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How to Buy Ripple in the UAE



Featured Ripple Broker: XTB

XTB is a globally renowned, low-cost cryptocurrency broker that offers CFDs for Bitcoin, Dash, Litecoin, Ethereum, Ripple, Stellar and more in the UAE. XTB has 24/7 customer support, top-notch security, and high liquidity. Open an XTB account today.

Cryptocurrencies have exploded in popularity all over the world, including in the Middle East.

The blockchain payments system has revolutionized the concept of money, and many more people will inevitably begin to either invest in cryptocurrencies and/or actively trade them.

The United Arab Emirates (UAE) is one of the fastest-growing markets for cryptocurrencies in the Middle East. Plans to regulate cryptocurrencies and initial coin offerings (ICOs) by the Securities and Commodities Authority of UAE will begin in the first quarter of 2019. Many international and semi-international exchanges currently accept customers from the UAE.

Buying Ripple’s XRP cryptocurrency in the UAE is easy, but what matters most is the broker or exchange you select. The first step consists of opening an account at an exchange that offers XRP. You must also have a crypto wallet specifically for XRP or multiple currencies including XRP to receive and store your cryptocurrency.

Bitcoin continues to rule the market as the best cryptocurrency due to its popularity, liquidity and fungible nature. Nevertheless, interest in the Ripple remittance network and XRP has made it the second largest cryptocurrency with a market capitalization of $14.7 billion compared to Bitcoin’s current market cap of $68.3 billion. Also, Ripple recently opened a UAE office in Dubai, which will only increase interest in cryptocurrencies in the Emirates.

Overview: Buying Ripple in the UAE

Buying XRP in the UAE entails having access to a cryptocurrency exchange that allows citizens of the UAE to register and that offers the XRP currency. Several local cryptocurrency exchanges currently allow UAE traders to deal in a number of digital currencies.

A number of crypto exchanges and digital currencies currently base their operations in the Emirates due to the low taxation rate, supportive regulatory environment and political stability there. Emiratis dealing in XRP can use these exchanges or they can select among the many international exchanges that accept accounts from individuals based in the Emirates.

Buying Ripple’s XRP also involves getting a wallet to withdraw your XRP and to store it in after acquiring the cryptocurrency from an exchange. In the steps for buying XRP listed below, you will find a partial list of exchanges, both local and international, where Emiratis may purchase XRP, as well as a selection of different types of crypto wallets used to store your XRP after purchase.

Another option for trading XRP involves speculating on the movements of the cryptocurrency by using contracts for difference (CFDs). This requires opening an account with an online broker, such as XTB for example, and requires no wallet or exchange account. Keep in mind that you never actually possess the cryptocurrency traded via an online broker and so you cannot use it to pay for goods or services.

Step 1: Open an Account at a Cryptocurrency Exchange

To purchase XRP in the Emirates, the first order of business consists of finding a suitable cryptocurrency exchange. As mentioned above, several cryptocurrency exchanges base their operations in the Emirates. Below you will find a partial list of cryptocurrency exchanges based in the UAE and internationally that offer XRP and accept accounts from Emiratis.


Finally, if you want to avoid the expense of a wallet and simply trade CFDs on XRP without taking possession of the cryptocurrency, you can open an account with an online broker like XTB. You can trade cryptocurrency with XYB’s xStation 5 platform, and even trade on the ever-popular MetaTrader4 platform.


Founded in 2015 and based in Dubai, BitOasis is one of the largest cryptocurrency exchanges in the Middle East. Supported currencies include Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Bitcoin Cash SV (BSV), Ripple (XRP), Litecoin (LTC), ZCash (ZEC), Monero (XMR), Ethereum Classic (ETC) and Stellar (XLM).

The company requires a minimum deposit of 300 AED that you can make via bank transfer:


Established in 2018 and based in Dubai, Palmex is one of the Middle East’s newest exchanges. It offers trading in a variety of altcoins against several other cryptocurrencies, including DubaiCoin (DBIX), Bitcoin (BTC), Ethereum (ETC) and Ripple (XRP). The platform boasts the highest security standards and minimal trading fees. The company does not accept fiat currency for deposit, so you must open an account with bitcoins or other accepted cryptocurrency.

BC Bitcoin

A UK based cryptocurrency exchange that accepts clients from the Emirates, BC Bitcoin focuses on fast deposits and withdrawals and provides excellent customer service. Supported currencies include Bitcoin (BTC), Ethereum (ETC), Ripple (XRP), Litecoin (LTC) and Monero (XRM), among others.

A minimum deposit of £500 is required and can be made via SEPA credit or a bank transfer. Prospective clients are charged a deposit fee of $10, €10 or £10, depending on your deposit currency.


