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Exchanges › Best Crypto Exchange in UAE and Dubai (August, 2024)
Page Summary
This guide helps users to find the best crypto exchange in UAE for investing and trading digital currencies. Most cryptocurrency trading platforms often lack security, transparency, and liquidity. Additionally, the growing number of reliable and scam crypto exchanges in the United Arab Emirates makes choosing the ideal option for individual needs challenging.
For cryptocurrency traders and investors to select the best crypto exchange, they need to be aware of nontransparent (scam) exchanges and understand the unique features of crypto exchanges, keeping in mind that they are not protected in case of the exchange’s bankruptcy.
To help investors make an informed decision on which crypto exchange to trade or invest at, considering their individual cryptocurrency investment and trading goals, our experts have reviewed and compared the key features of the best crypto exchanges in UAE and Dubai.
This guide evaluates, compares, and reviews 5 crypto exchanges available in the UAE to help users find the ideal platform that suits their personal needs. The highest-rated exchanges in the UAE are listed below, followed by our in-depth expert reviews, comparisons, and FAQs.
The best cryptocurrency exchanges in UAE and Dubai are reviewed below including a list of key features.
Rating: 4,5/5
Min Deposit: $100
Fees: 4.2
Assets available: 4.0
Total Fees: Low
Crypto assets are complex and carry a high risk of volatility and loss. Trading or investing in crypto assets may not be suitable for all investors. Take 2 min to learn more
eToro is an Israeli social trading and multi-asset investment company founded in 2017 that allows users to trade and invest in forex, stocks, commodities, and cryptocurrencies. It is the best cryptocurrency exchange for beginners because the in-house developed trading platform and trading app are incredibly user-friendly, making trading and investing easy for beginner cryptocurrency traders and investors.
eToro users can trade and invest in 70 different cryptocurrencies, including Bitcoin, Ethereum, and Solana, at low trading fees of 1% on each crypto order. eToro UAE users’ minimum first deposit is $100. Available funding methods include debit and credit cards, PayPal, Neteller, Klarna, and bank wire transfers.
Although eToro is regulated by the FCA, SEC, and ASIC, it doesn’t post Proof of Reserve or liquidity numbers. However, it is possible to earn passive income by staking Cardano (ADA) and Tron (TRX) at eToro.
eToro Academy allows new investors and traders to learn about cryptocurrency trading and investing, including portfolio management skills and how technical and fundamental analysis works. Account security can be increased by adding a two-factor authentication to their login process.
The eToro customer support is available in 10 languages, including Arabic and English, and is available 24/7 via its ticket system, WhatsApp, and live chat.
Key features:
Crypto assets are complex and carry a high risk of volatility and loss. Trading or investing in crypto assets may not be suitable for all investors. Take 2 min to learn more
Rating: 4,9/5
Min Deposit:
Fees: 4.9
Assets available: 4.9
Total Fees:
OKX is the world’s largest cryptocurrency derivatives exchange with over 50 million users and the highest liquidity (422k BTC daily derivatives trading volume). OKX offers derivatives trading and spot and liquid marketplace trading services, where custom strategies and block trades can be applied.
In total, 469 spot and 223 derivatives markets are available. Besides cryptocurrency trading, OKX offers earning and Web 3.0 services like flexible and fixed staking, lending, and liquidity mining on DeFi protocols. Additionally, OKX features a full-fledged NFT marketplace.
OKX charges low trading fees of -0.005% – 0.06% / 0.015% – 0.06% and -0.005% – 0.01% / 0.015% – 0.03% maker/taker on its spot and derivatives markets trades, respectively, depending on the user’s 30-day trading volume. Its range of available trading platforms includes:
The OKX trading platform is advanced and aims at professional and institutional users. However, the crypto exchange provides various educational materials (beginner guides, trading tips, and market updates).
OKX publishes its Proof of Reserves daily (1:1) and is regulated by Dubai’s Virtual Asset Regulatory Authority (VARA) and Malta’s Virtual Asset Financial Assets Act. Regarding safety, OKX features bank-level encryption, multi-signature wallets, 2FA authentication, and full KYC verification for large withdrawals.
OKX doesn’t have minimum deposit requirements and allows users to buy cryptocurrencies from $5 with credit cards, bank wire transfers, and e-wallets. Customer support is offered 24/7 through the crypto exchange’s Support Center and live chat in multiple languages, including English.
