Best Crypto Exchange in Kuwait 2023

Although legislation is still relatively strict compared to other countries, Kuwait has begun to open its doors to cryptocurrency trading, with many top brokers and exchanges now serving clients based in the country. However, now that the broker selection has widened, it’s vital to choose a safe and reliable platform.

With that in mind, this guide will discuss the best crypto exchange in Kuwait, covering which platforms have the lowest fees and highest regulation, before highlighting how to make a crypto investment in Kuwait today – all in a matter of minutes.

The Top Bitcoin Exchanges in Kuwait Reviewed

Choosing the best crypto exchange in Kuwait can be challenging, especially since the regulatory landscape is ever-changing. Each platform will have its own rules on accepting Kuwait-based clients and rules on minimum deposit requirements and accepted funding methods.

To help streamline the decision-making process, we’ve narrowed down the selection to seven of the best crypto exchanges in Kuwait – all of which are reviewed below:

1. eToro – Overall Best Crypto Exchange in Kuwait

Through extensive research and testing, we’ve found eToro to be the best Kuwait crypto exchange. eToro is one of the world’s largest online brokerages, with 27 million registered users as of mid 2022 across 40+ countries – including Kuwait. The broker itself is regulated by many of the world’s leading regulatory bodies, such as the FCA, ASIC, CySEC, FinCEN, and FINRA.

eToro offers over 70 cryptocurrencies to trade, including Bitcoin and a selection of well-known altcoins and DeFi tokens. The exchange has recently changed its fee structure, so now users will only have to pay a flat fee of 1% per trade, plus the market spread. This ensures that costs are always transparent since eToro doesn’t charge any other hidden fees or account management fees.

When investing in crypto, the minimum trade size is only $10 (3.06 KWD), making it easy for beginners to start trading with small amounts. In terms of account funding, since eToro operates in USD, any non-USD deposit will incur a nominal 0.5% conversion fee. However, making a deposit is quick and easy since eToro accepts credit/debit cards, PayPal, Neteller, Skrill, and bank transfers from Kuwait-based clients.

Notably, the minimum deposit amount is slightly higher for Kuwaiti clients, set at $1,000 (306 KWD). However, users can immediately begin trading on eToro’s web-based platform or the handy mobile app once a deposit is made. The latter is ideal for trading on the go, featuring real-time price charts and a wide selection of technical indicators. There’s even scope to begin with a demo account, enabling users to test the platform without using real money.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

2. Crypto.com – Top Kuwait Crypto Exchange with Low Trading Fees

Another of the best Kuwait crypto exchanges is the Crypto.com exchange. Crypto.com has become one of the most widely-respected trading platforms in the industry, offering over 250 cryptocurrencies for users to trade. This selection includes well-known coins like BTC and ETH and a wide array of DeFi tokens and crypto-to-crypto trading pairs.

Crypto.com users can trade on the web-based exchange or the mobile app. Users who opt for the former will pay a maker/taker fee of 0.4% per trade – although this can be reduced by 10% if the fee is paid in CRO. Alternatively, users who wish to buy cryptocurrency instantly can do so using Crypto.com’s mobile app, which accepts credit/debit card payments.

Buying crypto in this manner will be more costly, as a 2.99% transaction fee accompanies each investment. However, this fee is waived for a user’s first 30 days of trading. For users who don’t wish to purchase using a credit/debit card, Crypto.com also accepts crypto and FIAT deposits – both of which are free to make.

Aside from the Crypto.com exchange’s trading services, this platform offers several additional services, such as crypto staking, crypto loans, and even a proprietary DeFi crypto wallet. This wallet supports a range of tokens and boasts two-factor authentication for security. Users can even earn interest on over 30 tokens through the wallet app – with no lock-up term.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

3. Coinbase – Global Crypto Exchange Suitable for Beginners

One of the top crypto exchanges in Kuwait for beginners is Coinbase. Coinbase has a stellar reputation due to its streamlined trading experience, with users able to invest through the mobile app or web-based exchange (called Coinbase Pro). The former can be downloaded on iOS or Android and is tailored towards beginners, featuring a sleek interface and the ability to purchase crypto using a credit/debit card.

Users with more experience can trade on the Coinbase Pro exchange, which features real-time order book information, in-depth charting tools, and a dynamic fee structure. Coinbase Pro offers over 100 cryptocurrencies to trade, with taker fees set at 0.60% per trade for a monthly trading volume of less than $10,000 (3059 KWD).

On the other hand, users who trade through the app can purchase crypto instantly using a card, costing 3.99% per trade. The fees on the Coinbase app can be relatively high since a volume-based commission is also charged, with another fee based on the payment method used. However, aside from costs, Coinbase excels when it comes to trading features, as users can benefit from the platform’s free crypto wallet app, which supports over 100,000 tokens and allows users to browse the decentralized web.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

4. Binance – Best Bitcoin Exchange in Kuwait for Asset Selection

For investors aiming to partner with the best crypto exchange in Kuwait for asset selection, look no further than Binance. Binance is one of the biggest crypto exchanges globally, offering over 600 crypto-assets to trade. Alongside this vast selection, Binance also offers various derivatives markets, significantly increasing the investment opportunities for advanced traders.

