Crypto Exchange to Buy BTC in the UAE – The Best Crypto Brokers UAE 2022
After Dubai came up with new laws regarding virtual currencies, the number of people interested in adopting cryptocurrencies has grown exponentially. Currently, there are hundreds of top crypto exchanges and brokers offering platforms where crypto investors in the UAE can buy and sell Bitcoin and other virtual assets.
Cryptocurrency trading happens online, and there are high chances of losing money through fraud, hacking, and theft. Therefore, traders should research a trading platform they intend to trade with. This includes checking safety factors, minimum deposits, trading fees, number of supported tokens, wallet security, etc. However, this can be hard, considering there are hundreds of best cryptocurrency exchanges in the industry today, and not all of them are legitimate.
Besides, crypto exchanges are still emerging as the crypto industry grows. We have reviewed the most reliable crypto exchanges in the UAE to help you trade digital currencies in a safe environment with a good crypto trading platform UAE.
eToro – Overall Best Crypto Exchange in the United Arab Emirates
eToro is a social and crypto trading platform founded in 2017 in Israel. This exchange understands the importance of protecting its clients’ crypto assets from theft, making it one of the most popular Bitcoin exchanges in the UAE today. It is regulated by the Financial Conduct Authority (FCA), Australian Securities & Investments Commission (ASIC), and Cypress Security and Exchange Commission.
Currently, eToro lists several cryptocurrencies for UAE traders, including Bitcoin, Litecoin, Aave, Ethereum, Algorand, Ripple, Polkadot, Shiba Inu, and others. The best part is that you can mirror trade and copy trade on this platform.
Besides, eToro crypto exchange UAE allows you to create a demo trading account where you can trade without real money to understand how the platform works. Some of the payment methods to expect here include PayPal, SEPA, NETELLER, and Bank Transfer.
To start trading with real money on eToro, you need a minimum deposit of $10. You also get a chance to join their VIP program, where you will earn discounts depending on tier level. Note that you must complete the KYC process to verify your identity when joining eToro and withdrawals.
🟢 Excellent Mobile App
🟢 VIP Program
🔴 Relatively High Fees When Trading CFDs
Coinmama – Allow Exchange of Fiat Currency with Cryptocurrency
Coinmama was founded in 2013 and is among the most convenient crypto trading platforms today. It allows you to buy bitcoin using credit cards, debit cards, Apple Pay, SEPA, Faster Payments, Soft, Fedwire, and SWIFT.
Currently, this top crypto exchange is available in up to 190 countries contributing to 2800,000 individuals since the founding of Coinmama. The best part is that Coinmama allows you to trade Bitcoin for your preferred fiat currency, including Euros, the US dollar, and British pounds.
🟢 Simple-To-Use Interface and Design
🟢 Many Payment Options
🟢 Fast Transactions
🟢 Fiat to Crypto Transactions
🔴 Lack of Crypto to Crypto Transactions
🔴 3.90% Commission
Paybis – Best UAE Crypto Exchange in Terms of Customer Support
Paybis was created in 2014 by two innovators, Innokenty Isers and Konstantin Wasilenko, to offer investors a secure crypto trading platform where they can trade cryptocurrencies. It has a strict KYC policy making it one of the safest crypto exchange platforms in the UAE. Paybis is regulated by the FCA (the Financial Conduct Authority) to comply with online safety regulations.
Currently, traders from over 180 countries can enjoy its benefits, including fast payments, higher limits, and a straightforward verification process. More importantly, you can trade in the following cryptos; LTC, BTC, TRX, ETH, XRT, BNB, and XLM. Some of the payment options available on the trading platform include Payeer, NETELLER, Skrill, SEPA, credit/debit cards, and direct wire transfer.
