How to Buy Bitcoin in the UAE in 3 Easy Steps

Coinmama Loyalty offers users a great way to save when they buy Bitcoin and other cryptocurrencies. Cementing cryptocurrency as halaal, in April of 2020 the Abu Dhabi Islamic Bank revealed itself as the first Islamic ban to send value internationally via blockchain technology. Deposit funds from your DIB account via one of the available payment methods. Although bitcoin ATMs are far more private than most other options, if you’re looking for total control over your data and the transfer, you should use a peer-to-peer exchange.

• Once you complete the purchase, we will deposit your new crypto directly to your Binance wallet – a safe and simple way to manage your crypto assets.
• You can also store your crypto in OKX’s Web3 wallet to access DeFi platforms and dApps.
• You can use online wallets to store Bitcoin in the UAE, the one of these we would recommend is Exodus Wallet.
• It only charges 0.5% fees on making transactions to buy Bitcoin or sell them.

The Dubai Silicon Oasis free zone will be the first to implement the technology. Regulated crypto exchange in the United Arab Emirates and the Middle East. When you go to your wallet overview, you should now be able to see the value of your bitcoin and the options to withdraw or transfer it. The specific price of one bitcoin changes all the time, between a few thousand dollars to tens of thousands of dollars. The best way to get an up-to-date price is on an exchange, but even then the price is constantly moving. Cloudwards.net may earn a small commission from some purchases made through our site.

How to Buy Bitcoin in

Buy Bitcoin Bank was built to deliver the best cryptocurrency onboarding information for investors around the world. Free and Instant AED deposits from Dubai Islamic Bank to trade 100+ tokens. A cold wallet also comes with a much higher price tag — often over $100 for a basic device. This can be off-putting for new bitcoin buyers, who would rather use a free hot wallet. Although this is reasonable for small amounts, if you’re storing more than a few hundred dollars in bitcoin, a cold wallet is your best defense against losing it all. Well, the only type of Bitcoin wallet you buy is a hardware wallet, because that is a special device designed to keep your coins safe.

For instance, some crypto exchanges offer zero-fee transactions, while others entice customers with innovative reward programs. Ultimately, the goal for every crypto exchange in UAE is to get as many customers to use the exchange service as possible. CoinMENA is a relatively new entry into the crypto trading space in UAE.

Global payments

A https://cryptolisting.org/ teller is located on the 14th road of Baniyas Square at the Coinsfera Bitcoinshop that provides this conversion service. There is also one Bitcoin ATM at Market Square Abu Dhabi, The Galleria Mall ADGM, and other places in the United Arab Emirates. Yes, all the top crypto exchange platforms are regulated and controlled by the governing bodies. You might face restrictions on trading tokens on a Bitcoin exchange platform as the security laws are quite strict.

Most exchanges will let you buy as little as a few dollars worth of bitcoin, or any other cryptocurrency. Depending on the payment method, it could take anywhere from a couple of minutes to days for the funds to arrive at the exchange. You can learn everything about blockchain, crypto trading and more on OKX Academy. According to legal experts consulted for an article inGulf News, the buying and selling of Bitcoin is considered a “tolerated practice” within the UAE.

Since 2007, Etoro has been democratizing traditional money management in order to open the financial markets to everyone, everywhere. Affiliate partners cannot pay CaptainAltcoin to guarantee favorable review or higher ratings on the website. CaptainAltcoin.com does not offer any sort of financial or investment advice.

Finally, while trading bitcoin, you should make sure that you keep your personal information safe. Despite PayPal shielding some of your bank account details from the exchange and vice versa, it has access to all of that information itself. Ultimately, if you want to keep your personal data safe from everyone, you can’t have a third-party provider handling your cash.

Rain is licensed by the Central Bank of Bahrain as a Crypto-Asset Brokerage and is subject to rigorous cybersecurity, capital reserve, and banking compliance standards. Select a crypto and a fiat currency to check the estimated real-time price. If you are not considering selling bitcoin in UAE in physical stores, then Bitcoin ATMs are a convenient option for you, as they allow you to do so without having to go through a third-party exchange. However, there are a few things to keep in mind when using a Bitcoin ATM. A few companies specialize in this, and they will usually give you a fair price for your Bitcoin. Coinsfera.com Bitcoin shop in Dubai would be the safest and most secure option among all to sell or buy bitcoin in Dubai.

