According to Trade Arabia, Bitex a cryptocurrency exchange, announced today that they officially launched a wallet and trading service in the UAE region.
Clients registered on Bitex can purchase, sell, and trade multiple virtual currencies, including Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), and Bitcoin Cash (BCH).
In addition to that, clients will be able to transfer and buy cryptocurrencies within the platform.
Welcome to Bitex UAE, a Dubai-based secure, professional #TradingPlatform facilitating the buying and selling of #DigitalCurrencies including #Bitcoin, #Ethereum, #Litecoin and #BitcoinCash.#BitexUAE pic.twitter.com/njNL6NIrak
— Bitex (@bitexuae) August 29, 2018
The CEO said that residents preferred dealing with local exchanges. Furthermore, a UAE-based company gives users access without restrictions to trade and they can also deposit local currency.
Security of the platform
The platform also offers security for customers, as it uses a multi-signature HD wallet to store cryptocurrency.
With its three-key system, the platform saves the first key, its wallet partner stores the second, while the third serves as a recovery key. According to the CEO, the platform’s three-key system ensures the protection and security of customers’ funds.
The UAE is undoubtedly one of the foremost leading countries in the Middle East when it comes to cryptocurrency and blockchain technology adoption.
It’s good to see more companies slowly expanding into the UAE.