Home How To Buy How to Buy Bitcoin in Kuwait

How to Buy Bitcoin in Kuwait

120
0
Regal Wallet Banner

Bitcoin is the biggest and most popular cryptocurrency in the whole world, and you can legally buy it if you’re from Kuwait. Its popularity is increasing there as more and more people are investing in Bitcoin.

If you also want to buy Bitcoin in Kuwait, using a regulated online broker is your best bet. In this article, we’ll discuss easy and quick ways to buy Bitcoin in Kuwait.

List Of The Best Exchanges To Buy Bitcoin in Kuwait: 

  • eToro – Best overall broker
  • Alvexo – Best for short therm traders
  • Capital.com – Trading without any commision
RANKBROKERGENERALPLATFORM SCOREBEST FORWEBSITE
#1eToroExcellent social trading features4.9 / 5Best overall brokerOfficial website
#2AlvexoTrade multiple cryptocurrencies without taking their ownership3.3 / 5Best for short term tradersOfficial website
#3Capital.comNo withdrawal or deposit fee and offers tight spreads4.7 / 5You can trade without paying any commission.Official website

Best Exchanges To Buy Bitcoin in Kuwait in Overview:

01. eToro: Best Broker To Buy Bitcoin in Kuwait

etoro-rating

If you’re looking for a simple, quick, and cost-effective way to buy Bitcoin in Kuwait, there is no better option than eToro. It’s a trusted and fully regulated online broker that you can use to create your trading account within minutes.
As a resident of Kuwait, you’ll need to deposit $1,000 to meet the minimum deposit requirement. On this platform, you can use e-wallets, credit cards, debit cards, and bank wires to send money to your account. It comes with a very low minimum purchase requirement, and you can buy just $10 worth of Bitcoin if you want, and there is no fee to deposit funds.

While trading Bitcoin or any other digital currency in Kuwait, you’ll need to pay a 0.75% spread. eToro supports more than 40 digital currencies, including Bitcoin, Ethereum, Litecoin, XRP, and Dogecoin.

The platform allows you to invest your money in crypto baskets managed by the eToro team to diversify your portfolio. You can also use eToro to perform copy-trading with a minimum investment of $1,000.


02. Alvexo: Best Broker for Short-Term Traders

alvexo-rating

You can use a trusted and regulated CFD broker if you’re interested in short-term trading. 

Alvexo is one such example that allows you to perform Bitcoin trading in Kuwait. Other than Bitcoin, Alvexo also supports other popular digital currencies such as Litecoin and Ethereum, and you can trade them without taking their ownership.

It allows you to trade Bitcoin in Kuwait against Litecoin, Ethereum, euro, and US dollar. You can enter a supported market with a sell order on this platform to trade Bitcoin, and it’s also possible to apply leverage to your orders. Creating your trading account on this broker will provide you with access to contracts for differences in forex, indices, stocks, and commodities.


03. Capital.com: Broker With High Safety Measures

capital-com-rating

You can use Capital.com if you want to trade Bitcoin with leverage. It’s another trusted online CFD broker that’s regulated by NBRB, FCA, ASIC, and CySEC. On this platform, you’ll have a secure and safe environment to participate in Bitcoin CFDs trading in Kuwait.
The best feature of this online broker is that it doesn’t charge any commission. Along with tight spreads, you also don’t need to pay any withdrawal or deposit fee to trade any supported market. The minimum deposit requirement of Capital.com is just $20 if you add funds using credit/debit cards or e-wallets. 

On the other hand, the minimum deposit requirement is $250 if you use bank wires to add money to your account.

You can use both buy and sell orders to enter any supported market on Capital.com to start Bitcoin trading in Kuwait. The broker also offers a smartphone app for both Android and iOS that you can use to maintain your trading account on the go.