How to Buy Bitcoin with Dubai Islamic Bank

Established in August 2018, Bitex UAE addresses a growing demand in the UAE for a secure cryptocurrency wallet and trading platform, with a view to growing into the Middle East market. The company launches with an experienced team of developers, legal advisors, and support staff. BitOasis is a bitcoin consumer wallet and instant exchange focused on cash-based emerging markets in the Middle East & North Africa. The multi-signature BitOasis Wallet also provides the highest level of security. Registering, buying and selling bitcoin on LocalBitcoins is completely free and getting verified is fast and only requires E-mail, Phone number or Identity verification.

One of the most striking things about Regal Assets is the cold storage and offline wallet that they offer. When you purchase bitcoin and other cryptocurrencies, your private keys are stored in a cold wallet securely located away from any natural disaster, emergency or government confiscation. The exchange extended the reach of its services to UAE after dominating the cryptocurrency market in India in terms of trading volume. In 2019, Bitbns was ranked 1st among Indian cryptocurrency exchanges in terms of transparency. Another option for trading BTC involves speculating on the movements of the crypto by using contracts for difference . This requires you to open an account with an online broker, such as XTB, for example, and does not require a wallet or exchange account.

Firstly, these platforms provide for instant crypto coin buys where UAE deposits are protected and compliant with local regulations, meaning your account is safeguarded against loss or theft of funds. Regulated cryptocurrency exchanges are the best way to buy Bitcoin in UAE safely, and there are enough reasons for asserting so. If you’re looking for a non-custodial wallet that supports dozens of different coins, then Exodus might be worth checking out. This desktop wallet comes with an internal exchange, so the wallet can also be used as an advanced platform for crypto trading. For those who need more versatility and security on the go, Exodus also has a mobile app available on both App Store and Google Play Store.

Regal Assets is a prominent precious metals custodian and dealer that is well known among investors for its customer service and state of the art security. Investors can invest in Alternative Assets like cryptocurrency & precious metals which are stored in ultra-secure offshore vaults located in a crypto-friendly jurisdiction. Now that you have an idea of what bitcoin is, let’s get back to our main agenda – how you can acquire this cryptocurrency while in Dubai, UAE and the greater Middle East. There are many options, but we will take you through the most accessible routes. There are four main exchanges you can use to purchase bitcoin in the Middle East. No paperwork – With bitcoin transactions, forget about sending proof of address, showing your passport or ID card or going into a bank.

Also, the UAE’s Central Bank states that virtual assets are not recognized as legal tender in the country. The only valid and recognized currency in the Emirates is the UAE dirham. Ledger Nano X is a popular hardware cryptocurrency wallet with an intuitive design and powerful security features like two-factor authentication. The device utilizes Bluetooth and can store up to 100 cryptocurrencies at once. With its built-in screen, users can easily view confidential information without exposing their private key online.

Buying Bitcoin in UAE

Binance is the best platform that supports more than 500 cryptocurrencies. Some Bitcoin exchanges in the UAE, such as Coinsfera Bitcoin Shop, offer cash deposit methods, allowing customers to buy Bitcoin momentarily. Customers will need to visit a participating exchange and provide proof of identity, along with the amount of Bitcoin they wish to buy using cash. Exchanges will then issue a voucher which can be used to redeem the Bitcoin from their online wallets.

All other questions can be answered from within the Frequently Asked Questions page. By utilizing bitcoin and the blockchain, transaction costs are inherently low. Late last year, we saw Dubai make headlines when a residential real estate was sold in digital currency, notably bitcoin. Yes, it happened in September when Aston Plaza started offering off-plan studio as well as one and two-bedroom units for around 30 – 70 BTC, a time when the digital currency was worth around $4,900 .

Secure

BitOasis is another example of a big crypto exchange in the middle east. The exchange claims to be the “largest digital asset exchange in the middle-east”. They cater well towards those in the UAE, listing all of their crypto market prices in AED.