Key Features
Rated: Top rated platforms for crypto trading in UAE
Rating: 4,8/5
Min Deposit:
Fees: 4.8
Assets available: 5.0
Total Fees:
Binance is the world’s largest cryptocurrency exchange with 402 available cryptocurrencies and 1591 trading pairs, more than 170 million users, and $76 billion daily trading volume in BTC. Binance offers spot cryptocurrency trading, crypto futures, options, derivatives, and NFTs. Binance users have the option to stake or loan out their digital assets or make use of high-yield savings programs.
Binance has deep liquidity as the biggest exchange with the broadest selection of available cryptocurrencies, meaning orders are filled nearly instantly.
Binance has an advanced trading platform and app that might initially be too complex for beginner users. However, the cryptocurrency exchange offers an extensive range of cryptocurrency trading educational material via its Academy and blog. Additionally, users have access to institutional-grade analysis and in-depth insights.
Binance charges very low trading fees of 0.1% – 0.012% / 0.1% – 0.024% maker/taker fees, depending on the user’s 30-day trading volume. Although Binance posts its Proof of Reserves daily, the exchange is unregulated. However, it is in the possession of both a Financial Services Permission (FSP) and MVP license to be a Virtual Asset Service Provider (VASP) in Dubai.
Binance has no minimum deposit and allows users to buy cryptocurrencies with fiat currencies. Available payment methods are MasterCard, Visa, bank transfers, and ADVCash. Binance has its own payment system called Binance Pay with a prepaid Visa debit card, which can be used at external sources to pay for goods and services.
Binance is one of the best-secured cryptocurrency exchanges with address whitelisting, regular 2FA, and withdrawal two-factor authentication. Binance customer support is mainly self-service but offers support through live chat, email, and its extensive network of FAQ pages.
Key Features
Rating: 4,8/5
Min Deposit:
Fees: 4.8
Assets available: 4.7
Total Fees:
HTX, formerly known as Huobi, is a Seychelles-based crypto exchange founded in 2013 that is considered to be the most secure trading platform for cryptocurrencies. It keeps 98% of its clients’ funds in multi-signature cold storage wallets, a 20,000 BTC Security Reserves Fund. It has fingerprint Touch ID login, two-factor authentication (2FA), and anti-phishing code confirmation for its users.
HTX allows users to trade and invest in 658 cryptocurrencies and has 98 crypto derivatives. Via its in-house developed trading platform and trading app, users can access other income-generating opportunities, such as crypto savings and loans, copy trading, and flexible, non-custodial, and fixed staking. Additionally, users can trade crypto futures and options at HTX and NFTs.
HTX’s trading fees are low, clocking in at 0.07% – 0.2% / 0.07% – 0.2% and 0.02% / 0.04% maker/taker for its spot and derivatives markets, respectively, with fees lowered as user’s 30-day trading volume increases. Additionally, HTX allows direct TradingView trading, automated trading with Expert Advisors, and copy trading.
The HTX trading platform is beginner-friendly, and new users can learn how the platform works through HTX Learn and the Futures Academy. Although the crypto exchange is mostly self-service, its customer support can be reached 24/7 in multiple languages through a ticketing system initiated via chatbot.
HTX has no minimum deposit requirements except for USDT, which is 100. HTX offers cryptocurrency purchases with Visa and MasterCard through Quick Trade, fiat deposits via Fiat Deposit, large trades through the OTC Desk, and user-to-user trades through the exchange’s P2P Marketplace.
HTX has high spot and derivatives market liquidity of over 35k and 46k BTC daily trading volume, respectively. Users should note that although HTX publishes its Proof of Reserves from time to time (1:1), it is an unregulated cryptocurrency exchange as of the time this guide was written.
Key Features
Rating: 4,6/5
Min Deposit:
Fees: 4.6
Assets available: 4.8
Total Fees:
ByBit is a Dubai-based crypto derivatives exchange with a 24h trading volume of over 2 billion dollars that allows users to invest in and trade 407 different cryptocurrencies and 275 crypto derivatives on a non-custodial, multi-chain DEX with up to 100:1 on MetaTrader 4.
Its trading platform and app are beginner-friendly yet feature-rich and offer ways to make passive income with crypto, such as flexible and fixed staking, high-yield savings accounts, copy trading, and liquidity mining. Additionally, ByBit provides automated wealth management services, a prepaid crypto debit card, and a built-in NFT marketplace.
