The leading exchanges for buying Bitcoin in Saudi Arabia are eToro, OKX, BitOasis, Binance, and ByBit. eToro is the best Bitcoin exchange in Saudi Arabia. OKX is a top Bitcoin exchange for beginner investors. BitOasis has a competitive fee structure for Saudi Arabian traders.
Each Bitcoin exchange has advantages and disadvantages. This article discusses the best exchanges to buy Bitcoin in Saudi Arabia.
Best Cryptocurrency Exchanges In Saudi Arabia:
- eToro – Best Overall Exchange
- OKX – Best For Low Trading Fees
- BitOasis – Best Exchange For Low Fees
- Binance – Best Exchange For Asset Diversity
- ByBit – Competitive trading fees
|RANK||BROKER||GENERAL||PLATFORM SCORE||BEST FOR||WEBSITE|
|#1||eToro||Its online security system is one of the best||4.9 / 5||Best Overall Exchange||Official website|
|#2||OKX||Access to NFTs, perpetuals, swaps and options||2.8 / 5||Best For Low Trading Fees||Official website|
|#3||BitOasis||20+ digital assets and a competitive fee structure||3.4 / 5||Best Exchange For Low Fees||Official website|
|#4||Binance||For traders who want to invest in less popular altcoins.||4.3 / 5||Best Exchange For Asset Diversity||Official website|
|#5||ByBit||Great mobile trading app||2.7 / 5||Competitive trading fees||Official website|
Top 5 Crypto Exchanges of Saudi Arabia – Overview
1. eToro – Best Overall Exchange
Min Deposit: $200
Assets available: 4.8
79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. eToro AUS Capital Ltd ACN 612 791 803 AFSL 491139. OTC Derivatives are speculative and leveraged. Not suitable for all investors. Capital at risk. See PDS and TMD
- Access to over 4000+ tradable symbols
- Great overall market coverage
- Easy to use mobile trading app and platforms
- Industry leading social/copy trading app
- Great cryptocurrency trading features
- Responsive customer support
- Algorithmic trading not available
- Forex and CFD fees above industry average
- Education and research tools missing
- Sophisticated social-copy trading features
- Multiple different payment options
- Crypto exchange and brokerage services on the same dashboard
- Super fast registration and KYC on-boarding process
- Zero commission stock trading
- Great ease of use level
2. OKX – Best For Low Trading Fees
Assets available: 4.7
OKX is a Malta-based cryptocurrency exchange established in 2014 that offers users access to crypto spot, futures, and derivatives trading. Besides offering access to over 600 cryptocurrencies, OKX users can trade with NFT’s and various crypto 2.0 products including crypto perpetuals, crypto swaps, and crypto options. Users can also generate a passive income using high yield crypto savings accounts, stablecoin staking, and liquidity farming.
OKX charges competitive trading fees of 0,08% maker/taker, that can be further reduced by up to 0,02% by holding OKT tokens. This makes them one of the cheapest crypto exchanges in the industry.
OKX also has a deep liquidity (currently ranked 5 in trading volume) and a slippage score of 500 that guarantees order execution even on the smallest altcoins.
- Competitive fees (0.8% maker/taker)
- Great availability of coins (600+)
- Simple trading features for beginners
- Advanced trading features and charting tools
- Great passive income options (staking, liquidity mining)
- Access to NFTs, perpetuals, swaps and options
- Low liquidity for certain coins
- 600+ available digital assets
- Industry lowest trading fees (0.08-0.10% maker/taker fee)
- Deep liquidity levels
- Passive income options (staking, and liquidity farming, high yield crypto saving)
- Integrated NFT trading platform
- Beginner to advanced trading features
3. BitOasis – Best Exchange With Low Fees
BitOasis offers 20+ digital assets and a competitive fee structure. It is a low-cost Bitcoin exchange in Saudi Arabia. BitOasis is the most secure digital exchange in the Middle East.
It is a low-cost exchange with low BTC taker and maker fees. BitOasis allows Saudi Arabian traders to deposit funds to the local bank. There are no fees for bank transfers.
- Fast registration and verification process
- Good if you want to trade in AED
- Very good mobile app
- Higher trading fees
- Limited number of Crypto trading instruments
- Lack some advanced features (savings, staking)
- No live chat or telephone support
- Spot crypto trading
- Focused on MENA region
4. Binance – Best Exchange For Asset Diversity
Assets available: 5.0
Binance is a well-established crypto exchange on the globe. It offers many digital coins, besides the most popular crypto coins. It has 50+ cryptocurrencies, including Bitcoin and Ethereum.
Binance is a top choice for Saudi Arabian traders who want to invest in less popular altcoins. It offers 100 different trading pairs, including fiat-crypto pairs.
- The best daily trading volume for both spot Crypto trading and for Crypto derivatives
- The best choice of different assets to trade
- Great choice of saving and stalking options
- Very competitive trading fees
- Very good trading platform with lots of advanced features
- Easy sign-up process
- Very good choice for mobile trading
- Great deposit and withdrawal options
- Exchange has been hacked in the past
- Considerable withdrawal fees
- Customer support is sometimes hard to
- Spot and derivative crypto trading
- P2P (Peer-to-peer) crypto trading available
- Trading platform integrated with tradingview; automated trading available
- Savings, staking, crypto loans, Binance smart pool
- Binance liquid swap
- Binance Visa Card
5. Bybit – Competitive trading fees
Assets available: 3.7
ByBit is a crypto derivatives exchange that allows users to trade on a wide range of different trading pairs (BTC/USDT, BTC/USD, XRP/USD) with up to 1:100 leverage. With an intuitively designed mobile app, access to various different order types (market, limit, stop loss and advanced order types) and fast trade execution (100,000 transactions/second) it is an interesting choice for mobile traders at all levels.
