As you may have noticed, Bitcoin is all the rage. In fact, it isn’t even Bitcoin – everyone’s a cryptocurrency trader these days, with UAE consumers keen to jump on the Bitcoin gravy train.
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But, as noted by Holborn Assets, a UAE-based financial advisor, it isn’t possible for a UAE resident to make Bitcoin a part of their investment portfolio in the same way they would when buying currencies or shares. After all, there’s no regulation when it comes to cryptocurrencies.
Still, this doesn’t mean that UAE consumers can’t find other ways to invest in cryptos. But to protect people against making hasty decisions, Holborn says that it’s set to introduce a series of independent Bitcoin seminars later this year.
“The global headlines around cryptocurrency, and Bitcoin in particular, have seen a surge in enquiries from our clients and members of the public in the UAE wanting to know how, and if they too should be investing,” said Riyad Adamou, CCO at Holborn Assets.
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“Due to the unregulated nature of cryptocurrencies, as is the case with almost all other financial firms, we are not presently able to offer specific investment advice or facilitate the allocation of funds. It is for that reason that we have set the wheels in motion to bring in independent experts to present a number of educational seminars.”
Adamou added that the seminars will be available to both Holborn clients and members of the general public, and will be aimed at shedding some light on the cryptocurrency markets and the underlying blockchain technology that powers them. This should allow seminar visitors to draw their own conclusions and make more informed decisions before investing.
“We believe this shows the commitment we have to providing all associated with Holborn Assets the very latest information on the financial markets,” he said.
The majority of crypto traders in the UAE buy Bitcoin and other currencies through online portals. A couple of local options have sprung up over the past year, though one recently ran into issues with a number of local banks.