Page Summary
Bitcoin (BTC) is the leading cryptocurrency on the market, with a market cap of $1.1 trillion. It has been available in Bahrain since 2013, and its popularity is growing on a daily basis. The Central Bank of Egypt (CBE) monitors Bitcoin’s activity and regulation in Egypt. Buying, selling and holding Bitcoin in Egypt is legal.
This article discusses how to buy Bitcoin in Egypt step by step through a regulated crypto exchange or broker.
How To Buy Bitcoin In Bahrain – Quick Steps
New users need to follow the steps below to learn how to buy Bitcoin in Egypt through a crypto exchange or broker.
- Step 1: Open a Trading Account at eToro – We recommend opening a trading account with eToro, who offers crypto brokerage and exchange services for investors looking to buy Bitcoin in Egypt. Account opening is fast, easy and starts at $200 minimum deposit.
- Step 2: Upload Your ID – Upload a copy of your government issued ID and proof of address in order to comply with eToro KYC (know your customer) requirements.
- Step 3: Deposit Money – The minimum deposit to open an account at eToro for Egypt residents is $200. Users can choose between credit card, debit card and bank transfer options.
- Step 4: Buy Bitcoin in Bahrain – To buy Bitcoin you will first need to find it in the search box, click on the trade button to open an order file, enter the requested amount and finalise the purchase by clicking on “Open Trade”.
- Step 5: Store Bitcoin in your e-wallet – After you purchase Bitcoin we recommend to store it in a e-wallet. It ensures that only you have access and control over your funds with a private key.
Best Crypto Exchange to Buy Bitcoin in Bahrain
- eToro – Best overall broker for Bitcoin and other crypto assets
- AVAtrade – best broker to buy BTC as CFD’s
- IQ Option – Great all round offering and most crypto assets
- Saxo Bank – Best trading platform for Bitcoin trading
| RANK | BROKER | GENERAL | PLATFORM SCORE | BEST FOR | WEBSITE |
|---|---|---|---|---|---|
| #1 | eToro | Best overall broker for Bitcoin and other crypto assets | 4,9/5 | Excellent social trading features | Official website |
| #2 | AVAtrade | Advanced copy trading features | 4,9/5 | Best broker to buy BTC as CFD’s | Official website |
| #3 | IQ Option | Easy-to-use platform | 3,3/5 | Great all round offering and most crypto assets | Official website |
| #4 | Saxo Bank | Minimum deposit is $2.000 | 4,9/5 | Best trading platform for Bitcoin trading | Official website |
Below we break down the best crypto trading platforms for Bitcoin in Bahrain, beginning with the best rated eToro.
1. eToro – Best Overall Broker To Buy Bitcoin In Bahrain
Min Deposit: $200
Fees: 4.8
Assets available: 4.8
Total Fees:
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
You can buy Bitcoin in Bahrain with eToro for as little as $10 minimum trade requirement. AED deposits will cost you 0.5% on all supported payments including Paypal and you will need to deposit a minimum amount of $200 to open an account. eToro charges a competitive 0.75% spread fee on all Bitcoin trades.
You can open a trading account at eToro online or via the iOS and Android mobile app – both options offer a great user experience. Once your account is up and running, you will be able to buy Bitcoin instantly with your Bahrain credit or debit card.
2. AVAtrade – Best Broker to Buy Bitcoin as CFD’s
Min Deposit: $100
Fees: 4.9
Assets available: 4.9
Total Fees: 0.9 pip
AVAtrade is the best crypto broker to buy Bitcoin through CFD’s. They provide several online trading platforms and an advanced copy trading features for cryptocurrency trading. Deposits and withdrawals are free of charge. The minimum deposit is $100. There are fees for inactivity and overnight financing.
3. IQ Option – Great Place to Buy Bitcoin as a Beginner
Min Deposit: $10
Fees: 3.3
Assets available: 2.0
Total Fees:
You can buy Bitcoin here with an Bahrain debit or credit card at a spread fee of 3.6%. You can also transfer money directly from your Bahrain bank account for free and pay and trading fee of 1.5% to buy Bitcoin. This is way more expensive compared to the 0.5% charged by eToro.
IQ Option is a great platform for traders looking to invest in cryptos on a feature-rich and easy-to-use platform.The trading experience on their proprietary web, desktop, and mobile platforms is smooth. It is an easy to learn and navigate platform suitable for beginning traders.
4. Saxo Bank – Best Broker To Buy Bitcoin as ETF’s and ETN’s
Min Deposit: $2000
Fees: 4.7
Assets available: 4.9
Total Fees:
69% of retail investor accounts lose money when trading CFDs with this provider.
