Buy Bitcoin in Dubai UAE

Bitcoin is a digital currency or cryptocurrency that uses peer-to-peer technology. It is mostly used by people or businesses to make payments instantly without a third-party. People buy bitcoin as an investment or to be used as a currency. Bitcoin is an electronic currency that can be held only by computers or smartphones. Unlike regular currencies such as the Dollar, Euro, Yen, or Rupees you can’t keep it in your pockets. It isn’t controlled by any authorities such as banks. Bitcoin is the first and one of the examples of cryptocurrencies. There are other cryptocurrencies such as Ethereum, Litecoin, Steller, Polkadot, etc.

Investing in Cryptocurrencies or Bitcoins is fairly hard for beginner investors. Cryptocurrency has taken over the investment industry over the last few decades. But still, you can find thousands of news on the internet about how investors have been scammed or deceived. The major concern for most investors is security and safety. But, some cryptocurrencies offer real protection to their investors.

Buy Bitcoin in Dubai UAE

Best Exchanges to Buy Bitcoin in Dubai

Dubai is emerging as one of the global leaders in crypto trading. Although bitcoin is not recognized as a legal tender in Dubai, still there is no restriction on buying or selling Bitcoins. If you are wanting to buy or sell Bitcoins in Dubai, it is a totally fair and legal process. Just like any other country in the world, you can either buy or sell Bitcoin with the help of the Crypto Exchanges in Dubai.

1. Binance

Binance is the leading trading platform in the world. They have one of the most competitive exchange rates. Binance allows investors from around the world to invest and has amazing customer reviews. It was founded back in July 2017 by Changpeng Zhao.

Binance allows its users to buy crypto in several ways such as credit card, debit card, P2P trading, SEPA, and Wire Transfers. The basic trade setting and UI are simple and easy to use. You will find only the necessary information while you trade in Binance. It allows traders to find the most important charts and rates without any complication. Binance is a professional trading platform and it can be complicated for beginners. However, it won’t take you long to understand.

Here are some of the features and trading information about Binance:

Trading fees: Binance trading fees are charged at 0.1% of each purchase or sale made by users. The fees can be reduced if the user decides to pay in Binance coins. So, the final fee will be 0.05%.

Deposit and withdrawal fees: Binance doesn’t have any deposit fee and charges 0.1% for all trades. It also offers a 50% discount if you use Binance Coin.

Deposit methods: Credit or debit card, Wire.

No. of coins/pairs: It supports trading in more than 100 coins and pairs.

Type of trades: Binance offers a wide range of trading options such as Margin Trading, Quarterly, and Perpetual Trading, Leverage Tokens, and many more.

Pros

  • Fewer fees than other exchanges
  • Fast and easy user interface
  • 24/7 customer service
  • Has advanced user security and safety

Cons

  • Too much advanced for beginners
  • It has fewer trading pairs than its competitors

2. Rain

Rain is the first cryptocurrency brokerage system in the Middle East. It was licensed by the Central Bank of Bahrain (CBB) as a Crypto Asset Brokerage. Rain is currently operating in Bahrain, Saudi Arabia, UAE, Kuwait, and Oman. It offers you to buy cryptocurrencies like Etherium, Bitcoin, Litecoin, etc. Rain allows you to buy cryptocurrencies instantly using your bank account, credit, and debit cards.

Rain has the best rates in the Middle East and it has a competitive rate internationally. You can buy, sell or store cryptocurrencies with Fiat currencies such as BHD, USD, ED, ASR, KWD, and OMR. Rain also offers its users 24/7 customer support. Users can contact Rain customer service through phone-call, Email, or live-chat. Rain uses bank-grade security, cold storage, and an encryption-based security system to meet the highest level of customer protection and also qualifies for CCSS.

Here are some of the features and trading information about Rain:

Trading fees: Users pay 1.5% of all transactions using bank transfer and 4% using debit or credit card.

