5 Best Crypto Exchanges in Dubai (UAE) 2024

Dubai is a leading city in innovation and technology, and it has a friendly and supportive attitude toward blockchain and digital assets. 

In fact, Dubai has its own official cryptocurrency, called “Emcash”, which can be used to pay for various government services.

If you want to buy crypto assets in the UAE, you need exchanges. But not all crypto platforms are the same. Some may have better features, fees, security, and support than others. 

That’s why I have done a lot of research and testing to find out the best crypto exchanges in Dubai.

List of Best Crypto Exchanges In Dubai: Our Top Picks

1. Binance: Best for High Liquidity and Volume
2. Bybit: Best For Copy Trading
3. eToro: Best for Crypto and Forex Trading
4. BitOasis: Best For Buying Bitcoin in Dubai
5. Rain: Best For Low Fees Trading in UAE

Comparison between Best Dubai’s Crypto Exchanges

What are The Best Crypto Exchanges In Dubai (Review)?

Binance: Best for High Liquidity and Volume

Binance is the biggest crypto exchange in the world and has secured a virtual asset license from VARA, Dubai’s Virtual Asset Regulatory Authority.

You can trade more than 350 cryptocurrencies with high liquidity and low fees on Binance’s spot market. It also allows futures trading with up to 125x leverage. 

Binance has margin trading, where you can borrow funds from its margin pool and trade with 10x leverage. You can earn interest on your idle crypto assets by lending them to Binance’s savings pool or subscribing to flexible or locked savings products. 

It also offers other yield-generating products such as savings, staking, liquid swap, dual investment, etc.

Pros of Binance

1. 100% solvent with 1:1 backed assets (check Defillama for solvency)
2. Fast trading engine with high market depth
3. A large number of trading pairs
4. High security with 2FA, anti-phishing codes, and cold storage
5. Launchpad for investing in new projects

Cons of Binance

1. Low market cap altcoins are not available
2. It has faced some legal issues in different countries (specifically the USA)

Related: Binance Review

Bybit: Best For Copy Trading

Bybit is another leading crypto platform in the UAE. Its global headquarters are located at One Central, Dubai World Trade Centre. It has more than 15 million users around the world and has grown its client base by 50% in the last year.

Bybit has a user-friendly interface, high liquidity, low fees, and advanced security features. You can also try futures, margin, and options trading on the platform.

If you prefer perpetual swaps, you can trade contracts with up to 100x leverage. Bybit also offers cloud mining, where you can rent computing power from Bybit to mine cryptocurrencies without having to buy or maintain hardware or software.

It is most popular for its “copy trading” feature. You can earn profits by following and copying the trading strategies of other successful traders.

Pros of Bybit

1. NFT marketplace for digital art lovers
2. Low fees for spot and derivatives market
3. Bybit defi wallet for dApps
4. High LTV crypto loans
5. Automated GRID and DCA trading bot
6. It offers a Bybit crypto debit card

Cons of Bybit

1. It does not support all crypto coins
2. Advanced features need technical knowledge

Related: Bybit Review

eToro: Best For Crypto and Forex Trading

eToro is more than just a crypto exchange. It’s a social trading network that connects you with millions of other investors around the world. You can learn from them, share your ideas, and even copy their trades with a single click.

It lets you buy, sell, and trade over 80 crypto coins. You can also access thousands of other assets, such as stocks, ETFs, commodities, and currencies.

You can also enjoy top-notch security and regulation on eToro, as it follows the highest standards in the industry.

Pros of eToro

1. Follows the rules of the FCA, CySEC, and ASIC
2. Demo trading with $100,000 in a virtual portfolio
3. Latest crypto market research & news
4. Advanced charts and analysis tools
5. Staking services for long-term HODLers

Cons of eToro

1. It supports only 80 cryptocurrencies
2. Comparative high fees of 1% per trade
3. Not approved by the UAE authorities, such as the DFSA and ADGM

BitOasis: Best For Buying Bitcoin in Dubai

BitOasis is the leading UAE-based crypto exchange. You can buy, sell, and trade over 60 crypto assets, such as Bitcoin, Ether, and Bitcoin Cash, with your local currency (AED). 

You can also use advanced trading tools and charts on “BitOasis Pro”, or keep track of your portfolio on your laptop or mobile device on “BitOasis Lite”.

BitOasis serves customers in 14 countries across MENA. It has also received provisional approval from ADGM. It is also registered with the central bank and follows anti-money laundering rules.

