Coinsfera, the global over-the-counter(OTC) digital asset trading platform, announced that it allows users to buy or sell stablecoin USDT in Dubai over OTC.
Users can now purchase or sell USDT in cash directly by visiting the Coinsfera crypto OTC desk without the need for a bank account or credit card.
Coinsfera is an exchange for buying and selling cryptocurrency with cash in Istanbul of Turkey, Dubai of UAE, Kosovo of Prishtina, and so forth.
Due to the recent market volatility, crypto investors are largely looking to sell their holdings of BTC, Ethereum, and other cryptocurrencies and buy USDT to keep their assets in a stable currency and avoid market volatility.
Tether (USDT) is a cryptocurrency with a value meant to mirror the value of the U.S. dollar.
Users can contact Coinsfera via Whatsapp or phone, and a staff member will arrange a meeting. This service is available across the UAE.
This is a big deal because it opens up a whole new world of possibilities for those who want to capitalize on cryptocurrency profits.
According to the exchange, customers only need to bring their ID or passport to use Coinsfera’s services. Tourists only need to bring their passports to buy/sell USDT at the OTC counter.
Instead of buying Bitcoin or Ethereum first, they can sell USDT directly for cash. This will be especially helpful for those who want to use cryptocurrencies for local payments or remittances.
With Tether, they will be able to avoid the high fees associated with traditional banking methods.
Dubai is more than just a well-known tourist destination in the world but also aspires to be the global financial centre in the Middle East. Dubai comes off as one of the latter with the slew of licenses being granted to cryptocurrency exchanges. As reported by Blockchain.News, OKX, one of the leading crypto exchanges in the digital currency ecosystem, is one of the latest in the industry that has just been given the green light to operate in Dubai.
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Source: https://blockchain.news/news/coinsfera-enables-users-to-trade-usdt-in-uae-through-otc