How to Buy Bitcoin in UAE



by

January 13, 2022

Bitcoin is one of the most popular and trusted cryptocurrency in the global crypto market

If you’re based in the United Arab Emirates and wish to buy Bitcoin in safety – it’s best to do so with a regulated online broker that offers low fees.

In this beginner’s guide, we explain the step-by-step process of how to buy Bitcoin in the UAE in under 10 minutes.

 

How to Buy Bitcoin in UAE – Quick Steps

To buy Bitcoin in the UAE right now – the steps below will show you how to complete the process on a spread-only basis at eToro.

Buy bitcoin in UAE

  • Step 1: Join eToro – You will first need to register an account with eToro. You can do this by supplying the broker with some information about who you are.
  • Step 2: Deposit Funds – The next step is to deposit some funds. The minimum at eToro for those based in the UAE is $50. You can choose from a debit/credit card or an e-wallet to benefit from an instantly processed payment.
  • Step 3: Search for Bitcoin – By entering ‘BTC’ into the search box, Bitcoin will appear. Click ‘Trade’ to load an order box.
  • Step 4: Buy Bitcoin in UAE – The final step is to enter your required investment amount. The minimum amount of Bitcoin you can buy is just $10 at eToro. Click ‘Open Trade’ to place your Bitcoin order.

If you’ve never bought Bitcoin in the UAE before, scroll down to read our more detailed guide on the process.

>>> Buy Bitcoin in UAE Now <<<

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.


 

Where to Buy Bitcoin in UAE

You will need to have an account with an online broker to buy Bitcoin in the UAE.

There are plenty of options in this marketplace, albeit, the best places to buy Bitcoin are reviewed in the sections below.

 

1. eToro – Overall Best Place to Buy Bitcoin in UAE

Dogecoin 2022

If you’re looking at how to buy Bitcoin in the UAE in a low-cost and simple manner – eToro is the best broker for the job. This online broker allows you to open an account in a matter of minutes and the minimum deposit requirement is just $50. Supported payment methods available at eToro include online banking, e-wallets like Paypal, and debit/credit cards.

You can buy Bitcoin in the UAE via eToro at a minimum purchase requirement of just $10. In terms of pricing, AED deposits will cost you just 0.5% across all supported payment methods. eToro only charges the spread when you trade digital currencies, and this starts from a very competitive 0.75%.

If you’re thinking about buying other digital currencies – such as Ethereum, XRP, Dogecoin, or Litecoin, eToro hosts more than 43 tokens. You can also invest in CryptoPortfolios – which are baskets of digital currencies that are managed by the eToro team. Copy Trading is also supported at eToro at a minimum investment of just $200.

>>> Buy Bitcoin in UAE on eToro Now <<<

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

 

2. Alvexo – Trade Bitcoin in the UAE via a CFD Broker

If you see yourself as more of a short-term trader, you might want to consider a regulated CFD broker like Alvexo. This popular platform allows you to trade Bitcoin and other digital currencies without taking ownership of any tokens. Bitcoin can be traded against the US dollar, euro, Ethereum, and Litecoin.

In trading Bitcoin CFDs at Alvexo, you will be able to apply leverage to your position. You will also have the option of entering the market with a sell order – meaning that you short Bitcoin if you think its price will decline. Alvexo also gives you access to CFDs in the form of stocks, indices, commodities, and forex.

 

3. Capital.com – CFD Broker Offering Leveraged Bitcoin Markets

 

Another CFD broker to consider is Capital.com. This popular trading platform is regulated by the FCA, CySEC, NBRB, and ASIC. As such, you can trade Bitcoin CFDs here in safety. All supported markets at Capital.com can be traded commission-free. Spreads are tight and no fees apply to deposits or withdrawals.

When depositing funds with a debit/credit card or e-wallet, the minimum requirement is just $20. Bank wires, on the other hand, require a minimum outlay of $250. You can trade Bitcoin here with leverage and choose to enter the market with a buy or sell order. Capital.com also offers a trading app for iOS and Android which allows you to trade Bitcoin on the move.

>>> Trade Bitcoin in UAE on Capital.com Now <<<

Your capital is at risk.

 

Ways of Buying Bitcoin in UAE

You can buy Bitcoin in the UAE in several different ways. Each payment method typically comes with its own processing times and fees.

As such, in the sections below, we explore the best ways to buy Bitcoin in the UAE right now.

 

Buy Bitcoin With PayPal

Paypal is often a popular choice for those looking at how to buy Bitcoin in the UAE. This is because Paypal transactions add an additional layer of security onto Bitcoin purchases.

The process is very similar to the process you’d undergo if you wanted to buy Bitcoin in the UK.

The best broker to buy BTC in the UAE with Paypal is eToro – not least because you will only be charged 0.5%.

We should also note that eToro requires a minimum deposit of just $50 when you use Paypal to deposit funds.

 

Buy Bitcoin With Credit Card

Some investors are put off by the high fees that cryptocurrency brokers charge on credit and debit card deposits.

For example, some platforms rely on a third-party payment processor like Simplex – which charges up to 10%. Coinbase directly accepts credit and debit cards, but a commission of almost 4% applies.

If you’re wondering how to buy Bitcoin in the UAE with a debit or credit card in a low-cost manner – eToro charges just 0.5% of the purchase amount.

 

Buy Bitcoin With Neteller or Skrill

Another option when learning how to buy Bitcoin in the UAE is via Neteller or Skrill. Just like Paypal, these e-wallets offer enhanced security on your transactions. The payment will be processed instantly and a fee of just 0.5% applies.

>>> Buy Bitcoin in UAE Now <<<

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

 

Should I Buy Bitcoin in UAE

If you’re an investor that is looking to purchase Bitcoin in the UAE for the first time, you should consider both the pros and cons that this digital currency offers.

