Bitcoin & Cryptocurrency Trading in Saudi Arabia Bitcoin is legal in Saudi Arabia and there are no restrictions on individuals purchasing or spending Bitcoin. Banks, on the other hand, are banned from dealing with the cryptocurrency.
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- Get the Latest from CoinDesk
- Morocco-Banned Bitcoin Reaches $50K
- Saudi Arabia’s Ban on Bitcoin is Unlikely To Last
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Easiest Buy Bitcoin instantly with your debit card or credit card. Diversity Buy cryptocurrencies and stocks all in one platform. Buy Bitcoin Saudi Arabia. Buy Bitcoin. Payment Methods Debit Card. Credit Card. Pros The first cryptocurrency exchange in the Middle East.
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- The best crypto exchanges from!
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- Looking for more ways to buy bitcoin?.
Cons Could offer more cryptocurrencies. Ease of Use. Payment Methods Credit Card. Debit Card. They are a good local option for users looking to buy Bitcoin on a local exchange. Payment Methods Bank Transfer. Bank Wire. Pros 0. Cons Not the most reputable exchange worldwide. Trade a range of assets in one platform eToro is a world renown multi-asset brokerage company that allows users to invest in Bitcoin as well as buy and trade other cryptocurrencies, stocks, ETFs, currencies, indices and commodities. Pros Gold standard in terms of regulation and security.
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Cons It isnt a pure Bitcoin exchange, which results in high fees. Bear in mind, however, that you will have to convert your fiat to the AED before trading which could add an extra cost. As of spring , BitOasis has reportedly secured preliminary approval with financial regulators from the UAE. CoinMama is available in virtually every country in the world which is why it has been able to operate for so long.
It was launched in in Israel but is based in Slovakia. Additionally , Saudi Arabia became one of its served regions because it allowed buying through credit or debit cards. However, for Saudis looking to purchase Bitcoin, it is a small price to pay given that there are not many options available.
Assess whether you believe the fee to be worth it or just use BitOasis. Paxful is less of an exchange and more of a peer-to-peer platform where you can trade BTC for various fiat currencies.
Morocco-Banned Bitcoin Reaches $50K
Be warned, however, that Paxful does not verify IDs and there is low liquidity so be wary of fraud. Even so, in a country like Saudi Arabia where the legality of cryptocurrency is vague, peer-to-peer platforms like Paxful tend to be increasingly more popular. Besides these exchanges, there are also other methods for purchasing Bitcoins. For example, LocalBitcoins is available in Saudi Arabia which allows you to directly connect with buyers. This might be a suitable way for some investors since it is face-to-face.
Saudi Arabia’s Ban on Bitcoin is Unlikely To Last
It also has a social character, where you meet the person you are trading with, essentially building a social trust network of sorts. LocalBitcoins can also lead to ad-hoc social-media networks of bitcoin-exchange. They can be found on this map here. Bitstamp is a bitcoin marketplace based in the European Union and has been around since Finding a Bitcoin ATM is a great way to buy bitcoin instantly if you have cash on hand.
There is a Bitcoin ATM in every region of the world. See the full map here. Customers based in any of the major cities in Saudi Arabia are able to buy bitcoin from any of the exchanges on this page. With over three million users, CEX. IO is the simplest and most popular exchange for citizens in Saudi Arabia to buy cryptocurrencies. The verification process on CEX. IO is quite extensive which makes it one of the most secure exchanges on the planet. VISA and Mastercard deposits incur a 2.
Skip to content Saudi Arabia. Pros Diverse selection of markets Excellent reputation User-friendly interface Great customer support Low fees. Cons Bitcoins can only be withdrawn in the form of fiat currency. Pros Trustworthy management High volume exchange Low fees A large number of cryptocurrency pairs Global support. Pros Established and trustworthy Supported worldwide Low fees Simple credit card purchases Clean user interface. Cons Verification procedure requires private information Lengthy verification time.
Pros Excellent customer service Advanced trading tools Low fees.
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Cons Bank transfers can take 1 to 5 days to complete Above-average fees. Pros Respectable reputation Global support Reliable customer support Tiered verification Affordable fees. Cons Few payment methods Sophisticated UI. Pros Available worldwide High purchasing limits Dependable and trustworthy Excellent leadership and customer support Fast and secure transactions. Cons High fees when purchasing with a credit card or debit card Delay in processing time. Pros A large number of cryptocurrency pairs Strong security Privacy.
Pros Supports many currencies Large selection of cryptocurrencies High purchasing limits Ledger and Trezor wallet support. Cons Buyers and sellers are at risk of being scammed. Pros Available in every country of the world A diverse selection of buyers and sellers Supports many payment methods Buyers get their bitcoins fast Private. Cons Lack of cryptocurrency diversity Both sellers and buyers have a chance of being scammed.