🟢 Many Payment Methods
🟢 Fast Transactions
🟢 Excellent Customer Support
🟢 Higher Limits
🔴 Relatively Higher Trading Fees
🔴 No Traditional Order Book for Seasoned Traders
Alvexo – Cryptocurrency Exchange with Advanced Trading Tools
Alvexo is an established brand formed in 2014. It is run by VPR Safe Financial Group Limited and boasts over 650,000 clients globally. Besides offering cryptocurrency trading and crypto exchange services, Alvexo allows you to trade Stocks, Bonds, CFDs, and Indices. The trading platform is flexible and features a user-friendly interface with several advanced trading tools.
The customer support of the cryptocurrency exchange is excellent and offers its clients webinars, seminars, economic news, daily market signals, and a trading academy. The payment options to expect here include credit cards, debit cards, wire transfers, and QIWI Wallet.
🟢 Negative Balance Protection
🟢 Trading Academy
🟢 Separate Customer Funds
🟢 Many Sophisticated Trading Tools
🔴 No Live Chat
🔴 $500 Minimum Deposit
🔴 No Fixed Spreads
ThinkMarkets – One of the Highly Regulated Brokers for UAE Residents
ThinkMarkets launched in 2010 and has offices across the World. Besides crypto trading services, ThinkMarkets offers other markets, including CFDs, indices, and commodities. It is one of the most legitimate brokers in the UAE since it is regulated by ASIC, Cysec, FSA, FCA, and JFSA. Besides, ThinkMarkets is Sharia-compliant and offers an Islamic account.
They separate the client’s money from their operating funds. More importantly, ThinkMarkets has a downloadable mobile app compatible with iOS, Mac, Android, and Windows devices. It offers crypto trading options using Ethereum, Bitcoin, Litecoin, and other virtual currencies. Some of the deposit methods on this trading platform include credit/debit cards, Skrill, bank transfer, and OZOW.
🟢 Highly Regulated
🟢 No Minimum Deposit
🟢 Tight Spreads
🟢 Islamic Account
🔴 Commission Charges on the ThinkZero Account
Binance – A Bitcoin Trading Platform Ideal for Advanced Traders
Binance is a leading crypto trading platform with more than 100 million users globally. It offers more than 500 cryptocurrencies to trade with, making it among the most popular exchanges in the UAE. The best part is that they provide a native wallet where traders can store their crypto assets. Some of the most popular cryptocurrencies on this platform include Binance Coin, Bitcoin, Cardano, Litecoin, and Ethereum.
Besides, Binance offers you a section where you can accurately evaluate crypto quotations in local currency, including AED. As a result, you don’t have to use special calculators or convert your money to monitor your profits and losses. You can also view your portfolio’s performance on this platform.
Binance is KYC-compliant and requires you to provide your details before funding your account to verify your identity. Besides, Federal Deposit Insurance Corporation (FDIC regulates Binance to ensure they stay compliant with online safety regulations. Finally, you can choose your preferred trading method, including peer-to-peer trading, margin trading, post-only order, and trailing stop order.
🟢 Massive Coin Portfolio
🟢 Many Trading Options
🟢 Native wallet
🔴 Interface Might Overwhelm New Traders
Coinbase – Among the Best Cryptocurrency Exchanges For New Traders
A former Airbnb engineer named Brian Armstrong founded Coinbase in 2013. Since then, the trading platform has been offering secure storage, buying, and selling of cryptocurrencies, making it among the best crypto exchanges in the UAE. It has an easy-to-use interface, the reason we recommend it to novice traders.
Currently, Coinbase has an asset investment of 2.00 units in AED. Some of the crypto assets to expect from Coinbase include Dash, Ethereum, Bitcoin, Polkadot, Polygon, Dogecoin, and others.
Although it charges a commission rate of 0.99 to 2.99% depending on the amount, you can enjoy lower commissions on Coinbase Pro. They include 0.04% to 0.50% taker fee and 0% to 0.50% maker fee. Coinbase safeguards your digital assets by storing 98% of your funds in cold storage. Some of the payment options offered on Coinbase include wire transfer, debit/credit cards, ACH Transfer, and USD Wallet.
