How to Buy Bitcoin in UAE – Complete Guide

When it comes to buying Bitcoin in the UAE, there are plenty of options available. However, it can be challenging to determine which one makes the most sense for you. That’s why we made this guide to walk you through buying Bitcoin in the region.

Most of the users in the world of cryptocurrency buy their Bitcoin on an exchange. An exchange is a platform that gives users the ability to buy, sell, or trade their cryptocurrencies, like Bitcoin. Exchanges typically require users to create an account with an email address. Some also request additional, personal information to validate your identity.

There are several exchanges you can use to buy Bitcoin in UAE, however, we recommend sites like Plus500 and Paxful. Both exchanges give users a way to learn more about cryptocurrency with easy to navigate platforms and pleasant user experience. These two exchanges can’t be beaten when it comes to buying Bitcoin in UAE.

 

  • 📈 Trade: BTC, ETH, XRP, LTC, BCH & IOTA
  • 💰 Deposit Methods: Credit/DebitCard, PayPal, Skrill, Bank Transfer
  • ✅ Regulated
  • ✅ Plus500 is a CFD Broker Which Means No Need To Setup Crypto Wallets
  • 🎧 Support: 24/7 Live Chat & Email
  • ✅ Mobile App For iOS & Android

  • 📈 Trade: Bitcoin
  • 💰 Deposit Methods: Over 300 Including PayPal, Gift Cards & More
  • ❌ Regulated
  • ❌ No Need To Setup Crypto Wallet
  • 🎧 Support: Livechat & Email
  • ❌ Mobile App For iOS & Android

 

80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Plus500UK Ltd authorized & regulated by the FCA (#509909). You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the Plus500 website.

Ways to Buy Bitcoin in UAE

Stack of gold and silver bitcoins

Contract for Difference

When you use Contract for Difference (CFD) to buy, sell, or trade Bitcoin, you get the exposure you want to the cryptocurrency without ever holding any coins. It’s a great way to get started. You can purchase Bitcoin when the price is ideal and then close your contract when the price reaches what you want. You end up with the difference between the two prices, which is where the term Contract for Difference comes from.

Plus500 is the best option for using Contract for Difference to buy Bitcoin in UAE. Plus500 makes it easy to see the current Bitcoin price without setting up a wallet for offsite storage of your Bitcoin. It’s also well-regulated which eliminates the need for you to worry about others trying to scam you.

Not only does Plus500 help you get your feet wet with Bitcoin, but you can also view other cryptocurrencies on the platform to see how your portfolio is performing. Plus500 is easy to use on a desktop or the mobile app. If you’re looking for how to buy Bitcoin in UAE, Plus500 couldn’t make it any easier to keep an eye on all of your CFDs.

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Standard Crypto Exchange

If you’re not worried about easing into cryptocurrency slowly, you can try a platform like Paxful and dive in head first. Paxful is a full cryptocurrency exchange allowing you to buy, sell, and trade Bitcoin in UAE as long as you register for an account.

Paxful is the best standard crypto exchange because it is a useful way to buy Bitcoin in UAE. The user-friendly platform settings and operations provide users with a variety of ways to pay. The entire experience is a seamless way to buy, sell, or trade Bitcoin and other cryptocurrencies.


Plus500: The Best Place to Buy Bitcoin UAE

How to buy Bitcoin UAE with Plus500

Plus500 is a great CFD option if you prefer to use a contract for difference exchange. It’s an excellent way to buy Bitcoin in UAE without the needs to hold the cryptocurrency in a digital wallet. We highly recommend Plus500 as it gives users exposure to digital currencies, which has a certain appeal to some.

Head on over to the Plus500 site when you’re ready to stay buying Bitcoin. The first thing you’ll have to do is register. Select the blue “Start Trading Now” button in the middle of the page to begin.

Next, Plus500 wants you to choose which account type you want. The platform offers a Demo Mode if you want to learn more about Bitcoin without using your own money. For our guide, we’ll choose Real Money to move forward.

Also on this page are a pair of download links for the Plus500 mobile application. You can download it to either your Apple or Android smartphones or tablets, so you’ll have Plus500 at your fingertips wherever you go.

How to create a real money account on Plus500

Plus500 asks for your registration information on the following page. It’s a short form that only asks for a valid email address and your password. If you prefer, you can use a Facebook or Google account to register as well. Click on “Create Account” to move on to the next page.

Create Plus500 account

Now, Plus500 will want some personal information. The platform uses this for identity validation purposes. This is essentially their way of knowing exactly who is using the site at all times. Many exchanges ask for this type of data from users, so there’s nothing to worry about here. Consider it as an additional security layer which serves to protect Plus500 users, including yourself.

