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If you want to know how to invest in Bitcoin in UAE, we recommend just a couple of things to do. Once you’ve decided on the right platform to invest in Bitcoin UAE, understand the fundamentals of how to invest in Bitcoin and make money, and a few other things, you’ll soon be able to start adding Bitcoin to your portfolio.

So how would you answer the question: is it good to invest in Bitcoin? In this guide, we’ll discuss the many ways on how to invest in Bitcoin in Dubai plus other concerns like is it halal to invest in Bitcoin and is it advisable to invest in Bitcoin now.

How to Invest in Bitcoin in UAE?

You might ask yourself, how can I invest in Bitcoin? The most direct way to do this is to buy Bitcoin through a trading platform that offers it such as eToro.

Here’s a step-by-step guide on how to invest in Bitcoin UAE through our recommended trading platform, eToro.

Step 1: Open an Account with eToro

how to invest in bitcoin

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 invest Bitcoin in UAE with eToro. First, head to the eToro website and click on the Start Investing CTA. Simply fill in an email and password to apply. If you have an existing Facebook, Google, or Apple account, you may link this to start the registration process as well.

Step 2: Upload ID

how to invest in bitcoin in uae

Because unverified accounts won’t be able to hold any funds, you’ll need to verify your account by uploading a valid ID. The platform will prompt you to verify your account by uploading IDs such as a driver’s license or passport.

Step 3: Deposit Funds

invest in bitcoin

Now that your account has been verified, you can deposit your funds into it. With eToro, there are multiple deposit options from wire transfer, bank cards like Visa and MasterCard, and other e-payment methods like PayPal. The minimum deposit requirement is US$50.

Step 4: Buy Cryptos

With your account now funded, you can now invest in Bitcoin UAE! On the eToro dashboard, search for BTC or Bitcoin. Click on the Trade Now button to open an overview of Bitcoin and proceed to buy the underlying asset.

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 Bitcoin in UAE?

One of the first things to discuss when learning how to invest in Bitcoin in the UAE is to understand why people invest in Bitcoin in the first place. 

Bitcoin is Deflationary

Unlike fiat money which can be printed in virtually unlimited proportions, only 21 million bitcoins can ever be mined due to the way it was designed. This means that at one point in the future, all existing bitcoins would have been mined. Generally, investors would want to store value in deflationary assets rather than inflationary ones.

Secure, Transparent, and Decentralized

People often ask: is it dangerous to invest in Bitcoin? To answer that question, we first have to understand that Bitcoin is a decentralized currency. Fiat currencies are controlled by the central bank and government, centralized bodies that actually have complete control over the money. 

If you store money in a bank, for example, they can do whatever they want with it. Usually, it’s investing or loaning it, but if they want, they can print more money, stop you from borrowing any more money, and even stop you from getting a bank account. 

A centralized authority with control of money can be corrupt and do not give you complete control of the money that you store with them. Bitcoin and other cryptocurrencies on the other hand give you complete control over your money as well as complete transparency as to which coin goes whereas we’ll explain later in this How to Invest in Bitcoin for Beginners guide.

The First of its Kind

Aside from being an established asset that has been around for over a decade, Bitcoin also has value because it is the first of its kind. Widespread acceptance and use of the coin have already been made.

So is it smart to invest in Bitcoin right now? Or is it too late to invest in Bitcoin? Let’s first move on to the platforms that let you buy and sell the digital asset.

Where You Can Buy Bitcoin in UAE?

The next thing you need to consider when learning how to invest in Bitcoin and make money is to know where you can buy it. Here, we review five different platforms that let you do so as well as how much to invest in Bitcoin minimum per platform.

1. eToro – Overall Best Cryptocurrency Trading Platform

invest in bitcoin uae

If you want a smooth and simple trading experience, then you should take a look at our overall best crypto trading platform, eToro. Aside from a user-friendly interface and zero commission trading on all assets, eToro also provides many great features to keep you glued to the platform.

For Bitcoin, in particular, the eToro platform doesn’t give any fees aside from the spread which is 0.75% for the digital asset. In terms of security, 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 account and financial safety protocols.

how to invest in bitcoin and make money

So what is the minimum amount to invest in Bitcoin with eToro? It is just US$10 as the platform offers fractional trading for many of its trading instruments.

eToro fees

Fee Amount
Commodities trading fee Spread, starting from 2 pips
Forex trading fee Spread, 2.1 pips for GBP/USD
Crypto trading fee Spread, 0.75% for Bitcoin
Inactivity fee $10 a month after one year
Withdrawal fee $5 for Gold tier members and below. Free for Platinum tier and above.

