Dubai has emerged as a major hub for cryptocurrency activities. Many crypto projects have set up offices in Dubai, and others are preparing to relocate there. The United Arab Emirates government has put in place forward-thinking regulations for the issuance and management of digital assets. Searching for the top Dubai cryptocurrency project? Our review showcases some of the best digital assets for investors in this Middle Eastern business center.
The 10 Best Dubai Cryptocurrency to Invest in 2024
Before we take a deep dive, let’s examine the best Dubai cryptocurrency projects and what makes them unique:
- Tamadoge (TAMA): Blockchain Gaming in the Doge Ecosystem
- Battle Infinity (IBAT): Popular Dubai Crypto Project
- Lucky Block (LBLOCK): Largest NFT Competition Ecosystem
- Ethereum (ETH): Best Altcoins With Sizable Trading Volumes in Dubai
- Polygon (MATIC): Crypto Going to Disneyland
- Algorand (ALGO): Contributing To The Middle East Through Sports And Education
- Shiba Inu (SHIB): “Dogecoin Killer” On The Rise
- Binance Coin (BNB): Leading Exchange Token
- Dogecoin (DOGE): Leading The Charge For Meme Coins in Dubai
- Solana (SOL): Expanding Beyond Blockchain And Crypto’s Frontiers
A Closer Look at the Best Dubai Crypto Projects
Now, let’s look deeper into the best Dubai cryptocurrency projects and their attractive factors:
1. Tamadoge (TAMA) – Blockchain Gaming in the Doge Ecosystem
TAMA, a newly launched coin, has the potential to become the best meme coin globally. We believe it’s a good pick for investors looking for the best Dubai cryptocurrency project.
Launched in 2022, Tamadoge calls itself the next “play-to-earn Dogecoin”. The platform looks to add the widespread popularity of assets like Dogecoin (DOGE) and Shiba Inu (SHIB) to the more functional play-to-earn gaming module.
A play on “Tamagotchi”, Tamadoge is a platform that allows players to mint NFTs representing pet doge. They can breed and train their animals and use them to battle other players’ pet doges. When a player wins a battle, they receive TAMA and other rewards.
Tamadoge comes with a monthly leaderboard that ranks players based on their activities on the platform. Investors can do more on the platform than just battle doges. Tamadoge has other challenges and mini-games for players to have fun and earn.
Tamadoge is currently in the presale phase for TAMA. The beta sale is set to conclude by September, after which the app’s developers will release the beta version across all platforms. The roadmap includes exciting features like the “Tamaverse” – a metaverse platform for gaming and various experiences. The token is predicted to be one of the top coins on Uniswap following its presale.
2. Battle Infinity (IBAT) – Popular Dubai Crypto Project
Our popular pick for the best Dubai cryptocurrency project is IBAT. The crypto asset is the native token for Battle Infinity – a blockchain gaming giant gaining massive popularity in the market. IBAT’s heightened demand for the coin proves it’s one of the best crypto presales of 2022. Its presale was sold out within 24 days of launch. The next step for IBAT is a listing on PancakeSwap. IBAT will be listed on PancakeSwap on 17 August 2022.
Battle Infinity is an Indian-based platform looking to transform blockchain gaming. The fantasy gaming project brings together blockchain technology, non-fungible tokens (NFTs), and the metaverse, making fantasy sports even more exciting. Battle Infinity provides Battle Swap, a decentralized trading platform to buy IBAT.
Central to Battle Infinity’s offering is the IBAT Premier League. This is the main fantasy sports platform, and it takes place in the metaverse. Here, participants can purchase NFTs that represent real-life athletes and form teams with them. Like regular fantasy sports, each NFT accrues points when the athlete performs well during the season. However, the difference here is that the value of the NFTs change and the NFTs are tradable via Battle Infinity’s in-house marketplace.
As soon as the season ends, the team with the highest points is declared the winner.
IBAT, Battle Infinity’s native token, ties these features together. IBAT was available for $0.0015.
There is no doubt that Battle Infinity is the next big thing in gaming. The Indian project has an impressive home market to tap into in its journey towards massive adoption. Also, with fantasy sports estimated to be worth almost $50 billion in a few years, Battle infinity is in a solid position to corner the market.
Visit the Battle Infinity Telegram channel for real-time updates on the project.
3. Lucky Block (LBLOCK)
Another top option among the best Dubai crypto projects is LBLOCK. The asset, which underpins the Lucky Block ecosystem, is one of the biggest tokens in the online gaming space. It has also been one of the most promising new coins this year.
Lucky Block listed its LBLOCK V2 token this week. The token pumped 250% on LBank. Lucky Block V2 is an ERC-20 token that opens up the asset to a wider audience.
Following its listing on Bank, Lucky Block V2 also launched on MEXC — the 18th largest exchange in the crypto market, further opening up the narrative to more exchange listings in the future. The LBLOCK team is now working on a bridge that would see both ERC20 and the BEP20 tokens swapped to reduce the liquidity mismatch between the two tokens.
