Buy Crypto & Bitcoin in Saudi Arabia

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.

  • Popular Exchanges to Buy Crypto & Bitcoin in Saudi Arabia
  • Rain
    • Exchange for Saudi Arabi, Oman, Kuwait, Bahrin, UAE
    • Rain is based in Middle East
    • High buying limits
  • eToro
    • Supports Bitcoin, Ethereum & 15 other coins
    • Start trading fast; high limits
    • Clean & easy trading interface

    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.

RainRain Buy Now

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.

Pros
  • Middle East Exchange based in Bahrain
  • Low fees
  • 24/7 customer support
  • Licensed by Central Bank of Bahrain
Cons
  • Brokerage only - order book coming soon
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Ease of Use
Easy
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Privacy
Low
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Speed
Average
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Fees
Low
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Reputation
Trusted
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Limits
High
Buy Now

eToroeToro Buy Now Read Review

eToro is a trading platform and crypto exchange. It supports Bitcoin, Ethereum, Litecoin, Zcash and many other coins.

Deposits can be made quickly via bank transfer, SEPA, NETELLER, PayPal and more. It also offers unique features like copy trading.

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.

Pros
  • Offers unique copy trading feature
  • Trusted exchange that has been active in traditional finance
  • Interface is clean and easy to use
Cons
  • You cannot deposit cryptocurrency, but you can deposit with other payment methods
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Ease of Use
Easy
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Privacy
Low
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Speed
Average
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Fees
Low
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Reputation
Trusted
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Limits
High
Buy Now Read Review

CoinmamaCoinmama Buy Now 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.

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
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Ease of Use
Easy
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Privacy
Low
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Speed
Fast
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Fees
Average
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Reputation
Trusted
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Limits
High
Buy Now Read Review

PaybisPaybis 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.

Pros
  • 24/7 live support
  • Extremily high limits
  • 5 Minute verification
  • Get payouts fast
  • Large selection of payment methods
Cons
  • No traditional orderbook for advanced traders
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Ease of Use
Easy
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Privacy
Low
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Speed
Average
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Fees
Low
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Reputation
Trusted
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Limits
High
Buy Now

BitOasisBitOasis Buy Now

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
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Ease of Use
Hard
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Privacy
Low
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Speed
Average
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Fees
Low
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Reputation
Trusted
limits icon
Limits
High
Buy Now

Bitcoin ATMsBitcoin 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%.

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 Now

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Bitcoin & Cryptocurrency Trading in Saudi Arabia


Bitcoin is legal in Saudi Arabia and there are no restrictions on individuals purchasing or spending Bitcoin. Banks, on the other hand, are banned from dealing with the cryptocurrency. The Saudi Arabian Monetary Authority has warned against Bitcoin as it is not monitored or supported by any regulatory body. Additionally, concerns have been raised over Bitcoin's role in crypto in crypto-malware such as WannaCry and Petya.

As we will discuss later, however, the Saudi Arabian government clearly sees merit in blockchain technology and is actively working to implement it into its financial systems.

There are a range of international exchanges such as CoinMama open to Saudi Arabian cryptocurrency enthusiasts, and some polished regional offerings such as BitOasis and Rain, which we will cover below.


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Top Bitcoin & Cryptocurrency Exchanges in Saudi Arabia


  • Popular Exchanges to Buy Crypto & Bitcoin in Saudi Arabia
  • Rain
    • Exchange for Saudi Arabi, Oman, Kuwait, Bahrin, UAE
    • Rain is based in Middle East
    • High buying limits
  • eToro
    • Supports Bitcoin, Ethereum & 15 other coins
    • Start trading fast; high limits
    • Clean & easy trading interface

    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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Best Bitcoin Wallets for Saudi Arabia



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

  • 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.

Best for Security

ledger nano x

Ledger Nano X

Secure storage for any cryptocurrency

Learn More

The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use. It connects to iOS, Android & desktop computers.

Temporary Wallet

zengo wallet logo

Zengo

Best for storing crypto for short period of time

Visit Zengo

ZenGo is an easy-to-use iOS and Android Bitcoin & crypto wallet. Start within 20 seconds.

