OTC crypto exchange is gaining massive popularity in the UAE. It is primarily preferred by investors who look forward to exchanging large amounts of cryptocurrencies without messing with the market price. As it is a platform that allows buyers and sellers to negotiate rather than trading publicly directly, it has become the most preferred way of a crypto exchange in the UAE.

Cryptoverse has become a leading OTC crypto exchange in the UAE as it offers OTC crypto exchange for every type of cryptocurrency like Ethereum, Bitcoin, Litecoin, and Bitcoin cash. Cryptoverse is setting an example as a secure and user-friendly platform for investors. It also offers various other services such as crypto marketing, real estate via crypto, crypto pay, NFT services, etc. 

As cryptocurrency exchange in Dubai is becoming popular and people prefer OTC for crypto exchange, here is how you can choose the best option for you:

• Fees:

One of the aspects of choosing a suitable OTC exchange for cryptocurrency is considering the transaction cost. The fees may vary from 0.03% to 0.05%. But there are OTC brokers who charge no transaction fee at all. 

• Reputation and Security: 

Look for a platform that holds a high reputation and top-notch security level. Dig deeper into the reviews that people have posted for the platform.

• Liquidity: 

Another great way to choose the right OTC platform is to examine the liquidity rate. As people in UAE prefer OTC majorly for crypto exchange, it is advisable to look for a high liquidity factor in the OTC platform. It is so because a platform with a high liquidity rate can handle large orders. Thus, it will ensure smooth and quick exchange. 

• Supported Cryptocurrencies:

Crypto exchange in UAE is done through different types of cryptocurrencies, and you may also need flexibility in the crypto exchange. So, prefer using an OTC crypto exchange that supports all the cryptocurrencies you can exchange in.

• Customer Service

A platform that has quick customer service should be your top priority. Many OTC platforms for crypto exchange in UAE have easily accessible customer service to address your concerns and questions quickly. 

• User- Interface

Choose an OTC platform with an intuitive and easy-to-use user interface. It will allow you to navigate the platform easily and execute trades quickly.

Reasons why OTC is preferred for OTC Exchange:

• Better Liquidity

As no intermediary is involved, there is a higher liquidity rate as the involved parties, like the buyer and the seller, have fixed prices on the ledger. 

• Better exchange rates

You get better exchange rates as prices are settled directly between the two parties without the involvement of a third party.  

• Better negotiation

As the buyer and seller are in direct contact, the negotiation becomes very easy. 

• Quick settlement

The payments are carried through escrow terms; the OTC exchange only releases the asset when the amount is sanctioned from the buyer’s end. 

Some of the top Notch OTC exchanges for cryptocurrency in the UAE:

• Cryptoverse

It is one of the platforms in UAE that provides all kinds of services related to cryptocurrency exchange in UAE. The team at cryptoverse ensures quality services to their clients by expanding the network daily and digging deeper into the industry trends. As the company holds years of experience in NFTs, Dubai Real Estate, P2P Exchange, Marketing, and crypto space, you can rely on them for better services with more excellent knowledge and competence. 

• OKK

OKK is another popular OTC crypto exchange platform in the UAE. It is preferred mainly because it has a user-friendly interface for experienced and freshers. It allows users to swap currencies and support limit, stop, and market orders. The user-friendly interface also aids users in easily tracking and creating their favorite NFTs utterly free of cost. It also facilitates a holistic view of the history of transactions, portfolio performance, and digital assets. 

• Bitstamp

Bitsamp is one of those platforms that has made the buying and selling process of crypto currencies very smooth. It has an intuitive interface that allows instant deposits and easy withdrawals. The site provides UAE cryptocurrency exchange access for institutions and retail investors through constant uptime, reliable order execution, and high liquidity. Bitstamp accepts over 80 cryptocurrencies, becoming one of the largest preferred crypto exchange platforms in Dubai, UAE, after cryptoverse. 

• Coinbase- the reliable option for beginners looking to exchange cryptocurrency

It is considered a good tool for crypto exchanges for beginners. However, it also has various advanced exchange tools that can benefit experienced investors. Coinbase supports 100 cryptocurrencies and is available worldwide. 

Some of the critical features of Coinbase:

• Secure and safe worldwide cryptocurrency exchange.
• It supports around 100 cryptocurrencies. 
• Offers a wide range of liquidity options and trading limits.
• An intuitive and easy-to-use interface that makes it perfect for beginners. 
• It is also available as a mobile wallet for Android and iOS users. 

• Kraken 

Kraken is an advanced platform for a cryptocurrency exchange in UAE. It offers various useful features and tools for seasoned investors and allows for exchanging digital currencies with much more flexibility and leverage. 

Some of the Pros of Kraken:

• One can efficiently execute exchanges through Kraken by requesting live quotes, as it provides a Request-for-quote system.
• Wide range of supported assets.

Cons:

• Some features still need to be clarified.
• Long application form. 

• BitOasis

BitOasis supports over 40 leading cryptocurrencies that cover Ethereum, Bitcoin, DeFi coins, metaverse tokens, etc. For experienced investors, BitOasis has launched BitOasis pro. It has advanced features and tools for professional investors looking for more prominent exposure. 

It is one of the best Bitcoin exchange platforms in UAE for investors looking to exchange digital currencies against AED. BitOasis supports bank wires and credit/debit card payments when making any deposit. Bank wires allow residents of the UAE to deposit funds for free. On the other hand, credit/debit card payments require a 4.5% fee. 

Pros

• Supports AED trading pairs
• 40+ pairs supported

Cons

• You must pay a 4.5% fee for credit or debit card payments.
• No support for e-wallets
• Commission of up to 0.50% on AED pairs

Read More: Everything You Need to Know About OTC Crypto Exchange in UAE

So, these were some insights about OTC for crypto exchange in the UAE. You can choose the best platform by going through the guide in the blog above. Do not hesitate to go in for cryptocurrency exchange, as you already know the benefits and how rapidly it is taking over the investment industry in Dubai, UAE. You can choose from the platforms suggested in the article for smooth exchange.

Best wishes :).

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