Finding a Bitcoin ATM is a great way to buy bitcoin instantly if you have cash on hand. Crypto.com accepts deposits in USD, GBP, EUR, SGD, CAD, AUD, NZD, HKD, TWD, NOK, SEK, DKK, CHF, PLN, ZAR, KES, RUB, BGN, RON, ILS, SAR, AED, HUF, CZK, TRY and BRL. Wirex accepts deposits in AUD, CAD, EUR, CHF, CZK, GBP, HKD, JPY, MXN, SGD, and USD.

what is ivykoin ATMs are exactly what they sound like, and they’re the solution to the privacy concerns with bank accounts and PayPal. You can use a bitcoin ATM in the same way you would use a regular ATM, except it’s connected to your bitcoin wallet instead of your bank account. After making your bitcoin purchase, you’ll probably want to move it into your wallet. The specific provider you choose doesn’t matter too much, as long as it can support bitcoin and is trustworthy, so for these steps we’ll use Exodus. So, if you’re big on privacy and want to hide as much of your life as possible, buying bitcoin for your digital purchases might be worthwhile.

• The signup is followed by a Know Your Customer process, which the user can choose to skip for the moment.
• It is disrupting the legacy financial system by offering a borderless, more transparent, and efficient way to transact, invest, and store value.
• With a simple trading platform, OKX is suitable for both beginners and experienced traders.
• CEX.IO is a multifunctional cryptocurrency exchange that is trusted by millions of customers worldwide and allows users tobuy bitcoin with a credit card or debit card seamlessly.
• LocalBitcoins is a person-to-person bitcoin trading platform with over 1,000,000+ active users in which local buyers and sellers can meet up and exchange bitcoin .

Trade activity — higher trading activity indicates heightened investor interest, which can often lead to higher prices as buyers outpace sellers in market movements. Apple Pay and Google Pay are the quickest ways to buy BTC with a credit or a debit card from your iOS or Android device. Verify your identity with the provider you’ve chosen to buy crypto with. This is the best way to make sure that the payment information is only yours. Yes, popular Bitcoin futures exchanges like Binance, Bitmex, and Deribit enable users to long or short BTC with up to 100x leverage. Bitcoin ATMs are an excellent way to buy bitcoin using cash and offer little to no requirements for KYC.

While Bitcoin is not explicitly legal within the region, regulators will not prosecute those who trade in it. There existed some perceived contradiction existing between the UAE central bank’s ruling which prohibited “virtual currencies” andemCash, planned as the official state cryptocurrency of Dubai. However, the central bank’s governor laterclarifiedthat the prohibition does not extend to cryptocurrency. In July of 2021, Dubai’s state-operated Emirates NBD bank and the Department of Economic Development launched a KYC platform based on blockchain technology. This system already has hundreds of participating companies and promises to speed up all kinds of financial processes within the country. Co-Founder & former Investment Banker turned Full-Time analyst and Head of Research at Buy Bitcoin Bank.

Automated Teller Machines may accept debit cards depending on their features. Some ATMs allow direct debit purchases and withdrawals, while others only accept cash deposits with withdrawals of equivalent value in Bitcoin. Before transacting, it is essential to check if the ATM supports the user’s bank account. Rain is the first cryptocurrency exchange to earn a regulatory license in the Middle East and joins an elite group of exchanges internationally. Rain’s platform allows customers to buy, sell, and store crypto in a secure environment on its website and mobile apps.

The government is working on implementing a blockchain strategy with the goal of transforming 50% of the government’s transactions into blockchain entries. While there is acceptance of Bitcoin and cryptocurrency companies in general, this does not seem to translate for Bitcoin ATMs in Dubai. The first Bitcoin ATM in Dubai was installed in March 2019, but only two days later it was removed by the authorities for non-compliance. There are minimal fees of 0.5% per transaction and Changelly does not require you to sign up with your government-issued ID. Coinmama, founded in 2013, has proven itself to be a real bastion of cryptocurrency and especially Bitcoin, fostering a significant amount of interest in the technology.