FAQ?
Is there bitcoin in Saudi Arabia?
While Bitcoin mining data is scarce from Saudi Arabia, the country is venturing into developing its own digital currency jointly launching it with the United Arab Emirates. Even though are two Bitcoin ATMs in Saudi Arabia, the use of bitcoin within retail is a different story.
Is cryptocurrency legal in Saudi Arabia?
Even so, in a country like Saudi Arabia where the legality of cryptocurrency is vague, peer-to-peer platforms like Paxful tend to be increasingly more popular. Besides these exchanges, there are also other methods for purchasing Bitcoins. For example, LocalBitcoins is available in Saudi Arabia which allows you to directly connect with buyers.
How much can you buy bitcoin in the UAE?
As of now, you can buy up to $1,350 of BTC weekly without any verification. Bear in mind, however, that you will have to convert your fiat to the AED before trading which could add an extra cost. As of spring 2019, BitOasis has reportedly secured preliminary approval with financial regulators from the UAE.
Is coinmama a good option to buy bitcoin?
Yet, the common complaint about CoinMama is its high fees which can go as high as 6%. However, for Saudis looking to purchase Bitcoin, it is a small price to pay given that there are not many options available. Assess whether you believe the fee to be worth it or just use BitOasis.