ByBit provides users access to TradeGPT, an AI trading bot, crypto trading tournaments, and a Position Builder that simulates P/L for perpetual, futures, and options. However, the crypto exchange is mostly self-serviced and offers fewer educational resources than other exchanges.
Security-wise, ByBit features triple-layer asset, data, and privacy protection, real-time security monitoring, IP and wallet address whitelisting, and two-factor authentication login. Besides being a safe crypto exchange, ByBit is also transparent, as it posts its Proof of Reserves (1:1) regularly. However, the exchange is unregulated for the time being.
ByBit charges competitive trading fees of 0.02% – 0.1% / 0.02% – 0.1% spot and 0.01% – 0.055% / 0% -0.02% derivatives maker/taker fees, respectively. The higher the user’s 30-day trading volume, the lower the fees. Apart from trading fees, ByBit charges a 0,02% funding fee.
Bybit’s available funding methods include credit/debit cards, cryptocurrencies, and PayPal. Only crypto withdrawals are supported, and the exchange doesn’t have minimum deposit requirements. Additionally, ByBit provides fiat on-ramp services, allowing users to buy crypto with AED and other currencies.
The ByBit customer service is available in multiple languages, including English and Arabic via email and live chat.
Key Features
Criteria for finding an exchange with the best crypto trading platform in UAE are listed below.
Key features of the top-rated exchanges for UAE traders and investors are compared in the table below.
Crypto exchanges are trading platforms that allow users to buy, sell, trade, and invest in cryptocurrencies, non-fungible tokens (NFTs), and other digital assets. They act as middlemen in the cryptocurrency industry as brokers do in the stock market.
Key characteristics of cryptocurrency exchanges include:
Types of crypto exchanges:
Functions:
Features:
Cryptocurrency exchanges play a vital role in the digital asset industry by allowing users to trade crypto, conduct market price discovery, and store their cryptocurrencies. However, their security measurements, regulatory compliances, fees, and services differ.
Yes, it is legal to buy cryptocurrency in the UAE. The United Arab Emirates (UAE) and Dubai introduced the Virtual Assets and Related Activities Regulations Act on February 7, 2023. The UAE is known for its proactive approach to financial innovations and technologies and wants to regulate the industry, ensuring healthy future growth.
Key Aspects of Crypto Regulation in the UAE and Dubai:
Keep in mind that the legal landscape for digital assets evolves quickly, and that the most up-to-date information on crypto regulations in the UAE and Dubai can be found on the official websites of the government and relevant regulatory authorities. It may be wise to consult with a legal expert in the region for the latest updates.
Binance has been granted the Virtual Asset Service Provider license by Dubai’s Virtual Assets Regulatory Authority, a move that could be viewed as a positive development for its users in the UAE.
The UAE has a high standard of living, great infrastructure, and a strong economy, making it an attractive place for crypto enthusiasts. Many other countries are also becoming more welcoming to cryptocurrencies and blockchain technology.
No, in the United Arab Emirates (UAE), income generated from crypto trading, staking, and investing isn’t taxed on a personal level. The reason for this is because the UAE doesn’t levy personal income tax on individuals via the Federal Tax Authority (FTA). Because of this, the UAE, and Dubai in particular, is an attractive hub for cryptocurrency traders and investors alike.
Businesses participating in cryptocurrency activities are subject to general corporate tax as there is no specific tax regime in place for this industry (yet). Corporate tax is 9% on revenues from UAE-based businesses. Free zone businesses with revenue from outside the UAE will pay no corporate tax. It is mandatory to stay updated regarding potential policy changes by the Federal Tax Authority as both individuals or businesses operating in the digital asset space.
The ‘’best’’ cryptocurrency wallet in UAE differs per person, as each person has its own individual needs and preferences when it comes to digital assets. However, our experts will highlight the key criteria to keep in mind when selecting a UAE crypto wallet below.
Criteria to Consider:
Popular Crypto Wallets:
The ‘’best’’ crypto wallet differs for every trader and investor as factors like the level of security and the types and amount of planned transactions differ per person. Our experts advise storing large amounts of cryptocurrencies in hardware wallets. At the same time, frequent traders should keep some of their digital assets on software or exchange wallets to allow easy trading. Keep your crypto wallet software or firmware updated at all times to avoid unnecessary security risks and to be compatible with the latest digital assets.
