Exchanges to Buy Bitcoin in Kuwait – The Best Crypto Brokers Kuwait for 2022

Due to the mass adoption of cryptocurrencies over the years, many exchanges have come out to help investors acquire various digital assets. In Kuwait, crypto exchanges facilitate trading accounts to help investors trade in the Kuwaiti financial market. However, these brokers and traders must follow specific guidelines to enjoy a smooth trading experience in Kuwait.

Experts also advise investors to trade with trustworthy crypto exchanges to avoid losing their money. However, it can be overwhelming to sift through all the information regarding crypto exchanges, especially if you are in Kuwait and new to the cryptocurrency space. This is because there are hundreds of brokers out there, and not all of them are legit: some are looking to hack your account and steal your virtual currencies. Additionally, crypto brokers are emerging at a high rate due to immense growth in the cryptocurrency industry.

For that reason, we have done all the work for you and come up with a list of reliable platforms in Kuwait to ensure you legally and conveniently buy your preferred virtual currency. Here are the best crypto brokers Kuwait has to offer in 2022:

IC Markets – The Best Platform to Buy Bitcoin in Kuwait 

IC Markets came into the limelight in 2007 and is among the best exchanges to buy Bitcoin today. It is headquartered in Sydney, Australia, and is one of the safest crypto brokers in Kuwait. The platform is regulated by the Australian Securities and Investments Commission ( ASIC), Cyprus Securities and Exchange Commission (CySEC), and the Seychelles Financial Supervisory Authority (FSA). 

The best part is that it has a native app where you can do your market analysis while enjoying other benefits such as low fees and different trading options. Some of the cryptocurrencies accepted on this platform include Bitcoin, Bitcoin Cash, Ethereum, Dash, and Litecoin. More importantly, no commissions are required when traders are speculating on the prices of different cryptocurrencies. 

Binance – The Largest Exchange Globally in Terms of Trading Volume

Binance was launched in 2017 and is the largest crypto exchange globally in terms of the trading volume. Experts attribute this success to Binance’s friendly and professional attitude, lower trading fees, several cryptocurrencies, and its transparent CEO. Binance is usually ideal for experienced cryptocurrency traders because it comes with many features which can be overwhelming to new investors.  

More impressively, Binance offers more than 500 cryptocurrencies and competitive prices to match its reputation. It is secured with a Two-factor Authentication verification procedure and is regulated by Federal Deposit Insurance Corporation (FDIC) to guarantee your online safety. Transactions supported on this platform include limit order, peer-to-peer trading, post-only order, margin trading, and trailing stop order. The best part is that Binance offers traders a relatively secure cryptocurrency wallet to store their assets. 

eToro – Among the Few Brokers with a VIP Program in Kuwait 

eToro is an Israeli social trading and crypto exchange platform founded in 2007. Some of the cryptocurrencies supported on the broker include Bitcoin, Zcash, Litecoin, Ethereum, and more. eToro is headquartered in Central Israel and has offices in the United States, Cyprus, the United Kingdom, and Australia. 

More importantly, the platform accepts deposits via Neteller, SEPA, PayPal, bank transfers, and others. Even better, eToro allows you to enjoy copy trading, where you can earn passive income, and mirror select traders. This crypto exchange only requires a minimum deposit of $10 for you to start trading your preferred cryptocurrencies. Additionally, you can enjoy the following VIP benefits once you open a trading account with eToro:

1. Silver members: 5% discount 
2. Gold members: 10% discount 
3. Platinum members: 15% discount 
4. Platinum+ members: 20% discount 
5. Diamond members: 25% discount 

Pepperstone – One of the Most Popular Brokers in 2022 

Pepperstone opened its services in 2010 and is among the most popular brokers in the world. It is regulated by the Financial Conduct Authority as well as the Australian Securities and Investment Commission to guarantee the safety of its clients. 

Note that the minimum deposit on this platform is $200, and traders can only use CFDs (Contracts for Difference) to trade cryptocurrencies. CFDs are complex instruments and pose a high risk of losing money because of leverage. CFDs refer to contracts between traders and brokers in which case investors don’t trade using the underlying assets. 

