The United Arab Emirates is looking to become a global cryptocurrency and blockchain hub. As such, buying digital assets like Bitcoin in the UAE has never been easier.
In this guide, we explain how to buy Bitcoin in the UAE in less than five minutes with a debit or credit card.
How to Buy Bitcoin in UAE – Quick Guide
If you’re looking to buy Bitcoin in the United Arab Emirates right now, follow these steps:
- ✅ Step 1: Open an account – You will first need to register an account on your preferred trader’s website by entering some personal information. After choosing a username and password, you will need to upload a copy of your ID.
- Step 2: Deposit Funds – Next, you will need to deposit at least $50 with a debit/credit card, bank transfer, or an e-wallet. Residents in the UAE will pay a deposit fee of just 0.5% across all supported payment methods.
- Step 3: Search for Bitcoin – Start typing in ‘Bitcoin’ into the search box and click on ‘Trade’.
- Step 4: Buy Bitcoin in UAE – You will now need to enter the amount of money that you wish to invest in Bitcoin – from $10. Click ‘Open Trade’ to place your order. The BTC tokens will then be added to your portfolio.
A more detailed explanation of how to buy Bitcoin in the UAE can be found below.
Where to Buy Bitcoin in UAE
Many of the best crypto exchanges in this market accept residents from the UAE – which is good news. You will, however, need to do a bit of research when deciding on where to buy bitcoin in the United Arab Emirates.
For instance, you should ensure that your chosen payment method is supported and what fees and commissions will be charged.
If you’re looking for a low-cost and safe exchange that supports plenty of deposit types – consider the platforms reviewed below.
1. Evest – Buy Crypto CFDs with this Top Trading Platform
Evest 
Cryptocurrency CFD trading allows one to buy and sell digital assets without holding the underlying asset. This trading feature lets investors bet on the future price movements of the cryptocurrency. However, Crypto CFD trading may be preferred by traders with a high-risk appetite.
On Evest, investors can invest in more than 500 financial instruments across 100 financial markets. The platform also offers low-risk investments through Evest Investment Baskets. One can invest in 10 different investment baskets comprising a different combination of assets on the platform. When making an investment, investors can benefit from Evest’s quick execution speed of 0.03 milliseconds per trade.
On Evest, investors can access four account types – Silver, Gold, Platinum, and Diamond. Advanced traders can begin trading on Evest with the Diamond account, which offers customizable spreads on FX pairs and no withdrawal fees. However, the minimum deposit for this account is $50,000 (183,650 AED).
Other traders may access the Silver account, which requires a minimum deposit of only $250 (918 AED). The deposit can be made with Credit Cards, including VISA, American Express, and Mastercard. Evest also supports wire transfers and e-wallets as a payment option. While Evest does not charge a deposit fee, a $5 (18.3 AED) charge is levied on withdrawals (Except while using the Diamond account).
With Evest, users can practice future trading strategies through the paper trading account. This account comes pre-loaded with $25K in virtual currency. One can also leverage the Evest Trading Academy to access courses and lessons on the financial markets and basic trading concepts.
| Number of Assets | Fee to Buy Bitcoin | Debit Card Fee | Minimum Deposit |
| 525+ | No commission on trades (Spreads only) | Depends on the payment method | Starts from $250 |
What we like
2. Crypto.com – User-Friendly App to Buy Bitcoin in UAE
Crypto.com is home to a huge digital asset ecosystem that covers a wide range of services. If you’re simply looking to buy Bitcoin in the UAE on your smartphone – then the Crypto.com app is well worth considering. It only takes a few minutes to get set up and once you are verified – you can instantly deposit funds.
You can achieve this by using a Visa or MasterCard – which will be processed in real-time at a fee of 2.99%. The Crypto.com app also supports bank transfers but this can take a few business days to arrive in your account. In addition to Bitcoin, this popular trading app also supports 250 other digital currencies.
As such, Crypto.com is a great option if you’re thinking about buying a few different tokens for your portfolio. We also like the Crypto.com app for its crypto interest accounts – which allow you to generate an attractive APY on your investments. Interest rates will depend on the coin and whether you wish to open a flexible account or lock your tokens away for 1 or 3 months.
If depositing Bitcoin, for example, you can earn an APY of up to 6% on a 3-month term and also when you stake CRO tokens. Either way, you should find the Crypto.com app very user-friendly – so you won’t need to have any prior experience to buy Bitcoin. Finally, Crypto.com also offers a prepaid debit card that enables you to spend Bitcoin anywhere that Visa is accepted.
| Number of Cryptos | Fee to Buy Bitcoin | Debit Card Fee | Minimum Deposit |
| 250 | 0.4% standard commission | 2.99% | $20 |
What we like
Cryptoassets are a highly volatile unregulated investment product.
