Cryptocurrencies are a popular concept way for holding and exchanging value. These digital assets are also an excellent way to invest one’s excess funds. In the Kingdom of Saudi Arabia, cryptocurrencies are not officially supported. Years ago, the authorities dissuaded its people from getting involved in cryptocurrencies. Now, the country is more welcoming to the idea, even if there is no rule or decree that goes against crypto.
Crypto Exchanges in Saudi Arabia
Anyone willing to trade and invest in cryptocurrencies in Saudi Arabia and other countries needs cryptocurrency exchanges. There are many crypto exchanges to choose from.
Binance
Binance is the largest cryptocurrency platform globally. It has over 30 million users trading more than 350 cryptocurrencies. In addition to trading, Binance provides various services, including staking, crypto loans, and derivatives markets such as futures and options.
The Binance app caters to users of all experience levels. Its ‘Lite’ version simplifies the trading process, while the standard app offers one of the most sophisticated crypto trading platforms available.
Bybit
Bybit users in Saudi Arabia enjoy Bybit because of its advanced trading tools and robust security measures. Catering primarily to experienced traders, this derivatives exchange offers leverage of up to 100x on crypto trades.
BitOasis
BitOasis is a digital currency platform catering to the MENA region. It allows customers in Saudi Arabia to purchase cryptocurrency using wire transfers or credit/debit cards.
Coinmama
Coinmama enables customers from nearly every country to purchase cryptocurrency. They impose a fee ranging from 4.9% to 5.9% (depending on the transaction volume) on each purchase.
Paybis
Paybis stands out as a prominent cryptocurrency exchange. Paybis offers generous transaction limits and rapid payouts, along with swift 5-minute ID verification and outstanding reviews on Trustpilot.
Bitstamp
Bitstamp has been in the game since 2011. This makes it one of the first cryptocurrency exchanges to exist. It has built users’ trust and confidence. It many trading options, including 75+ cryptocurrencies like Bitcoin, Ethereum, and Litecoin. Also, the crypto exchange offers staking services for Ethereum and Algorand.. With 95% of assets stored in cold storage, it provides a sliding scale of fees to ensure high-volume traders receive optimal rates.
Exness
Exness offers users 35 cryptocurrencies, including popular options like Bitcoin, Ethereum, and Litecoin to trade and invest in. Furthermore, Exness offers numerous professional-grade trading tools and various account types tailored to accommodate traders of all skill levels. Beginners can enjoy a complimentary demo account or micro-lots for executing low minimum trades. Experienced traders can use the Exness terminal or seamlessly integrate it with MetaTrader software for trading purposes.
BYDFi
BYDFi users enjoy a different and advanced trading journey tailored for crypto enthusiasts. Established in 2019, BYDFi, previously known as BitYard, distinguishes itself amidst the competitive landscape of crypto exchanges by prioritizing sophisticated trading functionalities. If you want to trade and exchange Saudi Riyai, this crypt exchange is an excellent fit. This
Final Words
If you are in Saudi Arabia and looking to explore cryptocurrencies, then you need to use easy-to-use and safe crypto exchanges. Some of these crypto exchanges include Binance, ByBit, BitStamp, etc.