How to Buy Bitcoin in Kuwait – Quick Steps

You can use the following quick steps to buy Bitcoin in Kuwait through eToro whether you’re a beginner or planning to start your trading journey,

Step 1: Register Your Trading Account on eToro
First, you need to go to the official eToro website to register your trading account. It’s a regulated and trusted online broker that offers exchange and brokerage services. You’ll need to enter your personal details like contact number, full name, and email address to complete the account registration process. Providing eToro with your proof of identity is also necessary to start buying Bitcoin in Kuwait.

Step 2: Deposit Funds
The next step is to deposit funds to your verified eToro account. You can use debit cards, credit cards, bank transfers, and e-wallets like PayPal to add money to your eToro account. According to eToro rules, all Kuwaiti users need to deposit $1,000 in their account to start buying Bitcoin.

Step 3: Buy Bitcoin
Once you have deposited funds to your account, you need to search for Bitcoin by entering “BTC” in the search bar. 
You’ll see Bitcoin along with a “Trade” button in the dropdown. After clicking on this button, you’ll need to enter the desired amount of money and select the “Open Trade” button to complete the process.

Important Note: The minimum purchase limit to buy Bitcoin on eToro in Kuwait is $10.

Step 4: Store Your Bitcoin
Storing your Bitcoin bought from eToro in a crypto wallet is recommended to keep them safe and secure. It’ll also provide you with full control over your Bitcoin tokens.

The following section contains more information on the process of buying Bitcoin in Kuwait.

Where to Buy Bitcoin in Kuwait?

We have selected only the best brokers to buy Bitcoin in Kuwait in the sections listed below…

eToro – Ideal Way to Buy Bitcoin in Kuwait
If you’re looking for a simple, quick, and cost-effective way to buy Bitcoin in Kuwait, there is no better option than eToro. It’s a trusted and fully regulated online broker that you can use to create your trading account within minutes.

As a resident of Kuwait, you’ll need to deposit $1,000 to meet the minimum deposit requirement. On this platform, you can use e-wallets, credit cards, debit cards, and bank wires to send money to your account. It comes with a very low minimum purchase requirement, and you can buy just $10 worth of Bitcoin if you want, and there is no fee to deposit funds.

While trading Bitcoin or any other digital currency in Kuwait, you’ll need to pay a 0.75% spread. eToro supports more than 40 digital currencies, including Bitcoin, Ethereum, Litecoin, XRP, and Dogecoin.

The platform allows you to invest your money in crypto baskets managed by the eToro team to diversify your portfolio. You can also use eToro to perform copy-trading with a minimum investment of $1,000.

Alvexo – CFD Broker Bitcoin Trading in Kuwait
You can use a trusted and regulated CFD broker if you’re interested in short-term trading. 

Alvexo is one such example that allows you to perform Bitcoin trading in Kuwait. Other than Bitcoin, Alvexo also supports other popular digital currencies such as Litecoin and Ethereum, and you can trade them without taking their ownership.

It allows you to trade Bitcoin in Kuwait against Litecoin, Ethereum, euro, and US dollar. You can enter a supported market with a sell order on this platform to trade Bitcoin, and it’s also possible to apply leverage to your orders. Creating your trading account on this broker will provide you with access to contracts for differences in forex, indices, stocks, and commodities.

Capital.com – Leveraged Bitcoin Trading with CFD Broker
You can use Capital.com if you want to trade Bitcoin with leverage. It’s another trusted online CFD broker that’s regulated by NBRB, FCA, ASIC, and CySEC. On this platform, you’ll have a secure and safe environment to participate in Bitcoin CFDs trading in Kuwait.

The best feature of this online broker is that it doesn’t charge any commission. Along with tight spreads, you also don’t need to pay any withdrawal or deposit fee to trade any supported market. The minimum deposit requirement of Capital.com is just $20 if you add funds using credit/debit cards or e-wallets. 

On the other hand, the minimum deposit requirement is $250 if you use bank wires to add money to your account.

You can use both buy and sell orders to enter any supported market on Capital.com to start Bitcoin trading in Kuwait. The broker also offers a smartphone app for both Android and iOS that you can use to maintain your trading account on the go.

