How to Buy Bitcoin in Saudi Arabia

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.

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.

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 offers a state-of-the-art, fully-managed cold storage Custody as a Service (CaaS) solution. eToro is a legitimate broker and trading platform and are regulated in Europe by the Cyprus Securities and Exchange Commission and in the UK by the Financial Conduct Authority (FCA). They are also registered with the U.S. Commodity Futures Trading Commission (CFTC).

Within 8 months of launching in July 2017, Binance quickly skyrocketed into the world's largest cryptocurrency exchange by trading volume, processing more than $1 billion on a daily basis. It’s rise to popularity can be attributed to the impressive number of cryptocurrencies they offer, professional attitude, friendly and transparent CEO, and low trading fees.

Binance is considered a safe cryptocurrency exchange. Binance provides 2-factor authentication and offers both multi signature wallets and cold storage options.

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.

CEX is authorized as an MSB by FinCEN and has a Level 2 PCI DSS data security clearance. CEX shows a required level of security and due diligence for storage, processing and transmission of payment card data.

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.

Coinmama is considered a reputable platform for bitcoin purchases.

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 $100 million in a direct offering to its largest customers at a $4 billion valuation.

Kraken is considered one of the safest bitcoin exchanges around. The platform provides cryptography-verified proof of reserve audits. These audits verify the total amount of cryptocurrency held by Kraken. The company appears to be well-capitalized and very safe to use.

Bitstamp is a well-established and respected cryptocurrency exchange that has become one of the most popular choices with cryptocurrency traders around the world. Bitstamp provides trading services to traders from all around the world and is designed for both intermediate and experienced investors. The exchange provides a user-friendly, intricate and advanced trading platform with sophisticated features.

98% of all funds on the exchange are kept in cold storage, meaning they are inaccessible to hackers. Additionally, Bitstamp insures these funds while using mandatory confirmation emails, 2FA, and SMS alerts to ensure secure accounts. On top of everything mentioned, the site also utilizes PGP to encrypt all uploaded files, keeping them private and secure

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.

BitOasis claims customer funds are kept in multi-signature wallets.

Paxful works as a peer-to-peer Bitcoin trading platform. Established in 2014, 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.

Funds are held in escrow by Paxful until both parties confirm all components of the transaction.

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.

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.

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.

Changelly offers two-factor authentication and an HTTPS security protocol. No user funds are stored by Changelly as all coins sent are processed to be exchanged and transferred to user wallets.