According to recent data, the Middle East and North Africa (MENA) region has had the highest cryptocurrency adoption rate compared to other regions in the past year. The 2022 Geography of Cryptocurrency Report by Chainalysis reveals that users in the Mena region received $566 billion in cryptocurrency from July 2021 to June 2022. This marks a 48% increase from the previous year. Evidently, the Middle East has seen a surge in the cryptocurrency industry, with several countries in the region adopting digital assets to boost their economies and draw in investments. As a result, they have seen a rise in the percentage of crypto exchanges. Each exchange provides distinct features and services customized to meet its users’ specific requirements.
Leading Cryptocurrency Exchanges In The Middle East As Of 2024.
Nexo
Nexo has worked to introduce expert financial services to the realm of digital assets since 2018. Nexo combines the team’s expertise in FinTech with blockchain technology to enable millions of individuals to use the value of their crypto assets, thereby contributing to developing a more advanced financial system. Nexo allows its users to earn interest on their crypto and stablecoins daily. With Nexo’s crypto credit lines, you can quickly borrow funds using your digital assets as collateral. Most importantly, the Nexo platform has a high-quality security infrastructure that constantly provides the utmost protection for assets. Their risk assessment is impeccable, and they prioritize data protection and state-of-the-art cybersecurity measures.
Read : Digital Currency vs Cryptocurrency: A guide
BitOasis
Founded in 2015, BitOasis is a well-established cryptocurrency exchange in the Middle East. The headquarters of the exchange is in Dubai. With BitOasis, users enjoy purchasing digital assets safely and securely. They can deposit AED fiat currency using their personal debit or credit card. You can also quickly deposit funds using their debit or credit card and begin purchasing digital assets. Other services include being able to transfer your funds to your personal bank account as well as keeping track of changes in the digital asset market by viewing real-time prices and charts. At BitOasis, they use the right technology to ensure the safe and secure buying, selling, and trading of digital assets. The platform employs multi-signature wallets and 2FA authentication in order to safeguard their user accounts.
HollaEx
HollaEx® is a cryptocurrency toolkit that offers more than just a white-label exchange. This tool lets you easily link your business to the blockchain world and establish your own markets using personalized coins on your website. By being an open-source solution, it is both free and easy to rebrand and customize quickly. Users who pay for HollaEx will receive a cloud exchange that is automatically hosted, resulting in a quick time-to-market. The pricing model is pay-as-you-go, and yearly subscriptions can save you up to 45% in costs. This option is ideal for individuals involved in cryptocurrency entrepreneurship and self-funded startups. HollaEx is an all-in-one exchange kit with automatic coin deposits, real-time price charts, an order book, and trading features. It also has built-in liquid markets for major markets, allowing users to easily buy and sell cryptocurrencies.
Conclusion
The Middle East’s crypto exchange scene is rapidly growing and evolving, with new players always entering the market. These three exchanges are well-known and reputable in the area. They each have their distinctive features and services designed to meet their users’ needs. These exchanges are certainly well worth checking out.