Lucky Block is known for organizing NFT competitions and prize draws, which has made it hugely popular among investors in the UAE. Tickets for the prize draws can be purchased for $5, while holders of at least 500 LBLOCK tokens can earn free tickets easily.
As for the NFT draws, players will be given access once they purchase one of Lucky Block’s Platinum Rollers Club NFTs.
4. Ethereum (ETH)
Ethereum is one of the most popular cryptocurrencies in the market. It is the second largest cryptocurrency, behind Bitcoin. So it is no surprise that it is among the list of best Dubai crypto projects.
Trading at $1,584, ETH has been up by 11.53% in the past week. The asset has been one of the best-performing altcoins in the last seven days, strengthening its case among the list of Dubai cryptocurrencies.
The Merge will be a major bullish event for ETH. Some crypto experts believe the asset could eventually flip Bitcoin if the Merge gains a strong bullish push. Thus, Ethereum is one of the best Dubai cryptocurrency projects for traders to invest in.
Your capital is at risk. Crypto asset investments are highly volatile and speculative.
5. Polygon (MATIC)
Polygon is one of the most popular layer-two blockchain protocols in the market. The platform’s goal is to provide a way for decentralized application (dApp) developers to access Ethereum without dealing with its scalability issues.
MATIC, the network token for the Polygon network, currently trades at $0.8592. The crypto asset has been up by 13.5% in the past week.
Also, Polygon was recently selected as part of the Disney Accelerator Program. The entertainment giant is looking to integrate artificial intelligence and NFTs into its offering, and Polygon is the official partner for this. So this is one project that Dubai crypto investors should keep an eye on.
Your capital is at risk. Crypto asset investments are highly volatile and speculative.
6. Algorand (ALGO): Contributing To The Middle East Through Sports And Education
Algorand is one of the crypto projects looking to accelerate the use and functionality of crypto and blockchain technology. The blockchain platform is one of the best Dubai cryptocurrency projects right now, throwing its hat into the already crowded ring of blockchain networks that are already in the market.
ALGO, the native token for the Algorand blockchain, currently trades at $0.3336. The asset is up by 3.12% in the past week, in line with the market.
The blockchain has also been selected as the official blockchain partner for the FIFA World Cup – one of the biggest showpiece events in the sports space, which will be held in Qatar towards the end of the year.
With Algorand looking to better the Middle Eastern community, it will be interesting to see how well they and the ALGO token can perform in the coming months.
Your capital is at risk. Crypto asset investments are highly volatile and speculative.
7. Shiba Inu (SHIB): “Dogecoin Killer” On The Rise
Shiba Inu is another leading meme coin that has recently become especially popular in the market. The self-proclaimed “Dogecoin killer” even achieved its aim briefly in 2021, after it pipped Dogecoin to become the largest meme coin in the market by market cap.
Currently, SHIB trades at $0.00001194. The asset is up by 6.53% in the past week, marking a solid gain.
Your capital is at risk. Crypto asset investments are highly volatile and speculative.
8. Binance Coin (BNB)
As one of the most valuable coins in the market, BNB has become a star in the crypto space. It is currently the most valuable exchange token worldwide, earning a place atop the CoinMarketCap charts.
Currently, BNB trades at $278.33. The asset is up by 14.25% in the past week.
The exchange has also gained a solid footing in Dubai, with a license from the region’s top crypto regulator. Amidst the market downturn, Binance has maintained its workforce while several of its competitors laid off their staff.
Your capital is at risk. Crypto asset investments are highly volatile and speculative.
9. Dogecoin (DOGE)
The market’s leading meme coin has continued to witness massive adoption worldwide. After delivering impressive gains in 2021, Dogecoin has proven to be a worthwhile investment, and its popularity has also soared in the African and Middle Eastern regions.
Even with its dominance among meme coins, Dogecoin continues to grow as a more functional asset. The Dogecoin Foundation recently released Dogecoin Core 1.14.6 – an upgrade expected to improve the asset’s functionality and security. Its community – including Tesla CEO Elon Musk – has embraced the upgrade. Dogecoin appears to have taken yet another step towards shedding its “joke” image and becoming a more resilient asset.
Your capital is at risk. Crypto asset investments are highly volatile and speculative.
10. Solana (SOL)
Rounding out our list of the best Dubai cryptocurrency projects is SOL. The native token for the Solana blockchain, SOL became a popular coin in the market after delivering almost 10,00% gains in 2021. Although the market downturn has prevented the coin from delivering more gains this year, investors across the Middle East and Africa remain optimistic.
The biggest draw for Solana is its developer’s foray into other fields. In June, Solana Labs unveiled the Solana Saga mobile phone, delivering an Android device that permits users to access several Web3 functionalities.
Then, in July, they launched Solan Spaces – a physical store in New York where customers would be able to purchase merchandise and obtain educational content on crypto and Web3. Expansions like these show that Solana Labs is looking to expand beyond crypto.
Your capital is at risk. Crypto asset investments are highly volatile and speculative.
History of Dubai Crypto
Dubai has been one of the world’s most accepting cryptocurrency regions this year. The country has proven to be a major hub for digital asset activity, with crypto companies and coin developers able to set up their bases and operate freely. Dubai also has friendly regulations and almost no taxes on profits.
