unexpected delays. Fees will typically be below standard during times of low network activity and higher during period of high network congestion.

We also would like to confirm that our fully distributed 2-of-3 multisig wallet setup hasn’t changed. In this case we’ve partnered up with BitGo to securely store users second key. You will also have the ability to recover your funds through your recovery key.

If you have any questions, please don’t hesitate to reach out to me at [email protected] and you can sign up for a new BitOasis wallet at bitoasis.net.

Note: our iOS mobile app wallet will be upgraded by next week, we will keep you posted on the status through our social media channels and newsletter. Follow us on twitter @BitOasis and like our page on Facebook.

أين يمكنك إستخدام البيتكوين في الوطن العربي

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لربما سمعت أثناء تصفحك على الانترنت عن العملة الإلكترونية الجديدة المعروفة بالبيتكوين التي بدأت تغزوا أرجاء المعمورة، ولربما ما زلت محتاراً في كيفية عملها وما الذي يدفع الناس لشراءها بحماس، وكيف يمكن الإستفادة منها والإستثمار بها، سواءاً عالمياً أو محلياً.

منذ بدأ بعض كبار التجار حول العالم بقبول الدفع بالبيتكوين كطريقة دفع شرعية ومعتمدة، ازدادت شهرة هذه العملة الإلكترونية بشكل فاق التوقعات ونتيجة لذلك توالت المتاجر والمواقع الإلكترونية للإنضمام لهذه الثورة لما تحمله من فوائد عديدة )سنناقشها في مدونة أخرى.( نلاحظ الآن ازدياد أعداد المتاجر التي تقبل الدفع بالبيتكوين بشكل مطرد وتغطي طيفاً واسعاً مما يحتاجه المستهلك. ففي خطوة جريئة أعلنت عملاقة البرمجيات Microsoft عن قبولها للدفع بالبيتكوين في ديسمبر الماضي للحصول على المحتوى الرقمي من برمجيات وأدوات تطوير وغيرها من خلال بوابتها الإلكترونية، في حين تعاونت شركة Dell مع منصة حافظات البيتكوين شهيرة للسماح لمستهلكيها من شراء أجهزة Alienware عالية الأداء من موقعها الإلكتروني.

في الوطن العربي، لا زالت ثورة البيتكوين في مرحلة النضج، ولكننا نرى وبشكل يومي الإقبال المطرد من الشركات الناشئة على تطوير أفضل أنظمة الدفع الإلكتروني في منطقة تشهد تطوراً سريعاً في الشراء عبر الإنترنت أو باستخدام وسائل الدفع الإلكترونية، فكيف سيتبنى الوطن العربي البيتكوين كأسلوب الدفع الإلكتروني الأفضل للمرحلة المقبلة؟

عقدت دبي منتداها الأكبر المتعلق بالبيتكوين في ديسمبر 2014، ومنذ بداية هذا العام ونحن نرى المزيد من المتاجر تحذوا حذو المتاجر العالمية بتبنيها للبيتكوين، ونرى العديد من اللقاءات والفعاليات التقنية من تونس، دبي، الخرطوم ومدن أخرى عديدة، كما نرى العديد من الشركات الناشئة ترمي بكل ثقلها لتشارك في تشكيل مستقبل هذه العملة الإلكترونية في المنطقة.

وكما يتزايد أعداد الأفراد المستفيدين من البيتكوين، يصلنا عادة العديد من الأسئلة المتعلقة بكيفية الإستفادة منها وصرفها وما المتاجر التي تدعمها في الشرق الأوسط، لذا جمعنا لكم قا ئمة بهذ المواقع:

JadoPado.com:

متجر إلكتروني تأسس في دولة الإمارات، يقوم هذا المتجر على إتاحة المجال لمستخدميه لبيع وشراء البضائع، حيث تتيح للباعة بإدارة متاجرهم الخاصة على الموقع بشكل ذاتي، فيما يقوم الموقع نفسه بإدارة الدفعات المالية نيابة عنهم. منذ تموز الماضي، اعتمد المتجر الإلكتروني البيتكوين كوسيلة للدفع متيحاً للمستخدمين الوصول إلى 50,000 منتجاً بسهولة والدفع مقابلها باستخدام البيتكوين.

The Pizza Guys:

متجر البيتزا الشهير أصبح أول متجر مادي في دبي يقبل الدفع بالبيتكوين منذ شباط 2014، مالكو المتجر يؤمنون بأن مدينة دبي التي غالبية سكانها من المغتربين والسياح يعطي امكانية الدفع بالبيتكوين فائدة مضافة للمستهلكين بحيث لا يقلقون من الرسوم العالية على البطاقات الإئتمانية ورسوم تحويل العملة إلى العملة المحلية.