Different Ways of Buying Bitcoin in Kuwait

For buying Bitcoin in Kuwait, you can use multiple methods where each method has different fees and transaction processing time. We have selected the best ones and listed them in the following section.

Buy Bitcoin with PayPal
PayPal is a reliable, quick, and secure way to send money to your trading account if you want to buy Bitcoin in Kuwait. You can use PayPal to send funds to your eToro trading account by paying just a 0.5% fee. 

Bear in mind that the minimum deposit requirement of eToro is $1,000 for all traders residing in Kuwait.

Buy Bitcoin with Credit Card
There are online brokers and exchanges that allow you to buy Bitcoin using credit cards, and they use third-party services to process payments. Simplex is one such third-party payment processing service that charges up to a 10% fee.

You can also use Coinbase to buy Bitcoin in Kuwait by sending funds through a credit card, but it’ll charge a 4% commission. Using eToro is the best way to avoid a high payment processing fee because it only charges 0.5% of the total amount of funds you send to your account via credit card.

Buy Bitcoin with Neteller or Skrill
You can use e-wallets such as Skrill and Neteller to buy Bitcoin in Kuwait. These are low-cost services that process your transactions quickly in a secure way just like PayPal. You can use these services to add funds to your eToro account by paying just a 0.5% transfer fee.

Buy Bitcoin with Cash
Buying Bitcoin in Kuwait directly with cash is also possible, but it’s not a hassle-free method. You’ll need to find a person selling Bitcoin tokens locally and give them cash to buy the desired number of coins.

Should I Buy Bitcoin in Kuwait

By buying Bitcoin in Kuwait, read and understand the following factors. Digital currencies are volatile assets, and understanding their pros and cons is important.

Continues to Outperform the Stock Markets

The returns traders get from the traditional stock market are very low as compared to returns that crypto offers. 

For instance, the value of NYSE Arca Tech has grown by 150%, and the price of the NYSE Composite has increased by just 52% in the last 5 years. On the other hand, Bitcoin has increased its value by a staggering 4,200% in the same amount of time.

COVID and Inflation

The overall value of the traditional stock market has been affected greatly due to the COVID-19 pandemic. There are stocks that still haven’t recovered their pre-COVID-19 value. The increased levels of inflation have also impacted the traditional stock market.

But the value of Bitcoin has shown the opposite trend. One Bitcoin token was worth $6,000 when the pandemic started, and within one year, the value of one Bitcoin token increased to $68,000. Hence, investing in Bitcoin is a suitable way to protect your capital as inflation and pandemic didn’t affect it negatively.

Small Outlay Requirement

Another great benefit of investing in Bitcoin in Kuwait is that it comes with a small outlay requirement. 

The minimum purchase requirement per trade on eToro to buy Bitcoin in Kuwait is only $10. The small outlay requirement also comes in handy if you just want to observe the market trend of cryptocurrency without risking a big amount of money.

Bitcoin Price

In January 2022, the Bitcoin price decreased to $35,000, but now it’s again on the bull run. At the time of writing, the price of one Bitcoin token is over $39,000, and it’s expected that it’ll continue increasing throughout the year.

There are hundreds of online exchanges and brokers that people use to buy and trade digital currency, including Bitcoin. The selling and buying trends of Bitcoin determine its price, just like traditional stocks. It means if more people invest their money to buy Bitcoin, its value will increase, and if more people sell bitcoin, the value will decrease.

Both online crypto exchanges and brokers quote and trade cryptocurrencies in US dollars, similar to gas and oil. If you want to add funds to your eToro trading account, you can use Kuwaiti dinars, and the broker will automatically convert your money to US dollars.

Bitcoin Price Prediction

The value of one Bitcoin token can exceed $100,000 in 2022. But there are also estimates suggesting that the cryptocurrency is going to experience a prolonged bearish trend. 

There are multiple viewpoints, and that’s why we recommend you avoid Bitcoin price prediction and perform your own research.

How to Buy Bitcoin in Kuwait – Tutorial

The following step-by-step process will help you understand a quick and easy way to buy Bitcoin in Kuwait.