Instead, investors choose a specific instrument to buy or sell a number of its units over a very short time. CFDs are ideal for experienced traders since they understand the risk of losing money when using these financial instruments. Therefore, it is advisable to understand how these financial instruments work and whether you intend to predict bullish or bearish prices. 

More importantly, Pepperstone has a downloadable app compatible with iOS and Android smartphones. It also allows you to open a demo account where you can gauge your trading skills. 

AvaTrade – An Experienced Exchange with Excellent Research Tools 

AvaTrade has been offering brokerage services since 2006. It is a regulated broker for cryptocurrency, forex, commodities, and stocks. Currently, investors can only trade crypto CFDs such as Bitcoin CFDs, Litecoin CFDs, and Ethereum CFDs on this platform. 

The best part is that AvaTrade allows its clients to enjoy lower fees than the rest once they become professional traders on this platform. The platform ensures you achieve this by providing an educational division known as SharpTrader. Note that you have to make a minimum deposit of $100 to trade online using AvaTrade. 

Rain – The Best Sharia-Compliant Online Broker in the Middle East 

Rain is an approved cryptocurrency brokerage platform with a license from the Central Bank of Bahrain (CBB). It allows you to trade major digital currencies such as Bitcoin, Ripple, Ethereum, and others. Rain is available in many countries in the Middle East and complies with Sharia laws. Its customer support works round the clock and you can reach them via live chat for a quicker response. In addition, Rain allows you to use multiple deposit methods, including wire transfers, credit cards, and debit cards. 

BitOasis – The Most Liquid Crypto Exchange in the Middle East 

BitOasis launched in 2015 and functions as an exchange and broker for cryptocurrency traders. BitOasis accepts many cryptocurrencies, including Bitcoin, Ripple, Litecoin, Ethereum, Bitcoin Cash, and Stellar Lumens. Some of the banking methods you can use to purchase bitcoin from this crypto exchange include credit cards or a direct bank transfer. 

Besides, BitOasis boasts a user-friendly interface compatible with Android and iOS devices. They feature a two-factor authentication process for both fiat and cryptocurrency users to confirm their identities. In addition, this crypto exchange has a minimum deposit requirement of 300 AED for credit card users and supports more than 40 cryptocurrencies. 

Although BitOasis is yet to be regulated, it has been given a Financial Services Permission by the Financial Services Regulatory Authority (FSRA) in Abu Dhabi. The exchange accepts clients from the Middle East and North Africa (MENA). Traders from these regions can access up to 15 digital assets where they can trade against UAE Dirham (AED). 

Coinmama- Among the Most Widespread Crypto Exchanges in the World 

Established in 2013, Coinmama has become one of the most legitimate brokers in Kuwait. The crypto exchange is registered in Slovakia and is available in 190 countries. It is among the first exchanges to allow the purchase of Bitcoin using debit and credit cards. Over the years, Coinmama has served more than 2.3 million customers and has been adding more cryptos to its portfolio. 

More importantly, you can buy crypto using your preferred payment options on this platform, including Apple Pay, SEPA, Faster Payments, SoftPay, Fedwire, and SWIFT. Some of the cryptocurrencies supported by this exchange include Bitcoin, Cardano, Bitcoin Cash, Ethereum, Litecoin, Ethereum Classic, Tezos, and Qtum. 

Crypto.com- One of the Few Reliable Exchanges with a Massive Coin Portfolio 

Crypto.com launched its services in 2016 in Hong Kong. It boasts over 10 million users globally and offers more than 250 digital currencies. Currently, Crypto.com is available in 90 countries and is suitable for traders looking to do more than just buying and holding their digital assets. Besides, the exchange allows you to use your preferred wallet to store your funds. 

However, it can be overwhelming to beginners since it comes with many features. Some of the popular cryptocurrencies to expect here include Bitcoin, Polkadot, Ethereum, and Dogecoin. 