How to verify on Plus500

Once you’ve sent over the necessary documentation, Plus500 will validate and activate your account.

Funding Your Plus500 Account

Plus500 will send you a notification when your account is activated, which means you can begin to deposit funds. On the Plus500 platform, you can deposit your funds through wire transfer, Skrill, Paypal, or debit or credit cards.

How to deposit on Plus500

Your funds will show up in your Plus500 account after you provide the platform with your deposit information. When it does, it’s time to buy Bitcoin in UAE. On the left-hand side of the screen, you’ll notice a menu. Select “Trade” at the top to reveal another menu. Find and click on “Cryptocurrencies” to reveal a list of digital assets supported by the Plus500 platform.

At the top of the list is Bitcoin, which makes it perhaps the easiest cryptocurrency to “buy.” Choose Bitcoin, then click on the “Buy” button. A window will pop out from the right which gives you fields you can fill in for your CFD order.

Enter your purchase amount to tell Plus500 how much Bitcoin you want to buy. If you’ve done a CFD before, there are advanced options you can fill in. Once you’re satisfied with your choices, click on “Buy” to enter into your contract for difference.

How to buy Bitcoin in UAE on Plus500

Now, Plus500 will complete your order. You’ll get a notification letting you know that everything went through successfully. Additionally, you can see the Bitcoin you purchased, as well as your remaining funds, margin, and profit and loss.

Click on “Close” when you decide it’s time to end your CFD. You’ll receive the difference between the price of Bitcoin when you entered the contract, and the price at the end of your CFD.

How to sell Bitcoin in UAE on Plus500


How to Use Paxful to Buy Bitcoin in UAE

Paxful is a unique exchange in that it allows you to look for a seller to buy Bitcoin in UAE. But before you can do that, you’ll have to register with the site first. Paxful is an easy exchange to use, so let’s get to how you can use it to buy Bitcoin.

First, head on over to the Paxful site and click on the “Create Account” link located in the upper right corner of the home page.

How to create a Paxful account

A registration box will pop up, which you’ll need to fill out. Type in a valid email address, choose a username, then select a password. Click that you agree to the Terms of Service, let the site know you’re not a bot, and select the “Create Account & Free Wallet” button.

Soon after you complete registration, you’ll get an email requesting that you validate your address. When you click on the link, you’ll head back to the Paxful site where you can now start buying Bitcoin in UAE.

Before you start buying, however, we suggest you set up two-factor authentication (2FA). This provides an extra layer of security for any information you have on the Paxful site. The platform does not require that you set up 2FA, but taking a few moments to do so gives you added protection from hackers or others who have malicious intents on the site. We would recommend you do this on any exchange you use to buy cryptocurrency.

How to Buy Bitcoin in UAE with Paxful

The first thing to do when you’re ready to buy Bitcoin is to select how you want to pay for it. Paxful offers a wide variety of options, including Western Union, American Express, Paypal, Skrill, Apple Pay, and many more.

You may have a wider or narrower pool of sellers depending on the method of payment you choose. Once you’ve selected your payment method, you’ll type in the amount of Bitcoin you wish to purchase.

How to buy Bitcoin in UAE on Paxful
Find the blue button close to the right side of the page. Here you can select your preferred fiat currency. You shouldn’t have trouble finding yours as Paxful offers many. Now type in the amount of Bitcoin you want to buy. Click on “Buy Bitcoin Now” and Paxful will show you the available options.

As you review your options, you might notice that the Bitcoin prices are a little higher than on other crypto platforms. This is due to the added risk sellers take on when using Paxful. There is the potential that they may get scammed out of their Bitcoin by buyers who decide not to pay.

Plus, buyers can decide not to complete a transaction on their end. That opens the door for sellers to possibly lose both their Bitcoin and their fiat money. As a result, they raise their prices to create a safety net to protect themselves in the event something goes wrong.

Once you find a seller that looks like a good match for you, go over their terms. This will help you learn more about them as a seller so there won’t be any surprises during the transaction. The terms reveal exactly what the seller wants from you and tells you how the transaction will take place.

When you’re satisfied with the terms, click on the “Buy” button. Now the Bitcoin goes to an escrow account which is where it stays until the transaction is completed. Based on the instructions in the terms, pay the seller. Mark the completed transaction on your end by selecting “I Have Paid.”

Now the seller knows that you’ve paid for your Bitcoin. When the seller indicates that everything is satisfactory on their end, your Bitcoin is moved from escrow and into your wallet on Paxful. You have the option to store your Bitcoin on Paxful, or if you prefer, you can move it to an offsite Bitcoin wallet.