Step 1: Open a Trading Account
Open your trading account on eToro by going to the broker’s official website. On the sign-up page, you’ll need to enter your personal details including contact number, full name, and email address. You’ll also need to choose your desired username and a strong password.

how-to-buy-bitcoin-in-kuwait

Step 2: Verify Identity
The next step is to verify your identity by providing a copy of your driver’s license or passport. eToro needs proof of identity to comply with the anti-money laundering laws. Once you have verified your identity, the broker will remove the money deposit restrictions from your trading account.

Step 3: Deposit Funds
eToro requires residents of Kuwait to deposit $1,000 to meet the minimum deposit requirements. You can use bank wires, credit/debit cards, and e-wallets such as PayPal, Skrill, Neteller to deposit money to your eToro account.

Step 4: Buy Bitcoin
Once you have funds in your account, write “BTC” in the search bar and click on the “Trade” button that appears next to Bitcoin from the dropdown list. Enter the desired amount of money which must be at least $10, and click on the “Open Trade” button to complete the Bitcoin buying process.

buy-bitcoin-in-kuwait

Conclusion

This guide will help you understand the importance of using a regular online broker to complete your Bitcoin buying process in Kuwait.

eToro is a licensed online broker where you can buy Bitcoin with the minimum purchase requirement of only $10. It’s also the cheapest broker that only requires you to cover your spread. You should note that Bitcoin is unregulated and highly volatile, making it a risky investment.

FAQs

Is it legal to buy Bitcoin in Kuwait?

Yes, it is legal to buy Bitcoin in Kuwait.

Which Bitcoin wallet is best in Kuwait?

Not only can you use eToro to buy and sell Bitcoin tokens, but it works as a wallet that you can use to store your cryptocurrency.

Which app can I use to buy Bitcoin in Kuwait?

eToro offers a smartphone app for iOS and Android that you can use to buy Bitcoin in Kuwait on the go.

Where can I sell Bitcoin in Kuwait?

Your token will be available in your eToro trading account after buying, and you can easily sell them on the same platform whenever you want.

How do I buy Bitcoin in Kuwait?

You need to create and verify your eToro account and add funds using bank transfers, credit/debit cards, or e-wallets. Once you have funds, you need to search BTC, enter the desired amount of money, and click on the “Open Trade” button to buy Bitcoin in Kuwait.

How to trade Bitcoin with leverage?

You can use eToro and Capital.com to buy Bitcoin in Kuwait with leverage. Both of them are reliable online brokers that offer a safe and secure trading environment.

How to invest in Bitcoin in Kuwait?

You can use your eToro account to invest in Bitcoin in Kuwait. This broker allows you to have ownership of your Bitcoin, unlike Capital.com and Alvexo, where you can only trade Bitcoin with virtual contracts.

How to purchase Bitcoin in Kuwaiti dinars?

Using the desired payment method, you can add your Kuwaiti dinars to your eToro account. eToro will automatically convert your Kuwaiti dinars to US dollars once the transaction is completed.


If you liked this article then also read:
How to buy Bitcoin in UAE and Dubai
How to buy Bitcoin in Oman
How to buy Bitcoin in Jordan
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

Methodology
Business24-7 aims to help those interested in cryptocurrency make safe and informed investing decisions. We are dedicated to offering our readers unbiased reviews of leading cryptocurrency exchanges for traders at all levels. Cryptocurrency exchanges are included in our reviews if they are safe, liquid, regulated by proper authority, or decentralized. 

Disclaimer
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.

Previous articleHow to Buy Bitcoin in Jordan
Next articleWhat is Bitcoin?
Stefan Grasic (Dipl.-Jur) is the World Wide Director of research for Buisness24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active Crypto, Forex and general investment researcher advising blockchain companies at their start up level. He keeps fit by mountain biking, surfing, skiing and lots of other adrenaline sports.

LEAVE A REPLY

Please enter your comment!
Please enter your name here