The cryptocurrency industry is on the rise every waking hour of human life. With the advancement of technology, nothing seems to hold the Bitcoin industry to perpetually discover new items as time goes by. So, as the industry supercharges highly, you need to find the best cryptocurrency exchange platform for your Bitcoin investment, especially in Dubai and its environs.
However, with plenty of the best cryptocurrency exchanges in Dubai, it can be hard for newbies to select the best cryptocurrency exchange platform for their needs. Thus, there is a need of making the right decision upfront. So, in this article, we’ve documented the top cryptocurrency exchange in Dubai you can use this year. They include;
- Coinbase
- eToro
- Binance
- CEX.io
- BitOasis
- Rian
- Coinmama
As far as they’re the best cryptocurrency exchange in Dubai, they have different features that make them unique from each other. Therefore, your taste and preference will help you select the most preferred exchange platform for your need. To help you make a substantive decision, we’ve structured a detailed table highlighting the strengths and weaknesses of each crypto exchange.
Summary of the best cryptocurrency exchange
Cryptocurrency Exchange | Strengths | Weaknesses |
| Coinbase | · It is the most renowned crypto exchange in Dubai · Has a user base of fifty-six million · Allows debit cards for purchase
| · There is a deposit fee charged on debit card · Involves a trading commission of 1.49 percent. |
| eToro | · Has more than two million users · Ideal for newbies · Prohibits card payments, local banks, and eWallets · Is under strict supervision by CySEC, FCA, and ASIC
| · Doesn’t support MT five and MT4 · Not suitable for the advanced traders |
| Binance | · Offer crypto saving accounts · Good for both experts and novice · Prohibits bank transfer and debit card · Give supports for 100 of other digital asset pair | · Doesn’t allow the use of eWallets · Doesn’t support the use of the debit card for all crypto |
| CEX.io | · Supports more than 80 different altcoins and crypto · Comes with features such as staking rewards, margin trading, etc. · Simple to navigate and use
| · Not available in Virginia or New York · Provides limited cryptocurrencies, only 80 · Lack live customer support |
| BitOasis | · Easy to use · Ideal for people living in Middle East Region · Comes with other special offers and trading tools | · The site has lots of ads displayed · Takes time to complete your withdrawal request · Gives only those living in the Middle East an added advantage |
| Coinmama | · Offer faster payments · Has a 0 transaction fee as opposed to other exchange platforms · Allows several payment methods such as Apple Pay, Credit cards, and debit card among others · 9 different crypto are available · It’s user friendly | · Doesn’t allow mobile trading · Crypto-crypto transactions are not permitted · A seller cannot do a transaction with the buyer · Doesn’t support crypto wallets |
| Rain | · It is licensed as an Asset Brokerage by the CBB, Central Bank of Bahrain · Offers 24/7 customer support · Have supportive articles for clients to read. · One of the most honorable crypto exchanges in the Middle East | · Only available in a few selected countries including UAE, Oman, Kuwait, and more |
The above table provides a summary of all the best cryptocurrency exchanges in Dubai. Highlighting the pros and cons of each exchange might help you land on the most preferred and convenient crypto exchange for your cryptocurrencies this year. Having said that, let’s discuss each one of them in detail.
Best 7 Cryptocurrency Exchange in Dubai
As a crypto miner, having the best crypto exchange is one of the top priorities you ought to consider for your success in mining Bitcoin. And, so, in this article, we’ve narrowed it down to the best and the safest exchange you can subscribe to in a few seconds.
Let’s dive in;
1. Coinbase
This crypto exchange is deemed to be the safest, especially for beginners. Coinbase is simple to use and enhances the purchase of bitcoins for individuals of all caliber. Additionally, it serves millions of clients across the entire globe.
In the same vein, Coinbase provides a variety of digital assets ranging from Ethereum, Bitcoin, Polkadot, Dash, Litecoin, and more. Apart from the above mentioned, Coinbase allows other markets such as Dogecoin, Solana, Polygon, Dai, Yearn Finance, and Chainpay among others.
You need not worry when using this exchange. It provides additional security by providing whitelisting and 2-factor authentication.
2. eToro
What makes eToro one of the best cryptocurrency exchanges in Dubai is that it’s regulated and verified by top financial regulators including CySEC, ASIC, and FCA? So, those living in Dubai can consider this exchange platform secure and safe. You only need to invest twenty-five dollars and you’ll be allowed to gain profound access to the world of bitcoins or cryptocurrencies.
Similarly, your token can be purchased, sold, stored, and swapped on the platform for safety. In this platform, a variety of digital assets such as Litecoin, Bitcoin, Ethereum, Polkadot, and more are available. However, to enjoy all the eToro features, you need to finish the KYC process.
