LTC, XRP, ETH and BTC trading using credit cards on BitOasis

To all our exchange users, we’re pleased to announce the following service updates on our platform:

– Credit/debit card payments have been restored on BitOasis starting today with 7% + 1 AED fee charges. To buy LTC, BTC, ETH or XRP using credit cards, please log in to BitOasis and start trading.

– BitOasis users can now buy, sell and trade LTC with 0% fees until March 4, 2018. Users will be able to place buy and sell limit and market orders with AED Dirhams through wire deposits or credit card payments.

If you have any questions, please don’t hesitate to reach out to our support team.

Thank you for using BitOasis!

Launching Litecoin Trading on BitOasis Trading Exchange

We are excited to announce the launch of Litecoin (LTC) trading on the BitOasis digital asset trading exchange. BitOasis users will be able to buy, sell and trade LTC starting today with 0% fees until March 4, 2018. Users will be able to place buy and sell limit and market orders with AED Dirhams through wire deposits.

We’re adding LTC trading to meet the increased demand from our customers to add to the list of digital assets offered on our platform. As one of the largest and fastest-growing companies in the blockchain space in the region, we’re committed to providing our customers with a secure way to buy, sell and trade Bitcoin, Ethereum, Ripple, and now Litecoin.

To start trading LTC, please log in to BitOasis and select trading exchange. If you have any questions, please don’t hesitate to reach out to our support team.

Thank you for using BitOasis!

URGENT WARNING to all our customers

We have identified three scam websites that use a fake login page that is similar to real login exchange platform pages to collect your credentials and access your trading exchange accounts. (bitoasis.cc, bitoasis.cm and coinjar.cm) Kindly make sure that you are only entering your credentials on the correct domain bitoasis.net.

Unfortunately, BitOasis is not responsible for any digital assets lost due to users logging to scam websites. We are currently doing our best to report these websites to the domain authorities. You can also report here: https://safebrowsing.google.com/safebrowsing/report_phish/

We really appreciate your cooperation. If you have any questions, please don’t hesitate to reach out to our support team.

Thank you for using BitOasis!

BitOasis Introduces Ripple (XRP) Trading to Middle East Markets

We are excited to announce to all our customers the debut of Ripple (XRP) trading on the BitOasis digital asset trading exchange. BitOasis users will be able to make XRP transactions beginning on Tuesday, January 30, 2018, with 0% fees during the introductory period. Users will be able to place buy and sell limit and market orders with AED through wire deposits or credit card payments. New customers can also submit an account verification until 23:59 UTC on Jan. 30th to make sure they can deposit and trade using higher limits.

We’ve decided to introduce XRP trading to meet the increased demand from our customers to add to the list of major cryptocurrencies and digital assets offered on our platform. As one of the largest and fastest-growing companies in the blockchain space in the region, we’re committed to providing our customers with a secure way to buy and sell Bitcoin, Ethereum and now, Ripple.

A trailblazer in the blockchain space, BitOasis was founded in 2014 as the first digital asset exchange platform in the MENA region, offering Bitcoin trading. The company then introduced Ethereum trading for the first time in the Middle East in February 2017.

BitOasis Update on the Rise of Digital Assets and Blockchain Adoption in the UAE and GCC region

As adoption of digital assets and blockchain technology is on the rise worldwide, we at BitOasis are seeing an exponential increase in demand for our services in the GCC region. We welcome this growth but we also acknowledge that this might create bottlenecks which our new clients may temporarily experience from time to time. We would like to assure our longstanding clients and partners that the team at BitOasis is working tirelessly at resolving these issues.

One of our top priorities is to ensure we operate transparently and communicate openly with all of our customers. As such we would like to respond to a Gulf News article published on Thursday, January 10th, under the title ‘Bitcoin investors angry after BitOasis disables transfers’.

It is our understanding that EmiratesNBD’s recent policy decision to halt transfers for customers dealing with blockchain-based trading platforms applies not only to BitOasis but to similar companies in the blockchain space both locally and internationally. It is unfortunate to see one of the UAE’s major financial institutions taking such a position on products built using this innovative and much in demand technology. We continue to actively engage and build strong relationships with other leading financial institutions as well as regulators in the UAE with the aim of fostering an environment more conducive to blockchain technology adoption.

