The Middle East and the Arabic countries has not been the biggest fans of Bitcoin and other cryptocurrencies so far, as the virtual currency has had a hard time to really catch the locals and get them to experiment with them.
Now that might be over however, as the first Middle Eastern Bitcoin exchange site launched the other day and now it has been announced that Igot has launched a Bitcoin exchange site in Dubai. Dubai is one of the wealthiest countries in the world, having some of the biggest oil reserves in the world.
Originally there were a few places in Dubai where you could pay with Bitcoins if you wanted, for example in a local Italian pizzeria. However with the people not being really aware about the cryptocurrency, no one ever tried to incorporate it into their million and billion dollar businesses.
With the launch of Igot in Dubai, the locals will now have easy access to information about Bitcoins as well as being able to buy and sell Bitcoins in their local currency. Igot has made partnerships with local banks in Dubai as well as gained a Commercial Brokerage License.
Customers can now go to Igot and experience an easy way to buy and sell Bitcoins, with a fixed 1% fee on all transactions, free transfers to other customers or other wallets as well as buy/sell orders for when the Bitcoins volatility goes the way you wanted it to.