What was once a highly speculative financial instrument, cryptocurrency currently sits at a $2 trillion market capitalization. However, not all cryptos are created equal. 

In this guide, we explore options of finding the best crypto to buy now, different crypto exchanges, and the important aspects of cryptocurrency.

Best Crypto to Buy UAE – Step by Step Guide 2022

If you’re looking for the best crypto to buy then it’s imperative that you use the proper crypto exchange platform for your needs. There’s a platform for everyone, and below are six platforms that we’ve reviewed.

1. eToro – Overall Best Free Cryptocurrency Trading Platform

Our overall best free cryptocurrency trading platform is eToro, an all-in-one exchange that offers 0% commission trading with a plethora of financial instruments. With over 40 other cryptocurrencies to choose from, you can create a whole crypto portfolio with eToro.

Want to find the best crypto to buy now? Among the cryptocurrencies in the eToro cryptocurrency exchange are Bitcoin, Litecoin, Dogecoin, and Aave. These digital assets, along with all the others on the platform, are well featured on eToro with user sentiment, asset overviews, and proper research.

However, if you’re uncertain about the best crypto to buy right now even with the platform’s resources, eToro has a great solution. Copy Trading, a feature that allows users to copy the positions of verified investors who usually have backgrounds in finance. Why spend all the time doing your own research when there are thousands who have done so already?

Additionally, eToro offers trading of over 2,700 stocks, 32 commodities, 49 currencies, 13 indices, and 264 ETFs. Needless to say, portfolio diversification won’t be an issue. On top of this, eToro’s Smart Portfolios, research-backed collections of instruments, hammer down the final nail on portfolio diversity.

As a licensed entity from the top regulators in the industry such as the FCA, ASIC, and CySEC, the eToro platform offers security like no other. If you’re looking for the best way to buy crypto, try out eToro with just a $50 minimum deposit requirement. You might not need to look anywhere else for the best crypto coin to buy. Check out eToro.

eToro fees

67% 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.

2. Alvexo - Best Crypto UAE Exchange Without Commissions

If you’re seeking for the best crypto coin to buy, then Alvexo trading platform might be able to help you out with that. Founded in 2014 by the Cyprus-based investment firm VPR Safe Financial Group Limited, Alvexo is a regulated online broker with over 375 thousand users. The tradable financial instruments in the platform include crypto, stocks, indices, forex, and commodities.

You may be able to find what is the best crypto coin to buy right now through Alvexo’s Trading Academy. This part of their platform is an educational resource center to help beginner traders learn the ropes of investing. For some tradable instruments on the platform, ebook resources, webinars, and even seminars are available for user consumption.

Notably, Alvexo has four distinct account types that vary depending on trading experience and capital amount. Beginners and even more advanced traders can opt for the entry-level Classic account which requires a minimum deposit of € 500.

Alvexo fees:

Trading Contracts for Difference (CFDs) involves a significant risk of loss that may not be suitable for all investors.

3. Libertex - Best Crypto Trading Platform For Day Trading

Initially a platform for forex, Libertex can not only help users find the best crypto coin to buy but also offers a great environment to day trade it. Aside from this, the platform also offers trading of stocks, ETFs, indices, crypto, forex, commodities, and more.

As a result of primarily being a forex broker, Libertex actually offers extremely low spreads for its financial instruments. Even better, trading any one of the 70 plus different cryptocurrencies on their platform can be done at 0% commission. Find the best crypto to buy today with Libertex after meeting the minimum deposit of just $10.

Libertex fees

67% 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.

5. BitOasis - Leading Crypto Trading Platform on the Middle East

If you reside in the Middle East, the BitOasis crypto exchange platform might help you find what is the best crypto coin to buy. As a UAE-based crypto exchange, BitOasis operates in AED and SAR, meaning no unnecessary exchange fees or rates to worry about.

As the Middle East and North Africa's (MENA) leading platform in secure cryptocurrency trading, BitOasis has over 20 cryptocurrencies including BTC, XRP, USDT, and BCH. Trade securely as the broker is a registered entity and is licensed by the Abu Dhabi Global Market (ADGM). 

Discover what is the best crypto to buy right now in the UAE with BitOasis. Head over to their site and create an account in minutes and meet the minimum deposit of 500 AED.

