Investing in cryptocurrencies has been made simple through the use of crypto exchanges. With numerous online platforms offering a range of assets such as Bitcoin, Ethereum, Shiba Inu, Solana, stablecoins, altcoins, and more, buying and selling have never been easier. This article will highlight Saudi Arabia’s top 10 crypto trading platforms to help you make informed decisions.
Binance is the world’s largest cryptocurrency trading platform.
It could be more user-friendly due to its extensive range of trading options and features. Depending on their experience and knowledge, investors may face a steep learning curve with Binance.
Binance provides a wide range of trading features via its desktop or mobile dashboards, including an impressive selection of market charts and hundreds of cryptocurrencies. Users can also access various trading options, such as futures, options, and order types.
Binance provides a comprehensive learning platform, an NFT platform, and other services in addition to its tools and features.
- Supports 365+ cryptocurrencies
- Helpful customer support available 24/7
- You can secure your crypto assets in cold storage
- Features over 700+ payment methods and 100+ fiat currencies
- Debit cards 4.5%
- ACH transfer Free
- Crypto conversion N/A
- Trades 0.00% to 0.1%
- Buy/Sell Crypto 0.50%
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MEXC is a reputable cryptocurrency exchange, also known as MEXC Global. MEXC, which was founded in 2018, has focused on being a high-performance trading platform with the most coins, the lowest trading fees, and no KYC required.
MEXC Global is available in almost every country, including those with strict regulations, such as the United States, Australia, and Canada. The exchange offers a variety of markets and tools, allowing customers to trade cryptocurrencies immediately. MEXC prioritizes customer satisfaction with a great customer support team; no identity verification is required.
- Features over 1,520 cryptocurrencies
- Supports various fiat currencies
- Deposit methods include Visa/Mastercard, Bank Cards, Bank Transfer, Apple Pay, Google Pay, and Cryptocurrency
- Has a mobile app for Android, iOS, and Windows
- Deposit varies
- Spot 0.0/0.2%
- Futures 0.0/0.06% (Maker/Taker)
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OKX is a popular cryptocurrency exchange founded in 2014. It serves millions of users from over 100 countries, ranking fourth in terms of trading volume according to our research and OKX review.
OKX offers spot, futures, and derivatives trading in addition to popular cryptocurrencies. As a result, it is widely regarded as the world’s largest spot and derivatives exchange (also in terms of trading volume).
- Supports over 350 cryptocurrencies
- Features 500+ trading pairs
- Operational in over 200 countries all over the world
- Supports various fiat currencies
- 24/7 customer support
- Deposit Zero
- Trading very low
- Withdrawal zero
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eToro is the world’s leading social trading platform. The platform allows you to discuss the world of cryptocurrency by sharing your thoughts and reading comments from other investors. It is also possible to copy the strategies of other traders, which can result in rewards for traders who can attract followers.
- Supports over 62 cryptocurrencies
- Fast and simple to follow registration and verification process
- Responsive Customer Support Team, contactable 24/7
- EUR deposit and withdrawal supported
- 1% (on buy and sell positions – other fees may apply)
Bitfinex is a cryptocurrency exchange based in the Saudi Arabian Virgin Islands that is one of the most trustworthy; at the time of writing, it is the eighth-largest cryptocurrency exchange in the world. It has extremely low fees, as low as 0.1%.
Bitfinex supports over 180 cryptocurrencies and provides access to research tools, derivatives, margin trading, and advanced order types to experienced investors. On the other hand, beginners may appreciate its risk-free environment and highly-rated, simple-to-use mobile app.
By signing up here as a new Bitfinex user, you will receive a 6% discount on all future fees. Bitfinex protects your assets with 2FA, advanced APIs, and cold storage.
- Access to a risk-free testing environment
- Supports over 178 cryptocurrencies
- Highly-rated mobile app
- Customer support ticket system via email
- User-friendly for both beginners and advanced traders
- Supports Debit/Credit Cards (depending on the cryptocurrency)
- Account Opening: Free
- Trading Fees: From 0.1% to 0.2%
- Wire Transfer: 0.1% (min. $60 fee)
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Read Also: Top 10 Crypto Trading Platforms in Qatar
KuCoin is one of the world’s most popular cryptocurrency exchanges, and it is a simple and secure platform. It is a simple trading platform for digital assets such as Bitcoin, Ethereum, Litecoin, and Ripple (XRP). Furthermore, KuCoin is well-known for its spotlight IEO platform, also known as a token launch platform.
