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Best Crypto Exchange in UAE 2022 – Analytics Insight




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January 17, 2022

eToro

Digital assets like Bitcoin continue to post explosive returns, but how do you buy them? This is where platforms like the best crypto exchange come to play. 

In this review, we walk you through the ins and outs of finding the best crypto exchange, so you start investing in cryptocurrency easily and securely in 2022.

 

Best Crypto Exchanges List 

Some of the best crypto trading platforms and top Bitcoin exchanges in UAE include: 

  • eToro: The Overall Best Bitcoin Exchange in UAE
  • Alvexo: Best Bitcoin Exchange for Beginners 
  • Capital.com: The Best CFD Broker for Crypto
  • Binance: The Best Cryptocurrency Exchange for Liquidity 
  • CoinMama: The Most Trustworthy Crypto Exchange Option

 

The Best Bitcoin Exchanges Reviewed

Now that we have identified the best crypto exchange in UAE, let’s look at our options more exhaustively.  

 

1. eToro – Overall Best Bitcoin Exchange in UAE

eToro

eToro is currently one of the top crypto exchanges in the UAE. Interestingly, it didn’t start as a crypto exchange. 

Founded in 2007, eToro started as a stock trading app. However, the service now offers access to a broad asset class. From traditional stocks and bonds to cryptocurrencies and exchange-traded funds (ETFs), eToro offers access to everything you need as an investor. This broad asset class is working well for it. Furthermore, you can buy cryptocurrency with a minimum investment of just $10.  

Currently, you can gain access to over 40 cryptocurrencies on eToro. You can also buy Bitcoin and other cryptocurrencies. These include the likes of Ethereum, XRP, Litecoin and more. For beginners, eToro offers an easy-to-understand interface as well as a low minimum balance. Depending on where you are, you can get started with as little as $10.

eToro also offers a CopyTrader feature that allows you to search for top traders on its platform and copy their trades. The feature might not be useful for people who simply want to buy or sell, but for traders looking to speculate, this feature is amazing. It ensures that when these top traders make money, you do as well. 

Pros 

  • Impressive CopyTrader feature 
  • User-friendly interface 
  • Low minimum deposit
  • Fully regulated
  • Convenient demo account

Cons 

  • Only supports USD as account base currency

Buy Crypto on eToro

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. 

 

2. Alvexo – Top UAE Crypto Exchange For Research Tools

eToro

Alvexo is an online forex broker that was founded in 2014. The service is owned by VPR Safe Financial Group Ltd – a financial services firm based in Cyprus. Alvexo is easily the best crypto exchange across the board. 

Alvexo offers multiple asset classes for trading. Its versatility is a benefit. The service is available on mobile, although its user interface isn’t the best. But, with enough time, you should be able to get used to it. 

For crypto traders, Alvero is a great option. It offers margin trading, with up to 1:300 leverage outside of Europe. Spreads and trading fees are competitive, and Alvexo offers research tools to help manage your portfolio – or if you just want to know more about an asset. 

Pros 

  • Impressive research tools 
  • Considerable leverage 
  • Competitive fees

Cons 

Unresponsive support team

 

3. Capital.com – Top Bitcoin UAE Exchange For CFD Trading

eToro

Capital.com is an interesting platform in the industry. The online broker is a renowned CFD platform that makes it easy for investors to buy and sell cryptocurrencies. CFD or contracts for difference are financial products that allow the investor to long or short an asset.

Capital.com offers access to hundreds of cryptocurrencies and an abundance of other CFD products. You can even get crypto-to-crypto crosses and pricing in lesser-known currencies like the Belarusian ruble. It has an attractive fee structure, including free deposits and withdrawals.  

Pros

  • Expansive crypto portfolio 
  • Access to margin trading
  • Low spreads
  • Strong customer support 

Cons 

 

4. Binance – Top Bitcoin Exchange in UAE for Liquidity

 

eToro

Binance is the world’s largest Bitcoin exchange and one of the top cryptocurrency exchanges in UAE. It handles billions of dollars in daily trading volumes, and its services are used across the globe – even in the UAE. 

Binance offers a mobile app and a desktop trading platform, impressive customer support, and top-notch security. Binance also offers margin trading for advanced traders, allowing you to access leverage of up to 1:30 to facilitate your trades. For advanced traders, Binance is a great option. 

