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Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
eToro is a trading platform and crypto exchange. It supports Bitcoin, Ethereum, Litecoin, Zcash and many other coins.
Deposits can be made quickly via bank transfer, SEPA, NETELLER, PayPal and more. It also offers unique features like copy trading.
Cryptoassets are highly volatile. Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
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.
You can use our Bitcoin ATM map to find a Bitcoin ATM machine in UAE & Dubai. 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%.
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.
This crypto/Bitcoin ATM machine is located at YBETA in Dubai, UAE.
This crypto/Bitcoin ATM machine is located at EMF Crypto in Dubai, UAE.
This crypto/Bitcoin ATM machine is installed at 488ex in Dubai, UAE.
This Bitcoin/crypto ATM machine is installed at The Binary by Omniyat - Pallapay in Dubai.
The United Arab Emirates doesn't recognize Bitcoin as a legal form of tender, but it's not banned either. While the UAE warns against it, buying and selling Bitcoin is pretty easy there.
Yet for a longtime the UAE has been one of the more progressive crypto countries. The government owned licensing firm Kiklabb allows clients to pay fees using digital assets to the Dubai Financial Services Authority. The Dubai Financial Services Authority also announced it is working on a framework for crypto as part of its 2021 business plan. The UAE seems to be building a framework for a complete crypto-enabled system.
If you want to buy Bitcoin from an exchange local to the United Arab Emirates, BitOasis is one of the largest exchanges in the Middle East. Based in Dubai, BitOasis supports many of the largest cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.
They're one of the best exchanges to choose if you live in a country they service, thanks to their low fees.
But before you buy Bitcoin or any other cryptocurrency for that matter, it's crucial to have a secure form of storage. Investing in Bitcoin is no joke, nor is securing your investment.
Many Bitcoin exchanges offer built-in wallets, but they're centralized and as a consequence, vulnerable to theft. Since it is never recommended that you leave your cryptocurrency on an exchange, purchase a wallet of your own for security reasons (preferably a hardware wallet). If you don’t have a wallet, refer to our guide below on the Best Bitcoin and Cryptocurrency Wallets.
Once you have your wallet situation squared away, you're good to go. Choose your exchange, verify your identity, add your payment method, and buy Bitcoin.
Again, the easiest ways to buy Bitcoin in the UAE is through the cryptocurrency exchanges outlined above. Just select one based on your requirements and preferences using our list outlined above. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be kept in mind before users select one.
Another way to buy Bitcoins in the UAE is through Bitcoin teller machines (ATMs). These ATMs allow users to instantly purchase the cryptocurrency using cash, and most of them only require a telephone number for verification, so long as you aren’t buying a lot of Bitcoin, they are more private than exchanges.
Unfortunately, there is only one Bitcoin ATM in all of the UAE and its in Dubai at the 5 star Rixos Premium Hotel.
There are three main types of Bitcoin wallet and all of them are supported in the UAE:
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.
Ethereum (ETH) has established itself as the second most popular digital currency, after Bitcoin. Its smart contract features allow unique apps to be built on top of its platform. Below you will find exchanges in United Arab Emirates that allow you to buy ethereum. Once you buy, you should withdrawal your ETH directly to your own crypto wallet.
Litecoin (LTC) is one of largest cryptocurrencies by market cap. Below you can find a list of brokerages in United Arab Emirates that allow you to buy litecoin and other crypto assets for good exchange rates.
UAE-based exchanges have so far avoided any major hacks, though there have been a number of Bitcoin-related scams targeting Emirati crypto enthusiasts.
One longtime fraudster - 50 year old Renwick Haddow of the UK - scammed 150 UAE residents and many hundreds more around the world with his company Bar Works. The company offered investors the chance to purchase a desk at one of their locations - former bars and restaurants converted to office spaces - for $25,000. The desk could then be leased back to Bar Works for a promised annual return of 14%.
Bar Works' first location opened in October 2015 at 47 West 39th Street, New York City, looking very much like... a bar.
But rest assured, the company hired unnamed auditors who described Bar Works' business model as "bomb-proof."
Not bomb-proof enough, however, to collapse in the end, as Ponzis tend to do. In April 2017, the company announced that it was experiencing "difficulties with its banking facilities," and the following month investors were told that their monthly payments would be delayed due to "constructive restructuring."
Bar Works' CEO Renwick Haddow - whom the company claimed was just an advisor - was arrested after attempting to enter Morocco with an active Interpol warrant out in his name. He was then extradited to the U.S., where he faces multiple 20 year sentences.
Closer to home, a Pakistani-born Canadian man was arrested in October 2019 in Dubai after perpetrating a number of scams such as the International Success Group (ISG) as well as a cryptocurrency called Habibi Coin. Police were alerted after a UAE resident reported losing $150,000 in one of Com Mirza's business endeavors.
Gulf News had previously published a profile of the flashy Aziz Com Mirza - who lived in the half-mile high Burj Khalifa and drives supercars - accusing him of conducting a string of dodgy pyramid schemes and failed real estate projects.
Habibi Coin was marketed as a "Sharia-compliant" cryptocurrency and "the Bitcoin of the Middle East." Hundreds of investors from the Middle East, US, and UK each invested tens of thousands of dollars of their own money into the coin, which is worthless after failing to deliver on any of its promises.
Mining Bitcoin in the United Arab Emirates is not the best idea if you want to acquire Bitcoin - this is especially the case if you're expecting to turn a profit, which is next to impossible.