In terms of fees, Binance only charges a 0.1% commission whenever a trade is opened or closed – although this can be reduced by 25% if fees are paid in BNB. For users who wish to purchase instantly using a card, fees are set at 3% per transaction. However, since the card purchasing process is facilitated in USD, Kuwait-based traders will also have to pay a foreign transaction fee – which varies depending on the provider.

Binance is also one of the best Kuwait crypto exchanges for trading features since users can also utilize ‘Binance Earn’ to begin generating attractive yields on idle crypto holdings. There’s also a staking service, which can offer better returns, yet requires a lock-up period. Finally, Binance even offers a crypto credit card, enabling users to spend their crypto holdings on goods and services, much like a regular debit card.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

5. BitOasis – Popular Kuwait Bitcoin Exchange Based in the MENA Region

One of the best cryptocurrency exchanges based in the MENA region is BitOasis. The platform was launched back in 2015 and has grown rapidly over the past few years, facilitating over $3 billion in trading volume. BitOasis allows users to invest in over 40 well-known cryptocurrencies using either AED or SAR.

The platform also offers over 90 crypto-to-crypto trading pairs, significantly boosting investment options for experienced traders. Notably, BitOasis secures customers’ holdings in cold storage – although it does not possess any direct regulation within the region.

Users can trade on the BitOasis Core browser-based platform or the BitOasis Pro platform – with the latter featuring advanced charting tools and various order types. Like many Bitcoin exchanges, BitOasis charges maker/taker fees, starting at 0.25%/0.50% for 30-day volume under $250,000 (76,500 KWD). Finally, BitOasis does allow Kuwait-based traders to make FIAT deposits using a credit/debit card. 

6. Rain – Best Cryptocurrency Exchange in Kuwait for High Security

Rain is a Bahrain-based trading platform and one of the most widely-used cryptocurrency exchanges in the Middle East. The exchange was launched in 2019 and has built up a stellar reputation due to its 0% trading fee approach. Rain is licensed by the Central Bank of Bahrain and offers over 50 cryptos for users to trade.

Rain also stores customers’ holdings in cold storage and employs bank-grade security to offer the highest level of protection. As touched on above, Rain doesn’t charge any fees for buying or selling crypto and also accepts KWD deposits. Deposits only take one business day to arrive via bank transfer and are free to make.

Rain’s account-opening process is speedy, as users can be verified and ready to trade in as little as three hours. The trading process is also streamlined, as Rain’s dedicated mobile app has a straightforward interface with dedicated portfolio management options. There’s even a ‘Rain Pro’ service, ideal for high-frequency traders.

7. Paybis – Respected UK-Based Exchange Supporting Kuwaiti Clients

Rounding off this list of the best crypto exchanges in Kuwait is Paybis. Paybis is a UK-based crypto exchange yet offers full support for Kuwaiti clients. The platform provides over 30 cryptocurrencies to trade, with users also able to invest in 47 FIAT currencies if they wish.

Although Paybis isn’t directly regulated in Kuwait, the platform is registered with FinCEN, adding a great deal of credibility. In terms of fees, Paybis allows all users to have one free card purchase, with any follow-up purchases costing 2.49%. Paybis also allows bank transfer transactions, although these are only accepted in GBP and EUR and come with a fee attached.

Paybis is a non-custodial exchange, meaning that the platform does not have access to the user’s private keys – considerably boosting safety. The web-based trading portal features real-time charts in a clear and easy-to-navigate interface. Although Paybis doesn’t offer a mobile app, it does offer a free Bitcoin wallet for those who do not have one set up.

The Best Kuwait Crypto Exchanges Compared

The best Kuwait crypto exchanges listed above provide a hassle-free way to make crypto investments online. However, not all platforms are created equal, as each has its own fee structure, asset selection, and deposit thresholds.

To ensure the decision-making process is as easy as possible, the table below compares all of these features for the best cryptocurrency exchanges in Kuwait, allowing for easy comparison between platforms:

How to Choose the Best Kuwait Cryptocurrency Exchange for You

All of Kuwait’s biggest exchanges offer a quick and easy way to make cryptocurrency investments online. However, they differ in many ways, making the decision-making process challenging. Presented below are some of the main factors to keep in mind when choosing a crypto exchange:

Regulation

Arguably the most crucial element to keep in mind is regulation. Although there are no Kuwait-based exchanges which offer direct regulation within the country, there are numerous exchanges based outside of Kuwait which accept Kuwaiti clients. Many of these exchanges (such as eToro) are regulated by leading bodies like the FCA, ASIC, CySEC, FinCEN, and FINRA. Traders who partner with these exchanges are less likely to fall victim to scams or cyberattacks.