BitOasis fees

Your capital is at risk.

6. Crypto.com - Best DeFi UAE Crypto Exchange Platform

As one of the fastest-growing cryptocurrency exchange apps, Crypto.com is very well ahead of the curve with NFT market compatibility and even offering decentralized finance (DeFi) features. If you’re looking for the best DeFi crypto to buy, Crypto.com is the place. 

Only a few other platforms aside from Crypto.com allow users to stake their cryptocurrencies. With a huge team of crypto-savvy developers and marketers, Crypto.com allows the trading of over 40 cryptocurrencies and markets a 14% per annual return on staking stablecoins on their platform. The minimum investment per transaction for Crypto.com is 1$.

Crypto.com fees

Your money is at risk.

Best Crypto to Buy - Fee Comparison

Below is a table fee comparison of our top crypto trading platforms and exchanges to find the best crypto to buy now.

What is a Crypto?

Before we can figure out what is the best crypto coin to buy, it’s important to have a fundamental understanding of crypto. The best way to understand crypto is first to know the underlying technology, blockchain. 

In terms of cryptocurrency, a block is just a collection of data like a ledger or a program. Since blocks have limited capacity, in order to add more data, more blocks must be chained together - thus creating a blockchain. An important aspect of the nature of the blockchain is that it is decentralized as the blockchain exists in a network of computers.

Cryptocurrency is a financial asset that is secured by blockchain technology. They can be purchased in crypto exchanges and crypto trading platforms and in the case of Bitcoin, Ethereum, and other proof-of-work cryptos, they can also be mined.

Just as not all stocks are equal since the companies behind them have different visions, strategies, and technologies, not all crypto are made the same too. When asked what is the best crypto coin to buy, everyone will have differing opinions just as any other financial instrument. So to truly understand the best crypto to buy now, we must know the different reasons for investing in them.

67% 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.

Why Invest in a Cryptocurrency?

To know why people have collectively invested $2 trillion in cryptocurrencies we’ll go through three aspects of cryptocurrency that make it a financially and technologically attractive investment.

Deflationary Design

Most cryptocurrencies like Bitcoin, Ripple, and Binance Coin to name a few are deflationary in nature. This means that, unlike cash which depreciates in value due to inflation, cryptos increase in value as time goes on.

This happens because of several factors, but one of them is that there are only a finite number of coins in circulation. Bitcoin, for example, has a hard limit of 21 million coins - meaning only 21 million coins can mathematically be mined and exist. Another factor as to why many cryptocurrencies are deflationary is because some tokens are intentionally deleted with what’s known as token burning. 

Because many cryptocurrencies were programmed to theoretically appreciate, many celebrities, investors, and ordinary folk invest in crypto.

Decentralized Finance and Other Blockchain Ecosystems

Perhaps one of the keys to finding one of the best crypto to buy now is one that has huge implications with decentralized finance. Unlike centralized finance where one central authority like a bank controls all the money, DeFi has pieces of code that act as a bank. 

One of the major advantages of trading through DeFi is that the costs are much lower and the time of transactions is much quicker. DeFi can run much quicker and cheaper since everything needs to be run through code alone unlike centralized finance that requires hiring, offices, and moving cash.

Through a breakthrough that started with Ethereum, blockchain technology even integrates what’s known as smart contracts which basically code that’s run through blockchain. This helped sprout decentralized applications (dApps) and non-fungible tokens (NFTs)  which thousands of creative developers have used to make pioneering blockchain ecosystems.

Staking and Providing Liquidity

Perhaps one of the biggest reasons why some of the best crypto to buy exists is because of the ability to yield farm. One way owners of certain cryptocurrencies can do this is by using their crypto to invest in liquidity pools.

 As a reward for owning part of the liquidity pool through crypto, the investor receives a portion of the transaction fees from the pool. For example, $1000 worth of cryptos invested in a liquidity pool that offers a 0.3% in fees and transacts $1 million in a day can yield the investor $30 each day.

Another way to earn through yield farming in crypto is by borrowing and lending to certain platforms. Many crypto borrowing and lending platforms provide rewards for its lenders. Platforms like Compound and Aave have certain rates for specific coins that can reach as high as a 30% annual percentage rate (APR).