Bitcoin mining has come a long way from its golden age when nearly anyone could mine profitably. Now, only large mining farms in companies with cheap electricity are left.
The United Arab Emirates isn't incredibly high on the charts in terms of energy costs, but their certainly not low, either.
On average, UAE citizens pay roughly 0.296 Dirham per kWh ($0.08), which is lower than the prices in the United States and Canada.
But countries like China, India, and even Georgia have an edge, where electricity costs are $0.05 or less per kWh.
Even in countries with electricity and the best Bitcoin mining hardware, it's challenging to turn a profit. You'd be lucky to make your money back after the startup cost if you make a profit at all.
If you don't believe me, you can check your project profitability with our Bitcoin mining profitability calculator tool by clicking that link. If you were to use an Antminer S19, you would still lose nearyl $2,000 a year.
Bitcoin's block difficulty is continuously increasing, and with the current price of Bitcoin, it doesn't look like Bitcoin mining is profitable for the average person. Although, the Bitcoin halving might change that soon.
Either way, if you're a resident of the United Arab Emirates and you want Bitcoin, leave mining to the pros. Instead, choose one of the exchanges above, and buy it directly from there.
Coinbase is not available in the United Arab Emirates.
See above for a list of great exchanges that are open to citizens and residents of the UAE.
Bitcoin ATMs are a convenient way to buy and sell Bitcoin and other cryptocurrencies for cold hard cash. This method usually incurs relatively high (5-10%) fees, but that's the price to be paid for the convenience of getting cash for your Bitcoin in less than half an hour.
Many ATM operators publish live prices for their machines, so you can see the exact rate you'll get before even visiting the ATM.
Some will require you to complete identity verification, though for many this is as simple as confirming a phone number.
Our Bitcoin ATM locator lists just one Bitcoin ATM in the United Arab Emirates, located in the Rixos Premium Hotel in Dubai.
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.
Another good way to check the price of Bitcoin in the UAE is to go the your exchange of choice and check the price in your local currency that Bitcoin last sold for. The price of an asset is just this - the value of the compensation for which it was most recently exchanged. This price differs across markets, i.e. one exchange may have a slightly lower or higher price depending on varying barriers to entry and liquidity. So, the price that matters most is the one you can actually trade at.
See above for a list of the best Bitcoin exchanges in the UAE.
There are also a range of websites such as CoinMarketCap and Nomics that list the prices of hundreds of digital assets, drawn from a range of exchanges and averaged out.
Buying property with Bitcoin in the United Arab Emirates is definitely possible, though not the always the simplest way to go about investing in real estate.
In late 2019, real estate developer Ellington Properties announced that it would accept payment in Bitcoin for all of their listed porperties.
As a tech-driven and customer-focused company, we move with the market trends to meet the customer aspirations, especially in this era of digital financial engagement. Cryptocurrency is becoming an increasingly popular payment method. Enhancing the customer experience through an added payment choice, Bitcoin Suisse will serve as our preferred crypto brokerage provider that will further add to our international property transactions – and in turn, bring more value to Dubai’s economy.
Another Dubai-based developer - Knox Group - has sold out of the 400 units it offered to the market with the option of paying with Bitcoin (via the U.S. company BitPay).
Knox Group's Aston Plaza residences.
But while purchasing property with Bitcoin through certain real estate firms may be as straightforward as possible, there are still restrictions to keep in mind.
The UAE still prohibits the use of cryptocurrencies as a method of payment or deposit. This means that you can't exactly buy a house with Bitcoin, you must work with a third-party broker who will convert it to fiat currency before sending it to the seller.
It's not quite yet the decentralized future many have imagined, but it's a step in the right direction.
Bitcoin debit cards are a great way to turn your crypto gains into holidays, gifts, or just groceries. Bitcoin debit cards allow you to spend a range of cryptocurrencies (always Bitcoin, often Ethereum, and sometimes other altcoins) wherever Visa or MasterCard is accepted. You either pre-load a certain amount of Bitcoin onto the card and convert it to fiat currency manually, or this is done at the time of purchase.
Unfortunately, there are not many Bitcoin debit cards available to UAE residents.
|Available in the United Arab Emirates?|
|Uquid||Available to existing Uquid customers in the UAE|
|Wirex||Account available, but not the debit card|
Uquid offers virtual and physical debit cards, both of which can be topped up with Bitcoin and linked to PayPal and other online payment services. Physical cards can be used for ATM withdrawals, while POS transactions are fee-free. Both are valid for three years.
No identity verification is required if you stay under $1000/£1000/€1000 limit over the lifetime of the card. Beyond that, you'll need to provide identity verification and proof of address.
The easiest way to cash out of Bitcoin in the UAE is to use an exchange that supports withdrawals of your preferred fiat currency. BitOasis allows users located in the United Arab Emirates, Saudi Arabia, Kuwait, and Bahrain to withdraw AED to the bank account reigstered with the exchange.
The abovementioned Bitcoin debit cards allow you to withdraw cash from any ATM. If you're able to get your hands on a Uquid debit card, this may be the easiest way to convert your Bitcoin into cash.
Bitcoin ATMs are another way to exchange your BTC for fiat currency. There is one Bitcoin ATM in the United Arab Emirates, located in Dubai.
LocalBitcoins and other P2P exchanges are 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.
As selling Bitcoin for fiat currency is generally considered a taxable event, you'll want to make sure you comply with local regulations regarding taxation of capital gains. Check out our guide to the best cryptocurrency tax software to help you maximize your profits.