How to buy Bitcoin and other cryptocurrencies in Arab countries, the Middle East and North Africa
The crypto sector has witnessed a boom in growth and increasing popularity over recent years and has contributed to creating a lot of opportunities for traders who want to benefit from market price movements.
Let's first talk about what cryptocurrencies are
What are cryptocurrencies or digital currencies and how do they work?
In the era of speed, development, and wide openness of the entire world, which has contributed to increasing the demand for goods, especially technological ones, and making cross-continental payments, an urgent need has emerged for fast, safe, and reliable means of payment, and with the emergence of the blockchain and BTC, which, despite the doubts that swirled around it in its beginnings, it has... Widespread popularity So what are cryptocurrencies? How does encrypted or digital currency work?
It is a virtual currency, meaning it does not have a tangible physical entity. It exists only in an online network called Blockchain. In addition, it loses the characteristic of centralization, meaning that it is decentralized and exists outside the scope of traditional banking and outside of any authority such as banks and states, and this is the most important thing that distinguishes it from traditional currencies, but it can still be traded like any other currency. As we mentioned, cryptocurrencies are considered a type of digital money without a central authority, which means that there is no single person or institution that controls or controls them.
This idea is similar to a peer-to-peer file sharing network, in the sense that everyone on the network shares files, and they are not stored on just one computer.
How to buy digital currencies
Trading platforms are considered a major place to buy digital currencies, but before we discuss the steps, we must first learn about how to choose the most appropriate platform that meets our needs first, in addition to security, reliability, speed, simplicity, transparency, efficiency, and finally liquidity. All of these qualities and more are available on the Binance platform, which is the strongest platform in the world in terms of trading volume, security and protection.
Here are the next steps on how to buy Bitcoin and other cryptocurrencies in Arab countries, the Middle East and North Africa
After we discussed how to choose the most appropriate platform, we will explain how to purchase through the Binance platform, which is a central trading platform that allows you to purchase a variety of digital currencies, including Bitcoin.
First you will need to open an account and verify your identity
Secondly, you will need to fund your account, and these are the ways to charge your account in Binance
a. Via credit/debit card
Apple Pay, Google Pay, or purchase directly from other users via P2P
Choose the method you want to use to purchase from the above options available to charge your account in your country.
After you charge your account, you can easily switch and move between different digital currency pairs.
Save or use digital currencies on Binance Now that you have purchased your digital currencies, you can save them in your personal digital currency wallet or simply hold them in your Binance account. You can also trade them against other digital currencies for the purpose of speculation or store them on the Earn Binance platform to generate passive income. If you want to trade your cryptocurrencies to a centralized trading platform, you may want to check out Wallet Trust, which supports millions of assets and blockchains.
In conclusion, this market involves a lot of processes and terminology that can be complicated for both beginners and experienced traders alike. Therefore, it is necessary to know how the market works and how to trade cryptocurrencies before participating in the market, and this is what we will discuss in other upcoming posts, so do not hesitate to follow us.