Taipei-based Bitfinex allows trading in a number of cryptocurrencies and supports a number of professional trading features, such as margin trading. Supported currencies include Bitcoin (BTC), Ethereum (ETC), Ripple (XRP), Litecoin (LTC) and Monero (XRM) to name only a few.

Customers make deposits and withdrawals using bank transfers.


A so-called “instant” international cryptocurrency exchange, Changelly allows its customers to buy Bitcoin (BTC), Bitcoin Cash (BCH), Ripple (XRP) and Ethereum (ETH) with USD or EUR. According to the website, it provides the best crypto-to-crypto exchange rates in the business. The company’s trading algorithm integrates with the largest cryptocurrency exchange platforms, including Bittrex, Binance and Poloniex, among others.

Deposits get charged a 5% Simplex card processing fee with a $10 minimum and can be made with a Visa or Mastercard credit card. A screenshot of Changelly’s home page appears below:

CEX.IO accepts customers from all over the world, including the Emirates. In addition to supporting cryptocurrency trading, this exchange allows customers to trade nine forex currency pairs as well. The company accepts Crypto Capital, Visa/Mastercard, SEPA credit transfers and bank transfers for funding cryptocurrency purchases.

The company charges an instant trade fee of 7% and a fee of 3.5% + $0.25 for credit card transactions.

Step 2: Get a Cryptocurrency Wallet

To trade XRP and have full control over your transactions, you must first withdraw your XRP from the exchange or another source to a personal crypto wallet. Wallets come in several forms that let you notify the crypto network that you want to send and receive transactions.

You can install a wallet on your home desktop, laptop or tablet, as well as on an Android or iOS smartphone. You can also use a web-based wallet that does not require a download and lets you access your cryptocurrencies anywhere with an internet connection.

If you will be trading XRP, you must either get a multi-currency wallet or one specifically for Ripple.

In addition to the above-mentioned wallets, you can opt for a hardware wallet, which consists of a peripheral device that plugs into a computer like a USB memory stick. This type of wallet offers increased security. Popular wallets commonly used to trade XRP in the UAE are:

Ledger Nano S

One of the most popular hardware wallets available, Ledger Nano S supports more than 40 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP). Built around a chip similar to those used in passports and credit cards, the Ledger Nano S wallet protects your assets through a PIN code.


This cross-platform open-source XRP-specific wallet works on Windows, Mac and Linux desktop computers and tablets. A mobile version is available for iOS and Android. Due to its open-source nature, New Zealand-based StarStone Limited distributes Toast free of charge.


The universal multi-asset Atomic desktop wallet allows you to purchase XRP with USD or EUR using your credit card. In addition to XRP, the wallet supports Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and more than 300 other coins and tokens using a single interface. Transactions carry a $20,000 limit per transaction.


A completely wireless hardware wallet, the Bitfi wallet comes in a smartphone-like device and supports an unlimited number of cryptocurrencies and crypto assets. The wallet provides total security from online and offline security threats and allows you to manage all of your cryptocurrencies on one dashboard.

Step 3: Withdraw your XRP to Your Wallet

Once you have purchased your XRP on an exchange, you may withdraw the currency to your XRP or multi-currency wallet.

You may not want to leave your XRP currency on the exchange where it was purchased since you do not have control of your private keys when storing coins on an exchange.

Most experts recommend storing your XRP in a wallet with your own private key. After you have withdrawn your currency from the exchange to your wallet, you have successfully purchased XRP. Also, Ripple requires a 20-unit reserve fee to hold XRP in a personal wallet.

Final Thoughts

Your selection of an exchange or broker can make a big difference when you deal in cryptocurrencies. Decide whether you’d like to trade XRP in an online brokerage account or if you want to take possession of the currency. That will determine whether you should get a wallet and acquire the currency or open an online trading account with a broker.

Either way, make sure you have some knowledge of how to trade cryptocurrency  before you begin. If you choose to go through an exchange, you can use one based in the Emirates that supports XRP or open an account at an international exchange.

Emirate based cryptocurrency traders can take advantage of XTB’s sophisticated xStation 5 platform and can also use the MetaTrader4 platform by Metaquotes for transactions and market analysis.

Source: benzinga

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Russian Official: BRICS Countries Continue Unified Payments Systems Developing, No Plans for Bitcoin in Near Future



Last week, the news that Russia is considering investing huge amount of money into Bitcoin as a means to invade US sanctions spread like fire.

Given the fact that Russia has been working on de-dollarization plans for a long time now while looking for an alternative reserve currency further put force behind this news. This got the crypto enthusiasts excited as this would have meant huge investment into the crypto market and that too directly from the government.

