Our valued sponsor

UAE OTC crypto traders. Need to buy USDT

how do people buy crypto in Dubai in general? do they send to an exchange from local bank? Does FAB allow it? I was buying from a local OTC seller via binance and FAB sent me a message asking about these transactions.
They mostly pay by bank transfer. Some trade in cash with some seller.

If small amount, I think no problems.

How much you send in the case bank asking you?
 
Do you have a solution with banks and OTC now? I'm planning to move to Dubai and would need to buy crypto on a regular basis as well.

I'm thinking about forming a UK LLP with the FZ company, using the UK LLP to get a EMI in Europe and find a OTC in europe, do you have a better solution?
first Dubai will cease to be 0% with corp tax
second, banks in Dubai are not crypto friendly, they will close your account if you mention crypto and they will ask where do you send the money
 
I'm fine with 9% CIP to start with.

What do you think to form the UK LLP 100% owned by the FZ company and me? Could it solve the banking issue with crypto?
any time you send money to someone your bank may ask for contract and invoices. If you mention crypto, your account will be closed. You may want to reach to OTC crypto sellers and ask what they advice. Please update us when you know something
 
Normally (traditionally speaking) from a commercial perspective.

Retail uses exchanges.
Corp/Commerce uses OTC.

It's somewhat hard for retail to get access to OTC... due to the sheer amount of KYC/AML that has to go in, having said that many exchanges have an OTC desk which has the user verified on their retail side and covers them on the OTC side..

So probably look there.

We have access to use a OTC via exchange for example (commercial).

I'm unsure what the CIP thing is but basically our fees are like 0.28% and that's via a regulated entity.
 
Normally (traditionally speaking) from a commercial perspective.

Retail uses exchanges.
Corp/Commerce uses OTC.

It's somewhat hard for retail to get access to OTC... due to the sheer amount of KYC/AML that has to go in, having said that many exchanges have an OTC desk which has the user verified on their retail side and covers them on the OTC side..

So probably look there.

We have access to use a OTC via exchange for example (commercial).

I'm unsure what the CIP thing is but basically our fees are like 0.28% and that's via a regulated entity.
Thanks for sharing, do you use a UAE bank to pay for the OTC, and if yes, does that raise any issues from the bank?

Could you also DM me the name of the OTC please?
 
  • Like
Reactions: NgonBoRe

Latest Threads