Best for Desktop

electrum logo

Electrum

Simple yet powerful desktop wallet

Learn More

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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More Bitcoin Exchanges in Saudi Arabia


BitOasis

BitOasis is a UAE-based exchange that serves customers across the Middle East and North Africa. It is currently available to customers in Saudi Arabia, the UAE, Bahrain, Kuwait, Oman, Jordan, Egypt, and Morocco.

BitOasis has two main interfaces, Core and Pro.



This is the beginner-friendly interface, where you can easily buy and sell Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin, Ethereum Classic, and Stellar.

BitOasis Pro is a trading interface. The Pro version allows for advanced order types and gives access to charting tools and BitOasis's orderbooks.



The one fiat currency that BitOasis supports is the UAE Dirham. Users can trade all digital assets against the AED pair, where fees start at 0.5% for taker orders and 0.25% for maker orders. Fees for digital asset pairs (i.e. ETH-BTC) are lower, at 0.1% for maker orders and 0.15% for taker.

You AED balance can be withdrawn to any bank account located in the United Arab Emirates, Saudi Arabia, Kuwait, or Bahrain. Users in Oman may withdraw AED to their account after providing BitOasis with their IBAN number.

Rain

Rain is a cryptocurrency exchange located in Bahrain and licensed and regulated by the Central Bank of Bahrain (CBB) as an approved crypto-asset brokerage.



One reason to consider Rain is the large number of fiat trading pairs it offers. Users can trade with Emirati dirhams (AED), Bahraini dinar (BHD), Kuwaiti dinar (KWD), Omani rial (OMR), Saudi riyal (SAR), and United States dollars (USD).



Fees are high, more comparable to fiat on/off ramp like Coinbase than a trading exchange like Binance or BitOasis. Users pay a 1.5% fee on all transactions funded via bank transfer, and 4% on transactions paid for with a debit or credit card.

Deposits are free, as are fiat currency withdrawls inside Bahrain. Bank transfers outside of Bahrain will incur a 50 SAR flat fee.

Withdrawals of Bitcoin or Ethereum will incur a dynamic network fee, which varies depending on netowrk congestion. Withdrawals of Litecoin and XRP are free.


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Exchange Hacks and Crypto Scams in Saudi Arabia


SmartRiyal and CryptoRial

Saudi Arabia's approach to Bitcoin and blockchain is similar to China's: against the former, in favor of the latter. The Kingdom has invested heavily in tech-focused projects, such as the planned smart city and tourism hub of Neom.

You can see Caspian Report's awesome video on Neom below:



This is part of Saudi Vision 2030, which is a wide-ranging plan to position Saudi Arabia at the forefront of international development as well as to rehabilitate the Kingdom's image to foreign investors.

Neom is located in the far north-west of Saudi Arabia, by the Red Sea near Jordan and Egypt. The city, which will cover a vast area of 26,500 km2 (10,200 sq mi), will be entirely powered by renewable energy. It will also feature technology such as flying cars, robot dinosaurs and a giant artificial moon. Completion of the first stage is expected in 2025.

With these kinds of ambitious goals included in the project, it's perhaps not surprising that someone took advantage of the hype to promote two cryptocurrencies which they claimed were tied to the development of Neom. SmartRiyal and CryptoRial were two cryptocurrencies issued by a Singaporean firm that purported to finance the construction of the smart city.

The Saudi Ministry of Finance warned in August 2019 that the cryptocurrencies were in no way linked to Neom.“Any use of the KSA name, national currency or national emblem by any entity for virtual or digital currencies marketing will be subject to legal action by the competent authorities in the Kingdom,” the statement continued.

Most mentions of the project seem to be scrubbed from the internet, and CryptoRiyal.io is inaccessible. Yet a cached version of the website shows CryptoRiyal's promoters being remarkably honest even while they fraudulently claim that "CryptoRiyal was created to meet the needs of Neom City, Saudi Arabia’s newly constructed metropolis running entirely on renewable energy."



"Financing the city of Neom is the ultimate goal of the project," CryptoRiyal's creators say, "but its execution may prove difficult…"

The token is now not listed on any exchange and is essentially worthless, so the team's initial outlook was not far off the mark.


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FAQ


Does Coinbase work in Saudi Arabia?

Coinbase is not available in Saudi Arabia.

See above for a list of exchanges that do serve Saudi Arabian customers.

Where Can I Find a Bitcoin ATM in Saudi Arabia?