Buying Cryptos Safely

Of course, when you’re trying to figure out what is the best crypto coin to buy, there will be schemes and ideas that are too good to be true. In order to buy cryptos safely, you’ll need to avoid scams like sites that give out free crypto but ask for your crypto wallet private keys. 

Crypto wallets are another thing as well. You might want to opt for using a crypto wallet and buying coins in decentralized exchanges (DEXs) rather than centralized exchanges (CEXs). Although there are many CEXs that are safe, easy to use, and more practical, further down along the line DExs will be a more viable option.

67% 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.

Risks of Buying Cryptos

In your journey of finding the best crypto coin to buy, it’s important to understand the risks involved in dealing with cryptocurrencies. Listed below are some of the main things to look out for:

• Cryptocurrencies are prone to sudden price spikes and fluctuations, making them highly volatile assets. In general, volatility means more risk in trading.
• Be careful when using leveraged crypto positions. Due to the high volatility of the financial instrument, your highly leveraged positions can easily be margin called - leading to huge and sudden losses.
• Beware of sketchy crypto platforms and exchanges. A lot of crypto scams exist out there, so make sure to choose a well-regulated and known exchange.

Selling Cryptos

Looking to cash out on the best crypto to buy? Selling cryptos can be as easy as selling any other asset. Simply head over to your crypto trading platform or exchange and connect your crypto wallet to sell the asset. If your wallet or crypto is already connected to your account, you can proceed to simply close your position.

Certain trading platforms and crypto exchanges also offer the ability to go short on crypto positions. This essentially means betting against the price of a cryptocurrency. You can do so as well, but beware in using this strategy as short positions have virtually infinite risk.

Where to Buy Cryptos

If you’re one to find the best way to buy crypto for your needs, then consider the platforms we’ve reviewed and listed below:

1. eToro – Overall Best Cryptocurrency Trading Platform
2. Alvexo - Best Crypto UAE Exchange Without Commissions
3. Libertex – Best Low Spread Crypto Trading Platform
4. Bitoasis– Best UAE-based Crypto Exchange Platform
5. Crypto.com – Best DeFi UAE Crypto Exchange Platform

Best Way to Buy Cryptos in Dubai - eToro Tutorial

In this section of our Best Crypto to Buy Beginner’s Guide, we provide a step-by-step tutorial on how to trade and invest in cryptocurrencies through eToro.

Step 1: Open an Account

67% 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.

To start, go to the eToro website and find the Join Now button at the top right. Simply fill in your desired username and password or connect an existing Facebook or Google account to start the registration process.

Step 2: Upload ID

For step two, you’ll need to verify your account by uploading a valid ID and proof of address. Your valid ID can be a passport or driver’s license and your proof of address can be something like a utility bill or bank statement.

Step 3: Deposit Funds

Next, you can deposit funds to your account via these payment methods accepted by eToro:

• Visa, Mastercard, and Maestro credit and debit cards
• PayPal, Skrill, and Neteller e-wallets
• UAE bank transfer

Note that there is a 0.5% fee for the USD to UAE exchange. Meaning a $5,000 would only amount to $5 (around 18.37 AED from a deposit of 5,037 AED).

Step 4: Buy Cryptos

Finally, once your account has been funded and you see that you have usable equity, you can now trade and get the best crypto to buy! Simply search for what you found to be the best crypto coin to buy on the menu and click Trade. You’ll see a pop-up modal that shows the asset, how much you want to invest, and other parameters to open your trade.

eToro – Buy Cryptos With 0% Commission in Dubai

67% 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

Who created the first cryptocurrency?

Bitcoin was the first cryptocurrency which was created by an entity known as Satoshi Nakamoto.

What is the total crypto market cap?

Currently, the total crypto market cap is $2.01 trillion.

Do I need a crypto wallet to buy cryptos?

Technically you don’t need a crypto wallet to buy cryptos if you are purchasing crypto CFDs. However, if you want to actually own the cryptocurrency that you buy, then yes, you will need a crypto wallet.

Can I buy cryptos in UAE?

Yes, you can. For example, you can buy crypto through eToro with a UAE account.

How much money do I need to buy a Bitcoin?

At the time of writing, Bitcoin is priced at around $42,000 or 155,000 AED. However, you may purchase parts of a Bitcoin for much much lower depending on the minimum transaction amount of the crypto exchange you’re using.