How to buy DubaiCoin? Know more about the recently launched Dubai Coin cryptocurrency

A new cryptocurrency called DubaiCoin has been recently launched. DubaiCoin has become quite popular since its launch, rising up more than 1000 per cent in 24 hours just after being introduced into the markets. DubaiCoin has been built upon a public exchange and is currently available on a limited number of exchanges. Read on to know more about what is DubaiCoin and how to buy DubaiCoin. 

How to buy DubaiCoin?

As of now, DubaiCoin is not available on any major exchanges. Interested investors who are looking to buy DubaiCoin will have to do so by exchanging it for Bitcoin or Binance Coin at exchanges where DubaiCoin is available. At the time of writing this article, Dubaicoin is available for purchase on the following exchanges - HitBTC, Cryptopia. However, DubaiCoin is a fairly new cryptocurrency, and investors are advised to research the legitimacy of the coin before choosing to invest in such a brand new project. 

How and where to buy DubaiCoin?

DubaiCoin has been launched by a United Arab Emirates (UAE) based company called Arabianchain Technology. According to the company, DubaiCoin is the first public blockchain-based cryptocurrency in the Arabic region of the world. As per Crypto.com, the cryptocurrency was trading around $0.17 when it was launched and DubaiCoin price jumped up to $1.13 in a span of 24 hours.

The company that created the coin, Arabianchain Technology announced in a press release that Dubai Coin will be used to pay for a range of goods and services both in-store and online, with the clear intention for the coin to be used in place of traditional bank-backed currencies. The company also announced that the circulation of the new digital currency will be controlled by both the city itself and authorised brokers, implying that the Dubai government also has a stake in this cryptocurrency. 

However, a Dubai authority, rejected that claim, with a Tweet saying that Dubai Coin was never approved by any official Dubai authority. They also called the website promoting Dubai Coin an elaborate. You can check the official tweet down below. So it appears, Dubai Coin is not an official Dubai government-backed cryptocurrency. You can take a more in-depth look at into the coin here. 

DISCLAIMER: The information provided on this website is for educational and entertainment purposes. The information provided on this website does not constitute investment advice, financial advice or trading advice. Republic World does not recommend purchasing any cryptocurrency. Crypto markets are highly volatile and crypto investments are risky. Readers should do their own research on cryptocurrencies and consult their financial adviser before making any crypto investments. 

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