Paybis – An Exchange to Buy Bitcoin in Kuwait with High Limits 

Innokenty Isers and Konstantin Wasilenko founded Paybis in 2014 to create a safe environment for traders to buy and sell top crypto assets. Currently, Paybis is available in over 180 countries with an annual trading volume of more than $250,000,000. It is also available in 48 US states, where it guarantees faster payouts, a fast verification process, and high limits. More importantly, Paybis is regulated by the Financial Conduct Authority (FCA). 

The cryptocurrencies to expect on this crypto exchange include BTC, ETH, TRX, XRP, NEO, LTC, BNB, XLM, and BCH. You can acquire these digital assets using payment methods like Skrill, Neteller, wire transfer, credit/debit card, Payeer, and SEPA. 

What Is a Crypto Broker?  

Crypto brokers are online firms that facilitate buying and selling of cryptocurrencies by acting as intermediaries. They achieve this by offering liquidity where users can freely buy and sell their crypto assets. Usually, people get confused when they hear brokers being referred to as cryptocurrency exchanges. Usually, some brokers act as exchange platforms by allowing you to trade Bitcoin with other cryptocurrencies. Therefore, it is advisable to choose reputable online brokers since they offer many features. The best crypto brokers in Kuwait will offer extra benefits such as low fees, excellent customer service, fiat currencies, peer-to-peer trading, many payment options, stock exchanges, and other investment opportunities where you can earn interest. 

Crypto Exchanges in Kuwait: How We Rank 

Choosing the wrong crypto exchange in Kuwait can see you lose money when trading online. For that reason, our experts review specific factors that ensure a crypto exchange is legitimate. They include but are not limited to: 

1. License

Online investments usually involve money or virtual assets, which is why choosing a legitimate service provider is crucial. For that reason, crypto brokers are required by the Central Bank of Kuwait (CBK) to follow strict laws to ensure clients trade in a safe and secure environment. We usually ensure an online broker is regulated by a reputable financial regulatory body during the initial stages of our research. We also check whether the exchange has a license and if that license is valid. Although you can trade with an unlicensed crypto exchange, it’s essential to ensure they are legitimate or they are at least permitted to operate in your country.

2. Reputation

Besides the license, we check the company’s reputation by reviewing its customers’ sentiments online. Usually, we don’t go for any online reviews because bad reviews could come from competitors. We typically read reviews from trusted sites like Reddit and TrustPilot, where real users write their sentiments. Besides, we keep up with daily news and updates to record significant happenings that could negatively affect traders. This is why we are able to regularly inform customers about reliable platforms they can trade with every now and then. 

3. Trading Commissions and Payment Fees

Low or average trading commissions and payment fees attract new traders to a crypto exchange platform. However, not all exchanges with appealing trading fees are legitimate. Some use this feature to lure unsuspecting customers and then freeze their accounts. For that reason, we sign up to the platform to calculate their trading fees while checking whether they are legitimate or not. 

In most cases, the best cryptocurrency exchange in Kuwait will offer you lower trading fees than the rest.

4. Limitations on Deposits & Withdrawals

Limitations on deposits and withdrawals determine the type of traders an exchange attracts. Some traders, especially experienced ones, can afford to take the risk and invest more than 200 USD, while new traders prefer trading with as low as 10 USD. In that case, we review exchanges where both groups feel appreciated. Some of the brokers reviewed above will require a minimum deposit of up to $200, while others require a minimum deposit of $10. 

To consider whether you understand trading and whether you can afford to lose money online, it is advisable to open a demo account. You can even register demo accounts on more than one broker to familiarize yourself with different exchange platforms. 

5. Payment Methods 

The best cryptocurrency exchange in Kuwait will offer multiple payment methods to its clients. This way, customers can deposit and withdraw their funds in their most preferred payment option for a smooth trading experience. Some of the payment methods we look for when reviewing crypto exchanges in Kuwait include credit and debit cards, e-wallets, bank transfers, and cryptocurrencies. 

6. Customer Support

Another important feature we pay attention to when looking for reliable online brokers is customer support. The best crypto exchange will allow you to contact their customer support whenever you get stuck while trading online. To ensure a broker has an excellent customer support team, we directly contact them and wait for a response. Some of the channels offered by these platforms include live chat, phone numbers, and email addresses. 

