The leading exchanges for buying Bitcoin in Saudi Arabia are Bitcoin Era, Rain, BitOasis, Binance, and Paybis. Bitcoin Era is the best Bitcoin exchange in Saudi Arabia. Rain is a top Bitcoin exchange for beginner investors. BitOasis has a competitive fee structure for Saudi Arabian traders.
Each Bitcoin exchange has advantages and disadvantages. This article discusses the best exchanges to buy Bitcoin in Saudi Arabia.
Best Cryptocurrency Exchanges In Saudi Arabia:
- eToro: Best Overall Exchange
- Rain: Best Exchange For Beginner Traders
- BitOasis: Best Exchange For Low Fees
- Binance: Best Exchange For Asset Diversity
- PayBis: Best Exchange For Small Investments
|RANK||BROKER||GENERAL||PLATFORM SCORE||BEST FOR||WEBSITE|
|#1||eToro||Its online security system is one of the best||5 / 5||Best Overall Exchange||Official website|
|#2||Rain||Excellent crypto services, and it has top-tier licenses||3.4 / 5||Best Exchange For Beginners||Official website|
|#3||BitOasis||20+ digital assets and a competitive fee structure||3.4 / 5||Best Exchange For Low Fees||Official website|
|#4||Binance||For traders who want to invest in less popular altcoins.||4.3 / 5||Best Exchange For Asset Diversity||Official website|
|#5||PayBis||Fast registration process & 14 different payment options||4.5 / 5||Best For Small Investments||Official website|
Top 5 Crypto Exchanges of Saudi Arabia – Overview
01. Bitcoin Era: Best Overall Exchange In Saudi Arabia
Bitcoin Era offers safe and secure platforms with an easy-to-use interface. It uses a reliable AI algorithm for all trades. Bitcoin Era provides a demo account for beginners to practice on.
This exchange offers 24/7 customer support, a simple KYC process, and user-friendly platforms. It is a top choice for traders at all levels. Bitcoin Era has a high minimum deposit of $250/937 SAR.
02. Rain: Best Bitcoin Exchange For Beginner Traders
Rain is the leading Middle Eastern cryptocurrency exchange for new traders. It offers excellent crypto services, and it has top-tier licenses. Rain has premium security features for Saudi Arabian residents. It stores up to 98% of its cryptocurrency in cold storage.
This exchange has reliable customer service available 24/7. Rain provides a competitive fee structure in the Middle East. If you buy cryptocurrency with bank transfers, the standard fee is 1.5%.
03. BitOasis: Best Exchange With Low Fees
BitOasis offers 20+ digital assets and a competitive fee structure. It is a low-cost Bitcoin exchange in Saudi Arabia. BitOasis is the most secure digital exchange in the Middle East.
It is a low-cost exchange with low BTC taker and maker fees. BitOasis allows Saudi Arabian traders to deposit funds to the local bank. There are no fees for bank transfers.
04. Binance: Best Exchange For Asset Diversity In 2021
Binance is a well-established crypto exchange on the globe. It offers many digital coins, besides the most popular crypto coins. It has 50+ cryptocurrencies, including Bitcoin and Ethereum.
Binance is a top choice for Saudi Arabian traders who want to invest in less popular altcoins. It offers 100 different trading pairs, including fiat-crypto pairs.
05. PayBis: Best Bitcoin Exchange For Small Investments
PayBis is a Bitcoin exchange with a simple-to-use interface. It lets traders start trading with a low minimum deposit. PayBis has a fast registration process that takes around 10 minutes.
This crypto exchange has 14 different payment options. It offers fast transaction time and a low minimum deposit of $50-$60. PayBis is a top choice for traders at all levels, as it provides reliable educational resources.
How Did We Select The Best Crypto Exchange In Saudi Arabia?
At Business24, we aim to help Saudi Arabian traders make the best choices with their money. We know that the word “Best” is subjective. So, we explain both strengths and weaknesses of each crypto exchange. We use 105 factors to test exchanges and digital coins. We review exchanges with real accounts and money. The main criteria we focus on include safety, assets, and ease of use.
Costs: An excellent trading experience starts with a transparent fee policy. Most crypto exchanges offer access to a straightforward fee structure. Read our in-depth reviews to discover more about crypto exchanges and fees.
Account: Each crypto exchange offers distinct account tiers. Some request a minimum deposit fee. Others don’t charge for creating new accounts in Saudi Arabia. Check our in-depth reviews to learn more about account tiers available with Saudi Arabian exchanges.