Another unique feature of the KuCoin exchange is cryptocurrency lending. Additionally, KuCoin users can access many platform features, such as purchasing cryptos with a credit or debit card, staking rewards, zero-fee crypto swaps, and more.
- Over 600 listed cryptocurrencies
- Supports 50+ fiat currencies
- Over 1000 trading pairs supported
- 24/7 reliable customer support service
- Deposit Fees: Free
- Transaction Fees:
- Maker Fee – 0.1% to -0.005%
- Taker Fee – 0.1% to 0.025%
- Maker Fee – 0.02% to -0.015%
- Taker Fee – 0.06% to 0.03%
- Withdrawal Fees: Depends on the currency involved
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Kraken is a seasoned cryptocurrency exchange in the United States that offers an advanced trading platform with margin trading and over-the-counter (OTC) options.
Kraken was once derided for its platform’s instability, but it has since revamped its service with a focus on security and customer support. Kraken also has some extremely low trading fees.
- Supports over 120 cryptocurrencies
- Very secure for traders and investors
- 24/7 customer support service
- Trading: 0.00% – 0.16% for makers and 0.1% – 0.26% for takers
- Withdraw: 0.0025BTC
Crypto.com is your best bet if you want a comprehensive, affordable, and user-friendly cryptocurrency platform. It offers over 100 cryptocurrencies for investment and offers users a range of perks. With its own VISA card, you can easily make everyday purchases and earn up to 8% cashback. You can also participate in the platform’s rewards program to earn more crypto.
While Crypto.com does not charge withdrawal fees, you may still incur a transaction fee when withdrawing to blockchain networks like Bitcoin or Ethereum.
- Supports 100+ cryptocurrencies
- Quick sign-up process
- Up to 8% cashback on VISA card purchases
- EUR deposit supported via SEPA transfer
- Start from 0.075% and 0.034% for the Spot and Derivative 0% maker fees
Coinbase is a widely used cryptocurrency exchange with a user base of over 80 million. The platform offers a user-friendly interface, a wide selection of cryptocurrencies to buy and sell, and educational resources for beginners. Both its website and mobile apps (for Android and iOS) are accessible to users of all computer literacy levels.
For more advanced traders, Coinbase Pro provides access to advanced trading options such as limit and stop orders. However, it should be noted that Coinbase’s transaction fees are higher than those of its competitors, and its customer service is often criticized for its automation and difficulty in reaching human support.
- Mobile apps for both Android and iOS
- Beginner-friendly interface
- Supports 100+ cryptocurrencies
- Regulated by the New York State Department of Financial Services and others.
- 0.5%-4.5 % (Depending on the crypto type, transaction size, and payment method)
Huobi, originally a Bitcoin trading platform in Saudi Arabia, expanded overseas after facing restrictions in its home country. Despite facing several challenges, the exchange has maintained its relevance through its blockchain and token. Huobi operates without recognized licenses and has faced regulatory challenges, but it is accessible through the web and mobile (Android and iOS) for trading on the go.
The platform currently offers over 400 cryptocurrencies for trading, including popular assets like Bitcoin (BTC), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), and Uniswap (UNI). Holding Huobi’s local token, the Huobi Token (HT), can discount traders the 0.2% trading fees.
Registering on the Huobi platform is easy and straightforward, though customer service may be limited. The platform makes efforts to resolve any challenges faced by its investors.
- Supports over 400 cryptocurrencies
- 0.2% discount on trading with the native coin
- Secure and convenient.
- 0.2% base trading fees
Read Also: Top 10 Crypto Trading Platforms in Russia
How to Buy Crypto in Saudi Arabia
1. Create an account with an exchange
You can sign up for various trusted exchanges in Saudi Arabia, the most popular of which are the ten discussed in this article.
