Alexa rank: 69,576 (Global, April 2020)
Founded: 2017
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Rain is the first cryptocurrency exchange to earn a regulatory license in the Middle East and joins an elite group of exchanges internationally. Rain’s platform allows customers to buy, sell, and store crypto in a secure environment on its website and mobile apps. The company founded in 2017, launched publicly in 2019 with their license from the Central Bank of Bahrain and is now serving customers. Since then, they have exceeded 10,000 customers and are growing quickly.
Supported Fiat: SAR, BHD, AED, OMR, KWT, USD, EUR
Payment methods include:
SWIFT
FAWRI
FAWRI+
Debit Card
Credit Card
MADA
KNET
BENEFIT
Headquarters: Manama, Bahrain Bay, Bahrain
Founders:
Abdullah Almoaiqel
Yehia Badawy
AJ Nelson
Joseph Dallago
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Rain Fees
Deposit Fees:
Withdrawal Fees:
- Bank fiat withdrawal in Bahrain: $0
- International bank fiat withdrawal via SWIFT: $10 or equivalent in local currency
- BTC withdrawal: .0001 BTC
- ETH, LTC, XRP withdrawal: $0
Trading Fees:
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1.5% for bank buy/sell on brokerage
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4% for card buy on brokerage
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OTC desk - depends on size and currency
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Rain Security
The majority of cryptocurrency funds held by Rain are stored offline in a proprietary Cold Storage system. Rain uses bank-grade security, encryption, and meets all CCSS requirements. Rain is licensed by the Central Bank of Bahrain (CBB) as a Crypto-Asset Brokerage and is subject to rigorous cybersecurity, capital reserve, and banking compliance standards.
Alexa rank: 27,410 (Global, May 2019)
Founded: 2013
Buy Bitcoin
Cex.io started in 2013 as a Bitcoin exchange and cloud mining provider which has since become a multi-functional exchange, trusted by over half a million users. The exchange has developed a multi-level account system with an individual approach to each customer, from Bitcoin beginners to institutional traders. Worldwide coverage, multiple payment options, and 24/7 support are accompanied by time-proven platform stability that guarantees the safety of assets and data.
Supported Fiat: USD, EUR, RUB, GBP
Payment methods include:
Debit Card
Credit Card
Bank Transfer (SEPA)
SWIFT
Headquarters: London, United Kingdom
Founders:
Oleksandr Lutskevych
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CEX.io Fees
Deposit Fees:
- VISA/Mastercard: * USD - 2.99% * GBP - 2.99% * EUR - 2.99% * RUB - 5% + ₽ 15.57
Withdrawal Fees:
Trading Fees:
Alexa rank: 4,136 (Global, May 2019)
Founded: 2006
Buy Bitcoin
Users: 3,000,000 (January 2014)
eToro is an innovative and versatile trading platform where you can trade stocks, ETFs, currencies, cryptocurrencies, incides, and commodities. eToro works as a social investment platform with its 'CopyTrading' feature which allows users to view, follow and copy the network's top traders automatically. eToro has a good reputation but it is worth mentioning that purchasing cryptocurrencies with eToro does not mean that you will physically own the asset. If you want to purchase the asset instead of just trading it, it is recommended to use another exchange.
Supported Fiat: USD, EUR, GBP, JPY, AUD, RUB, CNH, CAD
Payment methods include:
Bank Transfer
Wire Transfer
China Union Pay
Credit Card
Debit Card
Giropay
Neteller
PayPal
Yandex
Headquarters: Tel Aviv, Israel
Founders:
Yoni Assia
Ronen Assia
David Ring
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eToro Fees
Deposit Fees:
Withdrawal Fees:
Trading Fees:
Alexa rank: 252,748 (Global, May 2019)
Founded: 2014
Buy Bitcoin
BitOasis is the Middle East & North Africa’s (MENA) largest digital asset trading exchange, platform, and wallet service. The BitOasis platform allows you to buy, sell and trade your digital assets easily and securely. Sadly, BitOasis is not transparent with their withdrawal fees, deposit fees, and BTC/fiat conversion rate.