Saxo Bank is the best online broker to buy cryptos as ETF’s or ETN’s at a fixed fee of 0.10%. Users will be able to trade on the award winning platform SaxoTraderGO which offers 9 leveraged Crypto FX pairs and over than 60 exchange traded products. The minimum deposit is $2.000, what is above industry average
Different Ways To Buy Bitcoin in Bahrain
This section reveals different payment methods Bahrain users can use to buy Bitcoin.
Buy Bitcoin With Cash or Cash Deposit
Bahrain citizens can easily buy Bitcoin for cash by using a Bitcoin ATM. Once you insert cash into the machine and use it to buy Bitcoin, the purchase will be directly stored in your e-wallet. Buying Bitcoin for cash comes at an extra cost of 6-12%, but gets you the cryptocurrency quick, easy and fully discrete.
Buy Bitcoin With Credit or Debit Card
Credit and debit cards are the fastest and easiest ways to buy Bitcoin when used with eToro. In terms of pricing, eToro charges 0.5% on all credit and debit card deposits in AED and a spread fee of 0.75% on all cryptocurrency trades. The minimum required purchase amount is $10.
Buy Bitcoin With Paypal
To buy Bitcoin with a Paypal account you need to open an account, link it with preferred payment options, click on the “crypto” button at the top and choose the amount of Bitcoin you want to purchase. Paypall allows you to buy Bitcoin for as low as $1 at a purchase fee of 0.5%
Buy Bitcoin Through P2P exchanges
Buying Bitcoin through P2P exchanges is fast and simple. After you set up an account, users request to buy/sell Bitcoin. They check the listings and select the trade partners with whom they wish to transact. P2P exchanges don’t come with the anonymity that other exchanges provide. The advantage of P2P is that users search for the best deal.
How To Buy Bitcoin and Cryptocurrency With eToro?
Follow the steps below to learn exactly how to buy Bitcoin via eToro:
STEP 1: Go to the eToro official website
Click on link to the eToro crypto section here: https://www.etoro.com/crypto/
STEP 2: Click on the green “Get Started” Button
STEP 3: Create and Verify Your Account
To buy BTC through eToro you need to sign up, verify your account and make a first time deposit. This will enable you to buy, hold and sell BTC and other cryptocurrencies.
STEP 4: Buy Bitcoin (BTC)
You can buy, hold and sell fractions of Bitcoin. To own BTC you don’t need to buy a full Bitcoin. The same goes for all cryptocurrencies.
Is Bitcoin Legal In Bahrain?
Based on the directive issued by The Central Bank Of Bahrain, all transactions in Bitcoin and other cryptocurrencies are prohibited and therefore Bitcoin is Illegal in Bahrain. Bahrain citizens can buy, sell, and hold Bitcoin through cryptocurrency exchanges licensed by the Central Bank of Bahrain.
The Regulation of Bitcoin in Bahrain
The Central Bank of Bahrain (CBB) is the main regulatory body for Bitcoin and cryptocurrencies in Bahrain. In order to get a license from the CBB, an exchange needs to ensure minimum capital requirements and technology standards, strict client safety and cyber security protocols, reporting and data safety standards.
Summary
We recommend eToro as the best cryptocurrency exchange and broker to buy Bitcoin in Bahrain. They have excellent reputation and provide world-class BTC trading services for Bahrain residents. eToro has zero hidden fees, zero commission, great copy trading tools and a trading platform for traders of all levels of experience.
BitOasis is a leading digital currency exchange that supports Bitcoin trading in Bahrain. If you want to buy Bitcoin as CFD we recommend to use XTB broker.
FAQ
Should I buy Bitcoin through PayPal In Bahrain?
We do not recommend buying Bitcoin through PayPal because Bitcoin bought on PayPal cannot be transferred out of PayPal in any way. This restriction means that PayPal owns your Bitcoin, not you.
Which is the Simplest Way to Create a Bitcoin Wallet?
To open a Bitcoin wallet you need to:
– Choose an exchange account to buy/sell cryptocurrency;
– Choose a hot wallet if you want to hold small to medium amounts of crypto coins;
– Choose a cold wallet for larger holdings and long-term purposes.
How Much Does it Cost to Trade Bitcoin in Bahrain?
Fees for trading Bitcoin vary and might become high across various websites and unregulated exchanges. Bitcoin trading fees start from 0.002% and might reach up to 2% of the trade value.
If you liked this article then also read:
How to buy Bitcoin in UAE and Dubai
How to buy Bitcoin in Jordan
How to buy Bitcoin in Kuwait
How to buy Bitcoin In Pakistan
How to buy Bitcoin in Saudi Arabia
How to buy Bitcoin in Israel
How to buy Bitcoin in Morocco
Disclaimer
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.