Best Crypto Exchange in Oman 2024

Oman is one of the most vibrant countries in the Middle East. With an estimated population of 5 million people, this prosperous nation is also quickly becoming a major crypto hub. As the interest in crypto ramps up, finding the best crypto exchange in Oman for residents looking to get their hands on cryptocurrencies is necessary.

This article explores the best crypto exchanges in Oman. We also provide a walkthrough on how to sign up on a reputable low-fee exchange to buy cryptocurrencies today.

The Top Bitcoin Exchanges in Oman Reviewed

Now, let’s take a closer look at the best cryptocurrency exchanges in Oman to see what they have to offer:

1. Crypto.com: Best Crypto Exchange with Huge Selection of Assets

When looking for the best crypto exchange in Oman, one of the biggest considerations for most investors is the abundance of passive income opportunities. This is where Crypto.com thrives as one of the biggest crypto exchanges in the globe.

Based in Singapore, Crypto.com has been operating since 2016. The Crypto.com exchange operates in over 50 countries, with oversight from multiple top-tier financial watchdogs.

Crypto.com is one of the best trading platforms available and it’s affordable too.

The broker charges fees based on customer tiers. Level One customers are charged 0.4% on trades, while Level Two users pay 0.35%. Traders can also obtain a 10% discount by paying the fees with the exchange’s native CRO token.

Besides its low fees, Crypto.com also thrives in other areas. Support for over 250 coins makes this exchange highly liquid, and it is quite easy for beginners to use as well.

Investors who want to buy cryptocurrency on Crypto.com can do so with direct crypto deposits or ACH transfers. However the minimum balance is $20, and the exchange does not charge for deposits (7.70 Omani rials).

Passive traders can take advantage of Crypto.com’s staking service, which offers annual yields of up to 14.5%. Users can also sign up for the Crypto.com debit card to receive up to 8% cashback and other benefits when they spend their coins.

As one of the best crypto exchanges in Oman, Crypto.com prioritises security. The exchange keeps user funds safe thanks to features like multi-factor authentication (MFA) and whitelisting. The Bitcoin exchange also stores 98% of customer deposits in cold wallets, away from hackers’ reach.

Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.

2. Coinbase: Best Omani Exchange for Beginners

Coinbase, one of the world’s largest crypto exchanges, also works for investors in Oman. The exchange coasts off its user-friendly platform and seamless trading process, offering an impressive experience for beginners.

Based in San Francisco, Coinbase is a registered and regulated broker. It is outstanding among the best Oman crypto exchanges for its ease of use. The Bitcoin exchange offers a well laid-out platform, which works well for beginners, and a minimum balance of 0.77 Omani rials. Support for over 10,000 assets provides a multitude of options for day trading cryptocurrencies with low risk

Users can buy Solana and any other crypto of choice on Coinbase using various methods. These options ranges from direct transfers to cards, bank transfers, and payment processors. These methods carry fees – except for direct crypto transfers, which only attract network fees.

Trading fees on Coinbase vary between 0.5% and 4.5%. Investors who are not active traders can use Coinbase’s Earn program or stablecoin staking service to earn up to 5% in annual interest yields.

As for security, Coinbase protects customer funds using procedures like MFA and cold storage. The exchange also provides a comprehensive insurance policy to protect assets held online.

Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.

3. Binance: The Crypto Market’s Global Leader

Given its position in the market, it’s easy to see why many may consider Binance to be the best Bitcoin exchange in Oman.

Launched in 2017, Binance is currently the world’s largest crypto exchange by trading volume hence why it makes our roundup of the best Oman crypto exchanges. It operates in over 100 countries, holding a license from Dubai’s Virtual Asset Regulatory Authority (VARA) and other top-tier global agencies.

As one of the market’s leaders, liquidity is no issue for Binance. The exchange supports over 600 coins and trading pairs, making it a great option for investors. Binance’s minimum balance of 0.39 Omani rials indicates that it allows investors to begin their crypto journey with very little capital.

Investors can buy crypto on Binance using bank transfers, cards, payment processors, and e-wallets. The Bitcoin exchange’s trading fees stand at 0.1%, although traders can get a 25% discount by paying with Binance Coin (BNB).

Security on Binance is also top-notch, with the broker implementing 2FA, cold storage, and behavioural analytics to protect customer funds.

Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.

4. BitOasis: Local Middle Eastern Registered Exchange

Based in Qatar, BitOasis operates with a license from the Financial Services Regulatory Authority (FSRA). On its website, BitOasis claims that it is in the process of becoming an FSRA-licensed virtual asset multilateral trading facility (MTF).

Currently, BitOasis supports over 40 cryptocurrencies on its platform. The Bitcoin exchange is liquid, and investors can make asset deposits and process withdrawals using e-wallet payment processors, direct crypto transfers, or card payments. Payment processor and card transaction fees vary based on the investor’s chosen channel.

BitOasis is also popular for offering zero-commission trades making it one of the best Oman crypto exchanges for low commission trades. With both a basic exchange and a professional trading service, active and passive investors have enough facilities to choose from.

Security on BitOasis is ensured through the use of 2FA and location-based monitoring. The broker also offers a multi-signature wallet for interested investors.

Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.

5. Rain: Top Oman Bitcoin Exchange for Zero Fees

Rain is one of the top crypto exchanges in Oman. The platform offers access to over 50 digital assets, allowing users to trade seamlessly.

The best thing about the platform is its fee structure. Rain charges 0% for trades as well as local deposits and withdrawals. Also, the exchange charges a dynamic sending fee for Bitcoin and Ethereum transactions due to the network fees the blockchains command.