Pros:

  • Spread-only investing in cryptocurrencies
  • 0% commission on all its financial instruments
  • Trade stocks, crypto, forex, ETFs, commodities, and indices
  • The minimum deposit at just US$50
  • Offers card payments, eWallets, and local bank transfers
  • Regulated by the FCA, CySEC, and ASIC
  • Beginner-friendly platform
  • Copy-trading and social trading tools
  • Mobile app available

Cons:

  • No support for MT4 and MT5
  • Lacks some advanced tools

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

how can i invest in bitcoin

Launched in 2017, the Alvexo trading platform is a regulated CFD broker with over 450 different trading instruments such as crypto, stocks, and forex. What we want to highlight about this platform is not just its zero commissions trading, but also the educational content that they offer.

minimum amount to invest in bitcoin

With Alvexo, users are invited to look into their trading academy which offers educational videos, seminars, and articles that are great for both beginner and intermediate traders. These resources can help you understand how much to invest in Bitcoin to make money, is it safe to invest in Bitcoin right now, and how to invest in Bitcoin in Dubai.

Alvexo fees:

Fee Amount
Stock trading fee Variable Spreads
Forex trading fee Variable spreads. 3.3% for EUR/USD on its Classic account
Crypto trading fee Commission
Inactivity fee US$10 per month after three months
Withdrawal fee Free

Pros:

  • Trade stocks, crypto, forex, indices, and commodities CFDs
  • FSA regulated
  • Zero commission trading
  • MT4 and WebTrader integrations
  • Trading academy with live webinars and seminars
  • Multiple advanced trading tools are available
  • Updated with market news and economic events

Cons:

  • Missing several other financial instruments
  • High US$500 minimum deposit

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. Binance - Best Crypto Exchange for New Coins

how to invest in bitcoin in dubaiBinance is one of the best crypto exchanges that feature the latest coins. Of course, users can easily buy and invest in Bitcoin UAE through their highly systematic platform. Other crypto investing products are available on Binance such as staking, rewards, and a non-fungible token (NFT) marketplace.

is it good to invest in bitcoin

With a collection of over 500 cryptocurrencies and virtual tokens, users can really diversify their crypto portfolios through Binance. Those seeking accessibility and flexibility as well as a strong immersion to the crypto sphere should definitely check out the crypto exchange.

Binance fees

Fee Amount
Crypto trading fee Commission, starting from 0.1%
Inactivity fee Free
Withdrawal fee 7.50 uaeR

Pros:

  • Hundreds of billions in trading volume per day
  • Highly liquid markets as a central exchange
  • Provides support for hundreds of cryptocurrency pairs
  • Bank cards available for deposit options at almost instant speeds
  • Commissions start at just 0.1% per slide
  • Earn a 25% discount when using Binance Coin (BNB) for fees
  • Earn from cryptocurrency holdings - based on the Binance Earn review
  • Provides cryptocurrency savings accounts

Cons:

  • Not FCA regulated
  • Not a decentralised exchange

Cryptoassets are speculative and carry high volatility levels. Always consider the risks involved. 

4. Coinbase - Great Beginner Platform for Crypto UAE

should i invest in bitcoin

The next crypto exchange on our list is Coinbase, the online crypto exchange for beginners. Not only do Coinbase users have the option of trading 50 different cryptocurrencies but they also have access to many educational articles great for beginners.

is it halal to invest in bitcoin

If you’re a beginner with many different questions on crypto such as how much should I invest in Bitcoin and how do I invest in Bitcoin, then Coinbase is worth considering. A great benefit of using this platform is that all users have access to Coinbase Pro which has lower fees and more cryptos to trade as well.

Coinbase fees

Fee Amount
Crypto trading fee Commission, starting from 0.50%
Inactivity fee Free
Withdrawal fee 1.49% to a U.S. bank account

 

Pros:

  • Over 100 tradable cryptocurrencies
  • Great for beginners
  • Easy-to-use platform
  • Registered as a Money Services Business with FinCEN
  • Tons of crypto-related educational resources
  • 24/7 live phone support
  • Supports debit cards and bank transfers
  • Top-rated mobile app
  • Offers a crypto asset wallet

Cons:

  • Limited trading tools
  • No copy trading or social trading features
  • Crypto only – unable to invest in other assets like stocks

Your money is at risk.

5. Crypto.com - Fast and Secure Cryptocurrency Exchange

is it advisable to invest in bitcoin now

Crypto.com is perhaps one of the fastest and most secure crypto exchanges in the industry. With over 250 tradable cryptocurrencies and stablecoins under its belt, it also offers many different coins that rival other larger exchanges.

Not only does Crypto.com feature integrations in decentralized finance (DeFi), but it also offers a crypto wallet that enables a 14% per annum return when staking stablecoins.

is it too late to invest in bitcoin

Furthermore, those looking to trade crypto derivatives might want to take a look at what Crypto.com has to offer in this regard. They let you take on leveraged positions through perpetual and futures contracts that go as high as 1:100. The minimum investment per transaction for Crypto.com is US$1.

