How to buy Bitcoin? ... Learn about its prices in the Arab countries
Bitcoin is in the global reach of investors, after breaking unprecedented records.
The digital currencies, led by the most popular currency, Bitcoin, live in a directional phase, as it ended 2020 with a gain of 300%, before jumping in the first week of 2020 by nearly 25%, to break one bitcoin barrier of $ 37,000 during Thursday morning trading.
It was the first time that digital currencies appeared in the world during the period following the global financial crisis in 2008, and then emerged strongly during the last three years.
And digital currencies are virtual or encrypted and used as a means of exchange away from digital currencies, and here is how to buy Bitcoin:
Create a Bitcoin storage wallet
The first step before buying Bitcoin is to create a wallet to store digital currency, which is a special keys or code used to access Bitcoin's address so that you can use it in any other transactions.
And you should know that without the code, you will not be able to access Bitcoin, and there are several types of wallets as follows:
1- Computer wallet, as it allows full control of funds and their relative safety.
2- A mobile wallet that is characterized by the ability to pay for any commodity by scanning QR codes.
3- Internet wallet, where the use keys are stored on a server connected to the Internet, but it can be hacked, or the organization running the service seizes the digital currencies
4- Devices wallet: These are portable devices designed to enter currency keys on them
5- A paper wallet consists of two QR codes, the first code is a public key that is the address used to receive Bitcoin, and the other is a private key used to spend stored currencies.
ATM machines
There are some cities in the world that provide ATMs to buy Bitcoin for a high commission ranging from 3 to 8%, along with the exchange rate.
Gift cards
Any gift card can be purchased and then you log into one of the bitcoin exchanges where some sellers accept these cards such as Backsful and Local Bitcoins.
Stock Exchanges
There are exchanges to buy Bitcoin, but you have to make sure that they are subject to government regulation, and they comply with the requirements of "your strangest customer" under anti-money laundering rules.
Bitcoin continues to rally after a breathtaking timeout
In light of this, there must be an existing bank account through which to deal with these exchanges, which differ in terms of payment options, security levels, purchase limits, fees, and identity verification requirements.
Among the most popular cryptocurrency exchanges are Bitfinex, BitFlyer, Bitstamp, BTCC, Coinbase, GDEX, Jimny, EatBet and Kraken.
investment funds
The issuance of bitcoin investment funds is still not common, and the Bitcoin Investment Fund (BIT) emerged the first of its kind, through which documents issued by the fund could be issued and represented the value of parts or a number of Bitcoin.
Can I buy a part of Bitcoin?
Like any currency in the world, Bitcoin is divided into smaller units, allowing part of the currency to be bought. The smallest value is given to "Satoshi", and it was named after "Satoshi Nakamoto", the creator of Bitcoin.
Each Bitcoin can be divided into 100 million "Satoshi". Another common unit is the "μBTC" bit, which is about one in a million parts of Bitcoin.
Bitcoin prices in the Arab countries
UAE
135.766 thousand dirhams
Saudi
136.665 thousand riyals
Kuwait
11.203 thousand dinars
Amman
14,212 thousand riyals
the two seas
13.932 thousand dinars
Jordan
26.283 thousand dinars
Egypt
580.286 thousand pounds
Sudan
2.043 million pounds
Morocco, West, sunset
326.4 thousand dirhams
Tunisia
99.366 thousand dinars
Algeria
4.901 million dinars
