BitOasis announced Wednesday that it would begin offering instant fiat bank deposits to its UAE-based crypto investors and traders.
The firm, a UAE-based online crypto asset trading platform launched in 2015, said that the new feature, named ‘BOLT’, had been introduced to eliminate wait time with bank-to-exchange transfers, and to help traders make the most of “well-timed trading opportunities.”
“The crypto space is no stranger to price volatility. Given recent price fluctuations, the slightest of delays in deposits on crypto exchanges can impact your trading strategy. BOLT will allow users to move quickly on trading decisions and make an especially big difference for high-value transactions,” Ola Doudin, CEO and co-founder of BitOasis said.
The new feature is now open to all UAE-based, KYC verified BitOasis users. Currently the deposit amount per transaction is capped at AED25,000, but users can make multiple deposits of up to AED25,000 with no restriction on frequency, the firm said.
A 1 percent fee of the deposit amount will be applied to all BOLT transfers – although the first deposit is free with the new feature.
“The enabling of instant deposits on BitOasis also demonstrates our tech capability to develop and roll out new features that improve our customers’ experience with trading and investing on the platform. BOLT will now provide the fastest and most secure way to invest in crypto assets in the UAE,” Doudin added.
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