DubaiCoin is a new cryptocurrency that was recently launched. Since its inception, DubaiCoin has gained a lot of traction, with its value increasing by more than 1000 percent in just 24 hours. DubaiCoin was created on a public exchange and is presently only available on a few exchanges. Continue reading to learn more about DubaiCoin and how to purchase it.
How to buy DubaiCoin?
DubaiCoin is not currently accessible on any major exchanges. Interested investors who want to buy DubaiCoin will have to do so by exchanging it for Bitcoin or Binance Coin on exchanges where DubaiCoin is available. At the time of writing, Dubaicoin was available for purchase on the following exchanges: HitBTC and Cryptopia. However, DubaiCoin is a relatively new cryptocurrency, and investors are advised to investigate the coin's legitimacy before investing in such a brand new project.
How and where to buy DubaiCoin?
Arabianchain Technology, a company based in the United Arab Emirates (UAE), launched DubaiCoin. DubaiCoin is the first public blockchain-based cryptocurrency in the Arabic world, according to the company. The cryptocurrency was trading around $0.17 when it was released, according to Crypto.com, and the price of DubaiCoin surged up to $1.13 in just 24 hours.
Arabianchain Technology, the firm that invented the coin, said in a news statement that Dubai Coin will be used to pay for a variety of goods and services both in-store and online, with the clear purpose of replacing traditional bank-backed currencies. The company also stated that the new digital currency's circulation will be regulated by both the city and authorised brokers, hinting that the Dubai government is also interested in this coin.
However, a Dubai authority refuted this claim, claiming in a tweet that Dubai Coin has never been approved by any official Dubai entity. They also referred to the Dubai Coin promotion webpage as "complicated." The official tweet can be found below. As far as we can tell, Dubai Coin is not endorsed by the Dubai government.