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Dubai Ready For Impressive Cryptocurrency Growth

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Experts estimate that Dubai’s position will lead to impressive benefits from the continuous growth of the cryptocurrency market in the Middle East. Regulators aim to approve the use of blockchain-based technologies, as Bittrex Global’s chief executive states. 

The United Arab Emirates and Dubai focus on attracting many regional projects. According to the digital assets exchange CEO Stephen Stoneberg, the UAE is an excellent area to start or run a cryptocurrency exchange. Dubai is the financial hub of the UAE, which is why it’s focused on supporting the use of blockchain technology within the city. 

Dubai embraced cryptocurrency trading and continuously took the steps necessary to support it. In May, the Dubai Airport Free Zone Authority signed an agreement with the Securities and Commodities Authority. It aims to support the regulation and provide access to crypto trading within the free zone. 

Cryptocurrencies have experienced dramatic growth during the past months. Since most institutional money is going into Bitcoin and Ethereum, blockchain-based technology remains the main driver for the market. Many investors support Bitcoin and promote it as one of the best approaches to online trading. 


Methodology 

The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

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Disclosure

All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

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