However, this might not be happening at least, any time soon, as the Russian news channel, Forklog, published an article quoting Elina Sidorenko, the chairperson of an interdepartmental working group of the State Duma for managing risks of cryptocurrency turnover, as saying,

“Under this statement, there is not a bit of common sense, much less ideas that would be considered in government circles. The Russian Federation, like any other country in the world, is simply not ready today to somehow combine its traditional financial system with cryptocurrencies. And to say that in Russia this idea can be implemented in the next at least 30 years is unlikely to be possible.”

She further pointed out that given the fact that there is lack of any legislative regulation of cryptocurrencies in the territory of the Russian Federation makes what Vladislav Ginko, a teacher at the Russian Academy of National Economy and Public Administration under the President of the Russian Federation, said sound absurd.

“Even if Russia wants to place its cryptocurrency assets now, it simply cannot do this, due to the fact that we do not have any mechanisms that would allow us to introduce a system, where these assets would be stored, which authorities would be responsible for it, which would be responsible for abuses and stuff. Such a model under the current criminal, financial and civil legislation, in general, does not fit. All over the world, a cryptocurrency is considered as a high-risk asset and a similar model, naturally, would not suit anyone.”

However, Sidorenko does note a different way to solve this issue which she states is the only way to use digital assets at the state level.

She says an interstate cryptocurrency can be created that would then become a unified system of payments between countries.

“A similar idea is already being considered within the framework of the EAEU, but the BRICS countries have moved closer to it. If a cryptocurrency unit had been invented, which allowed making payments only for energy, in fact, the Russian Federation could have made a long and long-term advance in the economy.”

Just recently, Russian Prime Minister Dmitry Medvedev talked about cryptocurrencies and their volatility being a cause for concern while acknowledging the fact that it has its own benefits that can’t be cast aside.

“But this, of course, is not a reason to bury them [cryptocurrencies]. Here […] there are both light sides and dark sides, as in any social phenomenon, in any economic institute. And we should just watch closely what happens to them.”
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This Just In, Europe is Bullish on Bitcoin According to Binance Seeing Massive Registrations in EU



Binance has launched its European services only a day ago and the wave of registrations are already massive. With its new platform in Jersey and offering the British Pound (GBP) and Euro (EUR) trading pairs with Bitcoin (BTC), Binance has just seized a huge market. In less than 24 hours, the exchange’s European division is already full of new clients.

Changpeng “CZ” Zhao, the founder of Binance, has affirmed that the company is “overwhelmed” with so many people registering and that there is a backlog of Know Your Customer verifications that have to be made before whitelisting so many people.

He affirmed that they underestimated the market and did not believe that so many people would want to register so quickly, so the systems are running slightly slow for the moment.

Despite Bitcoin dropping around 80% in price in the last months, a lot of people are still interested in it and this is the ultimate proof of that. The efforts of companies like Binance which are in the process of continuous expansion, are actually paying off and are facilitating mainstream adoption little by little.

What is sure is that Binance will have a stiff competition in Europe. Many key players are already in the country, so it will be hard to carve out some space in this new market, but it looks like things are going smoothly, at least in the first 24 hours. Coinbase and Bitstampare two of the most important competitors that CZ will have to face in order to establish Binance in Europe as a winner.

According to the CFO of Binance, Wei Zhou, though, Binance’s expansion into Europe is good for the whole industry. He says that fiat to crypto “ramps” are critical for people to enter the market as new users will not buy crypto with crypto.

Because of this, Zhou believes that this will provide new important opportunities for both the company and the whole market as well and that they want to create a real channel for people in Europe to enter the crypto world just like a lot of people are doing in the U.S. and in Asia.

It is also important to notice that Binance really needs to up its game if it wants to be relevant in 2019. In 2018, Binance was the king of the market and companies like Coinbase had to watch it, but 2019 will be the year in which companies like Bakkt, the crypto exchange and liquidity provider created by the Intercontinental Exchange (ICE) will be in the field.

With large corporations from Wall Street entering the game to win, Binance has to evolve and grow or it may lose its place in the market and be left behind.

What To Expect From Europe?

While Europe already had a Bitcoin market way before Bitcoin exploded into the mainstream, its growth is somewhat slow when compared to Asian markets, for instance. According to data which was taken from CryptoCompare, the whole daily volume of Bitcoin in Europe is less than 4% of the world volume and the whole Europe ranks behind both the U. S. and Japan.

If Europe’s market will grow, 2019 is probably the year for it. During most of the year, the country had regulation problems and has seen a slow improvement in its crypto economy. Now, however, Binance is eyeing this market, so we may see some significant growth this year.

