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How to Buy USDC in UAE
As mentioned above, the easiest and safest way to buy USDC in Dubai is with the Rain exchange. Their platform offers instant and cheap AED deposits to buy and sell USD Coin (USDC) with zero fees and tight spreads. They are a Shari'a compliant and licensed cryptocurrency exchange based in Bahrain and licensed throughout the Middle East.
You can get started in 4 simple steps with this guide:
- Sign up to the Rain.com platform and verify your personal or company details.
- Deposit AED or an other currency via Bank Transfer, Debit Card or Credit Card.
- Find USD Coin 'USDC' on their platform to make a purchase.
- Input the AED amount you want to buy and execute your trade.
Is USDC Legal in the UAE?
As a stablecoin, USDC is considered to be a digital asset and is subject to the laws and regulations governing digital assets in the United Arab Emirates (UAE). This means that USDC is legal and treated the same as other cryptocurrencies like Bitcoin and Ethereum by the Dubai Financial Services Authority (DFSA) who are responsible for regulating financial services in the Dubai International Financial Centre (DIFC).
What is USDC?
USDC is a type of cryptocurrency known as a stablecoin. Stablecoins are digital assets that are designed to have a stable value, typically tied to a fiat currency such as the US dollar. USDC is one of the most widely used stablecoins and is issued by the Centre consortium, which is backed by Circle and Coinbase.
USDC is designed to be a reliable and stable store of value that can be easily traded and used in transactions, similar to the way that traditional fiat currencies are used. It is intended to offer many of the benefits of cryptocurrencies, such as fast and low-cost transactions, while avoiding the volatility that is common among cryptocurrencies such as Bitcoin and Ethereum.
Final Thoughts
Buying USDC in the United Arab Emirates is easy, safe and secure with Rain.com. They are a licensed crypto exchange in the United Arab Emirates and are based in the Middle East. The Rain platform is also one of the only exchanges that offers zero fees when buying or selling USDC with AED or other fiat currencies.