🟢 Lower Pricing with Coinbase Pro
🟢 Many Cryptocurrencies
🟢 Easy to Use Interface and Design
🟢 Fast Transactions
🔴 Higher Fees on Standard Coinbase
Rain – A Sharia-Compliant Crypto Asset Brokerage Platform
If you are looking for a highly-regulated crypto exchange in the UAE, Rain is the ideal platform. The service provider was founded in 2017 and is licensed by the Central Bank of Bahrain (CBB). It is also Sharia-compliant making it suitable for UAE traders to use Islamic accounts when trading online. It meets all CCSS requirements and is subject to Banking compliance standards and cybersecurity standards.
Some of the common digital assets to expect on this crypto exchange include Bitcoin, Ethereum, and Ripple. More importantly, Rain offers 24/7 customer support via live chat, email, and a phone number. Some of the payment methods to expect from Rain include wire transfer, Visa, and MasterCard.
🟢 Easy to Use
🟢 Reliable Customer Support
🔴 Available in a Few Countries
Bitpanda – One of the Most Reliable Bitcoin Exchanges in the UAE
Bitpanda is among the leading crypto brokers in the UAE. You can safely buy and sell cryptocurrencies anytime on this platform, making it one of the most reliable exchanges in 2022. Its services are automated to guarantee fast transactions. Besides a trading platform, Bitpanda provides a native wallet to its clients.
Bitpanda is easy to use and offers many payment methods, including bank transfers, credit/debit cards, SOFORT, and NETELLER. It also features fiat currencies such as EUR, USD, CHF, and GBP.
Bitpanda uses the latest SSL encryption and stores your funds in offline Bitcoin wallets for safety reasons. Besides, the trading platform requires email confirmations when performing critical actions such as depositing money to other wallets.
🟢 Easy to use
🟢 Wide Range of Services
🟢 Variety of Payment Methods
🔴 Not Regulated
BitOasis – Top Crypto Trading Platform UAE Accepting AED Transactions
According to our BitOasis review, this platform is one of the most liquid exchanges in the UAE. BitOasis is a crypto exchange and broker formed in 2015 and operates mainly in the Middle East and North African countries, otherwise referred to as MENA. The trading platform offers more than 40 cryptocurrencies, including Ethereum, Bitcoin Cash, Ripple, Stuart, and Litecoin. You can buy these cryptocurrencies using various banking methods such as wire transfers, credit cards, and debit cards.
The best part is that they provide you with a multi-signature wallet where you can safely store your digital assets. It also features a user-friendly interface suitable for Android and iOS smartphones. More importantly, BitOasis has provisional approval from Dubai’s Virtual Assets and Regulatory Authority and comes with a Two-Factor authentication process when identifying your identity.
🟢 Accepts AED transactions
🟢 Easy to Use
🟢 Among the Most Liquid Exchanges in the UAE
🟢 Multi-Signature Mobile Wallet
🔴 Not Transparent on Transaction and Conversion Fees
🔴 Only Available to MENA Clients
What is a Crypto Broker?
There is usually confusion between crypto brokers and crypto exchanges. A crypto broker is an online firm that allows investors to own the cryptocurrencies they want, while a crypto broker refers to an online mediator that enables traders to speculate on cryptocurrency price movements.
In most cases, brokers set their preferred prices while exchanges offer traders the current prices in the market. However, some platforms act as both brokers and crypto exchange platforms, allowing you to enjoy benefits from both worlds.
How We Rank Crypto Trading Exchanges in the United Arab Emirates
Looking for a reliable crypto broker trade can be challenging for new and seasoned investors. We use more than five factors to evaluate trading platforms and ensure you are trading in a safe environment. You can also use our tips instead of choosing brokers blindly to ensure you are safe when trading online.
