whatsapp
Hot News :

UAE: Paying for Coffee with Crypto? Digital Currency Economy Growing Rapidly

  • 0
  • 617
/media/gulf_articles_01630Tl.webp © Image Copyrights Title

The use of cryptocurrency for everyday transactions is gaining momentum in the UAE, with experts predicting that digital currencies will soon be widely accepted for payments at restaurants, cafes, and fuel stations. According to Mohammed Al Hakim, president of Crypto.com, within the next two years, many businesses and high-net-worth individuals in the UAE will prefer cryptocurrency as a mode of payment. He made this statement during the Sharjah Entrepreneurship Festival, highlighting the increasing interest in crypto-based transactions.

UAE’s Growing Crypto Adoption

The UAE government has positioned the country as one of the fastest adopters of cryptocurrency in the world. This is due to its progressive regulations and strong focus on digital transformation.

Al Hakim pointed out that the number of crypto traders and users in the UAE is rising daily and is expected to double in the next five years. He also emphasized that the government's cashless payment initiatives will further drive crypto adoption.

"With the way the crypto market is evolving, more businesses and individuals are expressing interest in transacting with digital currencies," he said.

He believes that when customers want to pay in crypto and businesses are open to accepting it, it creates a win-win situation, leading to seamless integration of digital payments.

Security in Crypto Transactions

While cryptocurrency adoption is growing, security remains a key concern for users. Al Hakim reassured that the UAE has some of the most secure crypto platforms globally.

"Security is a top priority, and platforms in the UAE are well-protected. Over the past two years alone, crypto adoption has surged by 360 percent," he said.

He also advised potential investors to be cautious and not invest all their money in cryptocurrency, stating that the UAE is one of the safest places to hold digital assets due to strong regulatory measures.

A Future Without Cash?

As businesses and consumers continue to embrace cryptocurrency, experts believe that a fully cashless economy in the UAE is no longer a distant dream.

With the government’s support for digital payments, increasing consumer interest, and enhanced security measures, cryptocurrency could soon become a mainstream payment option for everyday transactions.

Related Posts
© Ramadan 2025: Experts Advise Sleeping on Left Side for Better Health During Fasting

Ramadan 2025: Experts Advise Sleeping on Left Side for Better Health During Fasting

With Ramadan 2025 approaching, health experts in the UAE have highlighted the importance of proper sleep positioning, particularly for those fasting during the holy month. According to medical profess...

  • 194
© UAE’s Call for Sudan Ceasefire During Ramadan Gains Strong Support from Expats

UAE’s Call for Sudan Ceasefire During Ramadan Gains Strong Support from Expats

The United Arab Emirates (UAE) has urged warring factions in Sudan to halt hostilities during Ramadan, emphasizing the sanctity of the holy month and the need for unhindered humanitarian assistance. T...

  • 194
© UAE Company Reports 90% Sales Decline as Fraudsters Use Its Logo in Dh1 Scam

UAE Company Reports 90% Sales Decline as Fraudsters Use Its Logo in Dh1 Scam

A UAE-based company has reported a severe financial setback after scammers illegally used its logo and product images to deceive customers, leading to financial losses amounting to hundreds of thousan...

  • 144
© Mexico Threatens Legal Action Against Google Over "Gulf of America" Name Change

Mexico Threatens Legal Action Against Google Over "Gulf of America" Name Change

Mexico has stated its intention to take legal action against Google if the company follows through with renaming the Gulf of Mexico as the "Gulf of America" for U.S. users of its maps. The controversy...

  • 178
© Dubai's New Salik Toll Gates: How Traffic Patterns on Key Roads Have Changed

Dubai's New Salik Toll Gates: How Traffic Patterns on Key Roads Have Changed

The introduction of more toll gates and dynamic pricing in Dubai has started to reshape the city's traffic flow, but experts say its full impact may take years to be felt....

  • 147
© UAE Jobs: Thousands of Vacancies to Open as Lulu Plans Expansion Across Outskirts of Major Cities

UAE Jobs: Thousands of Vacancies to Open as Lulu Plans Expansion Across Outskirts of Major Cities

Lulu Group, the UAE-based retail giant, is planning an extensive expansion into the outskirts of major cities as the population grows beyond downtown areas. This move will create hundreds, if not thou...

  • 219
© UAE Signs 13 Deals Worth Dh3.97 Billion at International Defence Exhibition

UAE Signs 13 Deals Worth Dh3.97 Billion at International Defence Exhibition

The UAE secured 13 deals worth Dh3.97 billion during the International Defence Exhibition (IDEX) on Monday, with nine of the deals valued at Dh3.8 billion from local companies and four international d...

  • 176
© Dubai: Motorists Opt for Dh25 Public Parking Over Dh80 Private Spaces Near Gulfood Venue

Dubai: Motorists Opt for Dh25 Public Parking Over Dh80 Private Spaces Near Gulfood Venue

Dubai motorists are choosing to pay the steep Dh25 per hour for public parking over the Dh80 fees for private spaces near the Gulfood venue, despite a sixfold increase in charges. The price hike, whic...

  • 161
© Ramadan 2025: Sharjah Eateries Must Apply for Permit to Cook, Display Food

Ramadan 2025: Sharjah Eateries Must Apply for Permit to Cook, Display Food

Sharjah restaurants can now apply for permits to prepare and display food throughout Ramadan 2025. The Sharjah City Municipality announced on Monday that it has started issuing permits for food prepar...

  • 210
© Dubai: Spinach Ice Lollies and Other Cool Foods to Explore at Gulfood 2025

Dubai: Spinach Ice Lollies and Other Cool Foods to Explore at Gulfood 2025

The 30th edition of Gulfood kicked off at the Dubai World Trade Centre (DWTC) on Monday and will run until February 21, showcasing innovative and exciting food trends. Among the notable creations on d...

  • 144
Commnets 0
Leave A Comment