BitOasis Review 2023: Is It Trusted & Regulated? (2024)

BitOasis is one of the largest and first cryptocurrency or digital currency trading platforms in MENA (the Middle East and North Africa). The BitOasis trading volume has exceeded 3 billion USD. During the first half of 2021, the BitOasis team emerged as a pioneer in the industry, doubling its user base within six months after its launch in 2015.

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According to this BitOasis review, the cryptocurrency platform offers more than 15 digital assets to trade, buy or sell in Dirham, UAE. The BitOasis website is focused on clients living in the Middle East. The company allows traders from 87 different countries to make deposits with fiat. The countries include the United Arab Emirates (UAE), Dubai, Saudi Arabia, Bahrain, Kuwait, Oman, Jordan, Egypt, and Morocco.

Interested investors can join BitOasis to enjoy fast verification and investment, instant deposits, no trading fees, and the most reliable trading experience.

This BitOasis review highlights the exchange’s regulation, features, products and services, pros and cons, the registration process of BitOasis accounts, fees, deposits and withdrawal fees, mobile support, security measures, supported currency, customer service, and many more.

What Is BitOasis All About?

BitOasis is headquartered in the United Arab Emirates and is one of the most trusted and largest crypto exchanges in the MENA. The BitOasis website was established in 2015. It emerged as a successful yet expansive exchange in the market, serving as the best go-to exchange company, especially for first-time crypto buyers and professional traders. BitOasis ensures the most regulated and secure infrastructure in the world of finance for institutional and retail clients across regions.

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Compared to other exchanges, BitOasis features the fastest registration process. All the traders need to do is register, verify, deposit, and purchase cryptocurrencies (including Bitcoin, Bitcoin Cash, Ethereum, and many more) from any part of the world. A rewarding referral program also allows traders to invite friends and earn up to SAR/AED 500.

The deposit and withdrawal limits at BitOasis are calculated monthly as the market prices for digital assets can be highly unpredictable and volatile.

BitOasis has been a successful the best crypto exchange in UAE market since its launch and is currently operating from its office in Dubai Silicon Oasis. Traders can make transactions from a UAE bank account but at slightly higher transaction fees than other exchanges.

Find Out How BitOasis Works!

According to this review, the BitOasis website is a digital currency platform that acts as an exchange and broker in the Middle East. Verified traders can buy and sell cryptocurrency through bank transfer, debit, or credit card. People can buy crypto from BitOasis using fiat currency and deposit money in digital assets. After making crypto deposits in the BitOasis account, traders can transfer their crypto coins to their personal bank account, Bitcoin wallet, or start trading them on the exchange itself.

BitOasis supports around 60 cryptocurrencies, including Basic Attention Token, Bitcoin, Ethereum, XRP, Tether, Bitcoin Cash, Litecoin, Chainlink, USD Coin, Cardano, and many more. The BitOasis website earns profits through transaction fees that apply when traders directly use their bank account to purchase crypto coins or while trading on the stock exchange.

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Why Choose BitOasis Exchange? Find Out Here!

Trade in Your Local Currency

Traders at the BitOasis website can access a variety of cryptocurrencies, make easy deposits, and trade with Saudi riyal (SAR) and UAE Dirham (AED) using their bank card or bank transfer.

Largest Coins on Offer

The cryptocurrency platform features more than 60 crypto assets and 200 crypto-fiat trading pairs, making BitOasis one of the best trading exchanges to offer the most popular cryptocurrency tokens.

Safe and Secure

BitOasis is one of the safest cryptocurrency trading platforms in the market that stores client funds in secure cold storage with the most reliable solution in the world.

Trade From Anywhere

Traders at BitOasis can trade, invest, deposit, and withdraw money from the free crypto exchange from any part of the world on various devices, including iOS and Android operating systems.

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Is BitOasis Legit & Regulated?

As many reviews mention, BitOasis is not yet regulated; it has been offered an FSP (Financial Services Permission) from the FSRA (the Financial Services Regulatory Authority) in the ADGM (Abu Dhabi Global Market). The exchange intends to migrate some of its operations to other regions in ADGM. The website received its final approval from the FSRA or the Financial Services Regulatory Authority in 2021. Currently, it is in the process of becoming fully operational as a digital asset MTF (Multilateral Trading Facility) and a custodian regulated solely by the FSRA.