Supported Fiat: AED (UAE Dirham)
Payment methods include:
Credit Card
Debit Card
Headquarters: Dubai, United Arab Emirates
Founders:
Ola Doudin
Daniel Robenek
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BitOasis Fees
Deposit Fees:
- Fees for depositing are unclear. There has been negative user feedback regarding BitOasis’ unclear fee structure.
Withdrawal Fees:
Trading Fees:
Alexa rank: 59,771 (Global, May 2019)
Founded: 2013
Buy Bitcoin
Coinmama is a leading cryptocurrency exchange that allows you to buy and sell bitcoin and other cryptocurrencies with a credit card and/or bank transfers. Since its foundation in 2013, it has grown to serve over 2 million customers across 188 countries and today has over 40 employees. Coinmama is a really simple exchange, which makes a perfect platform for safe, secure and quick transactions.
Supported Fiat: USD, EUR, GBP, CAD, AUD and JPY + more
Payment methods include:
Cash (via Western Union)
Credit Card
Debit Card
Bank Transfer (SEPA)
SWIFT
Headquarters: Slovakia
Founders:
Laurence Newman
Nimrod Gruber
Ilan Schuster
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Coinmama Fees
Deposit Fees:
Withdrawal Fees:
Trading Fees:
Alexa rank: 5,538 (Global, May 2019)
Founded: 2012
Buy Bitcoin
Users: 1,350,000 (August 2016)
LocalBitcoins works as a decentralized exchange, facilitating P2P (peer-to-peer) Bitcoin sales by allowing users to list their own buy/sell advertisements. By using the site users can create and list advertisements, communicate with prospective buyers and sellers and confirm all the transaction details before finalizing any trade. Users can either meet in person or trade online. LocalBitcoins allows for private purchases and can be used worldwide; it also allows users to make purchases via a number of different payment methods and doesn’t impose buying or selling limits.
Supported Fiat: USD, EUR, GBP, AUD, CAD, CNY & 50+ more
Payment methods include:
BPAY
Cash
Credit Card
Cryptocurrency
Debit Card
Flexepin
iDEAL
Neosurf
Neteller
PayPal
Perfect Money
Bank Transfer (SEPA)
SWIFT
Western Union
Headquarters: Helsinki, Finland
Founders:
Jeremias Kangas
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LocalBitcoins Fees
Deposit Fees:
Withdrawal Fees:
Trading Fees:
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LocalBitcoins Security
LocalBitcoins has a strong reputation for being reliable and safe to use. Security-enhancing features like two-factor authentication (2FA), Login Guard, support staff, and a feedback-driven reputation system all contribute to the safety and security for users. Also, the fact that all online trades are protected by escrow.
Alexa rank: 10,707 (Global, May 2019)
Founded: 2011
Buy Bitcoin
Users: 4,000,000 (February 2019)
With millions of active users, an international market, and strategic investors on board, Kraken, joins Coinbase and Binance to become the big three cryptocurrency exchanges in the global market. Kraken provides cryptocurrency to fiat trading and provides price information to Bloomberg Terminal. In February 2019, Kraken announced that it had raised US$100 million in a direct offering to its largest customers at a $4 billion valuation.
Supported Fiat: USD, EUR, GBP, JPY, CAD
Payment methods include:
Electronic Funds Transfer
Bank Transfer (SEPA)
Wire Transfer
Headquarters: San Francisco, California, U.S
Founders:
Jesse Powell
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Kraken Fees
Deposit Fees:
- EUR SEPA Deposit (Free) - EEA countries only
- USD Bank Wire Deposit ($5 USD) - US only
- EUR Bank Wire Deposit (€10) - outside US only
- USD Bank Wire Deposit ($10 USD) - outside US only
- JPY Bank deposit (Free, ¥5,000 deposit minimum) - Japan only
Withdrawal Fees:
- Cryptocurrency: Fees vary
- EUR SEPA Withdrawal (€0.09) - EEA countries only
- USD Bank Wire Withdrawal ($5 USD) - US only
- USD Bank Wire Withdrawal ($60 USD) - outside US only
- EUR Bank Wire Withdrawal (€60) - outside US only
- JPY Bank withdrawal (¥20) - Japan only
- CAD EFT Withdrawal ($10 CAD)
Trading Fees:
Alexa rank: 12,924 (Global, May 2019)
Founded: 2014
Buy Bitcoin
BitMEX (Bitcoin Mercantile Exchange), is a peer-to-peer derivatives trading platform that provides reliable derivatives, futures, and indefinite contracts on cryptocurrencies, primarily Bitcoin. BitMEX boasts over $180B traded since its’ launch and $80B in December of 2017 alone. The BitMex platform doesn’t work with fiat currencies.