Fees on Binance are also pretty competitive – they’re not the lowest in the industry, but they’re not the highest as well. The exchange supports different deposit and withdrawal methods, and your transactions will be processed in minutes. 

As long as you can get over Binance’s clunky interface, you shouldn’t have any problem whatsoever. 

Pros 

  • Competitive fees
  • High liquidity 
  • Quick transactions 

Cons

Buy Cryptos on Binance

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. 

 

5. CoinMama – Most Trustworthy Crypto Exchange Option

eToro

CoinMama is an up-and-coming crypto exchange based out of Israel. The service facilitates seamless trading and crypto purchases, allowing you to invest from the comfort of your home. 

Unlike most exchanges, however, CoinMama doesn’t just bring buyers and sellers together. The platform sells cryptocurrencies from its vault. This way, you transact with the company be assured there is no fraud. 

CoinMama also has several payment options available, so you don’t feel stranded. The service even accepts Apple Pay for purchases. That’s how broad the payment options available to you are. 

Transactions take minutes, and you can get your Bitcoin order fulfilled even faster, thanks to the exchange’s considerable liquidity.

 Pros 

  • High liquidity 
  • Trustworthy purchases
  • Quick transactions

Cons 

 

What is a Crypto Exchange?

A crypto exchange is a service that facilitates the purchase and sale of cryptocurrencies. Exchanges bring buyers and sellers together, offering an enabling environment for them to do business. 

The buyer leaves with their desired amount of cryptocurrencies, while the seller leaves with the money. Exchanges charge a fee for their service.

Buy Crypto Now

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. 

 

How Do Bitcoin Exchanges Work?

Crypto exchanges exist to connect buyers and sellers. Some do this by allowing peer-to-peer transactions, while others get involved and sell to – or buy from – their customers directly. 

 

Types of Crypto Exchanges 

Crypto exchanges are divided into two types; centralised and decentralised crypto exchanges. While both facilitate the easy transfer of digital assets, they operate very differently.

 

1. Centralised Exchange

Centralised exchanges (CEX) are the most popular means several crypto investors use to buy, sell, and trade cryptocurrencies. These exchanges usually serve as intermediaries or third parties and mediate between buyers and sellers.

Centralised exchanges hold the crypto assets of both transacting parties, with the buyer and seller not having express access to their crypto funds. CEX usually features the regular trading of a traditional market with popular offerings like margin and futures trading, spot and perpetual. Popular CEX platforms include Binance, Kraken, Coinbase, FTX, Bybit, and hundreds of others.

While CEX platforms have helped to onboard more investors, the absence of privacy and questionable securities due to hacks have seen several investors clamour for a more user-oriented exchange channel.

 

2. Decentralised Exchanges

As the name denotes, a decentralised exchange is intrinsically different from a centralised exchange. Instead of relying on the order book to provide liquidity, decentralised exchanges use smart contracts and allow anyone to provide liquidity on a given asset. DEXes are also faster and enable more digital token transfers and swaps between popular and new digital assets.

Decentralised exchanges are mainly non-custodial, meaning users still retain ownership of their funds. This way, the chances of the funds being stolen through a security breach or the platform folding up and investors losing their money is minimal. They also eliminate the single point of failure since they are decentralised. While centralised exchanges charge in percentages, DEXes charges a blockchain fee, usually called a gas fee.

Some of the top DEX platforms are UniSwap, SushiSwap, PancakeSwap, and others.

Buy Crypto on eToro 

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. 

 

How to Choose the Best Crypto Exchange for You

Bitcoin exchanges are becoming increasingly popular, making it difficult to choose the right one. To help you through this, we have highlighted a few metrics you should look out for when selecting a crypto exchange.

 

1. Security and Regulation

We recommend using a crypto broker with the relevant regulatory licenses. The best crypto exchange is supervised by a top-tier financial authority such as the FCA. This ensures that your crypto funds and personal details are safe. Some regulatory bodies you should look out for are the FCA, CySEC, ASIC, SEC, and FinCEN.

 

2. Fees

Trading crypto can be a costly process, especially if you use a high fee-paying crypto exchange. We recommend using a crypto broker with a reasonable fee structure. eToro is our number pick in this regard. The platform allows you to trade for low fees, culminating in good savings in the long term. You should look out for deposit, withdrawal, and trading fees as well.

