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1 BTC = 3,351.49 AED

Frequently asked questions

1) What is BitOasis?

BitOasis is the first digital currency wallet and exchange service in the Middle East that enables you to buy, sell and secure bitcoin.

2) How do I create my bitcoin wallet and exchange account on BitOasis?

You can go to our BitOasis platform and create an online wallet. After creating your account, you can immediately start sending and receiving bitcoin around the world. All users have access to BitOasis wallet features. However, only users from United Arab Emirates (UAE), Saudi Arabia (KSA), Kuwait, Bahrain, Qatar & Oman are able to access the exchange to buy, sell and trade digital currencies.

3) How can I buy bitcoin using BitOasis?

1 - You start by buying a voucher with the AED amount you choose. The voucher is a way to add AED credits to your wallet that you can convert/exchange to bitcoin any time you want.

2 - After selecting voucher amount to proceed with payment by sending a wire transfer with the AED amount to our bank (You'll find the details on the 2nd page of the buy bitcoin tab) or pay in cash straight to our account by doing a cash deposit through the bank's ATM or teller desk (Note that you can only deposit 2000 AED per week).

3 - We'll receive your payment on the same day or next business day if you're sending from UAE. If not, it may take up to 1-3 business days.

4 - After we confirm receiving your payment, your AED balance is updated with your AED credits that you can immediately convert (Redeem) to bitcoin at the exchange rate available.

4) We are a website selling products online, how can we accept bitcoin payments from our customers using BitOasis?

Our wallet gives you a distinctive receiving address in the form of QR code that you can put on your online platform, so your clients can scan the code with their mobile phones to pay the required amount.

If you require any further API integrations or payment conversion and settlement, BitOasis can handle that for you. Please get in touch with our team at help@bitoasis.net if you’d like to start accepting payments.

5) I bought bitcoin vouchers, how can I cancel the order before transferring the money?

You can’t cancel the order through our platform, but you can contact our team at help@bitoasis.net and we’ll cancel the order for you.

6) I’m a business owner, can I send you wire transfers through my business bank account?

Yes, you can send us wire transfers using your corporate account. However, you’ll need to verify your company account on our platform by giving us a few extra information about your company. To verify your company account, please go to ‘Increase Limits’ page on the ‘Buy Bitcoin’ tab.

7) Can I send you the required payment through currency exchange houses?

As soon as your account is verified on our platform you’ll be able to send us payments through exchange houses, such as UAE Exchange, Al Ansari Exchange and others in UAE. This payment option is only available for UAE based customers.

8) My wire transfer hasn’t been confirmed yet, what’s the problem?

If the wire transfer is initiated from a UAE-based bank, it should be confirmed on the same business day; however, if you perform the wire transfer at the end of day, it’s possible that it’ll take another business day to confirm your payment.

9) How do I exchange my voucher to bitcoins?

After you receive your voucher details from BitOasis you can go ahead and exchange them to bitcoin on the ‘Redeem Voucher’ page on ‘Buy Bitcoin’ tab, with just one click, you’ll be able to redeem as many vouchers as you want at the exchange rate that will be available that moment.

10) Is there a charge fee for exchanging my voucher to bitcoins?

We currently don’t charge any fees for redeeming or selling your bitcoins on our buy/sell brokerage pages. However, on our trading platform we have a 0.5% fixed fee on both market and limit order types.

11) How can I buy more than 2000 AED/week (500 USD/week) in bitcoin on BitOasis?

In order to be able to buy higher amounts of bitcoin you will need to verify your account on our platform by giving us a few extra information about yourself. You will find the ‘Increase Limits’ page on ‘Buy Bitcoin’ tab.

12) Can I choose to exchange my voucher to bitcoins whenever I want?

Yes, you can exchange your voucher amount to bitcoin whenever you like. The exchange rate that you’ll be converting at will be the rate at the exact moment you execute the exchange.

13) Can I exchange my bitcoins back to fiat currency on BitOasis?

Yes, in order to be able to sell and withdraw your bitcoins to your bank account, you’ll need to verify your account on BitOasis.

14) Can I refund my vouchers?

No, vouchers are non-refundable. You can only exchange them to bitcoins on our platform or withdraw back to your bank account.

15) How does BitOasis secure my bitcoins?

Our wallet uses multisignature technology to secure your bitcoins. With our multisignature wallet, you will need 2 of your 3 private keys to move or spend any bitcoins. This provides an extra level of security to make sure your funds will not be compromised if one of your private keys is.

Your wallet private keys are three. You and BitOasis have access to one of those keys. As BitOasis, we do not have access or control over the 2 remaining keys and by that we do not have control over any of our customers' bitcoins. The second key is held by BitGo, a third-party security company. The third key, or the Recovery key, is a backup for emergencies and is secured under the supervision of an independent law firm that our customers can reach out to in case of any service compromise.

16) What else do you do to protect my bitcoins?

We recommend that our customers use 2-Factor Authentication to secure their accounts online. Our customers are prompted to enter a multi-digit authentication code any time they login or attempt to send bitcoins.

You will also receive an automated phone call or text message asking you to approve any suspicious or large transactions before they are sent. If you approve, your transactions will be processed successfully. If you do not approve, the transaction will be cancelled and the bitcoins will remain in your account untouched.

17) Are there any transaction fees for sending bitcoins from my BitOasis wallet to another wallet?

There are dynamic fees for sending out BTC to another wallet based on transaction volumes on the blockchain and are calculated by BitOasis and added to your transactions. Fees can range from 0.0004-0.001 BTC in most cases. You can request lower fees but confirmation time might be unpredictable.

18) Why does my receiving address change every time I want to receive a transaction?

To protect your privacy, we provide a new bitcoin address for each transaction. This prevents someone from tracking all the payments you receive by looking at the blockchain. Note that all new addresses provided by your wallet will continue to be linked to your BitOasis account.

19) How do I confirm that my bitcoins actually exist?

We post all of our customer transactions directly on the blockchain. No transactions are posted off the blockchain. This allows you to confirm your bitcoin balance at any time. You will be able to view and verify your bitcoin balance available in each of your public addresses right on our website. You can also independently verify your bitcoin balance using a third party service such as Blockchain.info.

20) Can I sell bitcoin and withdraw my funds through BitOasis?

Sell bitcoin and withdraw payouts are currently available for our users in UAE, Saudi Arabia, Qatar, Kuwait, Bahrain and Oman.

21) Need more information?

You can either send us an email directly at help@bitoasis.net or follow us on BitOasis.