Find Out the Features of BitOasis Exchange Here!

Top Security

BitOasis offers top security measures such as email ID confirmation for every login, 2-factor authentication, and advanced SSL encryption protocols that prevent unauthorized access.

Customer Service

According to this review, BitOasis has the most helpful and responsive customer service via live chat. The customer support team looks at every query within 30 minutes.

Trading

Investors can buy, sell and trade more than 60 cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, and many more.

New User Benefits

New traders can access easy-to-use trading tools and investment products such as BitOasis Core, BitOasis Pro, BitOasis OTC desk, and APIs.

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Check out the BitOasis Products & Services!

BitOasis Core

BitOasis Core is a starter product where users can buy and sell more than 68 cryptocurrencies at a 0% commission fee. They can manage their portfolio via dashboards that include a detailed portfolio, price alert tools, and new charts to keep them updated with the finance market.

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BitOasis Pro

BitOasis Pro is another Buy/Sell exchange feature that offers a more advanced platform than BitOasis Core Buy/Sell. Pro allows traders to switch and trade cryptocurrencies and fiat pairs of more than 60 types with sophisticated order types and trading charts. The feature offers a localized offering in the UAE, Saudi Arabia, Dubai, Bahrain, Kuwait, Oman, Jordan, Egypt, and Morocco. It also offers a highly liquid order book for swift execution orders. Unlike Core, which allows trading fiat to crypto and not crypto to crypto, BitOasis Pro allows easy trades between fiat to crypto and crypto to crypto.

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OTC

BitOasis OTC desks are recommended for those who deal with high-volume trades. There are no additional trading fees for BitOasis OTC trading services. However, people need to be T3 verified to complete their verification and use the OTC feature. The team members at the OTC trading service are helpful and offer 24*7 assistance to all members. Users can also enjoy large trade volumes of $100,000, a highly competitive price structure, and a dedicated customer support service.

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API

BitOasis has recently launched an API that allows investors to place trades, access real-time market information, and manage their account automatically via a strong link with the APIs. It facilitates interactions between two unrelated systems by using programs linked directly to the exchange.

Invite & Earn

One of the best things about the BitOasis website is that users can earn rewards up to 500 AED with the Invite & Earn feature offered by the platform. Users can sign in to the platform, verify their account, create a unique referral link, and share it with friends, family, traders, or even on social media as an invite to the platform. Both parties earn rewards when an invited friend joins BitOasis via the referral link, makes a deposit, and purchases cryptocurrencies. The BitOasis Invite & Earn Reward Structure is given below:-

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BitOasis Review: Pros and Cons

What Are the Steps of BitOasis Registration & Verification?

Here is a step-by-step guide to get started with BitOasis:-

• Create an Account – Go to the official homepage link and navigate to the Sign Up option.
• Fill Up the Registration Form – Enter correct personal details like name, email address, and a unique password.
• Confirm Email ID – Confirm ID as it will be used every time to log in to the account. BitOasis will send an email containing a unique confirmation code. Copy and paste the code into the box provided in the next step.
• Click on Finish Registration – To complete the registration process. Once the email ID is verified, the account is instantly created so that traders can start their trading experience through fast deposit and withdrawal methods.

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BitOasis Fees

BitOasis is one of the most expensive exchanges compared to other companies in the industry. The higher fee is because of the advantages, such as instant deposits and withdrawals that BitOasis features.

Deposit Fees

BitOasis exchange does not charge any commission for depositing money using bank transfers in the UAE. However, traders using a debit or credit card to make deposits are charged a 3.67% fee.

Trading Fees

BitOasis has different fee structures for market takers and market makers when it comes to trading fees. Trading volumes less than 1,000,000 AED per month are charged with 0.25% market maker fees and 0.5% market taker fees. For those confused with the concepts of market maker and market taker, here is an example to get the concepts right: a trader becomes a market maker when he places a buy or sell order at a particular price (limit order).

The maker provides liquidity to the order book. A trader becomes a taker when he places to buy or sell orders on the market’s current price. He does not choose any price and takes from the liquidity and hence, the taker.

Withdrawals Fees

Every withdrawal transaction at BitOasis is also charged a small fee of 65 AED for withdrawal orders made within and outside the UAE.