More Bitcoin Info

Learning as much as you can about something before doing it is always recommended, so when thinking about entering the world of Bitcoin, there are some important things to understand. Bitcoin was the first cryptocurrency to market in 2009 and was developed by a person who goes by the pseudonym Satoshi Nakamoto.

The Purpose of Bitcoin

The goal of Bitcoin is to give owners a way to store their cryptocurrency in a decentralized way. They want to give users a means for purchasing goods and services anywhere, any time without needing a third party such as a bank. Bitcoin is not affiliated with any specific bank, country, or government. And without the same outrageous fees that banks and credit cards charge, it just makes sense for individuals and businesses to use.

Who Can Use Bitcoin?

Anyone who wants to learn more about how cryptocurrency and decentralization works is an ideal buyer, seller, or trader of Bitcoin. It’s the most popular cryptocurrency in the world because it’s private and secure. For these reasons, a variety of industries are realizing the potential Bitcoin has to transform their business models.

Bitcoin is a fantastic way to store money outside of your traditional bank. Digital wallets are accessible from your desktop or smartphone and charge smaller fees with fewer regulations, making it more cost-effective and much simpler.

The only downside to using Bitcoin and other cryptocurrencies is that their digital wallets do not come with insurance like a typical bank or credit union. If you lose your wallet, there’s virtually no way to recover it. You must always secure your Bitcoin wallet so you know everything about your cryptocurrency activity all the time.

Pros and Cons

Listed below are some of the Pros and Cons you’ll encounter when using Bitcoin:

Pros
  • Bitcoin was the first cryptocurrency offering a way for users to store their assets digitally
  • Continues to gain adoption and popularity all over the world
  • Arguably the world’s most well-known cryptocurrency
  • Offers incomparable stability and longevity because it has been a player in the market for ten years
  • It can be found on almost all exchanges with ways to buy, sell, and trade
  • You can purchase large or small pieces of Bitcoin as you please
Cons
  • All cryptocurrency comes with inherent buying risks
  • Value has a tendency to change dramatically in short periods of time

Is Bitcoin a Good Investment?

Predicting the future of Bitcoin or any other cryptocurrency is nearly impossible. There are innumerable charts analyzing historical data to attempt to predict what will happen. However, it can still be a good investment.

Bitcoin has been around for a decade this year, so while the value can fluctuate from day to day, it still holds a solid position among the cryptocurrency and financial industry. It’s well-known, so it will likely be around for a long time to come.

If you’re trying to determine whether Bitcoin is a reliable investment option, consider these things:

  • It’s the most popular cryptocurrency in the world
  • It remains the standard by which all other digital currencies are measured
  • It’s much less of a risk than other, less known cryptocurrencies
  • Almost all exchanges allow you to buy, sell, or trade Bitcoin
  • It holds great potential for the future as a store of value
  • It leads the way in adoption efforts for all cryptocurrency

The cryptocurrency industry is volatile. There continue to be risks associated with investing in Bitcoin and all other digital currencies. However, it’s highly unlikely that Bitcoin is going away anytime soon. To learn more about Bitcoin analytics or where analysts think cryptocurrency trends are going, look into Trading View or CoinMarketCap.

 

  • 📈 Trade: BTC, ETH, XRP, LTC, BCH & IOTA
  • 💰 Deposit Methods: Credit/DebitCard, PayPal, Skrill, Bank Transfer
  • ✅ Regulated
  • ✅ Plus500 is a CFD Broker Which Means No Need To Setup Crypto Wallets
  • 🎧 Support: 24/7 Live Chat & Email
  • ✅ Mobile App For iOS & Android

  • 📈 Trade: Bitcoin
  • 💰 Deposit Methods: Over 300 Including PayPal, Gift Cards & More
  • ❌ Regulated
  • ❌ No Need To Setup Crypto Wallet
  • 🎧 Support: Livechat & Email
  • ❌ Mobile App For iOS & Android

 

80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Further Reading At TotalCrypto.io
1) Technical Analysis Can Help You Make The Right Decisions In Your Crypto Trades. Learn All About Technical Analysis & How IT Can Take Your Trading Game To The Next Level.

2) The Top Four Crypto Trading Mistakes To Avoid. Learn All About It & Save Yourself Some Costly Mistakes.

3) Crypto Trading Is All About Managing Risk. Learn The Basics Of Trading Risk Management To Take Your Trading Game To The Next Level.

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DISCLAIMER: Be aware that the activity of cryptoassets mentioned in this article is unregulated. This article must not be construed as investment advice. Always do your own research.

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