In an exciting development for cryptocurrency traders in the Middle East, Bitget, a front-runner in cryptocurrency derivatives and copy trading platforms, has announced the expansion of its P2P (Peer-to-Peer) trading services. The platform now supports an additional seven Middle Eastern currencies, making it more accessible for users in the region to engage in crypto trading.
Expanding financial borders in the Middle East
Bitget has broadened its fiat gateway in the Middle East to include an array of local currencies: DZD (Algerian Dinars), BHD (Bahraini Dinars), TND (Tunisian Dinars), JOD (Jordanian Dinars), QAR (Qatari Rials), MRU (Mauritanian Ouguiyas), and OMR (Omani Rials). This strategic move allows traders to directly purchase cryptocurrencies using their domestic currencies, without the added hassle and expense of currency conversion.
What this means for users is a much more streamlined trading experience. “We are aligning our products with Bitget’s growth plans in the Middle East,” explained Gracy Chen, the Managing Director of Bitget. “Our goal is to empower our traders to conduct transactions in their native currencies. Through Bitget P2P, we’re facilitating a frictionless and convenient trading process.”
The platform’s users can now transact in USDT against these local currencies using regional payment methods. This inclusivity not only caters to a broad user base but also fosters financial independence in a region rapidly becoming a hub for cryptocurrency activity.
Zero fees, seamless trading
A central feature of the P2P service expansion is the zero-fee structure for buying and selling crypto. This move is in line with the company’s objective to drive financial sovereignty and promote the accessibility of cryptocurrencies. By eliminating the trading fees, it is making a bold statement about its commitment to user-centric service and financial democratization.
The implementation of local currencies is addressing a significant barrier to entry for potential crypto traders – the complexity of navigating foreign exchange processes. This initiative ensures a straightforward and user-friendly platform that’s likely to attract a diverse demographic of traders from within the region.
Regulatory compliance and institutional services
As Bitget forges into new markets, compliance with local regulations remains a top priority. The company is actively seeking licenses to operate in various Middle Eastern countries. These legal steps will allow Bitget to establish regional offices, providing tailored services to Middle Eastern clients.
In conjunction with its geographical expansion, Bitget has introduced a specialized Euro (EUR) fiat gateway for its institutional clients. This dedicated service provides a range of features and easy access to deposit and withdrawal functions, which are particularly designed for verified institutions on the Bitget platform. With a focus on security, cost-efficiency, and flexibility, the new institutional service promises to enrich the trading experience for Bitget’s professional clientele.
About Bitget
Founded in 2018, Bitget has positioned itself as a global leader in the digital asset exchange market. With a reach extending to over 20 million users across more than 100 countries, Bitget is dedicated to enhancing the trading experience through innovative features like copy trading. The company’s commitment to growth and user empowerment is evident in its educational initiatives and collaborations with high-profile partners such as Lionel Messi and PGL.
Beyond trading, Bitget’s ecosystem includes the Bitget Wallet, formerly known as BitKeep, which provides a suite of Web3 solutions encompassing wallet services, swaps, an NFT marketplace, a DApp browser, and more. With a vision to encourage the widespread adoption of cryptocurrencies, Bitget continues to explore partnerships that resonate with its mission and values.
For more information about Bitget and its services, or to address media inquiries, interested parties are encouraged to visit the official website or contact the media relations team directly at media@bitget.com.
Conclusion
Bitget’s strategic expansion of P2P services to incorporate seven new Middle Eastern currencies marks a pivotal step in enhancing crypto accessibility in the region. By eliminating trading fees and streamlining the exchange process, Bitget is not only fostering a conducive trading environment for current users but also positioning itself as a welcoming gateway for new entrants to the crypto market. As the company pursues regulatory compliance and expands its institutional services, its commitment to fostering a robust, user-friendly trading platform is clear.
