BitOasis Expands Bitcoin Trading to the Middle East

How is the market for Bitcoin in the Middle East? The credit card penetration rate in the region is very low. Most adults in the Middle East do not have a bank account. Online merchants can only accept cash payments, which is very inconvenient. In fact, 75% of online transactions are completed with cash payments. Moreover, merchants often have to pay a 3%-5% handling fee when accepting credit card payments. Not only that, they also have to bear the risk of fraud and rejection. Under such circumstances, Bitcoin, with its unique transfer function and low transaction fees, will provide great convenience to consumers and merchants in this region and promote the development of the e-commerce market in this region.

Bitoasis   Is a Dubai-based bitcoin startup founded in May this year, providing users with bitcoin wallet and bitcoin trading services. Recently, the company announced that it will expand its business to the Middle East, including Kuwait, Bahrain, Qatar, etc.

Ola奥拉.浢丁, co-founder of Bitoasis, said:

“We have received a lot of feedback from consumers in the Middle East who would like to purchase digital currencies through the Bitoasis platform.”

Ding said that the Bitoasis platform currently has nearly 20,000 users, and they plan to expand their business to Saudi Arabia and Egypt in the future. In addition, he also said that Bitoasis is seeking to develop other business models to provide new products and services to merchants and businesses that accept Bitcoin.

“We hope to roll out more features, along with partnerships with payment processors in the region to make it easier for merchants and SMEs to accept and spend Bitcoin, as well as a new mobile app in the future.”

Original article: http://www.coindesk.com/bitoasis-expands-bitcoin-purchases-in-the-middle-east/
By Yessi Bello Perez
Compiled by: printemps
Source (translation): Babbitt Information