BitOasis does not, at present, nor ever has, maintained a banking relationship with either of Emirates NBD or Noor Bank. We continue to have excellent relationships with our local banking partners since the launch of our platform in 2015. We currently do not have any issues with accepting or sending customer transfers to Noor Bank or any other UAE or GCC based banks as the article suggests. We are also currently engaging with other banks mentioned in the article to streamline and remove any friction for our customers banking there.

Furthermore, we have been actively engaging with regulators locally in the UAE and in the GCC, and have received a positive reception to supporting local innovation in the blockchain and digital assets space. The cooperation and positive reception we have been receiving from local banks and regulators is a testament to the UAE’s openness to technological innovation and its leadership’s continued commitment to, technology and entrepreneurship.

Similar to another leading international blockchain digital asset trading platforms, the recent unprecedented growth experienced, particularly in the last eight weeks, has led to unexpected delays in user verifications and withdrawals. We have been actively working since then to double our capacity and invest more in our existing infrastructure in order for us to continue serving our existing customer base and also welcome thousands of new customers from UAE and GCC to our website.

As one of the largest and fastest growing companies in the blockchain space in the UAE, we’re committed to providing the best and most secure trading platform in the region for our customers. We strive every day to improve our services in order to meet the growing demand of our customers. Hence, we have recently secured a large equity financing round from reputable investors such as KBBO Ventures, Wamda Capital, Pantera Capital, Jabbar Group, among others, that we will be announcing soon. These funds will go towards ensuring a secure and seamless user experience on our platform and ensuring that we maintain healthy relations with all banks and regulators in the region.

For any questions, please contact BitOasis at [email protected] or visit us at www.bitoasis.net

BitOasis Technologies is the Middle East & North Africa’s largest and most secure online digital asset platform. Established in 2015, BitOasis is based in the United Arab Emirates (UAE) and currently aims its services at professional traders and investors from the GCC region, with plans to expand to the rest of the MENA market.

Important FAQ: Account verification & higher limits requests

1. I submitted my verification request on BitOasis and it’s been weeks already. What do I need to do to get verified?

If you submitted a verification request during this period and still want your account to get verified, please help us prioritize your verification by following the steps below:

  • • Click Submit at the bottom of your application to get re-submitted and prioritized on our verification queue.

2. After re-submitting my verification request, when do I expect to get verified?

We are prioritizing verification requests based on their original submission date. Resubmitted verifications between Dec 10th – 17th have already been processed.

If your application has been originally filled between Dec 10th to Dec 17th, 2017 and you’ve resubmitted it as explained in Question 1 above, rest assured we’ll be prioritizing your application on our queue to make sure it’s processed within 24-48 hours. However, please make sure it’s RESUBMITTED before you reach out to our customer support team (refer to question 1 above).

If your application has been originally filled between Dec 18th to Dec 24th, 2017 and you have resubmitted your request already, please allow 5-7 working days from resubmission date until we process your request. Your resubmission request will be prioritized based on original submission date.

3. Why is BitOasis experiencing all these delays verifying my account?

Since the recent rise in the price of Bitcoin and Ethereum, we have experienced tremendous growth in user sign-ups and verifications on our platform. Due to the unprecedented growth in user activity, we have experienced delays in verifying and on-boarding new customers. Rest assured we’re trying to move as quickly as possible through the outstanding verifications backlog and adding new resources to keep up with the growth.

To make sure we get as quickly as possible to your outstanding verification request, please check Question 1 and 2.

4. You stopped the verification process for new customers. Why is that?

We’re happy to have you as a new customer and look forward to on-boarding you soon, however, due to the surge in user sign-ups we had to currently pause the verification process for new customers to make sure we onboard and verify customers who’ve already submitted their requests between Dec 10th to Dec 24th, 2017.

Currently, we can’t onboard you to use BitOasis with a higher weekly limit. Please check Question 6 on when we’ll be opening up verifications again.

5. What’s my weekly limit now before submitting my full verification request?

Your weekly deposit limit is 1,500AED. You won’t be able to sell any bitcoins until your account is fully verified.

6. When will new users be able to submit verification requests?

We have temporarily paused account verifications for new customers due to the surge in user activity. We expect to re-enable verifications within the next 1-2 weeks. Please stay tuned as we’ll be communicating this date on our platform.

7. Can I apply for a higher deposit/withdrawal weekly limit on my account?

Due to the recent surge in demand and user sign-ups, we are temporarily pausing applications for higher deposit/withdrawal weekly limits on our platform.