Rain is highly intuitive and user-friendly, and users can easily navigate the Bitcoin exchange. The platform does not state a minimum deposit for users to get started. However, it offers a Pro trading platform for institutional users making it one of the best Oman crypto exchanges for user diversity.

Rain users gain access to 2FA and address whitelisting. The Central Bank of Oman regulates the platform as a Category 3 crypto asset service provider (CASP). Supported payment methods include bank wire transfers, credit/debit cards, and e-wallet solutions.

6. Paybis: Top Crypto Exchange with Fiat Support

Rounding up our best crypto exchange in Oman list is Paybis. The platform is based in the United Kingdom but has since expanded its operations to over 180 countries. Paybis features over 400 digital assets, including Bitcoin, Ethereum, and Cardano.

To enable direct crypto purchases, Paybis allows users to fund their accounts with 47+ international currencies. This cuts through the exchange costs and allows users to get more value for their money. Paybis supports bank wire transfers, credit/debit cards, and e-wallet solutions like Neteller.

Minimum investments are divided into packages. The least amount starts at $1,000. Fees are not explicitly stated. The platform only promises a first commission-free purchase for Bitcoin with a credit card. But the platform is user-friendly and intuitive, as new users can easily find their way around the exchange.

Paybis is regulated by the Financial Crimes Enforcement Network (FinCEN) and the Financial Conduct Authority (FCA).

The Best Oman Crypto Exchanges Compared

Below, you can find a recap of the best cryptocurrency exchanges in Oman and how they compare based on several key metrics.

How to Choose the Best Oman Cryptocurrency Exchange for You

Choosing the best crypto exchange in Oman is not an easy task. However, using some critical determinants will help an investor select an exchange that suits their preference. Here are a few determinants:

1. Regulation

Regulation is the number one factor to consider before selecting any Oman Bitcoin exchange. A regulated entity follows official laid-down rules and has a recognised way of doing business. Regulation is a key part of investor protection. The more regulatory licenses a Bitcoin exchange has the better-protected investor funds and personal details. The best Oman crypto exchanges are usually regulated.

2. Tradable Cryptos

The crypto market has on record over 19,700 digital assets. While only a number of them are top-performing, new alternative currencies (altcoins) are making waves. An example is the Dogecoin killer, Shiba Inu, which surged 21,000% when it hit mainstream consciousness. A crypto exchange with a large library of digital assets will better empower users to tap into profitable opportunities. This inevitably gives more options and makes it easier for users to diversify their portfolios.

3. Sign up Offers

Although not a critical requirement, users should also look out for sign up or bonus offers. To attract new users, several crypto exchanges have juicy deals. Although meant for a limited time, this bonus can further increase an investor’s potential profit in a trade.

4. Fees

Fees are the bane of several investors and a principal requirement in selecting the best Bitcoin exchange in Oman. Only use a platform that offers low or reasonable fees. Also, look out for hidden charges, like account maintenance or overnight fees. These surreptitious mechanisms can nip an investor’s profits in the bud in the long run.

5. Tools & Features

Aside from the fees, another thing to look out for is the unique features a platform is prominent for. These unique features are usually their selling point, and every Bitcoin exchange has one. Copy trading is available on a range of platforms, where you can have your funds follow the trades of a person you choose.

6. Payment Methods

A platform with multiple payment methods offers fluidity. Some of the best crypto exchanges in Oman offer a mixture of both traditional and decentralized payment solutions. Users can easily make payments using a bank wire transfer for volume deposits or withdrawals, credit/debit cards, PayPal, and Skrill. This offering provides options and allows users to choose the best low-cost method to deposit or withdraw their earnings.

7. Customer Service

The crypto space is seeing exponential growth in investment inflow and the rollout of services. However, the crypto industry still lags in customer support service. Several mainstream investors are still uncertain about how cryptocurrencies work, and the lack of a good customer support service has deterred many. For investors looking to come into the crypto space, we recommend using a proven Bitcoin exchange in Oman with a strong customer service track record.

How to Use an Omani Crypto Exchange

For investors ready to buy crypto, we will illustrate step-by-step how to get started on an Omani crypto exchange.

Here is how to buy crypto assets on any crypto exchange of your choice.

1. Sign up on a Platform

Select the crypto exchange platform that you want to use. Head over to the site and select the option to create a new account. You’ll be asked for some information, such as your name and contact details, and you’ll need to create a username, password, and other security.

2. Verify ID

Any regulated crypto exchange will want to confirm your identity. You’re going to be asked to provide your proof of identity, such as your ID or any other documents. You’ll also need to prove your home address, through a bank statement or similar. The process should be smooth and quick.

3. Deposit

Before you can start to buy coins, you will need to fund your trading account. Exchanges will offer an array of options, so choose one that can work with your payment tools. It will be clear on the exchange you’ve chosen how you can add money to the platform.

4. Buy Crypto

Once you’ve got money in your account, you can choose the coins you want to invest in. You should have options to browse different crpyto options and you should also be able to search for what you’re specifically looking for. There will likely be some information provided to you before you buy, like charts showing you historical prices.

There should be a button clearly labeled to help you buy your crypto of choice.

Are Crypto Exchanges Legal in Oman?

Yes, Bitcoin exchanges are legal entities. They are considered virtual asset service providers (VASPs) and operate as such. In Oman, crypto exchanges and mining firms are viewed as service providers and treated accordingly. Although cryptocurrencies are not regulated in the Middle Eastern nations, blockchain-based activities are considered legal activities.

The Omani government is currently considering regulation of the emerging industry, and currently it is legal to buy Bitcoin in Oman.

Conclusion

Crypto adoption is rising globally. While several platforms allow investors to buy Bitcoin in Oman, our top pick Crypto.com.

FAQs on Buying Bitcoin in Oman