In this guide, we go over the best crypto exchanges in Libya. We have analysed and evaluated 133 crypto exchanges in 8 different categories. We measured all aspects of their service including fees, trading platform, mobile trading, deposits & withdrawals, assets, customer support, liquidity and security. Crypto trading platforms that reached the highest scoring are considered in the following list:
Top 6 Crypto Exchanges In Libya
- eToro is the best crypto exchange in Libya. Great copy trading tool, regulated by top tier one authorities.
- Coinbase finished up second as the best crypto trading platform. Great trading platform and low fees.
- Cash App comes up on third spot. Best tool set for beginners beginners. Easy to use Bitcoin trading platform.
- Binance is at number four. Well established cryptocurrency trading platform with large trading volumes and liquidity.
- Kraken is in fifth place. Great Bitcoin exchange founded in 2022. Sophisticated trading tools for experienced investors.
- CEX IO finishes our list at six. Best automated crypto trading tools. Great assets coverage and crypto margin trading.
Best Crypto Exchanges Libya – List
|Exchange||Overall Score||General info||Fees (Maker/Taker)||Spot Volume (BTC)|
|#1||eToro||4.9||Best overall crypto exchange||1%/1%||$2,739,612|
|#2||Coinbase||4.8||Best crypto trading platform||1.99%/1.99%||$451,706,550|
|#3||Cash App||4.8||Best For Beginners||1.8%/2.75%||$68,571|
|#4||Binance||4.6||Best Altcoin Portfolio||0.1% /0.1%||$806,899,070|
|#5||Kraken||4.5||Most trusted exchange||0.16%/0.26%||$53,964,331|
|#6||CEX IO||4.5||Most asset classes||0.01%/0.00%||$808,571|
This section below breaks down the best crypto trading platforms in Libya, beginning with the best rated eToro.
eToro and eToroX takes the first place as the best crypto exchange in Libya. Their trading platform is easy to use, offers advanced copy trading features and supports over 40 different digital assets. Professional traders will miss advanced conditional orders, sophisticated charting tools and some popular digital currencies.
eToroX comes with all features and tools offered by industry leading decentralised crypto exchanges including margin trading, fast execution, APIs and fiat deposits in USD and AED.
eToro is and well established global crypto exchange, regulated by top tier financial authorities. It keeps a track record of users stored funds for over a decade.
Account opening is fast and simple, customer supports is responsive and available in Arabic language. The minimum deposit for residents of Libya is 250 Libyan Dinar, withdrawal fees are low, overall fees are average.
Crypto assets are unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
02. Coinbase: Best Platform For Cryptocurrencies
Coinbase comes in second place as the best exchange for crypto beginners. Their trading platform offers access to over 100 crypto assets, fast trade execution, rewards on trading and a beginners friendly interface. Trading fees are above industry average.
Coinbase Pro is available for professionals with access to a lower fee structure and advanced tool including stop loss orders, advanced charting and indicators. Users will not find an option to trade futures or to trade on margin accounts.
Customer support is below industry average.
03. Cash App: Best Crypto Trading App
Cash App is a great pick for Libyan crypto enthusiasts who want to buy Bitcoin on a easy to use crypto platform. Cash App is a peer-to-peer money transfer system offering flexible solution to withdraw funds to main crypto wallets and also buy and sell cryptocurrency at the same time.
Cash App offers access to the most traded cryptocurrency assets, including Bitcoin, Ethereum, Ripple NFT’s, Shiba Inu and most Altcoins. Their crypto trading app is interactive, easy to use and beginner-friendly. Trading costs are average and you can expect additional fees. Advanced trading features like different order types, limit orders, standing orders, crypto staking, margin trading and storage options are missing.
Cas app lets users directly deposit money their bank account and use tax filling tools.
04. Binance: Best Platform to Buy Cryptocurrency in Libya
Binance takes the fourth spot, as the best platform to buy cryptocurrency in Libya. High-volume crypto traders will appreciate the high spot trading volumes, wide range of available coins, low fee structure and advanced trading tools and order types.
Binance has premium account features, including staking rewards and OTC trading. Traders earn from 1-10% for holding different assets over time. We recommend this crypto exchange for advanced Libyan crypto traders who want to trade with lower trading fees and invest in less popular alt coins. We do not recommend Binance for beginner traders.
05. Kraken: Best Trading Platform for Bitcoin
Kraken is a well-established and the oldest crypto exchange with industry-leading technology. It finished in fifth place as the best trading platform for Bitcoin in Libya. It is a great choice for advanced crypto investors who are looking for margin and futures trading options, sufficient trading volume and low trading costs.
Krakens proprietary trading platform allows users to buy and sell digital currencies with the lowest fees in the industry, multiple order types, valuable educational resources and quick buy features. The mobile version in available on iOS and Android app and has all trading tools from the web version.
High-net-worth clients are the only ones allowed to use the exchange’s consultation and management services.
06. CEX IO: Best Cryptocurrency Exchange
CEX IO is finishing up our list of the top 6 crypto exchanges for Libyan citizens. With more than 90 different crypto asset classes, its advanced trading tools, cross-platform trading and availability in all MENA countries, it is a great fit for advanced traders.
