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BitOasis Exchange Raises AED Withdrawal Fees by 200%

BitOasis Exchange Raises AED Withdrawal Fees by 200%
  • Triple increase in BitOasis AED Withdrawal Fees
  • New price fees are effective as of today, Tuesday 19 Jan 2021.
  • The rise results from their banking channels also increasing their charges

Dubai-based crypto exchange, BitOasis is circulating emails notifying users about the increase in withdrawal fees as of today, Tuesday 19 January 2021. Withdrawal fees will change to 200 AED local and 250 AED for international withdrawals.

All along, the withdrawal fees ranged between 65 AED per withdrawal order for local withdrawals (within the UAE). Also, 130 AED per withdrawal order for international withdrawals.

Bitoasis exchange website
Source: BitOasis Exchange website

Firstly, the exchange notes that:

“The changes are necessary due to our banking channels, having further increased their charges.”

This has made the previous fee structure unsustainable for BitOasis. Additionally, BitOasis says that it chose not to pass the increase in 2020. However, it has reached a stage where they are unable to do so any longer.

bitoasis report

Meanwhile, the exchange says that it will continue to work with its banks to reduce the fees. They hope to have a positive answer soon.

Founded in 2015, BitOasis is the Middle East & North Africa’s leading digital asset exchange and wallet. Furthermore, it also offers multiple digital assets to buy, sell and trade against the UAE Dirham (AED). Lastly, BitOasis claims to be the Middle East’s first digital currency wallet that uses multi-signature technology.

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