Supported Fiat: None (only Bitcoin)
Payment methods include:
Cryptocurrency
Headquarters: Hong Kong, HK
Founders:
Arthur Hayes
Ben Delo
Samuel Reed
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BitMEX Fees
Deposit Fees:
Withdrawal Fees:
Trading Fees:
Alexa rank: 15,221 (Global, May 2019)
Founded: 2014
Buy Bitcoin
Users: 800,000 (June 2019)
Paxful works as a peer-to-peer Bitcoin trading platform. Established in 2015, the peer-to-peer marketplace allows buyers and sellers to interact by posting trade offers. Users can choose to make purchases using PayPal, MoneyGram, Amazon/iTunes gift cards and many more payment methods.
Supported Fiat: USD, EUR, GBP, CAD, AUD, CNY & 50+ more
Payment methods include:
Cash
Credit Card
Debit Card
Flexepin
iDEAL
Neosurf
Neteller
PayPal
Perfect Money
SWIFT
Western Union
Moneygram
Giftcards
Headquarters: Wilmington, Delaware, U.S
Founders:
Ray Youssef
Artur Schaback
-
Paxful Fees
Deposit Fees:
Withdrawal Fees:
Trading Fees:
Alexa rank: 39,527 (Global, May 2019)
Founded: 2015
Buy Bitcoin
Users: 2,000,000 (June 2019)
Changelly allows one to exchange one cryptocurrency for another and also buy using a bank card. All this is done through a convenient and clean user-interface and a quick registration via email or social media account. Changelly’s conversion mechanism is integrated into some of the biggest cryptocurrency platforms such as Poloniex, Bittrex, and Binance. There are no geographical restrictions to the service that Changelly provides, so it can be accessed from anywhere in the world.
Supported Fiat: USD, EUR, GBP
Payment methods include:
Credit Card
Debit Card
Headquarters: Valletta, Malta
Founders:
Alex Melikhov
Konstantin Gladych
-
Changelly Fees
Deposit Fees:
- Changelly does not have set fees due to the volatility of cryptocurrencies. By not having fixed fees on trades, Changelly avoids being accountable for risk and volatility. Additionally, without fixed rates, Changelly is able to charge lower commission fees.
Withdrawal Fees:
Trading Fees:
The Kingdom of Saudi Arabia's (المملكة العربية السعودية) stance on Bitcoin and cryptocurrencies, stated through its monetary authority, the Saudi Arabian Monetary Authority (SAMA), is that cryptocurrencies are not supported within the Kingdom, and dealing with it is risky.
In October of 2017, Saudi billionaire investor Prince Alwaleed bin Talal, a member of the extended Saudi Arabian royal family, stated that he agreed with JPMorgan CEO Jamie Dimon, who famously called bitcoin a “fraud” that is “worth nothing”. Expressing further skepticism, Prince Alwaleed argued that the lack of regulation governing Bitcoin will lead it to inevitably implode.
Recently, Saudi Arabia has had a more welcoming stance on cryptocurrencies unveiling in January of 2019 a landmark agreement between UAE and Saudi Arabia that will see the two countries co-operate in the development of a joint cryptocurrency.
Is Bitcoin Legal in Saudi Arabia?
Bitcoin is legal in Saudi Arabia. However, in 2017, the Saudi Arabian Monetary Agency (SAMA) issued a warning against bitcoin trading saying it is high-risk, not being monitored or supported by any legitimate financial authority, and mentioned that investors of the cryptocurrency will not have any protection from losses.
