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crypto-exchanges

How To Choose The Ideal Token Exchange and Platform in UAE?

Some of the best exchanges to get into token invesement in UAE are eToro, OKX, Binance, Huobi and Bybit.

token exchange
  • Reputation. Choosing a reputable exchange increases traders safety and helps avoiding scams. Exchanges reputation needs to be checked considering the following criteria: regulatory compliance (licenses), security, number of userspositive users feedback and non-hacked history record.  
  • Transparent Proof of Reserves. Transparent proof of reserves reduce the risk of loss due to exchanges insolvency or fraud. Exchanges with transparent proof of reserves should be preferred. The most common proof of reserve ratio is 1:1.
  • Liquidity. Exchanges with higher liquidity should be preferred. They have faster trade executiongreater market depth and lover pricing which increases chances for profitable trading. 
  • Fees. Two types of fees need to be considered: trading fees (maker/taker fees, flat fees and volume based fees) and non trading fees (deposit & withdrawal fees, conversion fees). Exchanges with an overall lover fee structure should be preferred.
  • Crypto Trading Instruments. Exchanges with a wider range of crypto trading instruments should be preferred. The following instruments should be considered: spot trading, margin trading, futures trading, options trading, swap trading and crypto CFDs
  • Range of Crypto Products. Exchanges with a wider range of crypto products should be preferred. These increase diversification, flexibility and overall chances for profit. The most common products are cryptocurrencies, NFTs, ICOs, ETFs, derivatives, DeFi products and staking (lending) products.

Is Token Trading and Investing Legal in UAE?

Yes, investing and trading with cryptocurrencies in UAE is regulated by the Securities and Commodities Authority (SCA) and, therefore, is legal. The SCA’s Decision No. 23 of 2020 concerning Crypto Assets Activities Regulation (CAAR) regulates the offering, issuing, listing and trading with cryptocurrencies in UAE at the government level. Citizens of the United Arab Emirates are allowed to trade, hold, exchange and invest in cryptocurrencies.

  • Reputation. Choosing a reputable exchange increases traders safety and helps avoiding scams. Exchanges reputation needs to be checked considering the following criteria: regulatory compliance (licenses), security, number of userspositive users feedback and non-hacked history record.  
  • Transparent Proof of Reserves. Transparent proof of reserves reduce the risk of loss due to exchanges insolvency or fraud. Exchanges with transparent proof of reserves should be preferred. The most common proof of reserve ratio is 1:1.
  • Liquidity. Exchanges with higher liquidity should be preferred. They have faster trade executiongreater market depth and lover pricing which increases chances for profitable trading. 
  • Fees. Two types of fees need to be considered: trading fees (maker/taker fees, flat fees and volume based fees) and non trading fees (deposit & withdrawal fees, conversion fees). Exchanges with an overall lover fee structure should be preferred.
  • Crypto Trading Instruments. Exchanges with a wider range of crypto trading instruments should be preferred. The following instruments should be considered: spot trading, margin trading, futures trading, options trading, swap trading and crypto CFDs
  • Range of Crypto Products. Exchanges with a wider range of crypto products should be preferred. These increase diversification, flexibility and overall chances for profit. The most common products are cryptocurrencies, NFTs, ICOs, ETFs, derivatives, DeFi products and staking (lending) products.

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