Deposit and withdrawal fees: Rain doesn’t have any deposit fees as well as local withdrawal fees (Bahraini Dinar/BHD). Here are the withdrawal fees for other currencies:

  • Kuwaiti Dinar: KWD 5
  • Saudi Riyal: SAR 50
  • UAE Dirham: AED 50
  • Omani Rial: OMR 5
  • US Dollar: USD 15

Deposit methods: Credit or debit card, bank transfer

No. of coins/pairs: It currently supports trading in Bitcoin, Litecoin, Ethereum, and XRP

Type of trades: Spot Trading

Pros

  • Easy to buy in the Middle East
  • High limits and liquidity available
  • Shari’a Compliant
  • 24/7 customer support
  • High-level customer security

Cons

  • Only available in the Middle East
  • Has only 4 pairs

3. BitOasis

BitOasis is one of the leading cryptocurrency trading platforms in the Middle East and MENA region. It was founded back in 2015 and its headquarters is located in UAE. It allows citizens of the Middle East and MENA region to buy, sell, or trade cryptocurrencies such as Bitcoin along with 20 other cryptocurrencies. It mainly focuses on users based in the Middle East. Countries such as UAE, Saudi Arabia, Kuwait, Bahrain, Oman, Egypt, Jordan, and Morocco are the countries that support BitOasis.

BitOasis allows users to deposit with their debit or credit card and they can withdraw directly to their bank accounts. You can download their mobile app on your Android or IOS phones and start trading. The main currency used in BitOasis is the currency of the UAEs Dhiram. However, you are allowed to trade in USD as well. IOS users can take the advantage of Mobile wallets support.

Here are some of the features and trading information about BitOasis:

Trading fees: Trading fees will apply every time you purchase or sell your currencies. BitOasis takes 0.5% from your purchases and sales.

Deposit and withdrawal fees: BitOasis doesn’t have any deposit fee. It charges 65 AED per withdrawal order for local withdrawals (within the UAE) 130 AED per withdrawal order for international withdrawals.

Deposit methods: Credit or debit card

No. of coins/pairs: It currently supports trading in 20+ pairs.

Type of trades: Spot Trading

Pros

  • Debit and credit card support
  • Mobile wallet support for IOS users
  • Best of trading in Dhiram

Cons

  • High trading rates
  • Average customer support
  • A few cryptocurrencies supported

4. LocalBitcoins

LocalBitcoin is a peer-to-peer (p2p) trading platform that allows buyers and sellers to trade bitcoins directly. LocalBitcoins was founded by Nikolaus Kangas back in 2012. Since 2012 it has become one of the world’s leading marketplace without any outside investments. LocalBitcoins is available worldwide, including 248 countries.

LocalBitcoins has a variety of payment methods for trading Bitcoins such as PayPal, Payoneer, Wire, SEPA, and many more. Since everyone can become a seller, the chances of getting scammed are high. You should be careful while you are trading in LocalBitcoins. Just follow the safety guidelines and you will be good to go. Unlike most exchange platforms LocalBitcoins allows users to communicate and trade directly. Its in-built escrow provides a high level of security to buyers. LocalBitcoins also puts advertisements, which allows you to pick the deals that suit your situation. It also supports 120+ fiat currencies.

Here are some of the features and trading information about LocalBitcoins

Trading fees: LocalButcoin users who create ads will be charged 1% for every completed trade and the person who is responding to the ads will not be charged any fees. It charges withdrawal fees as the same as the bitcoin network fee. Their withdrawal fee is among the lowest in the industry average.

Deposit and withdrawal fees: Deposit fees vary on the deposit method. If you choose to deposit via credit card you can be charged up to 11%.

Deposit methods: Credit card, wire, cash deposit, SEPA, Skrill, Wechat, and many more.

No. of coins/pairs: It currently supports Bitcoins.

Type of trades: Spot Trading

Pros

  • You can buy bitcoins privately
  • It has a variety of payment methods
  • Supports 248 countries
  • Fast customer service

Cons

  • Scam advertisements
  • Only bitcoin is available
  • The exchange rate is usually higher than other platforms (1%)

5. Changelly

Changelly is a popular cryptocurrency exchange platform that allows users to trade instantly. Users can access more than 160 coins and tokens using Changelly. It offers an ecosystem of products and services that provide users with a one-stop-shop experience for buying, selling, or trading cryptocurrencies. Changelly was founded back in 2015 and it has gained over 2 million users over the years around the world. Changelly is also partnered with some of the reputed and popular trading service providers such as Binance, Exodus, Coinomi, and many more.

Changelly allows users to purchase with their debit and credit card. It also offers one of the best rates around the world. Changelly also offers a beginner crash course for new traders so they can learn all about trading and keep them safe from scammers. There are no hidden charges as well. Changelly only takes a 0.25% commission and a small fee to send the transaction on the blockchain.

Here are some of the features and trading information about Changelly:

Trading fees: users can exchange crypto-to-crypto at floating rates, for which Changelly charges the industry-wide lowest 0.25% fee.

Deposit and withdrawal fees: Changelly doesn’t charge anything on deposits. It takes up to 12% from every withdrawal.

