A Guide to Crypto in the GCC
New to buying crypto and don’t know where to start? Here’s a guide to the crypto market.
Digital CO
Digital CO is a Bahrain-based company that provides quality crypto mining solutions. They deliver services including crypto consultancy, crypto hardware and software, crypto delivery and installation test commissioning, technical and environmental advice, as well as after sales support. Moreover, Digital CO design and build their own mining systems to fit the needs of their clientele.
To know more about Digtial CO’s services, visit their Instagram @dcryptomining.bh or call +973 33301019.
Rain
Rain is a licensed cryptocurrency brokerage and custodian servicing the Middle East, Turkey, and North Africa. Moreover, they are licensed and regulated by the Central Bank of Bahrain. It is a trading platform that allows you to buy cryptocurrencies like Bitcoin, Litecoin, Ethereum, XRP, USDT, and many others. You can use your bank account to conveniently purchase cryptocurrency through this user-friendly app.
Rain currently supports trading in the following local currencies: Bahraini Dinar (BHD), Turkish Lira (TRY), United Arab Emirates Dirham (AED), Omani Rial (OMR), Saudi Riyal (SAR), Kuwaiti Dinar (KWD), and Qatari Riyal (QAR).
Trading fees: 0%
CoinMENA
Headquartered in Bahrain, CoinMENA is a Sharia-compliant crypto-assets trading platform that is licensed and regulated by the Central Bank of Bahrain (CBB). Through CoinMENA, users can buy, sell, store, and receive digital assets safely and securely, as well as deposit and withdraw in their local currency.
The exchange platform is available in Bahrain, United Arab Emirates, Saudi Arabia, Kuwait, and Oman.
Trading fee: 0.75%
Coinbase
Coinbase is a digital currency wallet and platform where merchants and consumers can transact with new digital currencies like bitcoin, ethereum, and litecoin. Coinbase is a distributed company; all employees operate via remote work and the company lacks a physical headquarters. It is the largest cryptocurrency exchange in the United States by trading volume.
Trading fee: Charges a flat fee (changes according to the size of your transaction)
Binance
Binance is the largest cryptocurrency exchange in the world in terms of daily trading volume. It was founded in 2017 and is registered in the Cayman Islands. Initially based in China, it moved after the country’s increasing regulation of cryptocurrencies.
Binance is more than an exchange, with an ecosystem that includes programs for crypto start-ups, NFTs, and developers/contributors. Its main exchange is not licensed in the USA, but has a separate exchange called Binance.us for users wishing to trade in the USA.
Trading fee: Charges a maximum of 0.1% decreasing based on funds/trade amount
KuCoin
Headquartered in Singapore, KuCoin Exchange is also known as “The People’s Exchange”. The platform offers a KuCoin wallet that is protected by multilayer encryption and offline storage through bank safe and/or funds escrow. KuCoin also comes with profit sharing among token holders.
KuCoin is a large global exchange that offers several features and tools that could appeal to more advanced traders. It is not licensed to operate in the US but covers a wider number of cryptocurrencies than most exchanges.
Trading Fee: Charges a maximum of 0.1% decreasing based on your last 30-days trading volume.
