Though crypto seems to have become the digital financial destination for clients in Europe or the USA, it is still discovering its momentum in the Middle East and North Africa. Adoptions to crypto exchanges have been spectacular, with a rise in Middle East cryptocurrency trading.
Both private entities and the public trading domain have embraced cryptocurrencies. With such an expanding crypto exchange sector, Islamic governments are opening up and amending regulations for ease of trading.
It’s not only Islamic governments on the deck of amendments, but sharia-compliant financial companies are also adding an effort to achieve the common cause.
For half a decade, the Middle East and North Africa have witnessed a sharp rise in terms of crypto exchanges. What really shows that crypto exchanges have expanded?
Well, the existence of ArabFinancials (a universal source of financial detail) is a clear indication that crypto exchanges are receiving a lot of traction.
ArabFinancials are also better when it comes to targeting Middle East investors because of their specifics. Another indicating factor is the central bank and government adoptions to crypto services.
That, in itself, is a clear sign that crypto exchanges are being tolerated. Marketers and investors can now enjoy booms on digital trading platforms.
For financial companies, this is a good enough opportunity to expand stock other than keeping it still in a central bank. The fundamental step in gaining a lot of crypto experience is by searching on the prominent and reputable crypto exchanges available.
There are some exchanges relevant and permitted in the Middle East while some are still barred. With enough research, you will find out that it is very easy to start cryptocurrency trading.
Top Cryptocurrency Exchanges in the Middle East
If you are certainly willing to delve into the world of crypto trading, make a huge effort of carrying out some detailed research.
Gain as much comprehensive knowledge as possible and equip yourself for what is to come next. Yes, digital exchanges can be risky at times due to the volatility shift but there is no need to worry because adventures are also fluctuations.
As you do your research, make sure that you gather everything there is to know about price volatility and financial shifts. That will guide you in selecting that ideal and appropriate exchange.
Let us now check out the verified crypto exchanges in the Middle East.
For a different taste from Rain, choose CoinMENA. CoinMENA is good when it comes to selling and buying crypto coins. Not only are the transactions fast but are guaranteed and regulated.
Basing its operations in Bahrain, CoinMENA has stretched to Kuwait, Oman, and United Arab Emirates.
Trades are easy to make using local currency. In terms of crypto assets, CoinMENA has a total of 9 and chief among those are bitcoin and Ethereum.
As usual, investors will be looking for fee charges and in the case of CoinMENA fees tend to vary depending on the type of transaction.
However, huge transactions have discounts. Storage has never been better because CoinMENA comes with cold wallets which are operated offline. Clients are free from scams and wallet hacks.
The most recommended exchange for Middle East clients is Rain. It bears its roots in Bahrain and in actual fact, it is the pioneer in terms of Central Bank of Bahrain licensing. That was a regulatory milestone in itself.
Rain comes with an array of crypto exchanges from Bitcoin, Ethereum, Ripple to Litecoin. Countries like Oman and UAE have also embraced Rain.
Charges are pretty low through bank transfer (1.5%) while credit card transfer stands at 4%. However, if you think of depositing there are no charges.
Last on the deck of exchange selection is Matrix. Basing its operations in the United Arab Emirates, Matrix is good for UAE clients and many Middle East investors.
There are four cryptocurrencies available (Litecoin, Ethereum, Bitcoin, and Bitcoin Cash). For those interested, remember that the major currency used is USD. In the case that a client makes a deposit using a different currency, Matrix will convert to the suitable currency.
All these four crypto exchanges have gained a lot of appreciation from Middle East investors. If you are a prospective trader, you surely have your own selection and choice.
In the exchange mix is BitOasis. It was initially placed for operation in 2015 and from then onwards it has become one of the best when it comes to trades.
Bold traders and high-bidding investors have an opportunity to make a green leaf from BitOasis. Depending on transaction volumes and transaction positioning, investors get to be charged differently in terms of fees.
So in actual fact, the bigger the transaction volume, the smaller the amount charged. Do not worry really about regulation and security of funds because all that is covered through licensing.
When you seek to sign up, clients will be asked to fill in email details and thrice multi-signature system. This is all meant to guarantee as much security as possible.