Bitcoin has been the number one cryptocurrency since its launch over a decade ago. Reaching a market capitalization of over US$1 trillion in 2021, it is known as the fastest asset to do so which took just 12 years. But if you want to know how to buy Bitcoin in UAE, this guide will discuss where to buy Bitcoin in Dubai from different crypto exchanges and trading platforms.

Read on as we go through the best way to buy Bitcoin, how to buy Bitcoin with PayPal, the best place to buy Bitcoin, and more.

Where to Buy Bitcoin in Dubai – Step by Step Guide 2022

Understanding where to buy Bitcoin in UAE is just as important as knowing how to buy Bitcoin Dubai. Since each trading platform and crypto exchange offers varying features and fees, the question ‘where can I buy Bitcoin in Dubai?’ requires some research to solve.

We’ve reviewed five platforms that let you buy and sell Bitcoin in Dubai and even abroad as these platforms let you buy Bitcoin online.

1. eToro – Overall Best Free Cryptocurrency Trading Platform

Nothing lets you buy, sell, and learn different assets and instruments quite like eToro. There’s a reason why the platform is our most recommended crypto exchange, and that’s because, for most people, eToro will work wonders. From creating an account to trading your first asset, eToro’s user-friendly interface and zero commissions make trading a breeze.  

In particular, investing in cryptocurrencies like Bitcoin are as easily tradable as any other asset on the eToro platform. You won’t need to worry about underlying commissions so you can focus better on trading. The only trading fees are the spread which starts at 0.75% for Bitcoin. Not only can you buy Bitcoin instantly, but you can trade over 40 other cryptocurrencies as well.

For beginners and new traders, it’s not just easy to buy Bitcoin with eToro but the platform can also help you build the confidence to trade other instruments. With a demo account available, any user can try out a new trading strategy without risking any actual capital. 

Perhaps one of the most compelling reasons why eToro is the best platform to buy Bitcoin is because of its Copy Trading feature. Simply put, copy trading lets users invest in copy traders, verified and usually professional investors who have made their portfolios public. This allows eToro users to mimic the copy traders’ positions and earn around the same percentage.

Copy trading lets you trust in who you think has the expertise to know the best time to buy Bitcoin among other crypto copy traders. What makes this feature so great is that users can even learn from when other copy traders make their positions so that eventually you too can learn how to buy Bitcoin in Dubai through your own strategies and research.

The minimum deposit to get started and buy Bitcoin with eToro is US$50 while the minimum amount to buy the cryptocurrency is just US$10. The platform is licensed by top regulators such as the UK’s FCA, ASIC, and the CySEC. Rest assured that your accounts are protected and follow many accounts and financial safety protocols.

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

The Alvexo trading platform is a Financial Services Authority (FSA) of Seychelles regulated CFD broker that features over 450 different instruments like cryptocurrencies, stocks, forex, and more. With more than 375 thousand registered members, Alvexo is second on our list of where to buy Bitcoin in UAE.

Through their trading academy and intuitive platform, Alvexo stands out with a server-oriented approach and user-centric focus on trading. For those keen on learning how to buy Bitcoin in UAE, this is good news as they offer trading tutorial videos, articles, and other resources.

For a fairly new platform just having been launched in 2017, the Alvexo platform also offers a decent array of payment options. With Visa and Mastercard, you can buy Bitcoin with credit card or buy Bitcoin with debit card. Other payment methods include Google Pay, Apple Pay, and PayPal.

Following the industry standards, Alvexo keeps account funds in segregated bank accounts and uses modern digital security protocols to keep accounts safe. If you’re looking to buy Bitcoin in Dubai, you can get started with Alvexo.

Alvexo fees:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% 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.

3. Crypto.com - Fast and Secure Cryptocurrency Exchange

Unlike the last three on the list, Crypto.com focuses purely on cryptocurrencies and is one of the fastest and most secure crypto exchanges in the industry. With over 250 cryptocurrencies and stablecoin under its belt, Crypto.com is a recommendable crypto exchange for those starting on how to buy Bitcoin in Dubai.

Another advantage of the Crypto.com platform is the ability to trade crypto derivatives. For those wondering where can I buy Bitcoin with leverage, Crypto.com is the place. The minimum investment per transaction for the platform is US$1.

Crypto.com fees

Cryptocurrencies are highly volatile assets and can immensely fluctuate in price.  You should consider whether you can afford to take the high risk of losing your money.