Deposit methods: Users can deposit funds using credit or debit cards via fiat transfers through Changelly’s corporate partners.

No. of coins/pairs: It supports 160+ coins including Bitcoin, Ethereum, Loopring, Lisk, and many more.

Type of trades: Spot Trading

Pros

  • 160+ coins available
  • Low rates
  • Suitable for beginners
  • Good customer support

Cons

  • High fees when changing fiat currencies
  • Can be slow sometimes

6. Coinmama

Coinmama is one of the leading cryptocurrency trading platforms that offers its users to buy a variety of cryptocurrencies. It was established back in 2013 in Israel. Since then Coinmama has built a customer base of 2 million users and is still growing every day. It was the first platform that partnered up with Apple Pay. It mainly focuses on customer service and customer experience. So it is known as one of the quickest platforms with great customer service. It only takes new users 30 minutes to get verified in Coinmama.

Coinmama is supported across 188 countries. Users will have the access to multiple cryptocurrency coins such as Bitcoin, Ethereum, Ripple, Litecoin, Cardano, EOS, and many more. It also accepts debit and credit cards that are issued by VISA and MasterCard. It also supports direct bank transfers with no processing fees. Coinmama users are able to freely enter the exact amount of USD, CAD, Australian Dollar, Euro, GBP, or JPY to purchase cryptocurrencies.

Here are some of the features and trading information about Coinmama:

Trading fees: The brokerage service fee is 5.9% and the credit card processing charge is 5%. So users will be charged 10.9% on every transaction. SEPA bank transfer charges are 3.9%. If you are using SWIFT then you will be charged $20 if you purchase under $1000.

Deposit and withdrawal fees: There is a 5% deposit fee only on credit cards. There are no withdrawal fees.

Deposit methods: Credit or debit card issued by VISA and Mastercard, SEPA, SWIFT, Fedwire, FasterPayments, bank transfer, and Sofort

No. of coins/pairs: It currently supports Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), Cardano (ADA), Qtum (QTUM), Ethereum Classic (ETC), EOS (EOS), and Tezos (XTZ).

Type of trades: Spot Trading

Pros

  • Fast customer service
  • Available in 188+ countries
  • Secure and fast exchange
  • Beginner-friendly
  • Fast verification process

Cons

  • Fewer coins
  • High fees for buying with credit or debit cards

7. FTX

FTX was founded back in 2019 by Sam Bankman-Fried and Gary Wang. FTX offers a derivatives exchange, meaning users don’t actually trade the underlying assets instead, they will buy a ‘contract’ of the underlying asset or a token that represents another asset or funds. FTX recently partnered with the world’s largest crypto exchange platform Binance. FTX allows all beginner, intermediate and advanced users to trade. FTX can be accessed globally unless you are a citizen of restricted countries such as North Korea or Syria.

The main trading product offered by FTX is cryptocurrency derivatives trading like Bitcoin Perpetual Future. Derivatives are financial instruments that derive value from the underlying product such as cryptocurrencies like Bitcoin. The FTX exchange contracts are based on the underlying assets rather than their own assets. That means users will get higher leverage and more types of products. FTX offers up to a maximum of 101x leverage on derivative products.

Here are some of the features and trading information about FTX:

Trading fees: There are no deposit and withdrawal fees. However, Leverage Tokens have creation and redemption fees of 0.10% and daily management fees of 0.03%. If you choose to trade in 50x leverage your fees will be increased by 0.02% and with 100x it will be increased by 0.03%.

Deposit and withdrawal fees: There are no withdrawal and deposit fees

Deposit methods: FTX has a wide range of deposit methods including cryptocurrency, stablecoins, and fiat currency. You can also purchase crypto using a credit or debit card, PayPal, or wire transfers through Simtex.

No. of coins/pairs: It currently supports Bitcoin along with 50 other altcoins

Type of trades: Spot, Future, Leverage Tokens, Options, Move

Pros

  • Low fees
  • Multiple trading options
  • Credit or debit card option
  • No withdrawal and deposit charges

Cons

  • Not made for beginners
  • Leverage tokens can be risky

8. Gate.io

Gate.io was founded back in 2013, making it one of the oldest exchange platforms in the world. It has a simple interface for beginners as well as advanced features for experienced traders. Gate.io is a secure and reliable platform that allows users to trade in Bitcoins, Ethereum, EOX, Tezos, and many more. Gate.io is also very secure. It has Industry-level security that protects its users from all kinds of threats including scammers and hackers. The trading volume is also very high on Gate.io. It trades almost $100 million every day.