Crypto.com fees

Fee Amount
Crypto trading fee 0.04% maker and taker fees
Inactivity fee Free
Withdrawal fee According to the currency withdrawn. 0.0004 for BTC

Pros:

  • Supports over 250 cryptocurrencies and stablecoins
  • 14% annual returns on staking stablecoin on the platform
  • Spend with the Crypto.com Visa Card and get up to 8% back
  • NFT marketplace available
  • Multiple DeFi integrations on the site
  • Fees that are competitive, transparent, and offer discounts
  • Support a cryptocurrency ecosystem

Cons:

  • Higher fees unless you use CRO
  • Difficult to navigate trading fee discounts

Your capital is at risk.

Invest in Bitcoin UAE - Fee Comparison

Here is a table of the fees from the best crypto exchanges that you can check out when looking into how to invest in Bitcoin in UAE.

  eToro Alvexo Binance Coinbase Crypto.com
Crypto Trading Fee Spread, 0.75% for Bitcoin Commission Commission, starting from 0.1% Commission, 0.034% 0.04% maker and taker fees
Inactivity Fee $10 a month after one year US$10 per month after three months Free Free Free
Withdrawal Fee $5 for Gold tier members and below. Free for Platinum tier and above. Free 7.5 AED 1.49% for a US bank account According to the currency withdrawn. 0.0004 for BTC

What is Blockchain?

how to invest in bitcoin uae

It’s essential to understand what a blockchain is when discussing how to invest in Bitcoin in Dubai. In a blockchain, a block is just a collection of records. In Bitcoin specifically, the information stored is of transactions which is known as a ledger. Because there is only a limited number of data that can be stored per block, more blocks have to be added to increase the amount of data held.

Bitcoin has an average of around 1,500 transactions per block, and since there are definitely more transactions for Bitcoin than that, then the network has to chain several blocks - hence the blockchain. 

Now, the next important thing to understand about blockchains is that they are decentralized. Essentially, blocks are not stored in just one place, but in several nodes across the system. This means that virtually no one entity can input or change the data in the entire blockchain.

Another property of blockchain technology is that in order to add blocks to the network, they must be mined in the case of Bitcoin. Since Bitcoin uses the Proof of Work (PoW) consensus model, time and computing power must be spent to solve the hashing function that is required to add blocks to the network. However, miners of the Bitcoin blockchain are rewarded through the native token of the blockchain which also happens to be Bitcoin.

What to know before you buy Bitcoin

Now the next thing you might ask is: is it good to invest in Bitcoin now? Before answering this, we recommend a few things you should know.

Crypto Volatility

Bitcoin, along with the rest of the cryptocurrencies, is known as a highly volatile asset. This means that at any given time the prices of these digital assets can shoot up quickly and fall down just as fast. Now, depending on your strategy, crypto volatility can be good or bad. Generally, however, volatility in price brings about more risk.

Transactions are Public

As part of its decentralized nature, all of Bitcoin’s transactions can be viewed publicly. Literally, anyone who wants to can have the many Bitcoin transactions and look at them. Although it might seem that public access to your personal transactions is scary, this is a good thing as it allows anyone the ability to mine and validate these transactions.

Anonymous Addresses

Another thing to know about Bitcoin is that transactions happen from one Bitcoin wallet to another. Wallet addresses, letters, and numbers are used in  Bitcoin transactions, and in order to check your account balance and transaction history, anyone checking your wallet address will need to know your wallet address.

Bitcoin Price Forecast 2022

is it safe to invest in bitcoin

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.

Using technical analysis which is not the entire perspective or aspect when it comes to price forecasts, we can look at how Bitcoin’s price might move in the future. In 2021 it 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.

Is Bitcoin a Good Investment?

Everyone wants to know: is it good to invest in Bitcoin? Ultimately, the decision will be up to you based on the risk factors, your tolerance, and your understanding of the market and its relationship with cryptocurrencies.

What we can offer is the basis of what we do know, which is that there are tens of millions who have invested in Bitcoin and that the digital asset has reached a trillion-dollar market cap in the past.

Bitcoin vs. Other Investments

Of course, Bitcoin is not the only investment you can make out there, so how to invest in Bitcoin in UAE might not be your only concern. For one, you can consider other crypto investments like Ethereum and Litecoin. These offer an entirely different system and use case compared to Bitcoin itself.

There’s also the stock market which is known to be a popular short-term investment category like Bitcoin. The stock market lets you invest in actual companies that have the opportunity to grow in the future. 

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 to Invest in Bitcoin in Dubai - Pros & Cons

Many believe that it will be difficult to learn how to invest in Bitcoin UAE, but if you know how easy it is to enroll in mainstream trading platforms, then you know it’s easy to invest in Bitcoin UAE.