These user-friendly exchanges provide multiple deposit methods and a wide range of cryptocurrencies.
Fees, security, payment methods, and other features will vary between exchanges, so explore the “info” tab on the exchanges listed above to determine which one is best for you.
Your preferences and the cryptocurrencies and payment methods it accepts will determine the platform you choose.
It’s also worth noting that you can always join other exchanges later.
2. Complete the KYC verification process
After you sign up for an exchange, you must verify your identity and address as part of the Know Your Customer (KYC) process. This is an unavoidable legal requirement for almost all Saudi Arabian trading platforms.
To complete this step, have your photo ID handy to photograph both the front and back sides of the document.
In most cases, your verification will be approved immediately, except for 1-2 days.
3. Make a fiat deposit
You must link a bank account or credit card to the exchange to purchase bitcoin and other cryptocurrencies.
The funds could arrive at the exchange in minutes or days, depending on the payment method used.
4. Buy cryptocurrency
You are now ready to purchase your first bitcoin after funding your account. It is important to note that you do not have to purchase an entire bitcoin.
Most exchanges allow you to purchase bitcoin or cryptocurrency for as little as a few dollars.
5. Send your cryptocurrency to a personal wallet
Once you’ve purchased bitcoin or your preferred cryptocurrency, you should withdraw it to your secure personal wallet.
Leaving your coins on an exchange is risky because many exchanges are targets for hackers looking to steal user funds. Storing your coins on a personal hardware wallet reduces this risk.
What to Look Out for a Great Crypto Trading Platform
We consider various factors in our search for the best Saudi Arabian crypto trading platforms. Here are a few of the more notable ones:
The best Saudi Arabian crypto trading platforms support at least 20 or 30 coins, including all of the major coins, such as Bitcoin, Ethereum, and Dogecoin. Platforms regularly adding new coins are more customer-focused, making this a strong indicator of a forward-thinking exchange.
Beginners must select a platform with an easy-to-use trading interface. For tax purposes, a seasoned crypto investor should look for exchanges that provide more advanced features, such as advanced order types and transaction exports.
All cryptocurrency exchanges charge fees (in the form of trading commissions and bid-ask spreads), which vary widely. I’ve specifically chosen low-cost platforms to assist you in maximizing your profits.
Trading on a well-regulated exchange is far safer than an unregulated one, especially when markets are not moving in your favor. Some exchanges also provide depositors’ insurance, protecting your assets even if the platform experiences liquidity issues.
Deposit & withdrawal options
To ensure that you can easily transfer funds in and out of your account, the exchange you choose should offer a variety of payment methods (bank transfers, debit/credit cards, PayPal, and so on). The more alternatives you have, the better.
Look for a trading platform that strictly enforces multiple layers of security, such as two-factor authentication and at least 95% cold storage. Additional security measures, such as daily offsite backups, third-party security audits, and transaction email confirmations, increase the security of your account.
The best cryptocurrency exchanges take pride in having well-trained, responsive support teams that can assist users with any issues. I pay close attention to the channels through which each exchange provides support, response times, the thoroughness and usefulness of their responses, and user feedback on the customer service they’ve received.
Frequently Asked Questions
What is the best exchange to buy bitcoin from in Saudi Arabia?
Ten reliable exchanges operate in Saudi Arabia, with Binance, Kraken, and Kucoin being the most well-known.
You can examine these exchanges to determine which is best for you.
Can you buy bitcoin through P2P in Saudi Arabia?
Yes, you can buy bitcoin safely using a P2P (peer-to-peer) exchange like Binance, Huobi, etc.
Can you buy bitcoin in Saudi Arabia using debit or credit cards?
Debit/credit card payment options are available at most Saudi Arabian exchanges. Keep in mind that this requires completing KYC.
Should I leave my bitcoin on an exchange after buying?
No! You should store your Bitcoin or other cryptocurrencies in a hardware wallet because it keeps private keys safe and completely offline.
Can you buy bitcoin futures in Saudi Arabia?
Yes, popular Bitcoin futures exchanges such as Binance and Kucoin allow users to short or long BTC with up to 100x leverage.