Rain is a Bahrain-based cryptocurrency exchange based in Bahrain. It supports multiple fiat currencies, including the U.S. dollar. Rain is a solid choice for those seeking a cryptocurrency exchange that caters primarily to Middle Eastern customers.
Best Features of Rain
Multilingual and Comprehensive Customer Support
Rain offers 24/7 assistance through live chat, phone, and email in multiple languages, including English, Arabic, and Turkish. The Support Center includes 129 articles covering various topics, from linking a bank account to the exchange’s Sharia compliance. Additionally, Rain provides a live chat option. This allows users to speak with a customer service representative in real-time. Rain boasts an average response time of under 5 minutes.
Zero Trading Fees
Rain charges no fees for depositing and withdrawing funds from the platform and offers zero commissions on trading fees. It supports deposits and withdrawals in five local fiat currencies, and the U.S. dollar. This makes it extremely convenient for users to move their money around.
Mobile App
Rain’s mobile app features a sleek design and user-friendly interface. The app is available on both iOS and Android devices. This makes it easy for users to monitor their portfolios, execute trades, and manage their accounts from anywhere.
Rain Learn
Rain Learn is an educational resource that helps users start their cryptocurrency journey and stay updated with the latest news and trends.
OTC Desk
Rain’s Over-The-Counter (OTC) trading desk is specially designed for high-volume cryptocurrency trading. It caters to investors interested in substantial transactions. The OTC desk facilitates trades via a private broker-dealer network that enhances privacy and reduces exposure to slippage.
Final Words
Rain is an excellent choice for cryptocurrency users in the Middle East who want a well-regulated platform, high purchasing limits, and comprehensive customer support.
Frequently Asked Questions
Which Fiat Currencies Does Rain Support?
Rain supports the national fiat currency of each country it serves and the U.S. dollar, allowing for a wide range of trading options.
Which Payment Methods Does Rain Support?
Rain supports several payment methods. UAE residents can buy cryptocurrency using Visa, MasterCard, or a linked bank account.
Is Rain Shari’a Compliant?
Yes, Rain has been approved by the Shari’a Review Bureau (SRB) as a Shari’a-certified compliant business.
Does Rain Serve Institutional Investors?
Yes, Rain Desk is the exchange’s over-the-counter (OTC) service. It offers personalized cryptocurrency buying, selling, and custody services to high-net-worth individuals, businesses, and family offices.
Can You Convert Between Cryptocurrencies on Rain?
Currently, you cannot convert between cryptocurrencies on Rain. You can buy Bitcoin and altcoins with fiat and sell them back to fiat, but conversion between cryptocurrencies is not supported.
Does Rain Charge Fees?
Rain does not charge deposit fees, and you will be credited the amount received in Rain’s bank account. However, banks may charge an international wire transfer fee.
Which is the Best Crypto Exchange in the UAE?
Some of the best crypto exchanges in the UAE include Rain, Coinbase, Binance, etc.
