A guide to buying Bitcoin and other cryptocurrencies in Saudia Arabia. Compare the best Bitcoin exchanges as a resident of Saudi Arabia to get started.
Buying Bitcoin in Saudi Arabia is much easier than many think. It is as simple as picking an exchange, creating an account, depositing money and clicking "buy Bitcoin".
Review and compare the best cryptocurrency exchanges below to find the fastest and most secure way to make your first Bitcoin purchase in Saudi Arabia. Buy Bitcoin Finder gives order placement preference to exchanges located in Saudi Arabia, or exchanges that enable the smoothest verification for citizens of Saudi Arabia.
Rain's platform is simple to use and enables its users to buy, sell and trade cryptocurrencies securely through the website or mobile application.
They are a good local option for users looking to buy Bitcoin on a local exchange.
Coinmama allows users from any country around the world to buy Bitcoin, Ethereum and Chainlink using their exchange. They are one of the few exchanges that allow Credit Card and Debit Card purchased for Bitcoin and crypto using Visa and Mastercard.
If you are a customer in Europe, you can also buy Bitcoin with a SEPA transfer for a lower fee. Coinmama is an extremely private and secure option to invest in Bitcoin as they will send it to your personal Bitcoin wallet, as opposed to having the Bitcoin or cryptocurrency on a managed and less secure wallet on their platform.
Local Bitcoins is a decentralized exchange that acts as an escrow service to facilitate peer to peer buys and sells of Bitcoin by allowing users to list their own Bitcoin advertisements or trades.
Users can choose to meet and pay in person or online, making Local Bitcoins the most private way to buy Bitcoin. Local Bitcoins facilitates transactions in Australia, New Zealand, United Kingdom, United States, South Africa and virtually every other country around the world.
eToro is a world renown multi-asset brokerage company that allows users to invest in Bitcoin as well as buy and trade other cryptocurrencies, stocks, ETFs, currencies, indices and commodities.
eToro is a well respected business that is best in class in terms of security and regulation from a global standpoint. eToro is available in most countries around the world including Australia, Canada, United States, United Kingdom, New Zealand and more.
Coindirect is a Bitcoin exchange based in the Isle of Man that allows you to buy and sell over 30 different cryptocurrencies. They offer an easy to use platform that allows you to join and buy Bitcoin 24/7.
Coindirect are available in countries like Australia, United Kingdom, Canada, Lebanon, United States and many more.
Binance has created an industry leading Futures trading platform that allows users to trade Bitcoin, Ethereum, Chainlink and more against Tether (USDT) with up to 125x leverage. You can open a Binance Bitcoin Futures account anywhere around the world in minutes and gain access to deep liquidity, fast execution and an array of different features.
Click this link for an in depth Binance Futures Review.
Binance have the lowest fees for Bitcoin Futures trading and if you sign up through this link, you will get 10% taken off your trading fees.
In the early days, The Kingdom of Saudi Arabia (لمملكة العربية السعودية) and the Saudi Arabian Monetary Authority (SAMA) have issued statements with respect to Bitcoin and cryptocurrencies outlining that they are not explicitly supported within the kingdom and they believe that they are inherently risky.
However more recently, The Kingdom of Saudi Arabia have developed a more welcoming regulatory framework for Bitcoin and cryptocurrencies that has resulted in immense growth of digital assets in the country. Most notably, The Kingdom of Saudi Arabia and the UAE signed a landmark agreement to co-develop a national joint cryptocurrency.
The short answer is yet, Bitcoin is legal in Saudi Arabia. As mentioned above, SAMA have previously issued warnings against Bitcoin and cryptocurrencies due to them being high-risk assets. This ultimately means that investors in Bitcoin and cryptocurrencies do not have any regulatory protections if they lose their assets - however this is the case in most countries.