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Cryptocurrency Investors in India Are Fighting Back in the Name of Having Their Bank Accounts Closed



India, the land of one of the oldest civilizations, has existed for thousands of years. To survive for so long, one needs great tenacity and a certain acceptance of fate. There is also an ability that is colloquially known as ‘jugaad,’ the closest English equivalent is a hack. So when Banks in India started to close the accounts of customers thought to be involved in crypto trading, people found simple jugaads to bypass the scrutiny.

Banks Caught In A Bind

While the Supreme court of India has yet again postponed the hearing of its case pertaining to Cryptos, Banks have gone ahead and implemented the central banks, the Reserve bank of India, directive. Compliance to the circular requires the banks to effect bans and deny services to customers or businesses that are found to be dealing in digital assets.

Thus banks are required to close accounts that might have made crypto related transactions. This means they are expected to carry massive sweeps on their customer base and check on how people are spending their own money.

To make things worse most people savvy with these things, have already found ways to circumvent the banks screening and workarounds to avoid account closures.

How Do The Users Avoid Account Closures?

According to Instashift, a local cryptocurrency exchange, banks are closing accounts based on a simple search of any cryptocurrency-related words in the transaction remarks. This means that when a customer’s bank account is being scrutinized by a banking official, they are looking for keywords such as crypto or bitcoin in the remarks. If found the account is most likely to be closed off.

As one would imagine, the solution is to just not leave such notations. As Nischal Shetty, the CEO of Wazirx explained,

“Majority of the people understand not to enter such terms in the remarks. So simply avoiding entering anything related to crypto in the payment remarks is more than enough to avoid any problems from banks.”

He went on to suggest that the banking system has no verifiable method to confirm if a P2P transaction was used for crypto or non-crypto purposes.

Echoing the exact sentiment many Indian twitteratis are posting similar suggestions. A user, Cryptomanic has suggested

“Use P2P without writing anything related to crypto in remarks. And don’t do heavy transactions.”

Another one, Vivekmacha, concurs and advised for making use of P2P, as it cant be tracked. He further repeated the importance of making sure no crypto- related terms are noted in the remarks, for any reason.

More Than Enough Options On Offer

A solution that has been gaining in popularity recently is P2P, exchange-escrowed peer-to-peer style of trading. The popularity is unsurprising, ever since the central bank initiated the ban on digital assets and more and more crypto exchanges in India are gravitating towards offering this type of trading.

Another simple solution offered is to open another account. An Instashift spokesperson suggested that if crypto users have their accounts closed, they can simply start “a fresh account in another bank.” With the new account, they merely need to be more cautious and ensure that if they are trading, they do so without using any crypto terms that might draw attention.

Since all bank accounts are created using a Permanent Account Number, Indias water-downed version of the US social security number, the same person opined

“It’s easy to open a new account for a person in India & banks also welcome people to open accounts.”

Rigorous Action By Multiple Banks

The closing of accounts is, unfortunately, not an isolated instance, with many people reporting problems with banks, big and small, closing accounts which shows any crypto activity. Kotak Mahindra Bank, the banking branch of a major Indian industrial family and Digibank, a bank backed by the powerful Asian financial group, DBS, recently made the news. They have been sending letters to their customers advising them of impending account closures. One person affected by this took to Twitter.

Indiancryptogirl posted letters she says were sent to her. The letter simply stated that it had found some transactions with brokers who dealt in virtual currencies. As India did not consider such transactions legal the bank was

“constrained to place a credit freeze in your account. Further as per the extant guidelines, we are required to exit such relationships where transactions with brokers/traders, dealing in virtual currencies are observed.”

The letter ended with the notification that

“Hence 30 days from the date of this communication your account will be closed by the bank.”

This is not an isolated incident of some bank targetting customers with an affiliation for cryptos, numerous such cases have come to light in the recent past. Telling a similar story is Pushpendra Singh, who banks with the smaller UCO bank, but claims that this same modus operandi was followed there as well. A similar complaint reverberated in the words of Bluecrypto on Twitter who said,

“the same happened to me and my HDFC account got closed.”

Not only that, but most Banks now also follow a similar policy like Standard Chartered bank which explicitly requires, those who are looking to open an account in India to specifically agree to not engage in any sort of dealings in digital assets.

The issue of banks deciding for their customers how they can spend their money is in the front and center of this story. However, as Yatharth Vashishth pointed out, that banks are not the sole bearers of this burden as they are only following RBI’s order.

“Bank is acting as per regulations by the RBI. All banks are instructed to shut accounts of all entities dealing in crypto. ”

It does appear that banks are hapless and forced to toe the line, set by the central banks and, many suspect, a government not trusting the technology. While one can hope that the nations notoriously lethargic judicial systems come to the rescue, it is already clear that the second most populated country on the planet is working on hacks to join the crypto marketand blockchain revolution.

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