It is difficult to know which crypto exchange is suitable for your requirements until you do a little bit of research.
You also need to assess what payment methods are accepted and whether a reasonable level of customer support is offered.
For instance, you can deposit funds in AED and the transaction will cost you just 0.5% across all supported markets.
Moreover, residents in the UAE can also use eToro to trade commodities like oil, natural gas, and gold.
When it comes to core investment tools, eToro offers a copy trading tool that allows you to follow and automatically mirror the positions of an experienced trader.
If you wish to get some practice in before you start buying and selling cryptocurrencies, eToro also offers a free demo account that comes packed with $100k in paper funds.
Then, you will pay a debit/credit card fee of 2.99% and your chosen digital tokens will then be added to your portfolio.
If you wish to use the Crypto.com exchange to trade digital currency pairs – such as BTC/USD or DOGE/USD, you will only pay a commission of 0.40%.
If you decide to buy digital currency here and HODl your investment in the long run, Crypto.com offers industry-leading security tools.
You might also decide to use Crypto.com for its popular wallet – which allows you to retain control of your private keys.
You will often find that this exchange facilitates over $10 billion per day in volume, so naturally – liquidity levels here are significant.
Binance uses a third-party payment processor for debit/credit card payments that are executed from the UAE, so fees will vary depending on the provider.
In total, Binance is now home to over 600 digital currencies, so this exchange is also a good option if you wish to build a diversified portfolio.
You can also trade crypto derivatives on margin here via futures with much higher levels of leverage on offer.
After making a deposit into your account via a bank wire, you can then buy crypto at just 0.26% per slide.
The platform was first launched in 2011 and you will benefit from a wide range of internal security tools.
Coinmama is home to a simple crypto exchange that enables you to buy digital currencies with a credit card.
In order to buy your chosen token, you will need to open a Coinmama account and upload some ID.
In doing so, Coinmama will automatically transfer the funds to your stated wallet address – so ensure that this is entered correctly.
This is also the case with the platform’s buy commission of 3.90% and 0.90% on sell orders.
BitOasis – which is based in the UAE, specializes in offering crypto exchange services to Middle Eastern clients.
It’s just a case of choosing which cryptocurrency you want to buy alongside your stake and confirming the order.
On the other hand, if you trade crypto-cross pairs like ETH/BTC or SUSHI/USDT, you will pay a commission of 0.15%.
This is because the payment processor settles the payment in USD and then BitOasis will convert this to AED.
It holds licenses with several tier-one bodies – such as ASIC, the FCA, and CySEC.
In contrast, Coinmama offers a bare basics service, insofar that you are required to enter your wallet address when you buy crypto.
All of the top crypto exchanges in the UAE that we reviewed today accept bank wire transfers.
You will need to make a deposit of at least $50 before you can buy crypto at eToro.
We also like that eToro charges just 0.5% on debit/credit card deposits and you only need to fund your account with $50 to get started.
Kane Pepi is an experienced financial and cryptocurrency writer with over 2,000+ published articles, guides, and market insights in the public domain.