We may receive advertising compensation when you click certain products. Before jumping into this page, an important disclosure.
You'll need a Bitcoin wallet before you buy since some exchanges require one.
Don't have a wallet? Read our guide on the best Bitcoin & cryptocurrency wallets.
This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.
Rain Rain is a crypto exchange focused on serving UAE, Saudi Arabia, Bahrain, Oman and Kuwait. They offer 24/7 support and meet all CCSS requirements as a crypto custodian and is licensed by the Central Bank of Bahrain as a Crypto Asset Brokerage.
This is an ad. We may receive compensation when you use Rain. Please visit Rain for its exact pricing terms.
Paybis Buy Now Paybis is a popular & cryptocurrency exchange. They serve 180 countries and 48 US states and are registered with FinCEN, making them a more trusted, regulated exchange. Paybis offers incredibly high limits and super fast payouts, not to mention 5 minute ID verification and nearly perfect review scores on Trustpilot.
BitOasis BitOasis is a Bitcoin platform serving the Middle East. Customers can buy bitcoin via bank transfer or cash deposit in the United Arab Emirates, Saudi Arabia, Oman, Qatar, Kuwait, and Bahrain. UAE clients may also deposit funds via exchange houses.
Bitcoin ATMs Buy Now You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they're also private. That convenience and privacy, however, comes with a price; most ATMs have fees of 5-10%.
-
Bahrain is one of the most crypto-friendly countries in the Middle East. They've approved more than 30 companies for their regulatory sandbox, many of which have become cryptocurrency exchanges or Bitcoin ATMs.
Thanks to the Central Bank of Bahrain's (CBB) crypto-friendly attitude, buying and selling Bitcoin in Bahrain is easy.
One of the easiest ways to buy Bitcoin in Bahrain is through the cryptocurrency exchanges outlined above. There are several exchanges offering Bitcoin in Bahrain, and you can easily select one based on your requirements and preferences using our guide. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be kept in mind before users select one.
Additionally, Bitcoin buyers need to keep in mind the fact that certain exchanges might require them to get a wallet of their own before they are able to buy the digital currency. Also, it is recommended to have a wallet of your own for security reasons, preferably a hardware wallet. If you don’t have a wallet, refer to our guide on the Best Bitcoin and Cryptocurrency Wallets to choose one.
COMPARISON
As of January of 2021, there are unfortunately no Bitcoin ATMs in Bahrain.
-
Bahrain has access to many large Bitcoin and cryptocurrency exchanges.
Have a look at our favorites below:
This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.
-
There are three main types of Bitcoin wallet and all of them are supported in Bahrain:
The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use. It connects to iOS, Android & desktop computers.
ZenGo is an easy-to-use iOS and Android Bitcoin & crypto wallet. Start within 20 seconds.
Electrum is a Bitcoin-only wallet that has been around since 2011. It's easy to use, but has advanced features.
-
In January of 2020, the Central Bank of Bahrain issued a warning to its citizens anunlicensed excahnge called 'bahrain.bitcoin'> The warning included screenshots of its instagram account claiming to be a licensed trading platform in Bahrain.
The CBB advised citizens to check the authenticity of financial institutions on its website before investing any sum of money.
-
For most people, buying Bitcoin directly from an exchange or a peer is the best and fastest way to acquire Bitcoin.
Mining requires a large upfront investment of time, money, and energy (no pun intended). Unfortauntely, given the current price of Bitcoin and block difficulty, mining isn't profitable.
Electricity is one of the leading factors of Bitcoin mining profitability, or any other cryptocurrency for that matter.
If the value of the tokens you're mining is greater than the cost of electricity, your mining operation will be profitable.
Unfortunately, the mining gold rush has ended, and profitably mining isn't feasible anymore for the average Joe.
Bahrain has electricity prices compared to the likes of China and India. It is less than half that of the United States.
So, if you are going to start mining, it wouldn't be a terrible idea to do it in Bahrain, thanks to their low energy costs.
But even with cheap electricity and the best mining hardware you'll have a tough time earning money.
Mining Bitcoin will require a significant upfront cost, and you most likely won't see a return on your investment. You'll spend more money on power than you'll earn in Bitcoin. Check out our Bitcoin mining calculator if you want to determine your expected margins.
-
Citizens of Bahrain can convert cryptocurrencies with fiat.
Unfortunately, at this time, there are no Bitcoin ATMs in Bahrain.
The current price of Bitcoin in Bahrain is BHD13,028.49, however this amount changes every minute, so always check the value on your local exchange.
Any exchange with a Bahraini dinar trading pair will allow you to sell your Bitcoin for fiat currency. Rain has BHD trading pairs for many popular coins.
As of January of 2021, there are unfortunately no Bitcoin ATMs in Bahrain.
LocalBitcoins is another option. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. LocalBitcoins is a peer-to-peer (P2P) exchange, where you buy and sell with another individual. This does introduce a degree of risk, though by ensuring that you conduct all business on the platform, make use of its escrow services, and only trade with users who have a good reputation, you'll minimize any potential problems.
You could also use a service like eGifter to sell your Bitcoin for gift cards.
Jordan Tuwiner is the founder of BuyBitcoinWorldwide.com. His work has been featured in The Guardian, International Business Times, Forbes, VentureBeat, CoinDesk and many other top Bitcoin media outlets. His articles are read by millions of people each year looking for the best way to buy Bitcoin and crypto in their country.
He has also written extensively about the history, technology, and business of the crypto world. Jordan is also the creator of some of the internet's most famous Bitcoin pages, including The Quotable Satoshi and Bitcoin Obituaries.
To learn more about Jordan, see his full bio.
Coinmama
