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%.
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Although the UAE government has warned against investing in Bitcoin, many in Dubai are investing regardless.
Dubai does not consider Bitcoin legal tender, but there aren't restrictions on buying or selling either. Based on LocalBitcoins volume and Google Trends data, Bitcoin looks alive and well in Dubai.
If you want to buy Bitcoin, you need a way to store your investment. Storing your coins on an exchange wallet is risky because centralized exchanges are subject to hackers and theft.
Using a cold storage hardware wallet like the Ledger Nano S or the Trezor is the best way to keep your investment safe.
COMPARISON
After you buy a wallet, choose one of the exchanges above that best suits your needs in terms of limits, fees, and privacy. From there, all you have to do is verify your identity, connect your payment method, and buy Bitcoin.
You can deposit your Bitcoin from the exchange to your hardware wallet. There was only one Bitcoin ATM installed in Dubai back in March of 2019, but the authorities removed it just a few days later for non-compliance.
At the time of writing, there aren't any Bitcoin ATMs available for use in Dubai, but there is one Bitcoin teller.
Despite retracing significantly since Bitcoin's major run in late 2017, Bitcoin volume in Dubai on LocalBitcoins seems to be steady.
Dubai is an important economic center of the United Arab Emirates, not to mention its largest city and the focal point of advanced technologies.
Cryptocurrency has been met with friendly legislation when compared to the rest of the UAE. The less developed countries in the surrounding area buy their Bitcoin in Dubai due to hyperinflation in their home countries.
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Dubai 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.
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There are three main types of Bitcoin wallet and all of them are supported in Dubai:
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.
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In October of 2019, social media influencer and scammer Aziz Mirza was arrested in Dubai for defrauding investors in his "Bitcoin of the Middle East" Habibi Coin. Habibi Coin was supposed to be a "real-estate backed" cryptocurrency.
You can take a look at a promotional video for the now-defunct Habibi Coin below:
Unfortunately for its investors, most of whom belonged to the Muslim Entrepreneur Network facebook group, Habibi Coin was just a scam to get investors into fake real-estate deals that enriched Mirza who never bought any real estate. In total, 1,500 people signed up to join his program at £5,000 minimum per person.
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If you want to acquire Bitcoin as quickly and efficiently as possible, buying it directly from an exchange or peer is your best option.
More tech-savvy individuals may opt to mine their Bitcoin instead, but mining requires expensive hardware, lots of electricity, and a ton of time.
Large operations in countries with cheap electricity are responsible for the majority of Bitcoin mining. These operations can turn a profit at scale, under the right conditions.
For example, this mining operation in China:
But unfortunately, Bitcoin mining is not profitable for the average Joe, thanks to the price of electricity and the increasing Bitcoin block difficulty.
However, electricity costs in the UAE aren't high by any stretch of the imagination. Coming in at 0.296 Dirham per kWh ($0.08), the UAE has cheaper electricity than the United States, Canada, and many European nations.
Still, electricity in the UAE is pricier than China, home to many of the largest mining farms. If you're expecting to turn a profit, think again. Mining should only be for fun/as a hobby, not as a fast track to riches. At least, this the case for the casual investor.
For this reason, you will still be losing nearly $900 a year if you are mining in the UAE.
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Coinbase does NOT support customers in Dubai as of September of 2020.
The current price of Bitcoin in Dubai is €9,353.49, however this amount changes every minute, so always check the value on your local exchange.
Aston Plaza and Residences in Dubai were offering the first 150 residences in their tower for Bitcoin purchase only. If you wanted to pay in Cash, you had to wait. However, all of these units have been sold.
Besides Aston, There are few known developers stating publicly that they accept Bitcoin, there have been reports that many developers are open to accepting Bitcoin when offered by a prospective customer.
You can get Bitcoin debit cards in Dubai by using Pursa.co, which makes it simple to get all sorts of debit cards in many variations of fiat and Bitcoin.
Any exchange with a UAE Dirham trading pair will allow you to sell your Bitcoin for fiat currency. Rain.bh has AED trading pairs for many popular coins.
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.
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