BitOasis Supported Currencies

BitOasis supports more than 60 cryptocurrencies, including Bitcoin, Ethereum, XRP, Tether, Bitcoin Cash, Litecoin, EOS, Tezos, Stellar Lumens, NEO, Basic Attention Token, Algorand, 0x, Chainlink, Maker, and many more. However, only two fiat currencies(including Saudi riyal (SAR) and UAE Dirham (AED) ) can be used to make exchanges at BitOasis.

BitOasis Mobile App Support

BitOasis exchange has a dedicated mobile app that can be downloaded instantly. The app is available for download from Google Play Store and Apple App Store only. The BitOasis mobile app operates optimally with the same features available in the desktop version. Purchase, sell, store coins, send and receive money, and check account balance and history from mobile phones, secured with a password.

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What Are the BitOasis Security Measures? Are My wallet & Fund Safe?

Although BitOasis is a successful cryptocurrency exchange without any valid license from a strong regulator, the exchange prioritizes client information and funds by employing strong security measures similar to other financial institutions. Some of the security measures include:-

• Email address confirmation for every login
• Two-factor authentication
• Advanced SSL encryption protocols to prevent unauthorized access

However, every user must note that BitOasis has complete control of the private keys of user wallets. Your online crypto wallet may be out of your control. It implies that if operators face any security breach, the investor may lose their funds. But they are not hacked by criminals as BitOasis controls the private keys to protect client funds, chances are your wallet will be safe from breaches. Think through it before deciding to invest!

BitOasis Supported Countries

BitOasis is the most secure, most liquid, and the largest cryptocurrency exchange in the MENA (the Middle East and North Africa) region, with more than 60 cryptocurrencies to buy, sell and trade in the following countries:-

The UAE, Saudi Arabia, Bahrain, Kuwait, Dubai, Oman, Jordan, Egypt, and Morocco.

Is the BitOasis Customer Support Convenient?

Customers can get in touch with the support team through the Live Chat function and expect to get an answer or response in under 30 minutes. They can also contact the agents via email at [emailprotected] between Sunday and Thursday, from 9 AM to 5 PM. There is also an option of submitting a ticket available on the Support page, which requires entering a registered email ID and the type of query the customer has. The website also has a dedicated page with a rich Knowledge Centre and FAQ section that answers the most frequently asked questions. We highly recommend getting a clearer idea of how the BitOasis platform and customer support work before investing your fund here.

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BitOasis Review: Final Thoughts

To summarize this BitOasis review, although it is an excellent UAE crypto exchange platform, we do not recommend it for active and professional investors as the exchange takes full control over the private keys. It is also somewhat an expensive exchange. Most reviews confirm that the client may lose their funds if the platform is hacked. However, BitOasis employs some important security features such as two-factor authentication and advanced encryption protocols that protect client information and their funds.

FAQs

Is BitOasis Safe?

Yes, according to most reviews, BitOasis is a safe and registered crypto exchange with a Financial Services Permission from the Financial Services Regulatory Authority in Abu Dhabi Global Market.

Does BitOasis Have a Wallet?

Yes, BitOasis has a digital wallet to store and transfer digital currencies.

How Much Are BitOasis Trading Fees?

BitOasis charges 0.25% market maker fees per trade and 0.5% market taker fees per trade for all trades less than 1,000,000 AED.

Is There Any BitOasis App?

Yes, a mobile app is available on BitOasis for Android and iOS operating systems.

Is BitOasis Legal in the UAE?

Although no tough legislation regulates the crypto market, the ADGM recently announced a special mechanism to regulate all spot crypto asset operations.

How Much Leverage Does BitOasis Offer?

Being a standard 3rd party crypto exchange, people can not apply leverage to their trades at BitOasis.

Is BitOasis Easy to Use?

Yes, according to most reviews, BitOasis is user-friendly and caters to a wide range of customers including beginners and high-volume traders.

Do I Need to Verify My Identity to Use BitOasis?

Yes, all users need to verify their identity to start using BitOasis. Note that it is the responsibility of the users to keep their identities protected, as the operators are not responsible if their money is lost due to the wrong entry of information.

Can I Withdraw Funds Back to My Debit or Credit Card?

Yes, you can withdraw your money using debit or credit cards.