How To Buy Bitcoin in Saudi Arabia?
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Easiest and cheapest ways to buy crypto in Saudi Arabia
Getting bitcoins in Saudi Arabia is not an easy task as not all popular crypto exchanges are available to Saudi Arabia citizens. This is a current list of bitcoin exchanges that allow users from Saudi Arabia to buy crypto. They all support buying crypto with credit/debit cards but some of them offer other payment methods as well.
Deposit fees:
N/A Withdrawal fees:
0.0005 BTC Trading fees:
0.25% – 0.50% Payment Methods:
Credit Card, Debit Card Supported fiat:
AED
Debit card deposits for 6 Middle East countries
Perfect if you want to trade in AED
Fiat deposits and withdrawals only available for six nations
No live chat or telephone support
Not regulated
Binance
Ease of Use – Medium Fees – Low Verification – 1 Day Reputation – Trusted Supported fiat – USD, EUR, GBP, AUD, RUB
Binance is widely considered the largest cryptocurrency exchange in the world. It was launched in July of 2017 and in a short period of time became the exchange with the largest trading volume with more than $1 billion on a daily basis.
More info +
Deposit fees:
Free Withdrawal fees:
Vary from crypto to crypto Trading fees:
0.1% Payment Methods:
Debit Card, Credit Card, SWIFT, Bank Transfer (SEPA), and more Supported fiat:
USD, EUR, GBP, AUD, RUB, and 15+ more
High liquidity
It supports a large number of crypto assets
Widely considered the largest crypto platform
Various advanced features and services
One of the lowest fees among top exchanges
Not available in the US
Not fully registered
Hacked in 2019
Deposit fees:
Changelly does not have set fees due to the volatility of cryptocurrencies Withdrawal fees:
None Trading fees:
0.25% Payment Methods:
Debit Card, Credit Card Supported fiat:
USD, EUR, GBP
Wide range of cryptocurrencies
Low crypto-to-crypto exchange fees
Easy to use
Not regulated in the U.S.
High fiat-to-crypto rates
Limited payment options
Best Bitcoin Wallets in Saudi Arabia
It is never a good idea to keep your coins on an exchange as that exposes you to numerous risks (exchange hacks, fund freezes by the exchange or some government regulatory body, etc). That is why you should use one of the wallets we list below to store your digital assets. The safest option is a hardware wallet like Nano X but ZenGo is also a good choice, especially for newcomers.
ZenGo is an easy iOS/Android Bitcoin & cryptocurrency wallet. Getting started takes less than 20 seconds.
extremely safe as it uses biometrics for security
you can buy crypto directly from it
has savings and staking account
No major flaws
Electrum is one of the oldest and most popular desktop multi-currency wallets which is compatible with Windows, Mac, and Linux
One of the oldest wallets in the market
you can buy and stake directly from the wallet
supports all major coins and blockchains
Not completely open source
Ledger Nano X is a leading and most secure cold storage wallet that connects to your device via Bluetooth.
Safest wallet in the market
competitive price
supports a lot of coins
you can buy directly from the wallet
stake directly from the wallet
Small display
complicated to setup for newbies
Read also:
- How To Buy Bitcoin in South Africa?
- How To Buy Bitcoin in Sweden
- How To Buy Bitcoin in Germany?
- How To Buy Bitcoin in Egypt?
Bitstamp
Ease of Use – Easy Fees – Low Verification – 1 Day Reputation – Trusted Supported fiat – USD, EUR, GBP
Established in 2011 and with HQ in London, Bitstamp is one of the oldest European-based cryptocurrency exchange platforms. With more than a decade of experience, Bitstamp has amassed a pretty decent following. Users can trade crypto via the online trading platform, active trading platform, or mobile app that supports both Android and iOS devices.
More info +
Deposit fees:
0 – 5 % Withdrawal fees:
Sepa – 3 EUR, ACH – Free, Credit cards – 5%, International wire – 0.1%, and crypto – depends on the asset (0.0005 BTC) Trading fees:
0 – 0.5 % Payment Methods:
Credit/Debit Card, ACH Transfer, SEPA, USD Wallet, Faster Payments, and International Wire. Supported fiat:
USD, EUR, GBP
24/7 Phone Customer Support
Low fees
The mobile app is highly rated
Security on a high level
A small selection of cryptos is available
Just 2 cryptocurrencies are available for staking
Limited educational content for beginner traders
Coinbase
Ease of Use – Easy Fees – High Verification – 1 Day Reputation – Trusted Supported fiat – USD, EUR, GBP, RUB
Founded in 2013 in London, UK, and with over 4 million users, Cex.io is among the oldest cryptocurrency exchange platforms on the market. On Cex.io, you can buy, sell, trade, and store over 100 cryptocurrencies.
More info +
Deposit fees:
0 – 3.99 % Withdrawal fees:
0 – 3 % Trading fees:
0 – 0.25 % Payment Methods:
Credit Card, Bank transfer, ACH, Epay, Skrill, SEPA, Faster Payments Supported fiat:
USD, EUR, GBP, RUB
Regulated and licensed
Well Established Company
Mobile App (Android and iOS)
Great support
Lower liquidity than other exchanges
Extensive Verification Process
Paxful
Ease of Use – Easy Fees – Average Verification – 1 Day Reputation – Trusted Supported fiat – USD, EUR, GBP, CAD, AUD + more
Paxful is “the Uber of the Bitcoin”. It is a crypto exchange based in the US that has over 200 employees. Paxful was launched back in 2015 so it has been around for quite some time now. The founders of Paxful are Artur Schaback and Ray Youssef.
More info +
Deposit fees:
Free Withdrawal fees:
0.5% – 5% Trading fees:
No buyer fee, seller fee varies from 0.5% to 5% Payment Methods:
Over 350 payment methods are available Supported fiat:
USD, EUR, GBP, CAD, AUD, and many more
An incredible number of payment methods
Easy-to-use platform
Available in more than 180 countries
Security is on a high level
No trading features
It is not regulated
Frequently asked questions about buying Bitcoin in Saudi Arabia
Bitcoin is legal in Saudi Arabia. One can exchange and buy Bitcoin in Saudi Arabia. However, the financial authorities of Saudi Arabia issued a warning on Bitcoin trading and offer no protections for cryptocurrency-related losses. There are ATMs for Bitcoin in Saudi Arabia and maintained Bitcoin exchanges.
Cryptocurrency machine is installed at 7588 Al Amir Sultan, حي الزهراء، Jeddah 23425 3986, Saudi Arabia.
Bitcoin ATMs are another way to exchange your BTC for fiat currency. There is just the one in Saudi Arabia, located in Jeddah.
The Saudi Central Bank (SAMA) has warned from using bitcoin as it is high risk and its dealers will not be guaranteed any protection or rights. The government of Jordan has issued a warning discouraging the use of bitcoin and other similar systems.
To start, all you need to do is create an account and verify it to purchase BTC instantly. You can buy Bitcoin in UAE for as low as 37 AED with zero fees using nearly 400 payment options available on the platform, including PayPal, Western Union, debit and credit cards, and other popular payment methods in the country.
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