5. Binance - Top Crypto Exchange UAE for Asset Diversity

Last but definitely not least on our list is Binance, one of the global leaders and most popular crypto exchanges out there. Boasting an extensive user base of over 100 million, Binance is a well-established and widely used platform for those learning how to buy Bitcoin in UAE. 

Aside from this, there are also over 500 other tradeable cryptos aside from Bitcoin, including AVAX, LUNA, USDT, BNB, and many more. This makes the Binance platform one of the top exchanges for crypto-asset diversity. Not only do they have different cryptocurrencies to trade, but they also allow their users to buy a non-fungible tokens (NFTs) on their NFT marketplace.

The minimum deposit to buy Bitcoin in UAE through Binance is US$50. So where’s another great place to buy Bitcoin in Dubai? Right here on Binance.

Binance fees

Cryptocurrencies are highly volatile assets and can immensely fluctuate in price.  You should consider whether you can afford to take the high risk of losing your money.

What is Bitcoin?

Bitcoin is the face of cryptocurrencies and was the first to prove its viability. Today, Bitcoin remains to be the largest cryptocurrency in terms of market cap at US$794 billion at the time of writing. 

Launched in 2009 by an entity known as Satoshi Nakamoto, Bitcoin was designed as a store of value that allowed people to own and send currency without a centralized authority. As money became more and more digital, it looked to become the best version of digital currency by solving some of fiat money’s problems.

Two of the main problems of fiat money that Bitcoin looked to solve is centralization and supply. Governments and central banks are centralized authorities that control and issue fiat money. They can also keep printing money in order to increase its quantity but decrease the value of each unit of money.

As hundreds of billions have been invested in Bitcoin alone, the next thing you might ask is can I buy Bitcoin in UAE? The answer is a most definite yes. As of 2022, there are many different platforms that facilitate trading Bitcoin. Furthermore, many companies have already started accepting Bitcoin and other crypto payments for their products and services.

One important aspect of Bitcoin is that because of the way it was created, anyone can mine it. Mining refers to using computing power to validate transactions or blocks which require solving an algorithmic function in the network. This is essentially the heart of blockchain technology which allows Bitcoin to be decentralized and also deflationary in nature as only 21 million Bitcoins can be mined.

Why Buy Bitcoin?

Before understanding how to buy Bitcoin in UAE, you’ll first need to know why many have invested in Bitcoin. As we pointed out earlier, one of the biggest reasons why investors have bought bitcoin was due to its deflationary properties. Simply put, these investors believe that their value is better stored through Bitcoin based on the risk to reward they see.

Despite being volatile in price, Bitcoin theoretically will grow in value but because of the nature of markets and trading, prices will always fluctuate. However, volatility does give many day traders the opportunity to buy Bitcoin in Dubai and trade it in the short-term for profits.

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.

How Much Does It Cost to Buy Bitcoin?

Many trading platforms offer what’s known as fractional shares of financial instruments. This means that you can buy parts of an asset if you want to invest but don’t have enough to buy one full asset.

Bitcoin innately has this property as the cryptocurrency can be split into smaller denominations much like the dirham can be split into fils. One Bitcoin can be divided into 100 million satoshis. This means that even if the cost of Bitcoin is in the tens of thousands of dollars, you can still buy parts of Bitcoin (satoshis) for a respective fractional price.

How to Buy Bitcoin in UAE with PayPal

If you want to know how to buy Bitcoin with PayPal, it’s very simple. IF you’re a US customer, then you will have access to the PayPal feature that lets you buy Bitcoin as well as other cryptocurrencies like Ethereum and Bitcoin Cash.

However, if your account is registered as UAE-based, then this feature is not yet available. Thankfully, however, you can still buy using your PayPal credit to buy Bitcoin with eToro as the platform accepts payments via the popular e-payments system.

Buying Bitcoin Safely

It’s important to consider safety and security when dealing with trading and buying cryptocurrencies. What you’ll learn when understanding how to buy Bitcoin in UAE is that there is still a risk of accounts being hacked and scammers trying to deceive others into giving them Bitcoin.

Many sites that offer free cryptocurrencies or other promos that look too good to be true might be scamming you. In the crypto-sphere, it is highly encouraged that everyone does their own research when trading and buying assets. Make sure that the exchange you are using is well-established and check if they have the right security measures.

Licensed and regulated exchanges like some that we mentioned earlier are your best bet to buy Bitcoin in Dubai safely. Many of these platforms have good security measures like two-factor authentication and negative balance protection depending on where you live.