3. Binance
If you are looking to establish a diverse crypto portfolio, then this cryptocurrency exchange is the best for your need. Here, there is only 0.0001 BTC as the size of the minimum order. So, if you’re not bold enough to keep your funds or manage your security and storage, the Binance platform can do it for you.
Other types of cryptocurrencies available in this platform include Litecoin, Bitcoin, Ethereum Classic, Bitcoin Cash, and Dash among others. Additionally, you can also deem fit the IOTA, Decentraland, Polymath, Clover Finance, and Algorand among others. Binance complies with KYC requirements. So, you are supposed to send your documents for attestation before adding funds on this platform to your accounts.
4. CEX.io
This is one of the oldest cryptocurrency exchanges in Dubai that is still operating. Similarly, when using it, it charges a certain withdrawal fee of up to 3 percent depending on the currency payment method you’ll be using.
In addition, it is also the best company that offers flexibility and usability to both the novice and the expert’s Bitcoin miners. Apart from that, it saves your money and time by trading your coins directly into your wallet. Conversely, you can sell your Bitcoin for fiat money, which can be transferred into your debit card or bank account effortlessly.
5. BitOasis
This exchange is primarily based in UAE. BitOasis typically is the combination of the exchange website and BTC wallet. So, the website alleges that it has the best trading fee compared to other cryptocurrency exchanges. Moreover, it offers its users several tools for trading as a downloaded object or content for your personal computer.
On top of that, it has a multi-signature component which helps to increase the level of security imposed in the exchange, thus facilitating safer and secure transactions happening on the website. Similarly, the following tools accord robust security on BitOasis;
- Two-factor authentication
- A strong password
- Use of a recovery key
- Use of a trusted third party oracle offered by BitGo
6. Coinmama
Generally, Coinmama provides users with a straightforward and convenient strategy to purchase and fetch cryptocurrencies. Thus, it has been used by more than 2800,000 people in 190 nations since it was launched. Now, this crypto exchange is available to crypto users who want to venture into Bitcoin, Ethereum, Litecoin, and altcoins among others.
On top of that, Coinmama permits you to trade Bitcoin for different fiat currencies including British pounds, US dollars, and euros. Additionally, this cryptocurrency exchange permits different payments such as debit cards or credit purchases.
The above list contains the best cryptocurrency exchange in Dubai for your pick. From the review, you can opt to go by the one that suits your project at hand. Therefore, most of the cryptocurrency users in Dubai are passionate to know the following as far as cryptocurrency exchange is concerned.
7. Rain
Rain is one of the most honored crypto exchanges in the Middle East. As a reputable crypto exchange platform, it provides its users with the best services including 24/7 customer support. Meaning, you have high chances to interact and ask questions in this crypto exchange, unlike others. Additionally, it is licensed by a reputable institution as an assert brokerage.
Nonetheless, a few countries such as Kuwait, UAE, and Oman are permitted to use this crypto exchange.
The above list contains the best cryptocurrency exchange in Dubai for your pick. From the review, you can opt to go by the one that suits your project at hand. Therefore, most of the cryptocurrency users in Dubai are passionate to know the following as far as cryptocurrency exchange is concerned.
Let’s find out:
How to trade Cryptocurrency in Dubai?
Trading cryptocurrency in Dubai might be a bit daunting, especially if you don’t know the proper procedures to take. However, it is a no-brainer once you’re equipped with the tenets on how to trade crypto in Dubai.
So, to buy and sell crypto in Dubai, you’ll be forced to follow the following procedures;
- Open an account with one of the reputable Broker or cryptocurrencies in Dubai
- Upload your documents required such as ID among others
- Deposit funds to your crypto wallet
- Time to purchase Bitcoin
- Finally, store Bitcoin in your e-wallet
Is Cryptocurrency allowed in Dubai?
Yes, the UAE government permits the trading of cryptocurrency. Under article D.7.3, which is imposed in the regulatory framework for Electronic Payment System and Stored Values prohibits cryptocurrency transactions. This was put forward by the Central Bank of the United Arab Emirates in 2017 January.
In addition, the crypto transaction is also prohibited in the US, UK, and other developed countries.
Final Thoughts
Familiarizing yourself with the best cryptocurrency exchange in Dubai helps you to make an informed decision on which exchange company to go with. So, if you’re looking forward to having the best crypto exchange for your cryptocurrency investment, look for no other but Coinmama, BitOasis, Coinbase among others as documented in the article.
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Helpful Resources
Is Cryptocurrency Mining Legal in Dubai?–Cryptocurrency is not accepted in all countries. If you want to invest in Cryptocurrency mining in Dubai, you MUST check out this helpful article to be on the safer side if you want to venture into Cryptocurrency mining.
How Does Cryptocurrency or Bitcoin Mining Work: Definitive Guide (2022?)–We also have a helpful resource expounding on how Bitcoin mining work. Don’t miss out on this useful definitive guide.
