Dubai, the most populous city in the United Arab Emirates, has been awarded the first Bitcoin ATM, giving locals and tourists alike the opportunity to buy digital currency.
This is very important news, given that Dubai is a city where locals enjoy a taste of luxury and boast such landmarks as one of the world’s largest shopping malls and the tallest building in the world.
The Bitcoin Exchange, which accepts cash for the digital currency, is already operational and is located at Rexos Premium, a 5-star hotel in Jumeirah Beach Residence, at the heart of Jumeirah Beach Residence in Dubai.
We have installed a Bitcoin ATM in Dubai at the Rixos Premium Hotel in JBR, Marina. Located on the Mezzanine (M) Floor.
shoutout to @LamassuBTC pic.twitter.com/XtxvHvvOeb
— Amhora (@amhora_com) March 19, 2019
Dhingra’s ATM has been licensed by Dubai’s Department of Economic Development. There is a five percent commission on the total purchase for buying bitcoin through the ATM which transacts the currency in real-time exchange rates.