3. Binance – Low-Fee Exchange to Trade Bitcoin in UAE
Binance offers some of the lowest trading fees in the crypto exchange arena alongside significant levels of volume and liquidity. Put simply, by opening an account with this platform, you can buy Bitcoin at a commission of just 0.10% – or less if you trade larger volumes
You can trade Bitcoin here against USDT, Ethereum, and a wide range of other digital currencies. With that said, if you are looking to buy Bitcoin in the UAE for the first time and need to deposit fiat money to pay for your purchase – Binance also supports debit/credit cards. This will, however, be processed by a third-party payment company.
As such, debit/credit card fees can vary. Nonetheless, this will, at the very least, allow you to buy Bitcoin instantly and conveniently. Another thing that we like about Binance is that it offers the largest asset library in this space – with no less than 600 cryptocurrencies supported. This translates into over 1,000 tradable markets.
Binance is also great if you wish to access complex trading tools and instruments. For example, Binance not only offers Bitcoin futures and options, but you can also trade cryptocurrencies via leveraged spot markets. Binance also offers crypto savings accounts and staking tools, alongside technical indicators and high-level charting features.
| Number of Cryptos | Fee to Buy Bitcoin | Debit Card Fee | Minimum Deposit |
| 600+ | 0.1% standard commission | Depends on the payment processor | Varies depending on the payment type |
What we like
Cryptoassets are a highly volatile unregulated investment product.
Should I Buy Bitcoin?
If this is your first time buying a digital currency like Bitcoin, you should know that this marketplace can be ultra-volatile. Moreover, investments are often made on a speculative basis with a focus purely on short-term price action.
On the other hand, Bitcoin is also one of the best-performing asset classes in recent years, so the upside potential of this digital currency can be huge.
If you’re still not sure whether Bitcoin is right for you, then consider starting off with small amounts.
This will allow you to dip your feet into the market without taking on too much risk. Then, as you begin to learn more about the fundamentals of Bitcoin, you might consider increasing your stakes.
Don’t forget, Bitcoin operates in a multi-trillion dollar industry, and thus – you can cash out your tokens at any time. As such, your money is never locked away.
Benefits of Buying Bitcoin
If you’re looking for reasons to buy Bitcoin in the UAE because you are still sceptical about this digital asset, then read on.
In the sections below, we cover five core benefits of adding this cryptocurrency to your portfolio today.
5-Year Returns of Nearly 3,000%
Bitcoin has performed extremely well in recent years. Over the prior five years, for instance, this digital currency has increased in value by nearly 3,000%.
This means that had you invested just $500 in 2017, today, your money would be worth $15,000. In comparison, the S&P 500 has increased by just 90% over the same timeframe.
Even high growth stocks like Tesla have underperformed when compared to Bitcoin – with the electric car maker increasing by 1,500% over the prior five years.
2022 Offers a Discounted Entry Price
To date, 2022 hasn’t been the best of years for Bitcoin and the broader cryptocurrency markets. In fact, the value of Bitcoin has remained somewhat flat since the turn of the year.
The good news, however, is that now is a great time to buy Bitcoin in the UAE, not least because it is trading at a discounted price when compared to its prior all-time high.
For example, Bitcoin was priced at its highest valuation in November 2021 at roughly $68,000. In 2022, however, the price of Bitcoin has hovered between $40,000 and $47,000.
Even at the higher end, this offers a discounted entry price of 30% from the digital asset’s most recent peak. As such, this will enable you to enter the market at a much more favourable cost price.
Small Investments Supported
Bitcoin trades for thousands of dollars just for a single digital token. You don’t, however, need to buy a full token to invest in Bitcoin in the UAE. On the contrary, Bitcoin can be split into tiny units – which means that you only need to risk a small amount of capital.
Typically, the minimum amount of money that you can allocate when buying Bitcoin online will depend on your chosen broker or exchange.
For instance, let’s suppose that Bitcoin is priced at $40,000 at the time of your investment, and you decide to buy $10 worth. This means that you will own 0.025 BTC.
Bitcoin is Only Getting Started
You might look at the value of Bitcoin and make a judgment that you have missed the opportunity to make any reasonable gains on this digital currency.
However, many would argue that Bitcoin is only getting started – especially when you consider that the technology was only launched in 2009.
Moreover, when you compare the market capitalization of Bitcoin with other globally used asset classes, there is still plenty of upside potential left on the table.
- For example, general estimates put the total global market capitalization of gold at $12 trillion.
- At its peak, when Bitcoin last hit an all-time high of $68,000, this translated into a market capitalization of roughly $1.3 trillion.
As such, if you were to compare this with gold, Bitcoin would need to grow by over 800% just to reach parity.
Leveraged Markets Available to UAE Residents
If you have some experience in the traditional trading arena – perhaps in the form of forex, commodities, or stocks – then you might already understand the ins and outs of using leverage.
If so, you will be pleased to know that many crypto brokers and exchanges that accept UAE residents enable you to trade Bitcoin on margin.