Unless otherwise stated, every crypto trading platform operating in the UAE must be regulated by recognized institutions. For that reason, we ensure a crypto exchange is licensed before recommending it to traders. Here are some of the regulators we look for in crypto exchanges operating in the UAE:
- The Securities Commission Authority (SCA)
- Dubai Financial Services Authority (DFSA)
- Abu Dhabi Global Market (ADGM)
- Central Bank of the United Arab Emirates (CBUAE)
Sometimes a platform might hold a valid license from a reputable regulator but still offer poor services. As a result, we check a platform’s reputation before recommending it. We usually get this information from users’ reviews. However, there are concerns that these reviews might be from competitors in a bid to tarnish a particular platform’s name. For that reason, we derive our reviews from sites like Reddit and TrustPilot, where real users post their unbiased opinions.
- Trading Commissions and Payment Fees
In most cases, the best trading exchanges in the UAE offer low or average trading fees when depositing or withdrawing your funds. However, do not let this aspect blind you; some brokers will only provide you with mouth-watering charges, only to freeze your funded account. As a result, we sign up with a broker to ensure the above doesn’t happen to you. We also calculate their fees to ensure they are low or at least average.
- Limitations on Deposits & Withdrawals
A platform’s limitation on payments doesn’t necessarily dictate its legitimacy. They only indicate whether you can afford to sign up on the crypto exchange or not. Consequently, our reviews cater to everyone’s needs because we cover legit traders with high deposits and withdrawals.
- Payment Methods
Crypto brokers with many payment methods attract more customers than the rest. Investors trading on these platforms can deposit funds and withdraw funds in their preferred option for a seamless trading experience. Online payment systems, cryptocurrencies, credit/ debit cards, e-wallets, and direct bank transfers are some of the payment methods to expect when signing up with a broker operating in the UAE.
- Customer Support
A well-grounded crypto exchange operating online must have reliable customer support where clients can channel their queries. Even better, it enhances the user’s experience, positively impacting online traders. Some of the most commonly offered contacts by crypto platforms operating in the UAE include email addresses, live chats, and phone numbers.
Essentially, leverage in cryptocurrency allows you to trade in borrowed funds. It increases your trading power by boosting your existing funds. Since cryptocurrency leverage varies from one broker to another, we focus on how much they are offering as leverage and rollover requirements.
Cryptocurrencies – Advantages and Disadvantages
Most investments have their advantages and disadvantages, including cryptocurrencies. However, there are more benefits to investing in cryptocurrency than drawbacks. Here are the most significant ones.
Advantages of Cryptocurrencies
|Robust Security and Anonymity|
|Low Deposit and Withdrawal Fees||Unlike conventional payment methods, cryptocurrencies provide the lowest transaction fees. For instance, a direct wire transfer may cost between $25 to $30, while cryptocurrency payments range between 0% to 0.90% of your transaction amount.|
|You Can Earn Through Volatility||Cryptocurrency prices fluctuate since they are influenced by social media sentiments, supply-demand, government regulations, and more. This volatility can make you earn huge interest if your market predictions are correct.|
|Decentralization||Decentralization in crypto means that there is no central body regulating the system. This gives you the power to deposit and withdraw unlimited amounts, unlike centralized banking systems used in fiat currencies.|
|No Geo-Restrictions||As stated above, cryptocurrency runs on decentralized blockchain technology. As a result, investors can send and receive crypto payments from anywhere because they are not limited to geo-restrictions. The best part is that transactions are fast regardless of your location.|
Disadvantages of Using Cryptocurrencies
|Volatility Presents a Chance of Losing Loney||As stated above, you can earn huge profits due to market fluctuations. Similarly, you can lose your money due to market fluctuations. That means you must keenly study the markets to avoid incurring huge losses when trading online.|
|No Refund Policy||Once a crypto transaction is complete, it becomes irreversible since the blockchain records all transactions in an immutable public ledger. For that reason, most wallets do not have a refund policy even if you make a wrong transaction.|
Fees Charged By UAE Crypto Trading Platforms
Crypto brokers usually charge specific fees for their services. These charges vary from one platform to the other. Here are some of the costs to expect from crypto exchanges in the UAE.
