Categories
Guides website-posts

How to buy Ether (ETH) in the Middle East

Digital currencies have come a long way since the inception of Bitcoin back in 2009. In the Middle East and North Africa (MENA) region, the United Arab Emirates (UAE) has been the leader in taking the initiative and encouraging the development and growth of new technologies in the financial technology (Fintech) and blockchain sectors.

At BitOasis, we are proud to be the largest and most secure digital asset platform in the MENA region. With us, it has never been easier and more secure to enter the world of blockchain. Operating in the region since 2015 and headquartered in the UAE, our platform allows MENA residents and citizens to buy, sell and trade Ether (ETH), along with over 10 other digital assets safely and securely.

What is Ether (ETH)?

Ethereum is a blockchain-based open-source decentralized platform set up for its own digital asset – Ether (ETH). Ethereum allows Distributed Applications (ĐApps) and smart contracts to be built and run on the network without any control, downtime, fraud, or third-party interference. Additionally, Ethereum is a Turing complete programming language that helps developers build and publish ĐApps.

Ether (ETH) is used for two main purposes – firstly, it is traded like other digital assets, and secondly, it is used on the Ethereum platform to run applications. In 2016, Ethereum underwent a hard fork, and was split into two separate blockchains – the first being Ethereum, and the second being Ethereum Classic.

As of 2019, Ether (ETH) was the second-largest digital asset on the market, following Bitcoin.

How to buy Ether (ETH)?

In order to buy Ether (ETH) in the Middle East, you just need to follow three simple steps:

Step 1: Sign Up for a BitOasis account

  • The first thing you need to do is to sign up for a free account on our platform. Simply provide your email address along with your name, and set a password.
  • Next, provide your mobile phone number to complete your registration. The phone number is what you will use to confirm your logins, transactions and account changes, so please ensure you provide us with a valid number.
  • Congratulations, you now have a BitOasis account!

Step 2: Verify Your Account

After successfully creating your account, you will need to proceed with verifying your account in order to start buying, selling and trading Ether (ETH). The verification process is necessary for compliance and local/international regulatory purposes.

  • Visit the verification page to begin the process. You will be introduced to three different levels of verification that you can choose from based on your requirements; Tier 1, Tier 2 and Tier 3. Each tier has a different set of documentation and information required from you, as well as a different weekly UAE Dirham (AED) deposit and withdrawal limit.
  • Select the verification Tier you would like to proceed with based on your requirements. The platform will show a list of required documents from your side in order to proceed with verifying your account.

Please note that verifications are usually processed immediately for Tier 1, and take 24-48 hours for Tier 2 and 3.

Step 3: Deposit AED and buy Ether (ETH)

Once your account is verified, you are now eligible to buy, sell and trade Ether (ETH). In order to perform a transaction, you first need to deposit AED into your account.

You can deposit AED to your BitOasis account easily and securely on the AED deposit page. Simply follow the steps in order to deposit the desired amount through your Credit/Debit card.

Once the transaction is successful, you will see the deposited AED amount on your Dashboard.

Now that you have AED in your account, you can buy Ether (ETH) along with the many other digital assets we support. There are two options that allow you to either buy and sell Ether (ETH), or trade Ether (ETH).

Buying Ether (ETH) Through BitOasis Core

BitOasis Core is the easiest and most convenient way to buy and sell Ether (ETH) or any other digital asset we support. In order to buy Ether (ETH) through BitOasis Core, please follow the below steps:

Buying Ether (ETH) Through BitOasis Core
Buying Ether (ETH) Through BitOasis Core
  • Select the digital asset pair you want to transact in. For Ether (ETH), you can select the pair ETH-AED from the dropdown menu.
  • Enter the desired amount in AED or in Ether (ETH)
  • Hit the Buy button!

Buying Ether (ETH) Through BitOasis Pro

BitOasis Pro is designed for users who want to trade Ether (ETH). Users on the Pro platform can enjoy advanced trading features like trading charts in addition to additional types of orders, such as market orders, limit orders, stop orders and stop-limit orders.

In order to trade Ether (ETH) through BitOasis Pro, please follow the below steps:

  • Go to the BitOasis Pro page
  • Select the trading pair you want to transact in from the drop-down menu on the top left. For Ether (ETH) you have many options to choose from:
    • ETH-AED
    • ETH-BTC
    • EOS-ETH
    • ETH-USDT
  • Select your preferred order type
  • After that, enter the amount of Ether (ETH) you want to buy
  • Finally, Hit the Buy button!

For more information on BitOasis PRO, including the different order types and how to place a trade, please visit our BitOasis Pro guide.

About BitOasis

BitOasis is the largest, most secure, and most liquid digital asset exchange in the Middle East and North Africa (MENA) region, offering over ten (10) digital assets to buy, sell and trade against the UAE Dirham (AED). The BitOasis platform is available to users in the United Arab Emirates (UAE), Saudi Arabia, Bahrain, Kuwait, Oman, Jordan, Egypt and Morocco.

Keep track of all news and updates on our Blog and follow us on our Twitter, Facebook, Telegram, Medium as well as Reddit accounts for the latest updates.


Read More