Dubai-based cryptocurrency exchange BitOasis is accepting new submissions of new account verifications on Tuesday, January 30 – for one day only.
Increase in interest in cryptocurrencies in the UAE has spiked in the last 12 months, meaning exchanges such as BitOasis have been flooded with applications for verification, which is required to trade in volumes higher than AED400.
Any new users wishing to purchase Bitcoin and Ethereum from the site must enter bank details, ID and proof of address before transactions more than that amount are enabled, a process that has created a backlog.
The move coincides with the ability to purchase Ripple (XRP) tokens on the platform, which also goes live today.
“As one of the largest and fastest-growing companies in the blockchain space in the region, we’re committed to providing our customers with a secure way to buy and sell Bitcoin, Ethereum and now, Ripple,” the company said is a statement on Sunday.
New users have until midnight to submit their documents for verification. Logged-in users will be able to submit any new verification request by clicking on the “Increase Limits” page on the “Buy Bitcoin” tab, a blogpost from the company said.
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