🟠Bitcoin for Beginners🔥 - A Beginner’s Guide to Acquiring & Buying Bitcoin by BITCOIN DXB 🚀
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Hosts: Dee A & RA George (Blockchain DXB & Bitcoin DXB) Date: 18th FebTime: 18:30 PMLocation: LinkedIn Live (Watch replay here) https://shorturl.at/7ZqnW**Topic:** Bitcoin for Beginners - How to Acquire & Buy Bitcoin

In this session of Bitcoin DXB, Dee A and RA George explore different ways to acquire and buy Bitcoin beyond just purchasing it from centralized exchanges. The discussion covers key aspects like accepting Bitcoin as payment, the Lightning Network, strategic Bitcoin reserves, and decentralized alternatives. They also touch on regulatory aspects, including Dubai's Virtual Assets Regulatory Authority (VARA) and the growing acceptance of Bitcoin by UAE banks.

🔹 Accept Bitcoin as Payment: Businesses and freelancers can start accepting Bitcoin for goods/services. Some offer discounts for BTC payments (e.g., AED 2,000 in fiat vs. AED 1,800 in BTC).🔹 Lightning Network: How businesses can process payments in fiat but receive BTC via the Lightning Network (Recommended resources: Blockstream), Lightspark), Strike)).🔹 State-Level Bitcoin Reserves: Some U.S. states allow tax payments and donations in Bitcoin, often converting other cryptos to BTC automatically.🔹 City Coins & Bitcoin Mining: Inspired by Vitalik Buterin’s concept, cities could issue tokens to mine Bitcoin, with rewards benefiting local economies.🔹 Bitcoin Mining: Though extremely expensive now, individuals or businesses can join mining pools.🔹 Bitcoin & Charity: How Bitcoin is being used for donations and its regulatory challenges in the UAE.🔹 Podcasting & Bitcoin: Platforms like Fountain) enable listeners to earn Bitcoin while streaming podcasts and allow creators to receive Bitcoin tips.

🔹 P2P & OTC (Over-the-Counter) Trading: Platforms like Paxful and Binance P2P allow direct Bitcoin transactions, but scams remain a concern.🔹 Government Bitcoin Auctions: Historical examples of seized Bitcoin being sold at discounted rates (e.g., Tim Draper buying 30,000 BTC from U.S. government auctions).🔹 Bitcoin ETFs & In-Kind Redemptions: Institutions may soon allow Bitcoin ETF redemptions in BTC rather than cash.🔹 Buying Bitcoin via Banks: UAE banks have started offering Bitcoin purchases via mobile banking apps—users should check custodial vs. non-custodial holdings.🔹 Centralized Exchanges: Binance, Bitoasis, and Crypto.com (ensure compliance with Dubai’s VARA regulations).🔹 Decentralized Exchanges (DEXs): Buying Bitcoin via Uniswap, Radium, and other DEXs requires stablecoins or other crypto first.🔹 Bitcoin Gift Cards: While an option, they carry risks due to scams and stolen credit cards.

✅ VARA (Virtual Assets Regulatory Authority) - Regulates exchanges in Dubai.✅ ADGM & FSRA (Abu Dhabi Global Market & Financial Services Regulatory Authority) - Key regulatory bodies in the UAE.✅ RAK DAO (Digital Asset Oasis) - Focuses on digital asset regulations in Ras Al Khaimah.✅ AML/KYC Requirements - Why identity verification is crucial when using exchanges.✅ Tax Considerations - Potential tax implications when selling Bitcoin for profit.

📌 How to Store Bitcoin - Best practices for custodial vs. non-custodial storage, hot vs. cold wallets, and advanced options like paper & brain wallets.

📍 Blockstream - Lightning Network)📍 Lightspark - Bitcoin Payments)📍 Strike - BTC Payments)📍 Fountain - Podcasting 2.0)📍 Dubai’s VARA - Regulatory Info)📍 ADGM & FSRA)📍 RAK DAO)

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