Buy Bitcoin in Saudi Arabia

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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.

  • Popular Exchanges to Buy Bitcoin in Saudi Arabia
  • eToro
    • Supports Bitcoin, Ethereum & 15 other coins
    • Start trading fast; high limits
    • Your capital is at risk.

    We do not promote, endorse, or earn commissions from the trading of securities of any kind, including CFDs, however, eToro requires that we provide you with the following disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% 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.

  • Coinmama
    • Works in almost all countries
    • Highest limits for buying bitcoins with a credit card
    • Reliable and trusted broker

CoinmamaCoinmama Buy Bitcoin Read Review

Coinmama allows customers in almost every country to buy bitcoin. They charge a 4.9%-5.9% (depends on volume) fee on each purchase.

Customers in Europe can also purchase bitcoins with SEPA transfer for a lower fee.

Want to buy using Coinmama? This step-by-step guide will show you how to use Coinmama.

We may receive compensation when you use Coinmama. Please visit Coinmama for its exact pricing terms.

Pros
  • Works in almost all countries
  • Highest limits for buying bitcoins with a credit card
  • Reliable and trusted broker
Cons
  • Some of the highest fees among credit/debit card bitcoin brokers
Ease of Use
Easy
Privacy
Low
Speed
Fast
Fees
Average
Reputation
Trusted
Limits
High
Buy Bitcoin Read Review

LocalBitcoinsLocalBitcoins Buy Bitcoin Read Review

LocalBitcoins is an escrow service which also helps to match bitcoin buyers and sellers. Users may advertise trades for whichever payment method they prefer.

Buying bitcoins via an in-person meeting, secured and facilitated by LocalBitcoins, may be one of the fastest and most private ways to buy bitcoins in any country, including the United States, Europe (besides Germany), UK, Singapore, Canada, Australia and many more.

We may receive compensation when you use LocalBitcoins. Please visit LocalBitcoins for its exact pricing terms.

Pros
  • Can be private, fast and easy
  • In-person trades require no personal information
  • Purchases of bitcoin can be made quickly via cash deposit
Cons
  • Beware of scams; always follow the rules!
  • Harder to buy large amounts of bitcoins compared to large exchanges
  • Slightly to significantly higher prices than regular exchanges; premium for higher privacy
Ease of Use
Hard
Privacy
High
Speed
Fast
Fees
Low
Reputation
Trusted
Limits
Average
Buy Bitcoin Read Review

KrakenKraken Buy Bitcoin Read Review

Founded mid-2011, Kraken is the one of the world's largest cryptocurrency exchanges, and the largest in Europe based on daily average trading volume. It is available in almost all countries. Deposits can be made via bank wire, SEPA, ACH and SWIFT.

Pros
  • Very low 0.25% taker fee, falling to 0.1% with sufficient trading volume
  • Very low maker fee, falling to 0% with sufficient trading volume
  • Highly-rated for security and data protection
Cons
  • Requires ID verification, so not private
Ease of Use
Hard
Privacy
Low
Speed
Average
Fees
Low
Reputation
Trusted
Limits
High
Buy Bitcoin Read Review

BitOasisBitOasis Buy Bitcoin

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.

Pros
  • One of the best way to buy bitcoins in the countries it services
  • Multi-sig security measures
  • Low 0.5% flat fee on all orders
  • Verification not required for amounts below $500 per week
Cons
  • Above $500 per week limit, not private since identity verification is required
Ease of Use
Hard
Privacy
Low
Speed
Average
Fees
Low
Reputation
Trusted
Limits
High
Buy Bitcoin

Bitcoin ATMsBitcoin ATMs Buy Bitcoin

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%.

Pros
  • Our map makes it super easy to find a Bitcoin ATM near you
Cons
  • Bitcoin ATMs often have 5-10% fees per purchase
Buy Bitcoin

Mycelium Local TraderMycelium Local Trader Buy Bitcoin

Mycelium Local Trader helps you find local Bitcoin sellers. Once you locate a seller, you meet up in-person and conduct the trade. Mycelium charges absolutely no fees. While Mycelium Local Trader works great in highly-populated areas, users in low population areas will have trouble finding sellers.

Pros
  • Easy and cheap way to buy bitcoins with cash
  • Private way to buy bitcoins, no personal information required beyond cellphone number
Cons
  • Users in sparsely populated areas will have trouble finding sellers
Ease of Use
Average
Privacy
High
Speed
Fast
Fees
Low
Reputation
Trusted
Limits
High
Buy Bitcoin

How to Buy Bitcoin in Saudi Arabia

First thing's first, you need to have a safe and secure place to store your Bitcoin. Investing is no joke, and protecting your investment should be of the utmost priority.

While most exchanges allow you to store your Bitcoin on their platform, centralized exchange wallets are risky because they're subject to theft from hackers.

The only real way to secure your investment is with a cold storage hardware wallet like the Ledger Nano S.

Once you have your wallet situation sorted, it's time to pick an exchange. Although Bitcoin is legal in Saudia Arabia, the Saudi government has warned against trading Bitcoin and other cryptocurrencies. Saudi Arabia is less friendly towards Bitcoin than other countries like the United States.

Still, one can buy and sell Bitcoin in Saudia Arabia using one of the exchanges above, or one of the Bitcoin ATMs around the country.

After you've selected an exchange, you'll have to verify your identity and connect a fiat payment method.

From there, you can trade Bitcoin at your heart's content.

Bitcoin Popularity in Saudia Arabia

Saudi Arabia is in a weird place concerning Bitcoin. The country is known to leverage blockchain to make their cities more efficient. Yet, the Saudi Arabian Monetary Authority (SAMA) has warned Bitcoin is "high risk" and doesn't provide any protection for losses.

Furthermore, financial institutions (banks) are not allowed to get involved with crypto, like they are in Switzerland.

But that hasn't stopped many Saudi Arabian investors from buying Bitcoin and other tokens on supported exchanges like Coinmama and LocalBitcoins.

Mining Bitcoin in Saudia Arabia

If you want to acquire Bitcoin, buying it directly from an exchange or a Bitcoin ATM is your best option. Mining takes time, energy (literally), and a lot of money. It's usually not profitable.

However, of all places in the world to mine Bitcoin, Saudi Arabia is probably one of the best locations in terms of energy costs.

Since electricity is one of the leading factors in Bitcoin mining profitability, you want to mine where power is cheap, and Saudi Arabia fits the bill.

Their citizens pay roughly 0.18 Riyals per kWh ($0.48), which is cheaper than even China and India.

You can use your calculator to figure out your mining profitability based on your hardware and the price of electricity where you live.

Despite Saudi Arabia's cheap electricity, it's still recommended you don't invest in mining hardware, expecting to turn a profit.