Below is a short summary of how to invest in Bitcoin UAE:

  • Register with eToro - Create an account and upload the necessary valid documents to get verified.
  • Bank cards, wire transfers, and other e-payments are available to fund your account.
  • Look for the Bitcoin tradable asset on the dashboard.
  • With just a minimum of US$10, you can buy Bitcoin after pressing the Trade Now button and clicking on Buy.

How to Store Your Bitcoin in a Secure Wallet?

eToro Money Wallet

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Earlier, we reviewed eToro and how it is our overall recommended platform to invest in Bitcoin UAE. If you didn’t already know, eToro has a built in crypto wallet called the eToro Money Wallet which allows you to fully control the Bitcoin that you buy. Once you have bought Bitcoin through the Etoro exchange platform, you can easily transfer the crypto asset to your eToro Money Wallet.

Coinbase Wallet

The Coinbase wallet offers support for over 4,000 crypto assets and a plethora of dApps. So not only can you safely store the Bitcoin in your wallet but you can also explore the decentralized web through the Coinbase wallet app. Enjoy industry-leading security as well.

Binance Exchange Wallet

Officially, the crypto wallet used for Binance is the Trust wallet which can be installed in both iOS and Android devices. The Binance Trust Wallet also lets you use decentralized apps, staking services, and other features that let you earn passive income from your cryptocurrencies. You can also use this wallet to swap cryptocurrencies on different DEXs. 

Compare Dubai Bitcoin Exchanges

  eToro Alvexo Binance Coinbase Crypto.com
Regulatory/Safety bodies FCA, CySEC FSA FCA MSB, FinCEN FDIC
Minimum deposit US$50 US$500 None None US$1
Number of cryptos 49 22 500+ 50+ 100+

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.

Is Bitcoin mining a better investment?

As mentioned earlier in this How to Invest in Bitcoin in UAE guide, anyone can mine Bitcoin. However, if Bitcoin mining is a better investment is an entirely different question altogether.

Some of the things that you have to consider when Bitcoin mining is computational power, electricity costs, and even timing. Despite several major crypto mining companies out there like Marathon Digital Holdings and Riot Blockchain, some individuals still mine Bitcoin with their hardware setups.

Is Bitcoin staking a better investment?

Because Bitcoin works under the PoW consensus model, you cannot actually stake the digital asset to earn money.

Taxes and Regulations Regarding Bitcoin in UAE

Presently, no regulations on crypto assets are expressly mentioned on legal frameworks for the UAE. However, crypto assets are regulated in Onshore UAE, the Abu Dhabi Global Market (ADGM), and the Dubai International Financial Centre (DIFC). 

Conclusion

Overall, we still recommend eToro for those looking to invest in Bitcoin UAE. With an easy-to-use platform, zero commissions, and other usable features, we wouldn’t recommend any other for most use cases.

If you want to invest in Bitcoin UAE with a 0% commission, click on the link below and start investing in crypto with eToro!

eToro – Buy Bitcoin With 0% Commission in UAE

is it safe to invest in bitcoin right now

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

How much to invest in Bitcoin?

The amount that’s required to invest in Bitcoin depends on how much capital you are willing to place away for crypto. Many platforms don’t require high amounts of capital to start investing in crypto. In eToro for example, you can open a Bitcoin position with a minimum of US$10.

How many people are investing in Bitcoin?

With a current market cap of $824 billion and reaching a peak of $1 trillion back in 2021, there are an estimated 79 million unique Bitcoin wallets.

How to learn to invest in Bitcoin?

There are many ways to learn how to invest in Bitcoin and some crypto trading platforms like eToro have beginner-friendly guides to get started. Other platforms even offer free trading courses and other educational resources and seminars.

How to invest in Bitcoin ETF?

Even if your broker does not offer Bitcoin trading, you can still invest in the price action of Bitcoin via a Bitcoin ETF. Check if your broker has the Bitcoin ETF or other crypto ETFs available such as the BITO.

Are banks investing in Bitcoin?

Yes, many major institutions have invested quite heavily in Bitcoin. Big names like Standard Chartered and Morgan Stanley have invested in Bitcoin and other cryptocurrencies.

What is the best crypto to invest in?

Ultimately, the best crypto to invest in will depend on your time frame and overall attitude to the digital asset. Generally, users looking to invest long term would look to huge names like Bitcoin and Ethereum for their crypto investments. Others look to more niche crypto to invest in that promises to offer tons of value in the future.

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About Jose Rafael Aquino
About Jose Rafael Aquino

Jose Rafael Aquino is a Filipino writer and entrepreneur that specializes in finance, technology, cryptocurrency, and sports. Versed in the startup tech space, he has written for websites such as The GUIDON, StockApps, and BuyShares.