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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.

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Few countries have embraced Bitcoin quite like Israel has. And that isn't really all that surprising. Israel, and especially its modern tech hub Tel Aviv, is one of the most advanced economies in the world, making it stand out from its neighbors in the middle east who often struggle to quell civil war and maintain property rights.

Tel Aviv - Israel's tech hub

• Tel Aviv even hosts its own Blockchain week every year.
• Bits of Gold, an Israeli Bitcoin Exchange bosts 55,000 local users.
• The number of blockchain startups grew by 32% in 2019 (that is in a bear market for Bitcoin)

These are just a few points in Israel's favor for being a major country to look out for going forward.

One of the easiest ways to buy Bitcoin in Israel, though, is through cryptocurrency exchanges. There are several exchanges offering Bitcoin in Israel, 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.

Another way to buy Bitcoins in Israel is through automated teller machines (ATMs). These ATMs allow users to instantly purchase and sell cryptocurrency using cash, and most of them don’t require any verification either, thereby ensuring the buyer’s anonymity.

Tel Aviv - courtesy Wikimedia Commons

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Israel doesn't have many large Bitcoin and cryptocurrency exchanges of its own.

Bits of Gold is probably the most popular.

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There are three main types of Bitcoin wallet and all of them are supported in Israel:

• Software (desktop or mobile - iOS and Android wallets
• Hardware wallet
• Cold-storage (paper or steel wallets, the latter of which are used to backup your main wallet.

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Digital Platinum Limited Scam

In May of 2020, the Commodities and Futures Exchange Commission charged Israelis Tal Valariola and Itay Barak of Digital Platinum Ltd. with helping US firm All In Publishing with falsely promoting binary options products to American Citizens.

The CFTC claims Digital Platinum knowingly used false customer success stories to create unrealistic expectations of returns on these products, resulting in millions of dollars of investment. The defendants are facing 4 counts of options fraud and another count of CTA fraud.

Milton Group Kyiv Call Center Scam

In August 2019, an unknown man going by the pseudonym Alexij took a job at a call center in Kyiv, Ukraine selling binary options products for a company called The Milton Group. From the early days on the job, this man noticed some very peculiar and fishy behavior about the company and very early on contacted and worked with authorities as an under-cover mole. He smuggled out documents and recordings of the company's activities and gave them to law enforcement to make a case. In March of 2020, the scam was exposed and the organizers of this scam,a group of Israeli nationals, were arrested and charged.

You can see a series of interviews with the victims below:

Coinmama Hack

In February of 2019, 450,000 Coinmama users had their usernames and passwords leaked onto the dark web. Fortunately, no coins of any kind were lost, and users who had two factor authentication enabled would have likely been protected anyway.

The hack appears to have been the work of a much larger attack on many other non-crypto related platforms such as MyFitnessPal and the Coffee Meets Bagel dating site. All of these sites used PostgreSQL database software and all seem to have fallen victim to the same vulnerability. A hacker (or group of hackers) seem to have discovered this vulnerability and exploited it on as many sites as they could.

Because Coinmama acted so fast to inform users to reset their passwords, hackers did not have time to fully exploit the leak, making the leaked data out of date.

Breaking: #Coinmama hacked and 450,000 users were effected. Make sure you change your passwords if you used the site to buy Bitcoin. pic.twitter.com/2w1OyXmpoe

— Jacob Canfield (@JacobCanfield) February 16, 2019

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Does Coinbase work in Israel?

Coinbase does NOT support customers in Israel as of September of 2020.

Where Can I Find a Bitcoin ATM in Israel?

You can find Bitcoin ATMs in the city ventre in Netanya, the wine-baair in Herzilya, the Bitcoin change and Bitcoin embassy in Tel Aviv, and the Bitmarket and the Manhattan Change in Jerusalem.

What is the price of Bitcoin in Israel?

The current price of Bitcoin in Israel is ₪36,508, however this amount changes every minute, so always check the value on your local exchange.

What is the best Bitcoin debit card for Israel?

There are currently no cards available that support ILS purchases. Most of the well-regarded Bitcoin debit cards on the market are mainly targeted at USD, GBP, and EUR users. Anywhere in Israel that will accept charges for these currencies will support cards for Wirex and Bitpay, as well as many others.

What stores accept Bitcoin in Israel?

Bitcoin is accepted at lots of stores and service providers all over Israel. So many, in fact, that we couldn't possibly list them all here. However, you can find specific kinds of services and goods filterable on a map over at coinmap.org.

The numbered areas indicate the amount of establishments that accept Bitcoin

How do I cash out of Bitcoin in Israel?

Any exchange with an Iraeli Sheqel trading pair will allow you to sell your Bitcoin for fiat currency. Coinmama has ILS trading pairs for many popular coins.

Another way to buy Bitcoins in Israel is through automated teller machines (ATMs). These ATMs allow users to instantly purchase and sell cryptocurrency using cash, however most of them require at least a phone number, so they aren't totally private.

Local Bitcoins is another option. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. Local Bitcoins 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.