If you’ve been searching BitOasis Review , Then you have landed in the right spot! BitOasis is outlined as a way to purchase and store your cryptocurrency and are from the Middle East, you’ve probably heard of BitOasis. Marketing itself as a great way to get involved in the cryptocurrency world, it’s hard to know whether this site is a scam or not. With every positive review for the BitOasis website, there seems to be dozens of comments from people who got scammed out of their hard-earned money, making the decision to invest even harder. With so much information, how are you supposed to know whether this is a good investment or not? Luckily for you, we’ve collected all the information you could possibly need to make this decision. Before you invest any money, take the time to check out our review and figure out whether this company is right for you!
What is BitOasis? BitOasis UAE Bitcoin Exchange
Simply put, BitOasis is a cross between a BTC wallet and an exchange, targeted mostly at the Arab world. While some may view this as a get-rich-quick scheme, our BitOasis Exchange review has found that it’s anything but, and you should be weary of any scammers who try to present it as such. All BitOasis does is offer those in the Middle East and North Africa — areas which only a few years ago had no ability to get involved in BitCoin — a way to purchase and store cryptocurrency. BitOasis does offer some perks that other sites do not, and we’ll give them credit for that. For example, this site does give you the option of using an iPhone app to do your trading and purchases, which has been shown to make the process easy and stress-free. In the UAE, you’re actually able to purchase bitcoin instantly through your phone with the use of credit cards.
BitOasis Review : How Does It BitOasis.Net Exchange Work?
Getting set up for an account with BitOasis is easy enough. All you’ll need to do is gather your email address and a mobile phone. While this company promotes that it puts transparency first, it’s important to note that there’s very little BitOasis is upfront about. For example, while they claim the work with a “highly reputable legal council,” there’s really no information available about their regulatory status. Secondly, the verification process can take a while to complete with this website. While some are pushed through right away, in other cases it may take upwards of a week.
Buying bitcoins with this company is typically pretty easy, on the bright side. Taking your real-life currency, you’ll purchase a voucher, which can then be redeemed for the current price of BTC. It’s important to note that for those in the Middle East, there is no trading platform in place here, which means it is only an exchange of Fiat currency to digital.
Who Is Behind BitOasis? BitOasis Technologies FZE -Dubai.
Finding information on who runs BitOasis can prove to be a challenge. Unlike most reputable websites, the information is not readily available on their site, which is enough to raise some red flags about this scam for me. With a bit of digging, our BitOasis UAE Exchange review found that the company that owns BitOasis is actually called BitOasis Technologies FZE, which is based in Dubai. While this information is listed at the bottom of their website, the location provided is extremely vague. The CEO is a woman named Ola Doudin, an entrepreneur who worked in the UK up until the ’08 financial crisis, although not much else is known about the company structure.
Red Flags In BitOasis Website Unveiled !!
Now that we’ve gotten the technical information out of the way, let’s dig into whether this site is a scam or not. Like any other service online, it’s hard to look up any information without coming across claims that someone has been completely ripped off. For the most part, reviews stating the site is a total scam are few and far between, but it’s enough to encourage potential users to be cautious. We have noticed that even the best of reviews do claim these fatal drawbacks, however:
Long Withdrawal Times: While this isn’t necessarily an indication of a scam, it’s worth noting that you may not get your currency for almost two weeks — if at all. Customer testimonials routinely claim that it takes ten days to receive your cash after you request a payout. In bitcoin, time is money and losing ten whole days to processing can be detrimental. This may be reason enough to go with a different company, depending on your needs.
Beware of Hidden Fees: There have been complaints online about surprise fees eating into your investment when you’re selling bitcoin. In general, it doesn’t sit well with me when a website is not completely upfront about possible fees. Some claim that they can take 10% per each transaction, while others claim as high as 33% was taken from them.
Poor Customer Service: In all BitOasis Exchange reviews — good and bad — people complain about the terrible customer service. An email address is listed on the website, but many claim that when they email with a complaint, it is never responded to or followed up on. When you’re already cautious that a website may be a scam, the last thing you want to hear is that you can’t get a response from the owners/customer service department.
Final Thoughts : The BitOasis Is Not A Trusted Bitcoin Exchange
Is BitOasis UAE a scam? If you invest money, will you ever be able to make a profit? After our BitOasis review, we’d advise that you avoid the site at all costs. Currently, there are other, more reputable options available for trading cryptocurrency, and it’s not worth the risk to get involved with a company as shady as this. Whether you believe the comments about how people have completely lost money to this website or not, the information that even positive BitOasis reviews deliver is enough to make you want to take your money elsewhere. With high and hidden service fees as well as a lengthy transaction period, it’s best to just take your money to another exchange program — preferably, one where you can get your money quickly and you can contact customer support with any questions!