Gate.io offers Margin, Derivatives, and futures markets to trade cryptocurrency with leverage up to 100x. You will have access to over 180 crypto pairs while you trade in the spot market. Gate. io mobile app allows users to monitor or trade from anywhere in the world. You can also get crypto loans to pledge on an asset to borrow another. People can borrow crypto from you as well. You can get a discount if you trade with a larger amount.

Here are some of the features and trading information about Gate.io:

Trading fees: The trading fee is significantly lower than the industry level. Gate.io charges a trading fee of 0.20% while the industry fee is 0.25%.

Deposit and withdrawal fees: There are no deposit fees. Gate.io takes up to 0.0005 BTC per BTC. That is 40% lower than the industry level.

Deposit methods: There are no deposit methods other than cryptocurrency. So you have to buy cryptocurrencies from other platforms and then you can start trading in Gate.io.

No. of coins/pairs: It supports Bitcoin along with 180 other pairs

Type of trades: Margin, Spot, Perpetual

Pros

  • Excellent customer service and security
  • 180+ pairs to trade
  • Margin trading with 10x leverage
  • Low fees

Cons

  • There are no deposit methods other than cryptocurrency
  • The mobile app has bugs

9. Kraken

Kraken is known to be the largest bitcoin exchange in terms of liquidity and euro volume. It was founded by Jesse Powell back in 2011. It is an advanced platform that offers users a wide range of features including spot and margin trading. Kaken mostly focuses on security and customer service. It also has one of the most competitive rates. Kraken offers 24/7 customer service around the world. Kraken is an easy-to-use, safe, and secure platform that allows users to purchase or sell cryptocurrencies. Kraken also has a mobile app for both Android and IOS platforms. So you can easily monitor your account and trade from anywhere you want.

Kraken has a dark pool trading system. The dark pool allows users to have an invisible order book so they can see and save their orders. Other traders can’t see your order book since it is invisible and only you can see or access it. Basically, you can trade and keep your information private. Kraken supports more than 40 cryptocurrencies such as Bitcoin, Ethereum, EOS, Kava, Lisk, and many more.

Here are some of the features and trading information about Kraken:

Trading fees: The trading fee of makers is 0.16% and for takers is 0.26%. The trading fee can be as low as 0.00% for makers and 0.10% for takers if your monthly trading volume is over $10,000,000 per month.

Deposit and withdrawal fees: You will be charged $5 if you choose to deposit in USD and 0.0005 BTC and 0.005 ETH as withdrawal fees.

Deposit methods: Deposits can be done with Wire transfers, SEPA, SWIFT, domestic transfers, fiat transfers. There are no credit or debit card options available on Kraken.

No. of coins/pairs: It supports Bitcoin along with 40+ other pairs

Type of trades: Margin and Spot

Pros

  • Low fees
  • Good customer support
  • Secure and safe
  • 40+ cryptocurrencies to trade

Cons

  • Requires ID verification
  • Not beginner-friendly
  • No credit or debit card support

10. KuCoin

KuCoin is one of the newest platforms on this list. It was founded back in 2017. It is an easy-to-use and secure platform where you can trade 200+ cryptocurrencies. KuCoin has its own cryptocurrency called KuCoin Shares or KCS. Users usually get a discount if they buy KCS. In early 2018 KuCoin gained over 1 million users. KuCoin offers users to have a simple and safe trading platform where beginners trade along with experienced traders. It also offers users 24/7 customer service.

KuCoin has a built-in P2P exchange. So KuCoin users will have the advantages of fast and cost-effective transactions. It also allows you to buy cryptocurrencies with credit and debit cards. There are no limits to funds that you want to deposit or withdrawal as well. KuCoin is secured by an encryption protocol that keeps your personal information private and secure. Moreover, there is an internal risk department that keeps your funds safe and secure.

Here are some of the features and trading information about KuCoin:

Trading fees: You will be charged 0.1% of the trading fee minus any discounts

Deposit and withdrawal fees: KuCoin does not have deposit fees. You will be charged 0.0005 BTC and 0.01 ETH as withdrawal fees. If you want to withdraw via methods other than crypto, you will be charged 3% to 6% of withdrawal fees.

