In case you haven't already heard, cryptocurrencies like Bitcoin are changing the entire financial universe in ways that we cannot even fully imagine. We know that it has been around since 2008 officially, but it has only begun to take hold in certain areas as laws change and open up to the use of cryptocurrencies. You may take a quick look around the Internet and see that there are multiple accounts of traders making literally millions of dollars in profits as a result of trading in Bitcoin and other digital currencies. This makes so many want to know what they can do to start to get involved.
Bitcoin Era is a great example of one type of software that some traders are using to make their massive profits. This software is specifically designed to spot trends in the trading charts of Bitcoin and alert traders to what they should be doing. There is also an automated trading portion of Bitcoin Era that puts the whole process into auto-pilot.
Build With The Brains Of Experts
This software was not merely thrown together in order to start generating a profit. Rather, a group of experts got together to come up with the ideas for how this software should work, and then they put it into motion. They drew up an algorithm that could determine when prices appeared to get too high or too low. They did this based on the huge amount of data that the Bitcoin market throws out at any given time, but also based on their own expert experiences trading the markets.
You don't have to know anything about digital currencies to use Bitcoin Era , and that is what makes it so appealing. There are people getting involved with the software who have had no prior trading experience at all. This does not preclude them from making a large amount of money though. They can use the automated portion of the software to generate their profits.
Is Bitcoin Trading Legal In The UAE?
The United Arab Emirates or UAE as they are known as been a leader in Bitcoin trading since it first came out. Recently, the government went so far as to announce the 2021 UAE Blockchain Strategy. They are serious about getting involved in cryptocurrencies and beating the rest of the world to the punch on this.
The regulators in the UAE for products like this are know as the Financial Services Regulatory Authority. This group looks over the Abu Dhabi Global Markets. This global market place rests squarely in the Abu Dhabi free zone. What that means is that it is not restricted by the same native Islamic laws that govern so much of the rest of the country. Thus, the trading of digital currencies is permitted, and foreign travelers feel welcomed and able to go about their business. It is a unique system set up to handle the unique challenges and obstacles that can exist in parts of the UAE, but it works for the people there.
In 2018 the Financial Services Regulatory Authority issued a report that would go on to regulate the crypto asset business operations within the country. That was very important because it legitimizes the digital currencies that are trading, and it also makes sure that those trading are in compliance with anti-money laundering efforts and with anti-terrorism efforts as well.
A recent partnership between the UAE Exchange and a San Francisco company called Ripple. The purpose was to allow cross-border payments in real time via the blockchain. It has helped to cut out the administrative costs for both companies, and they both seem very pleased with the structure that they have worked out between themselves.
It is easy to tell that the UAE is serious about the future of digital currencies simply by taking a look at the report that they put out for the blockchain strategy for 2021. There are not many world governments that have gone out of their way to make sure they have a plan in place to work out the bumps in the road related to digital currencies and the blockchain. The UAE wants to show the rest of the world how it is done, and releasing a detailed plan of what they intend to do has given residents and foreign traders some ideas of how this is going to work.
There is still some uncertainty on issues such as taxes and the legal status of cryptocurrencies in certain parts of the country. The practice of buying and selling Bitcoin is tolerated according to most experts. There is not going to be a prosecution of someone who is found to be trading these currencies in the UAE. It is expected that more clarity on the issue will be presented in the years to come.
The easiest way to get started investing in Bitcoin in the UAE is to use Bitcoin Era . It is easy to sign up, and the software gets to work right away with automated trades and recommendations on how to trade wisely given any market condition.
You only need to register for an account and make your initial deposit to get started. The software itself is free to use which is a major upside to this program.
Some of the best digital currency brokers on the planet have partnered with Bitcoin Era to allow users of the software to select from those brokers to figure out which one they would like to use the most. That is great because it puts power back into the hands of the traders. At the same time, it means that they are only exposed to brokers that can actually be trusted. There are a lot of scam artists out there after all.
The initial deposit to get started is $250. This is a requirement put in place by the brokers. However, it is possible to trade for as little as $25 once you have your money in play. You may decide to link those funds up to Bitcoin Era to get the auto-pilot trading system going. That is a great way to start earning money on that deposit. You will always be in complete control over when you withdrawal your money, but the funds are locked up for trading purposes until you give the word that you want to withdrawal them. The good news is that it is easy to get your money withdrawn once you are ready to do so.
Sheikh Mohammed and Bitcoin Era
The Crown Prince of the UAE, Sheikh Mohammed bin Zayed has announced a stimulus package for the country to the tune of Dh50 billion dollars in for Abu Dhabi specifically in June of 2018. That was before the COVID-19 outbreak and the possible need for more stimulus money down the road.
The purpose of this package was for the officials in the area to achieve long-term financial goals that they have for the residents and investors in Abu Dhabi. They hope that the money will help streamline business and make everything even more tourist-friendly.
There are ten major incentives that the government of the UAE wants to work on to help improve economic conditions in the next three years. One of the pillars of that plan is to improve the blockchain technology that exists in the country. They want it to be more seamless than ever. There are other goals as well such as improving regulations around buildings and getting more people the ability to work from home if they choose. All of these ideas are wildly popular with the domestic population, and they all seem reasonably easy to convince people are the right thing to do. The government just has to step up and put these plans into action now.
It is fairly obvious that the UAE is pulling no punches when it comes to getting involved with the cryptocurrency world. They are so excited and eager to show the whole planet that they are a modern country with the ability to adapt to new technologies and even lead the way on certain earth-shattering new changes. There is a lot of investment coming from the very top, and there is no reason to assume that this is going to stop anytime soon.
Those who are not already familiar with the UAE and the role that it is playing in global finance really need to get caught up on this. It is not a place that can be ignored, and it is not something that you want to miss out on if you are a serious trader looking to make profits in cryptocurrencies wherever you go to trade around the planet.
It is imperative that you check out the rules and regulations regarding Bitcoin and other cryptocurrencies for various countries. That information can prove to be invaluable to those who are working on ways to grow their funds smoothly. Sometimes, taking a little extra time to learn the ins and outs of the cryptocurrency world can be exactly what you need to have a more diversified portfolio.
Anton is a finance graduate and crypto enthusiast.
He specializes in market strategies and technical analysis, and has been interested in Bitcoin and actively involved in the crypto markets since 2013.
Apart from writing, Anton’s hobbies and interests include sports and movies.