Here are the pros and cons of crypto exchanges in UAE:
Pros:
Cons:
Considering these advantages and disadvantages, individuals and institutions that want to enter the digital asset space through crypto exchanges should do extensive due diligence and be aware of the associated risks.
Number of business24-7 users from the UAE that selected these exchanges in the last year are compared in the table below.
If you are just starting out with crypto trading, there are a few things to consider before signing up with with a crypto exchange.
Start Investing in Stable Coins
The crypto market is highly volatile and a few mistakes can hurt your finances. Make sure you start trading with alt-coins (Bitcoin, Ethereum, Ripple) which have proven to be more stable and receptive for beginners mistakes.
Use a Free Demo Account to Get Started
Always start with a trading platform that offers a free demo account. This allows you to get a feel for the platform, the trading dashboard and to test your trading strategy before investing real money.
Make Use Of Copy Trading
Picking the right cryptocurrencies and the right trades is crucial to your financial success. Copy trading enables you to copy portfolios and trades from seasoned investors based on their past performance, instead of picking them on your own.
Avoid Leveraged Positions
All fo the recommended exchanges offer trading with leverage to a different extend. As promising as it sounds to trade with borrowed money, its is a double-edged sword and nothing that unexperienced traders should make use of.
Watch a short recap of the highest rated choices in the video below or read our Linkedin article.
Trading with cryptocurrency is an excellent investment to make financial gains and grow wealth. However, with the growing number of exchanges in the UAE, potential traders need to gather, compare and evaluate essential data to choose the ideal service for their needs.
In this guide, we have worked hard for our readers to keep them safe and informed by comparing, evaluating and reviewing the services of different exchanges. We have previously removed scams and unreliable offers lacking security features to help them make and informed decision. Our analysis results in a list of the best crypto exchanges in UAE, which is summed up in the table below.
As our experts regularly receive questions about the best crypto exchange in UAE and Dubai and we want our guides to be as inclusive as possible, we have decided to answer the most frequently asked questions below.
What Is A Centralized Cryptocurrency Exchange?
Centralized exchanges are run by private companies and require users to register based on the KYC (Know Your Client) rules.
What Is A Decentralized Cryptocurrency Exchange?
Decentralized exchange does not have a central point of control and are not obliged to follow rules of regulatory bodies.
How To Buy Cryptocurrency Through an Exchange?
To buy cryptocurrency through an exchange users need to open an account, verify it through KYC, deposit funds and open a buy trade.
How To Open A Cryptocurrency Exchange Account?
The most common way to open a cryptocurrency exchange account is by applying online, filling out the required forms and submitting the KYC required documentation to prove identity.
How To Cash Out Cryptocurrency In UAE?
To cash out crypto in UAE, users have to use an exchange that supports withdrawals in their fiat currency. A Uquid debit card, a Bitcoin ATM, LocalBitcoins and other P2P exchanges can be used.
Is Cryptocurrency Trading in Compliance to the Sharia Law?
Trading cryptos is u0022halalu0022 and in compliance with the sharia law if the underlaying tokes is halal.
Which Is The Lowest Fees Crypto Platform in UAE?
The platform with the lowest fees in UAE is OKX.
Is eToro within the top 10 best crypto exchange in UAE?
Yes, eToro is within the top 10 best crypto exchanges in the UAE and it is considered to be the most beginner-friendly one.
Is there a Dubai crypto exchange office?
Yes, there are many crypto exchange offices in Dubai. Alternatively, you can convert crypto to fiat and vice versa through the exchanges mentioned in this guide.
What is the best UAE-regulated crypto exchange?
According to our research, the best UAE-regulated crypto exchange is eToro, which is regulated by the FCA, SEC, and ASIC, and is in the possession of a Dubai-issued VARA license.
Can I buy Tether in Dubai?
Yes, you can buy Tether (USDT) in Dubai, either with fiat or other cryptocurrencies via both peer-to-peer marketplaces and cryptocurrency exchanges.
What is 1 Bitcoin to AED or 1 BTC to AED?
As of writing this guide, 1 Bitcoin is about 200,000 AED.
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. 51% 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
This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
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.
Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.
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Business24-7 was founded to help users compare and select financial service providers in the United Arab Emirates to achieve their individual financial goals. It was following traders and investors needs for independent reviews, comparisons and evaluations of the numerous available platforms to help them avoid scam and nontransparent providers.
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Best Crypto Exchange In UAE | 2024 Award Winners for UAE & Dubai – Business24-7
