Best Exchanges to Buy Crypto in Dubai, UAE (2023 update)
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It has become simple to buy crypto in Dubai because of the large number of exchanges. The process is getting even simpler since anyone can buy crypto using their debit/credit cards and many other payment methods.
In this post we will view the best exchanges to buy crypto in Dubai, UAE.
Best Crypto exchanges in Dubai, UAE:
1. Bitoasis:
Founded in 2015 and based in Dubai, BitOasis is the largest digital asset trading exchange, platform, and wallet service in the Middle East & North Africa MENA region.
Bitoasis.net is an exchange and wallet. It offers multiple Digital Assets and Trading Pairs.
The BitOasis platform is available to users in the United Arab Emirates (UAE), Saudi Arabia, Bahrain, Kuwait, Oman, Jordan, Egypt, and Morocco.
Pros:
• Simple and user-friendly platform
• Best platform if you want to trade in AED
• Accepts Credit/Debit Card payments
• Been physically in the UAE market for around 6 years
Cons:
• Relatively high trading fees compared to industry standards.
2. Binance:
Binance is one of the largest and top exchanges in the world. It is the world’s largest exchange platform in terms of volume. Founded in 2017 and headquarters in Malta.
Binance offers different options for buying and trading cryptocurrencies. Here are the different options the exchange offers:
Debit/Credit Cards:
Binance‘s Exchange allows users to exchange fiat currencies for Bitcoin and other altcoins. Also, there are different ways you can buy crypto on Binance:
P2P:
Binance offers a peer-to-peer (P2P) trading service, that connects buyers and sellers of cryptocurrency, and users can choose from wide range of payment options to do the transaction such as bank Skrill, Neteller, bank transfer, bank deposit and Western Union transfer.
Binance Exchange:
Users can trade different cyptocurrencies through Binance exchange platform.
Pros:
• Simple and user-friendly platform
• High trading volume that results to greater liquidity to Binance traders.
• offers staking option, which allows users to earn interest for holding their cryptocurrenices
• Support deposits and withdrawals of crypto and fiat money.
• Highly sercured platform.
Cons:
• Slow customer support response
3. Kraken:
Kraken is one of the largest cryptocurrency exchange platforms in the market. Founded in 2011, it enables users to trade a wide range of coins and tokens. Kraken also offers futures contracts and margin trading.
Pros:
• One of the lowest transaction fees.
• Highly secured platform.
• Advanced trading options.
• offers staking option, which allows users to earn interest for holding their cryptocurrenices
Cons:
• Platform is not easy for beginners
4. eToro:
eToro is one of the world’s leading brokers. A multi-asset platform where users can trade CFDs, currencies, indices, commodities, Stocks, and Cryptocurrencies.
The eToro Money crypto wallet is an easy-to-use, multi-crypto, highly secure digital crypto wallet.
eToro crypto wallet has several high-level security features to protect against unauthorized access, including multi-signature facilities, DDoS protection, and standardization protocols.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Pros:
• Offers a copy traders feature
• Highly secured platform.
• Advanced trading options.
• offers staking option, which allows users to earn interest for holding their cryptocurrenices
Cons:
• High trading fees
• Users can’t transfer their assets to an external wallets
5. Rain:
Rain is the first cryptocurrency exchange to get regulated in the Middle East. The exchange is based in Bahrain and servers Saudi Arabia, UAE, Oman, Bahrain and Kuwait.
Pros:
• Easy access to cryptocurrency from Gulf countries
• Trusted and licensed in the region
• Shari’a compliant
• High buying limits
Cons:
• Relatively high trading fees compared to industry standards
Crypto Wallets:
Some exchanges offer a wallet service along with the exchange (all exchanges we viewed in this article above have their own wallet), while others don’t, and they ask you to provide your own wallet address to transfer the crypto you purchased through them to.
However, in both ways, it’s always recommended to have a separate wallet than your exchange. Normally, crypto wallets have higher security than exchanges, and if you are planning to hold your crypto for long time, it’s highly recommended to store them in an external wallet.
There are different types of wallets, depends on the access and security, The main types of wallets are:
1. Hardware wallet:
It’s a unique cold storage wallet that you can store your bitcoin and altcoins on, just like the USB device that you can connect to your laptop. It is the most secure way of storing any amount of Bitcoin since they are offline.
One of the best Hardware wallet:
2. Desktop Wallets:
Desktop wallets are designed to be downloaded and installed on laptops and desktops for storing the coins on your hard drive. They give you complete control over your coins, meaning that you don’t have to trust an exchange to store your coins for you.
Best desktop wallets:
Bitcoin Core
Electrum
Atomic Wallet
3. Mobile Wallets:
A mobile wallet is an app that can be downloaded on your phone. Even though mobile wallets are convenient and easy to use, but the downside of them is that they are highly exposed to hacker attacks.
Best Mobile Wallets are:
• Free WalletÂ
• Trust Wallet (Binance Wallet)
Bottom Line:
There is no doubt that digital coins are the future of the financial system, and you don’t want to miss being part of this transformation. However, investing in cryptocurrencies carries risks since the market volatility is high; therefore, always do your research before buying any currency in order to minimize the risk of losing part or all of your capital.
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