The UAE is known around the world as a state with a high standard of living, but in recent years this opinion has been reinforced by the consistent development in the field of cryptocurrency. While other states have not yet accepted or started to use the virtual assets, the UAE is becoming the capital of the blockchain and is calling on the country's central bank to explore the digital assets due to their growing influence on the global financial market and cooperation with especially sought-after currencies, such as Ethereum.
Despite its progressive outlook towards cryptocurrencies, the UAE does not create unnecessary risks and strives to protect bank users by ensuring complete data confidentiality and financial preservation. To this end, three large organizations have been established in the UAE that regulate cryptocurrencies in accordance with local laws: FSRA (Financial Services Regulatory Authority), SCA (Securities and Commodities Authority) and DFSA (Dubai Financial Services Agency). This approach provides an increase in the number of not only average Ethereum holders, but also wealthier clients around the world who begin to transfer finances to UAE banks.
To buy digital currency, a user can use the exchange platforms that cooperate with the banks around the world. Below you will find the instructions on how to purchase cryptocurrency on the Itez service
In order to buy Ethereum, it is not necessary to register on the Itez website. In a handy calculator, you can quickly calculate the cost of ETH based on the amount you plan to use for payment. The smallest purchase amount in dollar terms is 30 USD. By the way, the same applies to the euro - the starting purchase threshold starts at €50. Well, in our instructions, as promised, we will go through all the stages of purchase ETH for dollars step by step.
After converting the currency to ETH, you will see the final result in the "You Get" field and on the "Buy" button. Click the button and enter your email address in the following window.
Confirm your email with a 6-digit code sent to the previously indicated e-mail and click the "Verify" button.
Specify the purchase amount in the Itez dialog box. Copy the recipient address - your Ethereum wallet - from the “Accept” section.
Important: you should not manually copy the Ethereum wallet address. The blockchain system does not give any information about Ethereum addresses problems, and if an error occurs during manual entry, all the buyer's funds may be lost.
For example, this is how the copy address button looks like in the Exodus wallet:
After copying the Ethereum wallet address, paste it into the dialog box.
Check your data — it is important to make sure that the address is entered correctly.
After pushing the “Card details” button, enter the required card information: card number and expiration date, the cardholder name and CVC-code — three numbers on the back of the card.
Push the “Pay” button and enter the one-time bank code in the following window.
After making a payment on the Itez website, you will immediately be able to see the Ethereum in your wallet.
The transaction will first wait for confirmations from the blockchain network.
On the Ethereum network, confirmation is quite fast and in most cases takes no more than a few minutes.
The most popular and well-known banks in the UAE are the largest bank ‘First Abu Dhabi Bank’; successful in retail banking and information technology ‘Emirates NBD’ and providing retail banking and asset management services, the oldest bank, ‘Mashreq’. In addition, Ethereum holders receive support from the Islamic banks Dubai Islamic Bank and Abu Dhabi Islamic Bank, as well as various international banks that cooperate with cryptocurrencies.
Traditionally in the UAE, cards of the international payment systems Visa, MasterCard and American Express are used. Recently, the Russian payment system Mir, which has earned the trust of the local banks, has also been included in this list. In addition, all the clients can use the services of the local maps, which further increases the number of users. Each of the systems has created a friendly environment regarding the interaction with the digital assets, making the purchase of Ethereum even easier.
How to store: In order to prevent attackers from being able to privatize the cryptocurrency of honest users, the electronic wallets were created to store Ethereum. Below is a list of some of them:
MyEtherWallet is the most famous storage wallet; Mist is a cold desktop wallet with a built-in exchange for US dollars and support for storing coins with access to trusted users; Ledger Nano S with the ability to connect a hardware Ethereum wallet to a smartphone or personal computer; Jaxx is a wallet that allows to store cryptocurrencies with access through a browser extension, desktop client or smartphone and tablet app; Metamask which is fast and convenient to use and allows to store the keys on the user's personal computer.
Itez is an instant ethereum purchase resource. Itez is a certified operator holding a license to sell and store cryptocurrencies of a financial regulator from Estonia. What does this give to customers?
First of all it is safety, since the operator is fully responsible for the risks. He conducts a compliance check, provides cryptocurrency on time and is always in touch with customers, if the need arises. Secondly, it`s efficient. The time of receipt of Ethereum to the client's account is no more than a minute). Thirdly, the service offers to customers a favorable exchange rate. Rate changes occur in accordance with the liquidity provider's information, therefore, the ETH value on the Itez website is as close as possible to the market value. The site has no hidden fees as the final ETH, USDT value is displayed instantly. If the purchase price does not exceed € 300, then the buyer does not need verification.