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Rain is a crypto exchange focused on serving UAE, Saudi Arabia, Bahrain, Oman and Kuwait. They offer 24/7 support and meet all CCSS requirements as a crypto custodian and is licensed by the Central Bank of Bahrain as a Crypto Asset Brokerage.
BitOasis is a digital currency platform serving the MENA region. Customers can buy bitcoin via wire transfer or credit/debit card in the United Arab Emirates, Saudi Arabia, Oman, Kuwait, Egypt, Morocco, Jordan and Bahrain. UAE clients may also deposit funds via exchange houses.
Coinmama allows customers in almost every country to buy bitcoin. They charge a 4.9%-5.9% (depends on volume) fee on each purchase.
Customers in Europe can also purchase bitcoins with SEPA transfer for a lower fee.
Paybis is a popular cryptocurrency exchange. They serve 180 countries and 48 US states and are registered with FinCEN, making them a more trusted, regulated exchange. Paybis offers incredibly high limits and super fast payouts, not to mention 5 minute ID verification and nearly perfect review scores on Trustpilot.
You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they're also private. That convenience and privacy, however, comes with a price; most ATMs have fees of 5-10%.
Bahrain is one of the most crypto-friendly countries in the Middle East. They've approved more than 30 companies for their regulatory sandbox, many of which have become cryptocurrency exchanges or Bitcoin ATMs.
In September 2022, the Central Bank of Bahrain (CBB) approved a partnership between EasyPay and Binance that will allow over 5,000 POS and online payment gateways to accept bitcoin and other cryptocurrencies.
Thanks to the CBB's crypto-friendly attitude, buying and selling Bitcoin in Bahrain is also easy.
One of the easiest ways to purchase Bitcoin in Bahrain is using one of the exchanges listed above. As of May of 2022, there are unfortunately no Bitcoin ATMs in Bahrain.
There are several exchanges offering Bitcoin in Bahrain, and you can easily select one based on your requirements and preferences using our guide. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be kept in mind before users select one.
Additionally, Bitcoin buyers need to keep in mind the fact that certain exchanges might require them to get a wallet of their own before they are able to buy the digital currency. Also, it is recommended to have a wallet of your own for security reasons, preferably a hardware wallet.
There are three main types of Bitcoin wallet and all of them are supported in Bahrain:
The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use. It connects to iOS, Android & desktop computers.
Electrum is a Bitcoin-only wallet that has been around since 2011. It's easy to use, but has advanced features.
In January of 2020, the Central Bank of Bahrain issued a warning to its citizens of an unlicensed exchange called 'bahrain.bitcoin'> The warning included screenshots of its instagram account claiming to be a licensed trading platform in Bahrain.
The CBB advised citizens to check the authenticity of financial institutions on its website before investing any sum of money.
For most people, buying Bitcoin directly from an exchange or a peer is the best and fastest way to acquire Bitcoin.
Mining requires a large upfront investment of time, money, and energy (no pun intended). Unfortunately, given the current price of Bitcoin and block difficulty, mining isn't profitable.
Electricity is one of the leading factors of Bitcoin mining profitability, or any other cryptocurrency for that matter.
If the value of the tokens you're mining is greater than the cost of electricity, your mining operation will be profitable.
Unfortunately, the mining gold rush has ended, and profitably mining isn't feasible anymore for the average Joe.
Bahrain has electricity prices compared to the likes of China and India. It is less than half that of the United States.
So, if you are going to start mining, it wouldn't be a terrible idea to do it in Bahrain, thanks to their low energy costs.
But even with cheap electricity and the best mining hardware you'll have a tough time earning money.
Mining Bitcoin will require a significant upfront cost, and you most likely won't see a return on your investment. You'll spend more money on power than you'll earn in Bitcoin. Check out our Bitcoin mining calculator if you want to determine your expected margins.
Citizens of Bahrain can use Coinbase to convert cryptocurrencies with other cryptocurrencies.
Unfortunately, at this time, there are no Bitcoin ATMs in Bahrain.
You can use our Bitcoin ATM finder tool to check back in occasionally and see if one has opened.
Bitcoin prices are changing every second.
The best way to find the most up-to-date price of Bitcoin is to check out our Bitcoin price page.
Any exchange with a Bahraini dinar trading pair will allow you to sell your Bitcoin for fiat currency. Rain has BHD trading pairs for many popular coins.
As of January of 2021, there are unfortunately no Bitcoin ATMs in Bahrain.
LocalBitcoins is another option. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. LocalBitcoins is a peer-to-peer (P2P) exchange, where you buy and sell with another individual. This does introduce a degree of risk, though by ensuring that you conduct all business on the platform, make use of its escrow services, and only trade with users who have a good reputation, you'll minimize any potential problems.
You could also use a service like eGifter to sell your Bitcoin for gift cards.