For example, let’s suppose that you have $500 in your trading account and you decide to trade Bitcoin with leverage of 1:5. This means that you have turned a $500 stake into trading capital of $2,500.
Ways of Buying Bitcoin?
If you are wondering how to buy Bitcoin in the UAE in terms of paying for your investment – we discuss your options in the sections below.
Buy Bitcoin With Credit Card or Debit Card
The process of buying Bitcoin with a credit or debit card can be completed in under five minutes – which includes opening an account and verifying your identity.
Another thing that we like about buying Bitcoin with a credit or debit card is that you can use the same payment method to cash out your gains when you eventually sell your tokens.
Buy Bitcoin With PayPal
Another option you have when it comes to assessing the best way to buy Bitcoin in the UAE is to opt for an e-wallet like PayPal. If you use Coinbase for this purpose, you will pay a fee of 3.99%.
Bitcoin Price
Just like we have throughout this guide, Bitcoin is traded and quoted in US dollars. As such, even if you are used to using AED (United Arab Emirates Dirham) when buying and selling cryptocurrencies – it’s best to get your head around valuations and price targets in USD.
Nonetheless, we explained earlier that Bitcoin was worth over $68,000 at its peak, which was achieved in November 2021. Since then, the Bitcoin price has entered a market correction.
As such, if you are able to buy Bitcoin before the next bullish cycle begins, you stand the chance of entering the market at a favourable price.
In terms of how the Bitcoin price is determined, this is based on broader market sentiment. For example, if there are more buyers than sellers in the market, this will result in upward pricing pressure which subsequently allows Bitcoin to grow in value.
But, when the markets are bearish and waves of investors offload their tokens, the value of Bitcoin will decline. Ultimately, the Bitcoin price is based on the market forces of demand and supply like any other tradable asset.
Bitcoin Price Prediction
Bitcoin price predictions are plentiful in the online space. Many market commentators argue for an upside target of $100,000 by the end of 2022.
However, many market analysts argued for the same thing in 2021 when Bitcoin was enjoying a bullish upward trend. As such, Bitcoin price predictions are not really worth considering.
After all, as we noted earlier, many investors that buy Bitcoin will do so based on speculative objectives. Moreover, Bitcoin and the wider cryptocurrency markets are volatile and oftentimes – unpredictable.
Instead of buying Bitcoin based on the price predictions of other people, it’s best to approach this market on the back of your own research.
How to Buy Bitcoin Safely
There are two main considerations that you need to make in order to buy Bitcoin in the UAE safely.
First, you need to ensure that the broker or exchange that you are using to buy Bitcoin is credible.
- This is easier than it sounds – as it’s often just a case of checking whether or not the platform is regulated by a reputable body.
- These three licensing bodies have a great reputation in the traditional brokerage scene – which has since extended to cryptocurrency investments.
Second, you need to think about how you plan to store your Bitcoin tokens after you have completed your investment.
- Bitcoin, like all other digital assets, is stored in a crypto wallet.
- You can leave your Bitcoin tokens in the web wallet offered by the platform where you made the purchase if you wish. But, you must ensure that the platform offers adequate security controls – like cold storage and two-factor authentication
- Alternatively, you might decide to withdraw your Bitcoin tokens out of the respective broker or exchange and into a private wallet on your phone, laptop, or hardware device.
- However, this option requires you to have a basic understanding of wallet security, private keys, and backup passphrases.
Not only is this option convenient but you do not need to worry about managing your private keys.
How to Sell Bitcoin
We mentioned earlier that once you buy Bitcoin in the UAE on the platform, the tokens will be stored safely on your behalf. This means that you are not required to do anything else until you are ready to cash out your Bitcoin investment.
When the time to sell does arise, you will need to log into your account and click on the ‘Portfolio’ button. This will display the current market value of your Bitcoin tokens.
To sell, click on the cog image and hit ‘Close’. After confirming that you wish to sell your Bitcoin investment, the platform will execute your order instantly and then add the cash to your balance.
Latest Bitcoin News
Finally, let’s briefly discuss the most talked-about news events related to Bitcoin for the week beginning September 25th, 2023:
- It was a relatively uneventful week in the crypto market, with BTC’s value jumping 0.32%. This means BTC is now trading around $26,600 – the same as in mid-August.
- Core Scientific and Bitmain finalized a $77m deal where Bitmain will supply 27,000 mining rigs. The agreement looks to help Core Scientific after the company filed for bankruptcy in December 2022.
- Concordium founder Lars Christensen has said that the next crypto bull run won’t mirror the previous one. Christensen stated that he expects more gradual market growth next time around.
Conclusion
In summary, you can buy Bitcoin in the UAE in under five minutes from start to finish when using an instantly-processed payment method.
At Evest you can achieve this goal by depositing funds with a debit/credit card or e-wallet and only pay 0.5% in transaction fees.