Withdrawal and deposit: Withdrawing and depositing funds must be a simple process. Some crypto exchanges have longer processing times than others. Read about cryptocurrency exchanges in our reviews.
Market and products: Cryptocurrency exchanges have specific asset coverage. Read about markets and digital coins available in Saudi Arabia before investing.
Trading platforms: A user-friendly platform is vital for a good trading experience. Select an exchange with a simple interface. The exchanges in our review offer secure platforms with access to many features. Read our in-depth reviews to discover which platforms suit your needs.
Customer support: Customer support is essential for your cryptocurrency success. The best exchanges offer live chat, email, and phone support.
Related: best UAE crypto exchange
How To Buy Cryptocurrency In Saudi Arabia
Buying Bitcoin in Saudi Arabia is a straightforward process. Here is a step-by-step guide on how to buy Bitcoin in Saudi Arabia.
Step 1: Open an Account With a Crypto Exchange
The first step is to open an account with a cryptocurrency exchange. You’ll have to submit your contact details before you’re allowed to choose a username and password.
Step 2: Verify Your Trading Account
The second step is the verification process. Most Saudi Arabian exchanges have a fast way to confirm your identity. You’ll have to offer a copy of your ID, passport, or driver’s license. Some exchanges request proof of address.
Step 3: Deposit Funds
Saudi Arabian traders have access to many funding options depending on the exchange they choose. Choose the funding solution that meets your needs. After you fund your account, the next step is to buy Bitcoin.
Step 4: Buy Cryptocurrency
Use the funds in your trading account to buy Cryptocurrency. Bitcoin is available under the ticker symbol BTC. Select it and set up your trade. Choose the amount of BTC you’d like to purchase and click “Submit.” Your transaction will finish in a couple of minutes.
How To Sell Cryptocurrency?
Selling cryptocurrencies is a simple process. Use your crypto wallet to choose the amount you want to sell. Keep in mind that crypto profits are taxable capital gains. It is best to discuss with a tax professional before you sell a significant amount of digital assets.
Should I Buy Cryptocurrencies?
Cryptocurrencies are easy to trade and a great option for beginners to start out. The market is volatile and this is why we recommend beginners to start investing small amounts in bigger and stable coins like Bitcoin, Ethereum and Ripple.
Our guide on how to buy bitcoin in UAE
Bitcoin Era, Rain, BitOasis, Binance, and Paybis are the best cryptocurrency exchanges in Saudi Arabia. Bitcoin Era is our top choice as it offers the best platforms and tools for Saudi Arabian traders. Rain is the best Bitcoin exchange for beginner traders. We recommend BitOasis for traders looking forward to low Bitcoin trading fees.
We test the best Saudi Arabian cryptocurrency exchanges with 105 criteria. We use real accounts and money for accurate results. Read about our system in our Methodology section.
Which Is The Best Crypto Exchange In Saudi Arabia?
The best crypto exchange in Saudi Arabia is Bitcoin Era. It has premium services and trading tools. Bitcoin Era has beginner-friendly services for Saudi Arabian traders.
What Is The Minimum Crypto Investment With Bitcoin Era?
Bitcoin Era has a minimum deposit of $250 or around 940 SAR. After your initial transaction, the Bitcoin buying fee is $25.
How Much Bitcoin Should I Buy With My First Transaction?
It depends on your Bitcoin trading experience. It is best to follow the minimum deposit requirements and test the platform. After you learn more about cryptocurrency markets, you will be able to increase your investment.
What Is A Centralized Cryptocurrency Exchange?
A centralized exchange is a private provider that provides a platform for investing in digital currencies. These exchanges require registration, known as the “Know Your Client” rule. Read our in-depth reviews to learn about the best exchanges in Saudi Arabia.
What Is A Decentralized Cryptocurrency Exchange?
A decentralized exchange isn’t obligated to follow any rules of any regulatory body. It functions as a single service or website, but the “servers” across thousands of computers worldwide. If you opt for a decentralized exchange, you should learn about the risks associated with it.
Are Bitcoin Exchanges Safe In Saudi Arabia?
You should invest in Bitcoin with trustworthy and secure crypto exchanges. We recommend you use platforms like Bitcoin Era. It is one of the safest exchanges to invest from in Saudi Arabia.
Business24-7 aims to help those interested in cryptocurrency make safe and informed investing decisions. We are dedicated to offering our readers unbiased reviews of leading cryptocurrency exchanges for traders at all levels.
Cryptocurrency exchanges are included in our reviews if they are safe, liquid, regulated by proper authority, or decentralized.