Deposit methods: Cryptocurrency, Credit, or debit card, fiat transfer

No. of coins/pairs: It supports Bitcoin along with 200+ other pairs

Type of trades: Margin, Spot, and Future

Pros

  • Low fees
  • 200+ cryptocurrencies to trade
  • Beginner-friendly UI
  • 24/7 customer support
  • No verification is required

Cons

  • No direct bank transfer
  • Low trading volume

Buying Guide-To Buy Bitcoin in Dubai

Cryptocurrency in Dubai is gaining more mainstream media attention day by day. People are showing enthusiasm to get into the Bitcoin buying activity in Dubai, UAE. As of now, there are hundreds of Cryptocurrency trading platforms available in the Dubai market. Although Dubai doesn’t recognize Bitcoin as a legal tender. Still, there are no restrictions on buying or selling Bitcoins.

Buy a secure wallet to store investment

Most of the crypto exchange platforms offer built-in centralized wallets. But using centralized wallets have their own risks. If you want to buy Bitcoins in Dubai, you have to buy a crypto wallet to store your valuable investments. Nowadays the world is full of hackers. So there is a big chance of hackers stealing all your investments by hacking into your wallet. So using a cold storage hardware wallet such as Trezor or Ledger Nano S will provide you protection from theft and keep your investment safe.

Choosing a suitable trading platform

Once you’ve purchased your wallet, now it is time for choosing the cryptocurrency exchange platform. There are hundreds of trading platforms available in the UAE that offer Bitcoins along with other cryptocurrencies. You can choose between UAE-based trading platforms such as BitOasis or global platforms such as Binance and LocalBitcoins.

Choosing the best platform that suits your terms and conditions is very important. Make sure to check all the trading options, available coins or pairs, trading fees, deposit, and withdrawal fees. Once you’ve checked all the details and chosen a platform that suits your conditions, you can start trading.

Investing in Bitcoins can be risky. Experienced traders face losses all the time. It takes time to understand how cryptocurrency works. If you are a beginner trader make sure to go slow at first. Once you’ve gained some experience, you can start investing in big amounts. Also, Bitcoin can not be controlled by the Government. It creates more risks more than bank transactions. However, you can easily buy or sell Bitcoins. Keeping yourself updated with the latest values of Bitcoins is very important because the price of Bitcoins fluctuates wildly.

FAQ

Is bitcoin legal in Dubai?

Bitcoin is not recognized as a legal tender in Dubai. However, you can purchase or sell Bitcoins legally in Dubai. You don’t have to get a license to trade in Bitcoins as well.

How to buy bitcoins in Dubai?

It is easy to buy bitcoins in Dubai. Make sure that you purchase a cold storage wallet to store all your investments. Then select a platform that suits your conditions. Sign up for the platform and put all your information correctly (some platforms don’t require this part). Now connect your wallet and purchase your desired cryptocurrency and start trading.

What are the best crypto trading platforms in Dubai?

There are hundreds of crypto trading platforms available in Dubai. But we are looking for the best platforms. Binance is known to be the leading crypto platform in the world. Binance offers a variety of features to its users such as low withdrawal (0.1%) and trading fees (0.5%), multiple deposit methods, 100+ coins, and many more. If you don’t like Binance you can go for BitOasis or LocalBitcoins as well.

What is the global price of bitcoins?

You can know the price of bitcoin on sites like CoinMarketCap. Google also displays bitcoin’s price when you search ‘Bitcoin’.

Is investing in bitcoin safe?

Investing in bitcoins comes with its own risk. So make sure you are partnering with platforms that meet all the KYC and AML guidelines.

Where is the bitcoin ATM located in Dubai?

UAEs first bitcoin ATM was located at Rixos Premium Hotel in JBR. But it was removed by the authorities for non-compliance. So there is no bitcoin ATM available in Dubai.

What are some of the cryptocurrencies other than bitcoin?

Ethereum, Ripple XRP, Litecoin, NEO, IOTA, etc.

How to open an account to trade in Dubai?

In order to create an account to trade-in Dubai, you have to create an account with KYC/AML compliant companies such as Regal Assets.

Can I purchase something with bitcoin in Dubai?

Yes, it is possible to buy things with bitcoins. But you can’t buy anything locally. You have to purchase products or services online.

Conclusion

Those who are looking for trusted and secure cryptocurrency trading platforms in the city of Dubai will always want to do thorough research on existing platforms before making any transaction. Hopefully, this article has helped you to learn about crypto platforms and how to invest in Bitcoins.

All the platforms offer mobile compatibility on both Android and IOS. Platforms like Binance can be used worldwide and other platforms like Rain can be only used in the Middle Eastern region. Some platforms support credit or debit cards and some platforms don’t. Some platforms have high trading fees and some platforms have low trading fees. So make sure you read the full article and choose the best platform that suits your situation.