 

3. Payment methods

Every crypto platform supports different payment methods, and you should research to find out which. The best crypto platforms blend bank wire transfer, credit/debit card and e-wallet solutions like PayPal. 

 

4. User experience

Even though cryptocurrencies are complicated by nature, a crypto platform should be easy to use. As a beginner investor in the crypto niche, you should look for a user-oriented trading platform that makes it easy for you to buy and sell cryptocurrencies with the click of a button.

 

5. Mobile app

If you are always on the move, then using a mobile trading app would go a long way in making your crypto investing journey easy. A top mobile app would come with all the attributes of the desktop application with a deposit, withdrawal, and token transfer. Real-time price alerts and advanced trading tools should also feature predominantly.

 

6. Customer Service

Customer support is also necessary for addressing issues that may come up. A top crypto platform is renowned for 24/7 support and remarkable response time. eToro offers some of the best customer service support in the crypto industry.

Buy Crypto on eToro

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. 

 

How to Get Started with the Best Crypto Exchange in UAE – eToro Tutorial

Here are the steps to follow to sign up on eToro – our pick for the best crypto exchange.

 

1. Open an account with eToro

eToro

Navigate to the eToro website and click on the ‘Join Now’ button to access the registration page. You will need to provide your full name, mobile number, email address, and password. Alternatively, you can easily sign up with your Google or Facebook accounts.

 

2. Verify ID

eToro

eToro is a regular entity so you will need to complete the KYC process. To do this, upload a snapshot of your driver’s license or official passport. You will also need to submit a copy of your recent utility bill or bank statement to verify your account.

 

3. Deposit

eToro

To deposit, click on the action tab and click the ‘Deposit Fund’ button. Tap it to open the deposit portal. Select your preferred payment method and insert how much you want to fund your account. 

 

4. Search for Crypto

eToro

Next, search for the crypto you want to invest in by typing the ticker symbol into the search bar. 

 

eToro

Buy Crypto on eToro

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. 

To buy the crypto you want, click on ‘Trade’ to open the order page. Once there, insert how much of the crypto you want to buy and click on ‘Open Trade’ to complete the process. The relevant amount of crypto assets will be deposited into your account. You can then transfer the crypto to your etoro crypto wallet.

For instance, if you want to buy BTC, insert the amount of Bitcoin and click on ‘Open Trade’ to conclude the transaction.

 

Conclusion

Cryptocurrencies have seen remarkable adoption partly due to the proliferation of crypto exchanges. These trading platforms have boomed with the broader crypto ecosystem providing an easy and simple format to buy and own blockchain-based assets.

From our review, we consider the social trading platform eToro as the best cryptocurrency exchange in UAE. The platform has a user-friendly interface, low deposit and trading fees, copy trading capability, and responsive customer support.

Buy Crypto on eToro

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. Your capital is at risk. Additionally, 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

 

FAQs

What Are the Best Cryptocurrency Exchanges?

The best crypto exchange for investors based in the UAE is eToro due to its plethora of digital assets, payment methods and low fees. We also recommend Alvexo, Capital.com, Binance, and Coinmama as the best cryptocurrency exchanges in UAE. 

 

Which Crypto Exchange Is Best in UAE?

Although there are several options available, we recommend using eToro due to low fees, high security, copy trading tools, and multiple payment options.

 

What Is the Safest Bitcoin Exchange?

eToro ranks as the safest Bitcoin exchange to use in the UAE. The social trading platform has no recorded history of suffering a security breach of users losing their funds due to its strict security measures. It is also heavily regulated by top-tier financial authorities including the SEC, FCA, CySEC, and ASIC. 

 

Where Can I Sell Bitcoin in UAE?

You can easily sell Bitcoin on the eToro platform. To get started, select the top crypto asset and click on the ‘Sell’ button to liquidate your position. Once you are ready to withdraw, click on the relevant button to change your crypto assets back to fiat currency.

 

Which Bitcoin Exchange Has Lowest Fees?

In terms of low fees, eToro ranks top. You get zero deposit fees for all supported payment methods and only pay a withdrawal fee of $5. This contrasts with Coinmama’s deposit fee of 5% and Binance’s fee structure for payments via debit cards.



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