In the sections below, we explore some of the key considerations that need to be made when learning how to buy Bitcoin in the UAE.

 

Continues to Outperform the Stock Markets

Many investors are somewhat dissatisfied with the returns being offered by the traditional stock markets. For example, over the prior five years, the NYSE Composite has grown by 52%, while the NYSE Arca Tech 100 has increased by almost 150%.

In comparison, over the same 5-year period, Bitcoin has increased in value by over 4,200%. As such, had you invested just $1,000 into Bitcoin in early 2017, your portfolio would be worth over $42,000 today.

 

COVID and Inflation

In the midst of the pandemic in March 2020, the stock markets crashed by a significant amount. Moving into 2022 and some stocks are yet to recover back to pre-COVID levels.

Plus, inflation levels are at record highs – not least because of COVID-related stimulus packages being implemented by central banks.

With that said, although Bitcoin was worth just $6,000 per token in March 2020, the digital token surpassed highs of over $68,000 in the following year. As such, Bitcoin could be a great way to hedge against stalling stock prices and rising inflation.

 

Small Outlay Requirement

Another benefit of this digital currency is that you can now buy Bitcoin in the UAE with a small amount of capital.

This is especially the case when using a regulated broker like eToro – which requires a minimum investment of just $10 per trade.

This means that you can gain exposure to a highly speculative and volatile asset class in a risk-averse manner.

>>> Buy Bitcoin in UAE Now <<<

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

 

Bitcoin Price

Bitcoin is traded across hundreds of online exchanges and as such – its price is determined by market forces. This is no different from the conventional stock markets – whereby share prices increase when there are more people buying than selling.

As you likely know, the Bitcoin price is quoted and traded in US dollars across most platforms – just like oil and natural gas. You can, however, deposit in AED at eToro at a small fee of just 0.5% – and the funds will instantly be converted to US dollars.

At the time of writing, bullish CPI news has resulted in a 5% pump in the Bitcoin price, pushing it back over $43,000. The price may have potentially found a bottom and be about to resume the bull market in 2022, meaning Bitcoin is a good investment at the current time.

 

Bitcoin Price Prediction

Many proponents of Bitcoin still argue that the digital currency is likely to surpass $100,000 per token by the end of 2022.

However, you can just as easily find Bitcoin price predictions that argue the contrary – with some commentators hypothesizing that BTC is due to enter a prolonged bearish cycle.

All in all, with such contrasting viewpoints available in the public domain – it’s best to avoid Bitcoin price predictions and instead does your own research.

 

How to Buy Bitcoin in UAE – Tutorial

If you’re new to the world of cryptocurrency trading and need a little guidance – we will now show you how to buy Bitcoin in the UAE with eToro.

 

Step 1: Open an eToro Account

First and foremost, head over to the eToro website and elect to open an account. This will require some personal information from you – alongside your preferred username and password.

You also need to enter some contact details – such as your email address and cell phone number.

 

Step 2: KYC

As per anti-money laundering laws, eToro will also need to collect a copy of your passport or driver’s license. This will ensure that your account is verified and thus – all deposit restrictions will be removed.

 

Step 3: Deposit Money

Those based in the UAE are required to meet a minimum deposit of $50 at eToro. You can choose from a debit or credit card, Paypal, Skrill, Neteller, or a bank wire.

 

Step 4: Search for Bitcoin

You can now buy Bitcoin in the UAE by entering ‘BTC’ into the search box.

Then, click on ‘Open Trade’.

 

Step 5: Buy Bitcoin in UAE

Enter your required investment amount in the relevant box. The minimum amount of Bitcoin that you can buy at eToro is $10.

Finally, to place your order, click on the ‘Open Trade’ button.

>>> Buy Bitcoin in UAE Now <<<

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

 

Conclusion

This guide on how to buy Bitcoin in the UAE has explained the importance of completing the process with a regulated broker.

We found that eToro is the best platform to buy Bitcoin online – as the licensed provider requires a minimum stake of just $10.

eToro also came out as the cheapest place to buy Bitcoin – with the broker only requiring you to cover the spread.

>>> Buy Bitcoin in UAE on eToro <<<

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. Your capital is at risk. Additionally, 68% 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.

 

FAQs

Is it legal to buy Bitcoin in UAE?

Yes, you can legally buy and sell Bitcoin in the UAE.

 

Which Bitcoin wallet is best in UAE?

eToro doubles up as a top-rated Bitcoin broker and wallet. As such, you can facilitate all of your Bitcoin investment needs through a single hub.

 

Which app can I use to buy Bitcoin in Dubai?

If you’re wondering how to buy Bitcoin on your phone – the eToro app is compatible with both iOS and Android devices.

 

Where can I sell Bitcoin in UAE?

If you purchased Bitcoin from eToro, the tokens will remain in your portfolio until you decide to sell. As such, when thinking about how to buy and sell Bitcoin, you can do this at eToro on a 24-hour basis.

 

How do I buy Bitcoin in United Arab Emirates?

To buy Bitcoin in under five minutes, open an account with eToro and make a deposit, before searching for ‘BTC’. Finally, choose your investment amount and click on ‘Open Trade’ to complete the order.

 

How to trade Bitcoin with leverage?

You can trade Bitcoin with leverage via a regulated CFD broker like eToro or Capital.com.

 

How to Invest in Bitcoin in UAE?

You can invest in Bitcoin or buy cryptocurrency through a regulated broker like eToro. Unlike Capital, on eToro you actually buy and own the underlying asset, not just virtual contracts (CFDs).

 

How to purchase Bitcoin in AED?

You can deposit AED with eToro at a fee of 0.5% – and the funds will be converted to USD. You can then proceed to buy Bitcoin.