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Top 3 Exchanges to buy Bitcoin in Saudi Arabia

BuyBitcoinSaudiArabia provides the most up-to-date, honest reviews and information of top-rated cryptocurrency exchanges in the World. Our panel of crypto specialists put-in all the research to bring you the latest data and news. This comparison tool helps you with choosing the right exchange easily.

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Binance

  • Binance has the lowest transaction fees, approx 0.1 to 0.2%

  • The exchange is operating in over 190 nations.

  • Use BNB to get a 25% discount on transaction fees.

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Huobi
 

  • The trading fees of this exchange is between o.1 to 0.4%

  • You can purchase Bitcoin using a credit/debit card and SEPA.

  • Available in over 130 countries.

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Kraken

  • The trading fees of this exchange is between o.1 to 0.4%

  • The exchange is operative in more than 190 countries

  • You can buy Bitcoin using a credit/debit card and SEPA.

Binance is one of the world’s leading crypto exchanges, founded by Changpeng Zhao in China, 2017. In terms of trading volumes, Binance is ranked no.1. Not only does it offer crypto exchange services, but it also provides a safe & secure wallet solution to store your digital assets.

The exchanges support a daily trade volume of 10 to 12 billion, and 12 million daily active users. It allows the transaction of over 230 digital currencies.

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  • It has a low trading fee, ranging between 0.1 to 0.2%.

  • Support a wide range of currencies, 230+.

  • Special rewards for NEO holders.

  • You can buy Bitcoin using a credit/debit card.

  • Has a processing speed up to 1.4 million orders.

  • Binance has a special fund known as SAFU which acts as a protection against theft and hacking.

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  • Binance doesn't have a long market history.

  • The exchange had been the victim of multiple hacking, approx $40 million worth Bitcoin stolen.

Huobi Global was established in 2013 by a Chinese former Oracle engineer, Leon Lin. In 2014, the exchange gained immense popularity, and managed funding from top global investors such as Sequoia Capital. With each passing year, Huobi Global has expanded, and has partnered several subsidiaries in over 12 nations, with 1300 employees across the globe.

 

In 2017, Huobi Global shifted its headquarters to Singapore from China after a crackdown on crypto exchanges in China. As per the official data, Huobi Global 5 million users and daily trade volume between 2 to 5 billion. The exchange’s exclusive currency, Huobi Token has performed exponentially well on the global front, and the price of token surged from $1.52 to $4.

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  • It supports 2 to 5 billion transactions per day.

  • Compatible with a multitude of devices.

  • Operative in 190 countries.

  • It has a user protection fund.

  • Highly volatile live trading.

  • It has more than 5 million active users.

  • Supports both margin trading and margin funding.

  • It supports two languages.

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  • Daily cap of $2,000, and $10,000 per month.

  • A high transaction fee of 8% for buying a digital currency with a credit/debit card.

  • Doesn’t allow wire transfer.

buy bitcoin Kraken

The Kraken exchange’s development commenced in the year 2011, and in 2013 the exchange was officially launched. For the first couple of years, Kraken was dealing with Euro, Litecoin, and Bitcoin, then later on expanded to numerous cryptocurrencies. Hummingbird Ventures invested $5 million in Kraken, and other top investors included Bitcoin Opportunity Fund.

 

Kraken is available in more than 180 countries, across four continents. The exchange offers a margin trading with $5 leverage. It has over 2.2 million active users with ten different digital currencies.

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  • It supports margin trading.

  • Available in over 180 nations.

  • Fund processing takes one to five days.

  • Supports five fiat currencies.

  • It allows SEPA, Swift, and Wire Transfer.

  • There is no withdrawal cap.

  • Safe & secure bitcoin exchange.

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  • The customer support is not up to the mark.

  • The trading fees are relatively on the higher side.

  • Lengthy & complicated KYC verification.

We assure you that we provide our honest piece of review, no biasing whatsoever. We receive affiliate commission when you invest in cryptocurrency via the link on our website. The profits are reinvested in the development of the exchange, and motivate our team to go that extra mile in helping you pick the right exchange.

 
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​Understanding Bitcoins

So, considering making an investment in Bitcoin? Here’s what you need to know. Bitcoin is the world’s first digital currency launched in 2009. It is based on the Blockchain technology; Bitcoin was created by a mysterious Japanese man, Satoshi Nakamoto. You can buy Bitcoin using your local fiat currency, but unlike our currency, it is not administered by any government authority or government directly.

 

Whenever a transaction takes place, the Bitcoin network creates a block that contains the information. Bitcoins is not issued, instead created via a process known as Bitcoin mining.

  • First-ever digital currency founded in 2009.

  • Satoshi Nakamoto is the godfather of the digital currency.

  • Highly-volatile currency.

  • There are over 21 million Bitcoins to trade.

  • Nobody owns the Blockchain network of Bitcoin.

  • The total worth of Bitcoin is $100 million.

  • You can acquire Bitcoin by purchasing or buying.

  • Anyone with computer hardware can buy Bitcoin.

To get more insight on cryptocurrency, check What is cryptocurrency?,  Buy Bitcoin Now or Top places to Buy Bitcoin.

The Money System

For a fiat currency system the central authority, a bank, or government authorized department looks after each and every transaction that takes place, both domestically and internationally. In this system, there are intermediates involved in the process of each transaction.  For instance, if you want to send money to your friend anywhere in the world, you’ll have to require a bank to confirm the transaction, and it takes three to seven days.

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Operation of Bitcoin

Bitcoin is a peer-to-peer decentralized system, where there are no intermediates for processing the transaction. Each transaction is validated by the computers on the Blockchain ledger. As a matter of fact, you are your own bank, therefore, the transaction can be tracked & traced easily. It takes minutes for a Bitcoin transaction to complete. And, the fascinating part, the total amount of Bitcoins is 21 million. No more can be issued. 

 

Cryptocurrency Risks

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Price Variability

Bitcoin and the price of other digital currencies are highly volatile; it can suddenly climb and fall down in just 24 hours. It is because the prices of Bitcoin are governed by market sentiment. Thus, with volatility, the Bitcoin investors run the risk of losing their investments.

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Scams Run High

There are hackers and scammers phishing out for cryptocurrency exchanges and wallets to steal digital currencies.  If someone gets access to your user account, they’ll be able to wipe your funds right away. It is advisable to access your account offline and have a strong password.

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High Transaction Fees

There are some exchanges out there which charge unethically, and generally newbies fall for them. To save every Bitcoin investor and trader, we’ve built this site. Updated regularly to provide you with the most up-to-date information. Several reports suggest that approx $70 million digital currencies have been stolen over the past few years, highlighting the magnitude of security concerns.

Disclaimer

The website BuyBitcoinSaudiArabia.com is merely for educational purposes. You must seek the advice of your financial advisor to guide you with making cryptocurrency investment, and potential risks associated. BuyBitcoinSaudiArabia.com doesn’t provide any legal services. As a piece of advice, invest how much you are ready to lose. You can always speak to our legal team for any advice. We receive an affiliate commission from Bitcoin wallets and crypto exchanges.