Liwwa.com:

تعتبر هذه البوابة حلقة صلة بين المشاريع الصغيرة والناشئة التي ترغب بتطوير رأس مالها وموجوداتها من جهة، وبين المستثمرين الذين يرغبون بالاستثمار بهذه المشاريع من جهة أخرى، حيث يجني المستثمرون عائداً من أرباح المشاريع التي قاموا بالاستثمار بها. خلال تموز 2014، أعلنت هذه البوابة عن قبول الدفع بالبيتكوين من قبل المستثمرين للتسهيل عليهم القيام بالإستثمار بشكل مباشر من خلال البيتكوين.

Anghami:

منصة الموسيقى الإلكترونية الأشهر في الشرق الأوسط أعلنت في مارس 2014 عن قبول الدفع بالبيتكوين مقابل الإشتراك بخدمة البث الخاصة بها، لتصبح أول منصة موسيقى في العالم تدعم الدفع بالبيتكوين.

ولأن هذه المواقع والمتاجر في الشرق الأوسط تتزايد بشكل يومي لتتيح الدفع بالبيتكوين، سنقوم بتحديث مدونتنا أولاً بأول لتشمل كل المستجدات وأحدث المتاجر التي قررت الإنضمام إلى الثورة الأكبر في أنظمة الدفع الإلكتروني.

إذا تبادر لديكم أية أسئلة فلا تترددوا بمراسلتي على: [email protected]

نتمنى لكم تسوقاً ممتعاً، ولكن باستخدام البيتكوين!

Top reasons why you’ll soon be transacting in bitcoin

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Whenever you’re paying online or at a shop, you probably faced
situations where you were paying for your hotel using your credit card abroad,
or trying to grab that hot deal you found online, only to find out that your
transaction has failed. It’s also frustrating, time consuming and expensive
when you think of the time and fees needed to process that wire transfer to
your friend, not to mention the exchange fees on top of that. And you might
think, this is inevitable, you have to endure that nerve torturing process
every time you’re performing any transaction.

And among all of this there’s a new peer-to-peer electronic
cash transfer technology called Bitcoin
that is fast emerging on the sidelines. So what does bitcoin have to offer to
all people that want to transact more freely and instantaneously? Below, you’ll
find our top reasons why you’ll likely be using bitcoin to transact very soon:

1. Speed:

How much time it takes to perform a bitcoin transfer?
Virtually: As soon as you click the send button, the blockchain will register
the transaction and it will be updated on your wallet. It takes an average of
10 minutes to confirm the transaction on the blockchain. How about wire
transfers? First, the average time is around 3-5 business days, and banks may
hold on to your money a little longer. Credit card transactions may seem
instantaneous but they sometimes take days to clear on your account and often
there are delays in payments settled to merchants. [Score: Bitcoin 1 – 0 Traditional
payments]

2. Negligible fees:

The
average wire transfer fee is around $35 for international wire transfers. Even
Paypal charges around 3% and more for sending money
overseas. Credit card companies will charge at least 2-3% for each swipe. For bitcoin,
it costs typically 0.0001 BTC ($0.023810) for sending bitcoin transactions on
the blockchain and buying bitcoin on an exchange would typically charge you 1%
(some exchanges have lesser fees). [Score: Bitcoin 2 – 0 Traditional payments]

3. Crossborder and universal:

Since
bitcoin depends solely on having internet access, your friend in one half of
the world can send you money to your location on the opposite side of the world
in zero time delay. Bitcoin revolutionizes transactions and payments by
bridging the time and place borders as you can process your transactions
anytime, anywhere in the globe, to absolutely any other location with a single
click, you don’t have to worry about time difference or working days in
different countries so your payment or transaction gets stuck for an unknown
amount of time. Bitcoin guarantees instantaneous transactions to you as soon as
the sender clicks the “send” button. [Score: Bitcoin 3 – 0 Traditional
payments]

You must begin to wonder, where does that leave security? We’re
going to show you what it’s like to use our wallet!

4. Security: BitOasis wallet adopts
2-of-3 multisignature security measures, a sophisticated solution to secure
your bitcoin wallet against fraud and theft. Your wallet has 3 different private
keys that are stored at three different firms: BitOasis, CryptoCorp and
a third-party independent law firm. Therefore no single party has control over
your bitcoins, as you’ll need 2 of those keys in order to access your wallet
and transfer any funds.

Many other
existing wallets have also implemented sophisticated security measures and different
kinds of multisig, but our solution is different to other solutions by how we
secure the third private key (Recovery Key). Users can reach out to the third
party law firm that manages all of our clients’ recovery keys to access their
wallet and retrieve their funds in the case of emergency or if BitOasis online service
is no longer available. We also secure our user accounts online by implementing
2-Factor Authentication and have users enter the multi-digit authentication
code they receive on their mobile phones upon attempting to log in to their
account. Adding another score here?

What are you waiting for? Log in to BitOasis.net
and create your wallet now to enjoy all the amazing features and your
delay-free, cost-free money transactions using bitcoin.

If you have any questions don’t hesitate to contact me, Dina
Saman at [email protected]