7. Leverage

In cryptocurrency, leverage means that you are trading with borrowed money. In doing so, you are able to boost your buying and selling power to trade with more capital than what is in your wallet. 

Some crypto exchanges will allow you to borrow up to 100 times your current amount. For that reason, we check how much leverage a broker is offering as well as rollover requirements to ensure you enjoy a smooth trading experience.

Cryptocurrencies’ Advantages and Disadvantages 

There are specific pros and cons of investing in cryptocurrency. Let’s start with some of the most notable advantages: 

Advantages of Trading in Cryptocurrencies 

Disadvantages of Using Cryptocurrencies 

Fees Charged by Bitcoin Exchanges when Buying Bitcoin in Kuwait 

Crypto fees in Kuwait vary from one crypto broker to the other. These fees play a vital role when it comes to choosing the best crypto trading platform in Kuwait. With that in mind, here are the fees to expect when trading in Kuwait: 

Are Crypto Brokers Legal in Kuwait?

First things first, is cryptocurrency legal in Kuwait? The answer to this question may vary due to different reasons. For instance, Bitcoin is not a legal tender in Kuwait because the Kuwaiti government banned banking institutions from trading cryptocurrency in 2017 citing high volatility. 

However, the Kuwait cryptocurrency regulation allows citizens to buy and sell cryptocurrency in the country provided they do so on permitted brokers. The Government of Kuwait requires brokers to be regulated to lower the risks of losing money. Usually, the Central Bank of Kuwait requires these platforms to separate their working capital account from clients’ accounts to ensure they don’t defraud the customers. 

Mobile Trading Platforms for iOS and Android 

Mobile trading apps for cryptocurrencies present many benefits, including automated services and the latest information on what’s happening in the crypto space. Here are the best trading apps for iOS and Android in Kuwait: 

Crypto Brokers in Other Countries

• Crypto Brokers USA
• Crypto Brokers Nigeria
• Crypto Brokers Australia
• Crypto Brokers Singapore
• Crypto Brokers UAE

Bitcoin Brokers and Exchanges in Kuwait – FAQ 

🤑❓🇰🇼 Is it legal and safe to trade Bitcoin in Kuwait? 

Although Bitcoin is not a legal tender in Kuwait, citizens can still trade digital currency on various exchanges. According to the Central Bank of Kuwait, these trading platforms must be regulated by reputable financial institutions to ensure they protect their clients’ funds. 

🤑❓🇰🇼 How can I buy Bitcoin or another crypto in Kuwait?

There are many banking methods through which you can acquire Bitcoin in Kuwait. But first, it is essential you visit our list above to select a reliable trading platform in Kuwait. 

Connect the cryptocurrency exchange to your preferred payment method to start the buying process. Depending on the broker and country, you may be required to provide details like the picture of your driver’s license, your source of funds, and your social security card. You can buy Bitcoin using e-wallets, credit cards, or direct bank transfers. After placing your order and acquiring the funds, it is advisable to withdraw them and securely store the assets in your preferred wallet. In most cases, investors choose between hot or cold wallets.  

🤑❓🇰🇼 Can Kuwait traders access Coinbase to trade? 

Yes. You can access Coinbase in Kuwait. To use the platform, fill in the required information and start trading. Note that the platform might require you to verify your identity electronically before opening a trading account and when withdrawing your funds.

🤑❓🇰🇼 Which Bitcoin wallet works in Kuwait? 

Once you purchase cryptocurrency from an exchange platform, it is advisable to withdraw the assets and store them in your preferred wallet for security purposes, as stated above. It also ensures you stay anonymous and have full control of your digital assets. Some of the best crypto wallets in Kuwait include:

• Electrum: Electrum is compatible with desktop devices such as Mac, Linux, and Windows. This wallet does not store your information which means you cannot lose your funds if your account gets hacked. The best part is that Electrum uses a seed phrase to help you retrieve your data if you lose your private key. 
• Ledger Nano S: Ledger Nano S is a hardware wallet that requires you to connect it to your computer using USB whenever you want to access your funds.