Cex.io has high trading fees for debit/credit card transactions. Deposits are charged with a 2.99% fee, while withdrawals have a fee of 3%.
All traders receive staking rewards and access to a reliable mobile app enabling them to buy and sell cryptocurrency fast and cheap.
How To Pick a Crypto Exchange?
The main criteria to consider when choosing a crypto exchange include: fees, trading platform, mobile trading, deposits & withdrawals, assets, customer support, liquidity and security.
Fees: Avoid exchanges that charge high fees on trades, overnight fees and hidden fees.
Trading platforms: Look for intuitive, easy to use and fast executing trading platforms.
Mobile Trading: Mobile trading apps should offer the same trading tools and charts as their web versions.
Deposit & Withdrawal: Choose an exchange that offers your preferred deposit and withdrawal options with low or no fees.
Assets: Look for the best coverage of asset classes. Exchanges not offering the most popular alt coins should be voided.
Customer support: Beginner crypto traders should look out for responsive and professional customer support available in their language.
Liquidity: High liquidity and trading volumes guarantee that you will be able to sell your crypto assets.
Security: Prioritise regulated exchanges offering proof of funds, penetration tests and have a clean history record of hack attacks. Always check security features with the crypto exchange security rating agency (CER.live)
*Safety Risks For Libyan Citizens
A trustworthy cryptocurrency exchange for Libyan citizens is government-regulated and has a trading licence. Larger exchanges have a banking history.
Regulation Of Cryptocurrency Exchanges in Libya
The Central Bank of Libya (CBL) is the main financial regulatory body for cryptocurrency trading in Libya. In 2018 they adopted a legal framework stating that cryptocurrencies are illegal. For this reason, cryptocurrency exchanges operate unregulated. We recommend only trading with the safe and reliable crypto exchanges mentioned in this guide.
Is Cryptocurrency trading Legal in Libya?
Cryptocurrency and Bitcoin trading in Libya is illegal. Libyan law doesn’t prohibit the ownership, use, or trade of cryptocurrencies. For this reason, it is legal to trade crypto in Libya. Note that crypto cannot be used for official commercial transactions.
How to Start Trading With – eToro?
eToro is the most popular crypto exchange in Libya because of zero hidden fees, copy trading tools, demo account and a beginner friendly platform. Below are steps you need to take in order to start trading on eToro.
STEP 1: Open up the eToro Official Website
Find the link to the eToro crypto section under this link here: https://www.etoro.com/crypto/
STEP 2: Click on the “Get Started” Button
STEP 3: Verify Your Trading Account
To buy cryptocurrency using eToro you need to open a trading account, verify your account and make a deposit. This will enable you to buy, hold and sell crypto assets using this trading platform.
STEP 4: Buy Cryptocurrency
You can buy, hold and sell fractions of each crypto asset. To own a crypto coin you don’t need to buy the whole coin.
We recommend eToro as the best crypto exchange for Libyan crypto enthusiasts. They offer brokerage and exchange services at the same time along with zero commission fee trades, advanced copy trading tools, a user friendly platform and availability of 40 different crypto asset classes. Coinbase comes in at second second, based on their overall low fees, great support and tradable assets.
The results from our final verdict are based on our evaluation process where we research and analyse all aspects of crypto exchange services including fees, trading platform, mobile trading, deposits & withdrawals, assets, customer support, liquidity and security.
How can I buy crypto in Libya?
You can buy crypto in Libya at cryptocurrency exchanges like eToro, Binance, and Coinbase.
What is the most accurate crypto exchange in Libya?
eToro is the most accurate crypto exchange in Libya that always shows its traders real-time pricing without delays.
Is Kraken available in Libya?
No, at the moment Kraken is not available in Libya. We suggest trading cryptocurrency at eToro instead.
How To Open A Cryptocurrency Exchange Account?
Cryptocurrency exchanges have you set up an online account and submit proof of identity. This verification process includes checking your identity with a third-party application or submitting a picture of your ID.
How To Cash Out Cryptocurrency In Libya?
If you want to cash out crypto in Libya, you’ll have to use an exchange that supports withdrawals in your fiat currency. BitOAsis lets users in Libya, the United Arab Emirates, Kuwait, Bahrain, and Saudi Arabia withdraw AED to a bank account.
A straightforward way to cash out crypto is with a Uquid debit card. It offers a smooth conversion process for Bitcoin. Bitcoin ATMs are another top way to exchange BTC for fiat currency.
LocalBitcoins and other P2P exchanges will help you cash out crypto. Such providers let you buy/sell Bitcoin for different payment methods, including gift cards and bank transfers.
Is Cryptocurrency Trading in Compliance to the Sharia Law?
Trading cryptos is “halal” and in compliance with the sharia law if the underlaying tokes in halal.
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.75% 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. Past performance is not an indication of future results. Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.
- 1 Top 6 Crypto Exchanges In Libya
- 2 Best Crypto Exchanges Libya – List
- 3 How To Pick a Crypto Exchange?
- 4 Conclusion