The ByBit app is intuitively designed, very responsive and offers the same trading tools, charts, and conditional orders as the desktop version.
ByBit users have access to a variety of passive income options with high APYs including:
- Crypto staking
- Liquidity mining
- Dual asset farming
- DeFi mining
Their platforms supports 50 cryptocurrencies, 20+ fiat currencies, NFTs and ICOs. Users can start out with a free demo account filled with $100,000 in virtual money to test their trading strategy or familiarise with the platform.
With a 0.075% taker fee on all traders, a 0.06% net platform trading fee and 0.02% funding fee, ByBit is among the cheapest exchanges in the industry to trade cryptocurrency with.
- Crypto derivative products with 3 different contract options
- Access to wide range of trading features
- Access to average to advanced order types
- 1:100 max leverage
- Great mobile trading app
- Competitive trading fees
- Limited trading pairs available
- Low trading volume on some coins
- Over 30 different payment methods accepted
- Excellent customer support
- Up to 1:100 maximum leverage
- Low trading fees
- Access to NFTs, ICOs
How Did We Select The Best Crypto Exchange In Saudi Arabia?
At Business24, we aim to help Saudi Arabian traders make the best choices with their money. We know that the word “Best” is subjective. So, we explain both strengths and weaknesses of each crypto exchange. We use 105 factors to test exchanges and digital coins. We review exchanges with real accounts and money. The main criteria we focus on include safety, assets, and ease of use.
Costs: An excellent trading experience starts with a transparent fee policy. Most crypto exchanges offer access to a straightforward fee structure. Read our in-depth reviews to discover more about crypto exchanges and fees.
Account: Each crypto exchange offers distinct account tiers. Some request a minimum deposit fee. Others don’t charge for creating new accounts in Saudi Arabia. Check our in-depth reviews to learn more about account tiers available with Saudi Arabian exchanges.
Withdrawal and deposit: Withdrawing and depositing funds must be a simple process. Some crypto exchanges have longer processing times than others. Read about cryptocurrency exchanges in our reviews.
Market and products: Cryptocurrency exchanges have specific asset coverage. Read about markets and digital coins available in Saudi Arabia before investing.
Trading platforms: A user-friendly platform is vital for a good trading experience. Select an exchange with a simple interface. The exchanges in our review offer secure platforms with access to many features. Read our in-depth reviews to discover which platforms suit your needs.
Customer support: Customer support is essential for your cryptocurrency success. The best exchanges offer live chat, email, and phone support.
Related: best UAE crypto exchange
How To Buy Cryptocurrency In Saudi Arabia
Buying Bitcoin in Saudi Arabia is a straightforward process. Here is a step-by-step guide on how to buy Bitcoin in Saudi Arabia.
Step 1: Open an Account With a Crypto Exchange
The first step is to open an account with a cryptocurrency exchange. You’ll have to submit your contact details before you’re allowed to choose a username and password.
Step 2: Verify Your Trading Account
The second step is the verification process. Most Saudi Arabian exchanges have a fast way to confirm your identity. You’ll have to offer a copy of your ID, passport, or driver’s license. Some exchanges request proof of address.
Step 3: Deposit Funds
Saudi Arabian traders have access to many funding options depending on the exchange they choose. Choose the funding solution that meets your needs. After you fund your account, the next step is to buy Bitcoin.
Step 4: Buy Cryptocurrency
Use the funds in your trading account to buy Cryptocurrency. Bitcoin is available under the ticker symbol BTC. Select it and set up your trade. Choose the amount of BTC you’d like to purchase and click “Submit.” Your transaction will finish in a couple of minutes.
How To Sell Cryptocurrency?
Selling cryptocurrencies is a simple process. Use your crypto wallet to choose the amount you want to sell. Keep in mind that crypto profits are taxable capital gains. It is best to discuss with a tax professional before you sell a significant amount of digital assets.
Should I Buy Cryptocurrencies?
Cryptocurrencies are easy to trade and a great option for beginners to start out. The market is volatile and this is why we recommend beginners to start investing small amounts in bigger and stable coins like Bitcoin, Ethereum and Ripple.
Our guide on how to buy bitcoin in UAE
eToro, OKX, BitOasis, Binance, and ByBit are the best cryptocurrency exchanges in Saudi Arabia. Bitcoin Era is our top choice as it offers the best platforms and tools for Saudi Arabian traders. Rain is the best Bitcoin exchange for beginner traders. We recommend BitOasis for traders looking forward to low Bitcoin trading fees.
Which Is The Best Crypto Exchange In Saudi Arabia?
The best crypto exchange in Saudi Arabia is Bitcoin Era. It has premium services and trading tools. Bitcoin Era has beginner-friendly services for Saudi Arabian traders.
How Much Bitcoin Should I Buy With My First Transaction?
It depends on your Bitcoin trading experience. It is best to follow the minimum deposit requirements and test the platform. After you learn more about cryptocurrency markets, you will be able to increase your investment.
What Is A Centralized Cryptocurrency Exchange?
A centralized exchange is a private provider that provides a platform for investing in digital currencies. These exchanges require registration, known as the “Know Your Client” rule. Read our in-depth reviews to learn about the best exchanges in Saudi Arabia.
What Is A Decentralized Cryptocurrency Exchange?
A decentralized exchange isn’t obligated to follow any rules of any regulatory body. It functions as a single service or website, but the “servers” across thousands of computers worldwide. If you opt for a decentralized exchange, you should learn about the risks associated with it.
Are Bitcoin Exchanges Safe In Saudi Arabia?
You should invest in Bitcoin with trustworthy and secure crypto exchanges. We recommend you use platforms like eToro. It is one of the safest exchanges to invest in in Saudi Arabia.
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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. 68% 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. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.