|Trading Fees||Brokers usually charge traders commissions for their services. These charges vary depending on the crypto exchange and the type of trade. Sometimes the broker may charge you less fee when there is a large trading volume or when using its native coin.|
|Deposit Charges||Deposit charges vary from one broker to another. Usually, the best crypto brokers in UAE don’t charge you a dime when depositing your funds. Again, this depends on the broker and the payment method being used. For instance, a broker may charge you 1.5% when you deposit using a debit card or 3.5% when using a credit card.|
|Withdrawal Charges||Similarly, crypto brokers charge traders withdrawal fees depending on the currency they wish to withdraw. These charges are stated on the website and vary from one crypto exchange to another. And since these fees can consume your profits, we advise you to look for brokers with lower or at least average withdrawal fees from our list above.|
|Margin Fees||Exchanges charge margin fees depending on your cryptocurrency trading pair. It involves leverage trading, where you are using borrowed money to boost your wallet’s balance. Margin fees are usually represented as a percentage of the entire trading position. For instance, you might be required to pay 15% to open a Bitcoin position.|
Are Crypto Brokers Legal in the United Arab Emirates?
Yes. The UAE cryptocurrency regulation allows brokers to operate in the country since there is no ban on cryptocurrencies at the moment. The Emirate of Dubai established the Dubai Virtual Assets Regulatory Authority (VARA) in February 2022 to accommodate blockchain innovations in the Middle East.
According to UAE cryptocurrency regulation, any broker offering their Bitcoin exchange services in the country must be licensed by VARA. Bahrain and the UAE have been at the forefront of embracing the crypto industry by encouraging innovators and entrepreneurs to adopt cryptocurrency.
In the UAE, cryptocurrency is regulated by Abu Dhabi Central Markets (ADGM) and Dubai World Trade Center (DIFC). On the other hand, the Central Bank of Bahrain is mandated to regulate cryptocurrency exchanges in Bahrain.
Mobile Trading Platforms – Apps for iOS and Android
Crypto trading apps come in different versions, including iOS, Mac, Windows, and Android. The mobile trading apps offer many benefits to traders, including better payment structure, automated services, and the latest updates. Here are the best crypto trading apps in the UAE:
|eToro||✓ Demo account |
✓ STP provision
✓ Live chat
✓ Phone support
✓ Email support
✓ Islamic account
✓ Standard account
✓ CFD trading
|Android & iOS|
|Coinmama||✓ Email support |
✓ Live chat
✓ Many banking options
✓ Loyalty program
|Alvexo||✓ Separate customer account |
✓ Traders academy
✓ Trading signals
✓ Market updates
✓ Trading calculator
✓ Economic calendars
|MetaTrader 4, Android & iOS|
|ThinkMarkets||✓ Demo account |
✓ Standard account
✓ Economic calendar
|MetaTrader 4, ThinkTrader & MetaTrader 5|
Crypto Brokers in Other Countries
- Crypto Brokers USA
- Crypto Brokers Nigeria
- Crypto Brokers Australia
- Crypto Brokers Singapore
- Crypto Brokers Kuwait
Crypto Trading Platforms in the UAE – FAQs
🤑❓🇦🇪 Is it legal to trade cryptocurrency in the United Arab Emirates in 2022?
Yes. The United Arab Emirates enacted a law to regulate virtual currencies in the country. According to the regulation, anyone offering virtual currency services must be licensed by VARA.
🤑❓🇦🇪 What are the crypto trading platforms with the lowest fees in the UAE?
There are many crypto trading platforms with low charges in the UAE, but only a few are trustworthy. Some of the most legitimate exchanges with the lowest fees include Coinbase (0.04%), Binance (0.10%), and eToro (1%).
🤑❓🇦🇪 Do I need to pay taxes for crypto trading in the UAE?
No. The Central Bank of UAE only recognizes cryptocurrency as an investment asset and not as a legal tender. Therefore, there are no current requirements that UAE investors should pay taxes when trading in digital currencies.
🤑❓🇦🇪 Can I buy Bitcoin or another cryptocurrency using Dirham?
Yes. The best crypto trading platforms, such as BitOasis, will allow you to buy your preferred cryptocurrency using Dirham.