Tradable Cryptos 

Most exchanges will offer a wide variety of cryptocurrencies to trade. For example, our pick for the best crypto exchange in Kuwait, eToro, enables users to trade over 70 different coins. In addition, many platforms will offer altcoins, DeFi tokens, and crypto-to-crypto trading pairs, which can significantly boost potential investment opportunities.

Sign-Up Offers

Certain crypto exchanges will provide sign-up offers to entice new clients to join. An example of this is Crypto.com’s offer to waive card fees for each user’s first 30 days of trading.

Fees

Fees are crucial to consider, as even the best crypto exchange in Kuwait will charge some form of fee. These fees tend to come in one or two approaches:

• Commissions
• Spreads

Commissions are a flat-fee charged whenever a buy or sell order is placed, whereas the spread is the difference between the ‘bid’ and ‘ask’ prices on an asset. Some exchanges may also charge non-trading fees, such as deposit or inactivity fees.

Tools & Features

Trading tools are also beneficial, as they can help optimize and streamline the investment process. Most exchanges will offer real-time price charts and a selection of technical indicators, whilst more advanced platforms (e.g. Coinbase Pro) will provide order-book data and market depth info. One of the best tools offered is the CopyTrader feature from eToro, which allows users to automatically copy the trades placed by other eToro users – with no added fees.

Payment Methods

Some popular exchanges, such as eToro, make it easy for Kuwaiti traders to fund their accounts via credit/debit card or e-wallet – with PayPal, Neteller, and Skrill supported. For traders looking to speed up the investment process, exchanges like Crypto.com and Coinbase allow users to instantly purchase crypto using a credit/debit card – although this tends to come with a high transaction fee attached.

Customer Service

Finally, choosing an exchange with a dedicated customer service team can make all the difference over the longer term. The best Kuwaiti exchanges will have either a ‘Live Chat’ feature or an extensive help centre with answers to regularly asked questions. However, most platforms will have an FAQ element on their website, which can provide simple solutions to common problems.

How to Use a Kuwaiti Crypto Exchange

Now that we’ve reviewed some of Kuwait’s top crypto exchanges and discussed how to choose between them, let’s focus on the investment process. The steps below highlight how to make a crypto investment online with eToro – our pick for the best Bitcoin exchange in Kuwait.

Step 1 – Create an eToro Account

Navigate to eToro’s homepage and create a free account. You’ll then be asked to provide a valid email address before choosing a username and a password, which will be used as your login credentials.

Step 2 – Verify Account

To verify your eToro account, click ‘Complete Profile’ on your account dashboard and enter the personal details required for the platform’s KYC checks. Following this, eToro will ask you to upload proof of ID (e.g. passport) and proof of address (e.g. bank statement). Once uploaded, eToro will verify the documents and email you once complete.

Step 3 – Make a Deposit

Click ‘Deposit’ on your account dashboard and choose which payment method you’d like to use. eToro currently accepts credit/debit cards, bank transfers, PayPal, Skrill, and Neteller for Kuwait-based clients. As noted earlier in this guide, the minimum investment amount for traders based in Kuwait is $1000 (306 KWD) – with a 0.5% conversion charge applied to exchange the KWD into USD.

Step 4 – Search for Crypto

Once your account is funded, click into the search bar at the top of the screen and type the name of the cryptocurrency you’d like to trade. When the crypto appears in the drop-down menu, click ‘Trade’.

Step 5 – Buy Crypto

An order box will then appear, much like the one below. In this box, enter your desired investment amount – eToro requires a minimum investment of $10, which equates to 3.06 KWD at the time of writing. Finally, check everything is correct and then click ‘Place Trade’.

Are Crypto Exchanges Legal in Kuwait?

Before rounding off this guide on the best Kuwait crypto exchanges, it’s important to touch on the legality of these platforms within the country. Back in 2017, the Central Bank of Kuwait sanctioned a ban on commercial banks and other authorities from processing transactions made in BTC. This ban is still in place at the time of writing and doesn’t appear likely to change soon.

For Kuwait-based traders, this means that it won’t be possible to use a cryptocurrency exchange based in Kuwait to make crypto trades. Furthermore, it also means that no crypto exchanges are currently regulated by the Kuwaiti government – meaning that traders who wish to invest in crypto must use an exchange that is based outside of the country.

Fortunately, many Bitcoin exchanges worldwide now accept Kuwaiti traders – including eToro, Crypto.com, Coinbase, and Binance. It is entirely legal to trade on these platforms if you are Kuwait-based, although the government does have a ‘Be Aware’ campaign which highlights the risks associated with the asset class. Finally, rules and regulations can change regularly, so keep an eye out for any alterations that may come into effect.

Best Crypto Exchange in Kuwait – Conclusion

This article has discussed the best crypto exchange in Kuwait, highlighting the most popular options for Kuwaiti traders and presenting an in-depth walkthrough of the investment process.

Our pick for the best Kuwait crypto exchange is eToro, as this platform boasts over 27 million registered users and is regulated by some of the world’s leading regulatory bodies. In addition, eToro has a transparent fee structure of 1% per trade (plus the spread) and offers a free crypto wallet for all users.

Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.

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