Risks of Buying Bitcoin

Even if you do get to safely buy Bitcoin in UAE, another risk when you actually own the cryptocurrency is the price volatility. Despite being around for over a decade, Bitcoin and the rest of the crypto assets are still known to be highly volatile and can drastically shift in price.

More evident for Bitcoin derivatives trading, this is one of the main risks of buying Bitcoin. This is because using leverage on volatile assets can cause your account to get margin calls which require you to add money to your position should it reach a certain price. Consider actually owning Bitcoin and not using leverage when trading as this can reduce your risk. 

Selling Bitcoin

Once you’ve found a platform and completed your buy Bitcoin in Dubai with cash, it’s relatively easy to sell it as well. Simply close the position that you already have in your account portfolio. If your Bitcoin is stored in a Bitcoin wallet, then you can convert it to a stablecoin on a crypto exchange site.

Bitcoin Price Forecast

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.

Now that you’ve learned a bit about how to buy Bitcoin in UAE and why people buy Bitcoin in Dubai, you might ask yourself should I buy Bitcoin now? This article is not financial advice and should not be taken as such, so buying Bitcoin should completely be under your terms. However, we can provide our opinion on the price movement and history of the coin.

Based on some technical analysis of the Bitcoin price, we can see that the price in 2021 peaked at around $69,000 in November and reached as low as around US$27,000. At the time of writing, Bitcoin’s price is now moving between the range of $40,000 and $46,000.

If Bitcoin breaks below the $40,000 range then we might see some downward pressure towards the $36,000 level. As for if Bitcoin breaks the $46,000 wall, the cryptocurrency might look to test the $48,000 resistance next.

Where to Buy Bitcoin

If you want to buy Bitcoin in UAE, then you'll need to find yourself a cryptocurrency exchange platform. Here is a list of the crypto platforms that we've reviewed earlier:

1. eToro – Overall Best Cryptocurrency Trading Platform
2. Alvexo - Best Crypto UAE Exchange Without Commissions
3. Crypto.com – Fast and Secure Cryptocurrency Exchange
4. Binance – Best Cryptocurrency Trading Platform for Day Traders

Best Way to Buy Bitcoin in Dubai - eToro Tutorial

In this section of Where to Buy Bitcoin in UAE, we show below a step-by-step tutorial on how to buy Bitcoin in Dubai via 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.

Here is how to buy Bitcoin in UAE. First, head to the eToro site and press the Join Now button at the top right. You'll then be redirected to the sign-up sheet. Simply fill in your desired username and password or use an existing Facebook or Google account to open an account.

Step 2: Upload ID

Next, you won’t be able to buy Bitcoin without verification. For this, eToro will ask you to verify your account by uploading a valid ID and proof of address. For a valid ID, you may opt for something like a passport or driver's license. For the proof of address, you may use a utility bill or a bank statement.

Step 3: Deposit Funds

With your account verified, you may proceed to deposit funds into it. Now, you won’t be able to buy Bitcoin with cash directly as you can only use the following 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 Bitcoin UAE

With your account now funded, you can now buy Bitcoin in UAE on eToro! On the dashboard, search for Bitcoin and press trade. Once the trade modal pops up, you may put in your desired amount to invest in (minimum at US$10) and click on Open Trade.

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.

eToro – Best Crypto Platform to Buy Bitcoin With 0% Commission in UAE

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

What is Bitcoin?

Bitcoin is the first widely-used decentralized digital currency using blockchain, a distributed ledger. Bitcoin, using the Proof of Work consensus model, can be mined via computing power.

Who created Bitcoin?

In 2009, Bitcoin was launched based on the creation of the entity known as Satoshi Nakamoto.

What is the market cap of BTC?

At the time of writing, Bitcoin’s market cap is at $794 billion.

Do I need a crypto wallet to buy Bitcoin?

Yes, you’ll need a crypto wallet to purchase Bitcoin and other cryptocurrencies. Luckily, some platforms feature built in crypto wallets.

Can I buy Bitcoin in UAE?

Yes, you can. For example, you can purchase Bitcoin through eToro after creating and verifying your account.

How much money do I need to buy Bitcoin in Dubai?

Although one Bitcoin is priced in the thousands of dollars, you can still invest in Bitcoin by purchasing parts of the coin. The minimum you need to buy Bitcoin depends on your crypto exchange - for example, eToro requires a 10 USD minimum to Bitcoin.