As a result, Dubai currently has a massive adoption base for digital assets. Reports from earlier this year found that about a third of residents in the United Arab Emirates (UAE) own cryptocurrencies, with citizens planning to allocate up to 26% of their investable assets to crypto in the coming years.
The Central Bank of the United Arab Emirates has yet to recognize digital assets as legal tender. However, nothing stops anyone from transacting and owning cryptocurrencies in Dubai.
In February 2022, Dubai enacted Law No. 4 of 2022 on the Regulation of Virtual Assets. The legislation defined “virtual asset” as a “digital representation of value which can be digitally traded or transferred or used as an exchange or payment tool or for investment purposes” and (2) “virtual token” as a “digital representation of a group of rights, which can be issued and traded digitally through a virtual asset platform (a platform operated by a virtual asset provider licensed by VARA)”.
The same law was implemented by the Virtual Asset Regulatory Authority (VARA). VARA’s goal is to create an advanced legal framework that enables crypto companies to operate in Dubai while protecting investors looking to earn profits and build wealth in the fledgling space.
Several of the world’s top exchanges have established a presence in Dubai, thanks to the VARA. These include Binance, Kraken, and FTX. Additionally, the VARA has shown a propensity to embrace new-age technologies, recently announcing that it would open a branch in the metaverse thanks to a partnership with The Sandbox. This would make VARA the first globally recognized regulatory body to leap into this new frontier.
Dubai is also home to many ex-pat traders and Bitcoin billionaires. Binance boss Changpeng “CZ” Zhao bought an apartment there last year. Popular YouTuber and investor MMCrypto also resides in Dubai now. His YouTube channel has a plethora of content advising crypto traders to move to the Emirates.
The Dubai crypto space looks very stable at the moment. The future also looks even brighter, with more companies launching in the region and setting up their operations there.
Dubai Crypto Regulation News
In recent news, the Dubai authorities have continued to expand regulatory approval for some of the world’s largest crypto companies. Late last month, FZE, a subsidiary of crypto exchange FTX, was given Dubai’s first Minimal Viable Product (MVP) license, allowing it to operate in the region fully.
FZE, which is currently in its final test phase, looks to launch fully in Dubai in the coming weeks, providing a broad range of services and products to local investors in the crypto market.
Is Dubai Cryptocurrency a Good Investment?
Investors looking to get into Dubai crypto may be skeptical. However, the market appears ripe for investment. Here are some important things to note:
Dubai’s Strong Economy
Perhaps the region’s strong economy is the biggest reason to invest in Dubai crypto. Reports show that the UAE’s economy was worth $358 billion in 2020. And even with the current global economic climate, the region is expected to grow more over time.
Oil, the UAE’s foremost product, is seeing growing demand due to conflicts in Eastern Europe and rising tensions between some of the world’s top superpowers. This puts the UAE in a good position to benefit, earning more to prop up its economy and provide more investment opportunities for citizens.
Friendly Regulations for Crypto
Dubai’s crypto regulations are also quite friendly. The region now has the VARA, which oversees crypto activity and provides a framework for the industry to operate.
Thanks to the VARA, investing in crypto and understanding the industry’s uniqueness is easy. Investors can also enter the local crypto market without fear that the government’s policies could change suddenly – something that even top economies in the West don’t have.
Regulatory clarity is a boon for any industry. This clarity is one major benefit for Dubai crypto.
Favorable Tax Policies
The tax laws surrounding crypto in Dubai are another major reason investment is encouraged, so it’s no wonder numerous forex brokers have found a home in the UAE.
According to the Ministry of Finance, corporate tax rates in the UAE stand at:
- 0% for taxable income up to 375,000 UAE dirhams;
- 9% for taxable income above 375,000 dirhams; and
Currently, the UAE doesn’t impose any taxes on income earned by individuals or capital gains tax, making it the perfect place to buy stocks. At the same time, corporate taxes have been restricted to foreign banks and oil companies. It is expected that this will change soon. But, even if it does, we expect VARA to enact favorable taxation policies to guide its fledgling crypto space.
How to Buy Dubai Crypto
Now that we know the best Dubai cryptocurrency projects, we’ll examine how to make a purchase. Quint is the best option among the list of Dubai cryptocurrency coins, and it is currently available on the Pancakeswap decentralized exchange.
To purchase Quint, follow these steps:
Get a Wallet
Go to the MetaMask website and download the wallet.
Visit Quint
Visit Quint’s website and click ‘Buy on Pancakeswap.’ Then connect the Metamask wallet.
Buy Quint
Enter the amount of QUINT tokens to purchase. When ready, complete the purchase and QUINT will be transferred to the Metamask wallet.
Conclusion
As one of the most exciting places to live as a crypto investor, Dubai combines favorable tax policies with progressive regulations and a strong economy, creating a perfect environment for its local crypto sector to grow and thrive.
Investors looking to purchase a Dubai crypto coin would be best served by Quint. The asset, currently available on presale, is set to be the next big thing in crypto.