You can also enjoy zero fees on deposits and withdrawals, as well as competitive trading fees.

Pros of BitOasis

1. User-friendly tools for investing and trading crypto for all levels of experience
2. OTC desk for high-volume traders
3. It supports local currencies (AED) for deposits and withdrawals
4. Highly regulated and trusted

Cons of BitOasis

1. Serves customers in the Middle East only
2. High minimum deposit of AED 500 for bank transfers
3. Only support high market cap cryptocurrencies

Rain: Best For Low Fees Trading in UAE

Rain is the first licensed crypto exchange in the Middle East. It operates in Bahrain and serves five countries in the region. It also has the support of reputable investors such as Coinbase, Vision Ventures, and MEVP.

You can swap Bitcoin and other cryptos with zero fees. It gives you access to over 70 cryptocurrencies that you can trade on their platform. You can also track your portfolio performance across all your devices and see detailed insights.

Rain also has an Over the Counter (OTC) desk for those who want to trade large amounts of digital assets. With this, you will not have any liquidity issues when trading high volumes.

Pros of Rain

1. Easy-to-use platform
2. Bank-grade security with cold storage system
3. Licensed and regulated by the Central Bank of Bahrain
4. Low trading fees
5. Responsible customer support

Cons of Rain

1. No advanced features like Margin, Futures, and copy trading
2. Recorded high scheduled downtimes

Methodology: How to Choose Best Crypto Exchange in UAE

• Research the regulatory environment and choose licensed exchanges.
• Ensure the exchange has strong security measures, like 2FA and cold storage.
• Check if the exchange supports the cryptocurrencies you want to trade.
• Consider liquidity and trading volume for quick and fair transactions.
• Evaluate the user interface and experience of the exchange.
• Compare fees and trading costs to find competitive pricing.
• Look for convenient payment methods that suit your preferences.
• Ensure the exchange provides responsive customer support.
• Research the exchange’s reputation and read user reviews.

How Can I Buy Crypto in Dubai?

1. A “local crypto exchange” is an option that lets you buy various cryptocurrencies with UAE Dirham, such as Rain and BitOasis. You have to sign up and verify your identity with the exchange. Then you can use your bank account, credit card, or other payment methods to buy crypto.
2. An “international crypto platform” is another option. They have many users and high trading volumes, such as Binance, Bybit, or eToro. 
3. You can also use “Bitcoin ATMs” to buy BTC with cash. You can locate a Bitcoin ATM near you using a map service like Coin ATM Radar. Now, scan your Bitcoin wallet address and put cash into the machine. Then you will get Bitcoin in your wallet.
4. A “peer-to-peer (P2P) exchange” can connect you with other crypto buyers and sellers. Binance has the biggest P2P market in the crypto industry. You can select your preferred payment method and currency. Then you will contact the seller and make the trade. You may face higher risks of fraud and scams, so be careful with this method.

Final Thoughts

You have many choices for crypto platforms in Dubai, but some are better than others in terms of reliability, security, and convenience. 

You must look for a platform that has a license from the Abu Dhabi Global Market Authority (ADGM), charges low or no fees, supports a variety of coins, and lets you deposit United Arab Emirates Dirham (AED). 

Some of the top crypto exchanges in Dubai that fit these criteria are Rain, eToro, Binance, and BitOasis. These platforms have been in business for a long time and have gained the trust of millions of users around the world.

I hope this article helps you to find your crypto platform. 😊

FAQs

Which Crypto Exchange is Best in the UAE?

“Binance” is one of the best crypto exchanges in the UAE. It has a lot of options for trading crypto, like spot, futures, margin, and options. 

It charges low fees, starting at 0.1% for spot and 0.02% for futures. The exchange also has a lot of liquidity and volume, so you can buy and sell crypto easily.

Is Crypto Tax-Free in Dubai?

Yes, crypto is tax-free in Dubai. It does not tax income or capital gains for individuals or businesses. So, any money you make or lose from crypto trading or investing is not taxed in Dubai.

Which Banks are Crypto-Friendly in Dubai?

Some of the banks that are most friendly to crypto are Emirates NBD, First Abu Dhabi, and RAK Bank. These banks allow you to use your bank account to deposit or withdraw money from crypto exchanges or brokers that are licensed by the ADGM or other authorities.

Related:

1. Best Crypto Exchanges USA 
2. Best Crypto Exchanges Canada
3. Best Crypto Exchanges Australia