Bitcoin ATMs are a convenient way to buy and sell Bitcoin and other cryptocurrencies for cold hard cash. This method usually incurs relatively high (5-10%) fees, but that's the price to be paid for the convenience of getting cash for your Bitcoin in less than half an hour.

Many ATM operators publish live prices for their machines, so you can see the exact rate you'll get before even visiting the ATM.

Some will require you to complete identity verification, though for many this is as simple as confirming a phone number.

Our Bitcoin ATM locator lists just one Bitcoin ATM in Saudi Arabia, located in Jeddah.



As you can see, the fees are steep (20% spread from Coinbase), but if you really need a Bitcoin ATM in Saudi Arabia then this is your only choice.

Is Saudi Arabia Issuing Its Own Cryptocurrency?

Central Bank Digital Currencies (CBDCs) are seen by governments around the world as a way to harness the power of blockchain technology while keeping it firmly within the purview of the state.

In November 2019, Saudi Crown Prince Mohammed bin Salman visited the United Arab Emirates to discuss a range of joint policiy initiatives, including a digital currency platform that would smooth inter-bank transfers between the two countries. The goal of Project Aber, as the proof-of-concept is named, is to make trade and remittances between Saudi Arabia and its neighbor to the north-east quicker, safer, and cheaper.



The UAE has taken a hands-on approach to cryptocurrency. The UAE's Securities and Commodities Authority (SCA) unveiled a plan in September 2019 to legalize and regulate initial coin offerings (ICOs) as financial securities. In 2018, Abu Dhabi's Al Hilal Bank successfully issued a $500 MM sukuk, which is a type of sharia compliant bond.

Saudi Arabia sees its smaller neighbor as the perfect proving ground for new technologies while it takes a more conservative approach. It remains to be seen how the proof-of-concept progresses, and if it expands beyond bank server rooms to reach the general public, but it's definitely a step toward Saudi Arabia embracing blockchain technology.

Are There Any Bitcoin Debit Cards Available in Saudi Arabia?

Bitpay No
Cryptopay No
MCO No
Revolut No
Uquid Available to existing Uquid customers in Saudi Arabia
Wirex No

As of September 2020, Uquid is the only Bitcoin debit card provider to serve to its existing Saudi Arabian users.



Uquid offers virtual and physical debit cards, both of which can be topped up with Bitcoin and linked to PayPal and other online payment services. Physical cards can be used for ATM withdrawals, while POS transactions are fee-free. Both are valid for three years.

No identity verification is required if you stay under $1000/£1000/€1000 limit over the lifetime of the card. Beyond that, you'll need to provide identity verification and proof of address.

What is the Price of Bitcoin in Saudi Arabia?

The best way to check the price of Bitcoin in Saudi Arabia is to go the your exchange of choice and check the price in your local currency that Bitcoin last sold for. The price of an asset is just this - the value of the compensation for which it was most recently exchanged. This price differs across markets, i.e. one exchange may have a slightly lower or higher price depending on varying barriers to entry and liquidity. So, the price that most matters is the one you can actually trade at. This is most likely to be the price on the exchange you use the most.


bitcoin price ticker

See above for a list of the best Bitcoin exchanges in Saudi Arabia.

There are also a range of websites such as CoinMarketCap and Nomics that list the prices of hundreds of digital assets, drawn from a range of exchanges and averaged out.

How Do I Cash Out Of Bitcoin in Saudi Arabia?

The easiest way to cash out of Bitcoin in Saudi Arabia is to use an exchange that supports withdrawals of your preferred fiat currency. This could be USD, EUR, or SAR. BitOasis allows users located in the United Arab Emirates, Saudi Arabia, Kuwait, and Bahrain to withdraw AED to the bank account reigstered with the exchange.

The abovementioned Bitcoin debit cards allow you to withdraw cash from any ATM. If you're able to get your hands on a Uquid debit card, this may be the easiest way to convert your Bitcoin into cash.

Bitcoin ATMs are another way to exchange your BTC for fiat currency. There is just the one in Saudi Arabia, located in Jeddah.


bitcoin atm map

LocalBitcoins and other P2P exchanges are 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.


localbitcoins offers

As selling Bitcoin for fiat currency is usually considered a taxable event, you'll want to make sure you comply with local regulations regarding taxation of capital gains. Check out our guide to the best cryptocurrency tax software to help you maximize your profits.

About the Author: Jordan Tuwiner

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.