-63B5D53BB4DBC007517C2B9F8545E693 All you need to know about Crypto Exchange and Brokerages in MENA Region

All you need to know about Crypto Exchange and Brokerages in MENA Region

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    All you need to know about Crypto Exchange and Brokerages in MENA Region



    Are you a resident of the MENA countries? Or do you wish to trade with cryptocurrencies living in the MENA region? Then do not look any further. We have presented a few of the top-notch cryptocurrency exchanges for MENA residents. Review the given crypto brokers in GCC and choose the best of them.

    What is a Cryptocurrency Exchange?

     An online platform where users may trade cryptocurrencies, altcoins, and stable coins is a cryptocurrency exchange. The platform allows users to buy, sell, or rent their cryptocurrencies. However, when you are on the lookout for the best crypto brokerage, try considering the following factors for the best customer experience:

    •User interface.
    •Geographical limitations.
    •Transaction fees.
    •Payment methods. 
    •The security.
    •The types of cryptocurrencies offered.

    Top 5 Crypto Exchanges

    If you are looking for some top crypto exchange platforms, consider, analyze, and choose from the given five crypto brokers in GCC.

    BitOPros: 


    BitOasis was founded in 2015 by Ola Doudin and Daniel Robenek, and today it is known as the top cryptocurrency platform in the MENA region. Besides this, it is also one of the largest, oldest, and most reliable platforms based in the UAE. It is the first-ever regulated exchange in the MENA region.

    Pros:

    •Users can purchase crypto through their credit and debit cards.
    •You can use crypto for deposits and withdrawals.
    •The platform supports crypto-to-crypto trading for altcoins against BTC in many pairs. For instance, (XRP/BTC), (ETH/BTC), (ZEC/BTC), (LTC/BTC), (ETC/BTC), and (BCH/BTC).

    Cons:

    •There are a limited number of cryptocurrencies available. However, all of the coins and tokens are reliable and well-known.


    CoinMENA


    Founded by Dina Samaan and Talal Tabaa in 2020, CoinMENA is a Sharia-compliant crypto exchange based in Bahrain. Users can buy, rent, sell, store, receive, withdraw, or deposit their assets.

    Pros:

    •The Shariyah Review Bureau has certified the Sharia Compliant.

    •The platform has no trading fee.

    •It is regulated officially by a licensed operator, the Central Bank of Bahrain
    Users can utilize their native currencies to trade, deposit, and withdraw cryptocurrencies.

    Cons:

    This exchange allows trading with only five cryptocurrencies.

    CEX IO


    CEX IO is a UK-based crypto exchange founded by Oleksandr Lutskevych in 2013. The exchange was among the first platforms to enable fiat-to-crypto transactions with bank transfers and card payments globally.

    Pros:

    •Competitive fees.

    •Users can pay through MasterCard, Visa, bank transfer (SWIFT, SEPA, ACH, Faster Payments), or cryptocurrency.

    •You can find around 200 crypto markets within this platform.

    Cons:

    •Limited coins.

    •Operates in other states as well.

    •The platform asks for a $20 minimum for card deposits.

    Binance


    Binance is the leading cryptocurrency exchange globally. Changpeng Zhao founded it in 2017. The trading volume of this platform is comparatively higher.

    Pros:

    •Transactions are rapid and cheap.

    •You can find numerous coins and tokens among all exchanges.

    Cons:

    •Complicated account verification process.

    •Customer support is limited.

    •You can not use local currencies.

    •Not fully regulated.

    Rain

    Rain is a reputable cryptocurrency exchange in the UAE, Saudi Arabia, and Oman. It is a Bahrain-based exchange founded by Abdullah Almoaiqel, AJ Nelson, Joseph Dallago, and Yehia Badawy in 2017.

    Pros:

    •The exchange allows licensed native currencies.

    •The use of credit or debit cards is permitted.

    Cons:

    •Only caters to Bahrain, Kuwait, Oman, Saudi Arabia, and UAE residents.

    •The fees and buying limits are high.

    •Users can only trade four leading cryptocurrencies.

    Even though cryptocurrencies have gone a long way since their inception, a significant percentage of the globe has yet to embrace them. Despite being the king of digital assets, they still require greater acceptance and care. And when it comes to the Middle East, the GCC has far fewer crypto brokers than the rest of the region. Only the advent of crypto exchanges, which will assist Middle Eastern residents in acquiring cryptocurrency, can close this gap.

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