UAE OTC crypto traders. Need to buy USDT

[royclark1]

If trades need good and deep liquidity with fixed rate price %, and they have a genuine need and capacity to purchase l'd be happy to assist.

lets connect

 

[NgonBoRe]

I don't know how much binance fees for EAD p2p market . But the best I can get for USD market is 0.175% as a VIP 3 merchant

 

[5K1PP3R]

how do people buy crypto in Dubai in general? do they send to an exchange from local bank? Does FAB allow it? I was buying from a local OTC seller via binance and FAB sent me a message asking about these transactions.

 

[NgonBoRe]

how do people buy crypto in Dubai in general? do they send to an exchange from local bank? Does FAB allow it? I was buying from a local OTC seller via binance and FAB sent me a message asking about these transactions.

They mostly pay by bank transfer. Some trade in cash with some seller.

If small amount, I think no problems.

How much you send in the case bank asking you?

 

[5K1PP3R]

totally over a million AED, was sending 100k per day

 

[NgonBoRe]

totally over a million AED, was sending 100k per day

I think you just tell them you buy crypto... as nothing illegal here .

Maybe bank ask for fund source?

This is personal or bussiness account?

 

[5K1PP3R]

I think you just tell them you buy crypto... as nothing illegal here .

few people told me this equals account closure

 

[AtMo]

totally over a million AED, was sending 100k per day

Do you have a solution with banks and OTC now? I'm planning to move to Dubai and would need to buy crypto on a regular basis as well.

I'm thinking about forming a UK LLP with the FZ company, using the UK LLP to get a EMI in Europe and find a OTC in europe, do you have a better solution?

 

[5K1PP3R]

Do you have a solution with banks and OTC now? I'm planning to move to Dubai and would need to buy crypto on a regular basis as well.

I'm thinking about forming a UK LLP with the FZ company, using the UK LLP to get a EMI in Europe and find a OTC in europe, do you have a better solution?

first Dubai will cease to be 0% with corp tax
second, banks in Dubai are not crypto friendly, they will close your account if you mention crypto and they will ask where do you send the money

 

[AtMo]

first Dubai will cease to be 0% with corp tax
second, banks in Dubai are not crypto friendly, they will close your account if you mention crypto and they will ask where do you send the money

I'm fine with 9% CIP to start with.

What do you think to form the UK LLP 100% owned by the FZ company and me? Could it solve the banking issue with crypto?

 

[5K1PP3R]

I'm fine with 9% CIP to start with.

What do you think to form the UK LLP 100% owned by the FZ company and me? Could it solve the banking issue with crypto?

any time you send money to someone your bank may ask for contract and invoices. If you mention crypto, your account will be closed. You may want to reach to OTC crypto sellers and ask what they advice. Please update us when you know something

 

[wellington]

Normally (traditionally speaking) from a commercial perspective.

Retail uses exchanges.
Corp/Commerce uses OTC.

It's somewhat hard for retail to get access to OTC... due to the sheer amount of KYC/AML that has to go in, having said that many exchanges have an OTC desk which has the user verified on their retail side and covers them on the OTC side..

So probably look there.

We have access to use a OTC via exchange for example (commercial).

I'm unsure what the CIP thing is but basically our fees are like 0.28% and that's via a regulated entity.

 

[AtMo]

Normally (traditionally speaking) from a commercial perspective.

Retail uses exchanges.
Corp/Commerce uses OTC.

It's somewhat hard for retail to get access to OTC... due to the sheer amount of KYC/AML that has to go in, having said that many exchanges have an OTC desk which has the user verified on their retail side and covers them on the OTC side..

So probably look there.

We have access to use a OTC via exchange for example (commercial).

I'm unsure what the CIP thing is but basically our fees are like 0.28% and that's via a regulated entity.

Thanks for sharing, do you use a UAE bank to pay for the OTC, and if yes, does that raise any issues from the bank?

Could you also DM me the name of the OTC please?

 

[DGTLOTC]

Not worth it for 0.2% most OTC desk pay that in banking rail fees

 

[DSoz]

I have UAE bank account and I need to buy USDT using local transfers. Are there traders with decent rates? Binance gives me +0.4%

How much are you willing to buy? I need some AED.

 

[cjrid]

I offer USDT for AED Cash Deposits. You can DM me for more information. Dealt through Binance P2P.

PS I am new this forum. If this post is against ToS feel free to take it down - sorry!

just reading this post, why would one need to deal with binance P2P to do a crypto to cash exchange? ty