How To Buy Bitcoin In Saudi Arabia In 2023
Bitcoin is becoming popular all around the world. But still, there are countries where bitcoin buying and selling is still not an easy task.
Saudi Arabia is also on the list of those countries where it is not legal to buy Bitcoin.
However, there are still ways to buy Bitcoin in Saudi Arabia.
This guide will show you how to buy Bitcoin in Saudi Arabia in a few steps.
How To Buy Bitcoin In Saudi Arabia
To buy bitcoin in Saudi Arabia, you need to sign up for an online exchange that offers bitcoin buying and selling services in the country.
The following are the places ( exchanges) where you can buy Bitcoin and other cryptocurrencies easily.
I will then show step by step guide on each one as well.
1- Crypto.com- Easy And Simple
Crypto.com is the best online exchange for those who are looking to buy Bitcoin in Saudi Arabia.
The simple and beginner-friendly app allows investors from Saudi Arabia to buy Bitcoin with low fees.
The first step is to deposit funds to your Crypto.com account.
To do that, you get the easiest way like paying with a card payment method.
The card payment method allows Saudi Arabians to buy bitcoin instantly and conveniently on crypto.com along with 249 other crypto assets.
The fee for purchasing Bitcoin using the card in Saudi Arabia is 2.99%. It means if you buy 100$ worth of bitcoin, you will be charged 2.99$ from the amount.
Although crypto.com lists a little less than other exchanges, still, all the popular and attractive coins and tokens are available to purchase such as:
- Bitcoin
- Ethereum
- Cardano
- XRP
- Shiba Inu
- Dogecoin
2- Coinbase.com
Coinbase is also one of the easiest, fastest, and safest crypto exchanges in the world. There is nothing to confuse about when you are a beginner and want to invest in crypto for the first time.
To buy Bitcoin and 150 other cryptocurrencies on this platform, you need to open an account on their website or app.
The account opening process is easy where they ask you to upload a picture of your Govt issued ID.
Once you have verified your account on Coinbase, you will be able to buy Bitcoin instantly via Visa or Master card.
The fess is a little high than crypto.com as they charge 3.99% of the total amount of the transaction.
It means that you would be charged 39$ dollars if you purchase $1000 worth of bitcoin.
3- Binance
Binance is the no.1 crypto exchange in the world by trading volume. It is also popular in Saudi Arabia and all around the world.
If you are looking to buy Bitcoin or sell it along with hundreds more crypto coins and tokens, this is one of the best choices for you.
Especially if you are looking to buy meme coins as well.
You can register on this platform by providing some basic information including your mobile no/ email.
You would also need to provide a digital copy of your Government Issued ID.
The fee starts at 0.1% for regular users. And it gets lower if you trade more in the selected days.
Binance has set levels for the traders.
Once you get approved to a good level, your fee will decrease and you will be more in control over your assets and trading.
4- LocalBitcoin.com
This is also one of the fastest ways to buy Bitcoin in Saudi Arabia. Just go to the website localbitcoins.com and choose Saudi Arabia to find the best offers from local brokers.
You can pay the brokers via local banks in Saudi Arabia.
But you should always check the prices on other platforms to get an idea of the bitcoin price before buying on LocalBitcoins from a broker.
Sometimes they offer Bitcoin at a very high price which is a con for this website.
5- Paybis.com
Paybis is also one of the best places to buy Bitcoin in Saudi Arabia.
This platform allows you to buy Bitcoin in Saudi Arabia via Visa card and electronic banks instantly.
The first transaction might take 15 minutes dependent on whether or not your KYC was automatically approved.
However, consequent transactions normally only take 5 minutes.
The fast service is the best thing about Paybis.com.
You can increase the limit of transactions by providing your passport to approve your identity.
6- BitOasis
Based in Dubai, Bitoasis.net is another place to buy Bitcoin instantly in Saudi Arabia.
However, you should be aware that the fees are very high when you buy on this platform.
BitOasis charges you a 4.5% fee when you buy via Visa and Master card.
This is the reason why I kept it the last on the list of all available options.
No one can afford such high fees when other low-fee options are available as I mentioned before in this post.
Conclusion
Buying Bitcoin in Saudi Arabia is not difficult as there are multiple options available. But you should choose the one that suits your financial status and the payment method that looks easy to you.
