Best Crypto Exchange in Oman 2023

Oman is one of the most vibrant countries in the Middle East. With an estimated population of 5 million people, this prosperous nation is also quickly becoming a major crypto hub. As the interest in crypto ramps up, finding the best crypto exchange in Oman for residents looking to get their hands on cryptocurrencies is necessary.

This article explores the best crypto exchanges in Oman. We also provide a walkthrough on how to sign up on a reputable low-fee exchange to buy cryptocurrencies today.

The Top Bitcoin Exchanges in Oman Reviewed

Now, let’s take a closer look at the best cryptocurrency exchanges in Oman to see what they have to offer:

1. eToro: Overall Best Cryptocurrency Exchange in Oman

Our top choice for the best crypto exchange in Oman is eToro, a multi-asset broker that has become especially popular among crypto enthusiasts.

The crypto exchange operates under the oversight of the Qatar Financial Markets Authority (QFMA). We selected eToro as the best Oman crypto exchange for several reasons – especially its ease of use. The social trading cryptocurrency platform is especially easy to set up and use for traders.

Liquidity is another benefit attached to eToro. The best cryptocurrency exchange in Oman currently supports 70+ cryptocurrencies. Traders can buy Bitcoin, XRP, and Solana and trade any of the best meme coins with ease. The platform has a sprawling range of payment methods available to investors. Users can buy crypto with PayPal, bank wire and debit cards.

However, note that eToro’s minimum balance starts at $50 and $200 (19.25 Omani rials and 77 Omani rials, respectively).

For trades, eToro charges a flat 1% rate. The fee is factored into the trade, so investors don’t have to worry about being charged more than anticipated – another benefit eToro has over several other Bitcoin exchanges.

We also love eToro’s CopyTrader function. With this feature, each investor can browse the top traders on eToro and directly copy their trades. This way, when the top traders make profitable moves, it’s easy to mirror them and profit as well.

The CopyPortfolio feature also allows users to diversify their portfolios across some of the best-performing asset classes and industries available on eToro. The CopyPortfolio feature works automatically, providing exposure to the top asset classes at any given time.

With eToro’s use of two-factor authentication (2FA), cold wallet storage, and monitoring tools, the exchange can protect users’ funds.

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

2. Crypto.com: Best Crypto Exchange with Huge Selection of Assets

When looking for the best crypto exchange in Oman, one of the biggest considerations for most investors is the abundance of passive income opportunities. This is where Crypto.com thrives as one of the biggest crypto exchanges in the globe.

Based in Singapore, Crypto.com has been operating since 2016. The Crypto.com exchange operates in over 50 countries, with oversight from multiple top-tier financial watchdogs.

Crypto.com is one of the best trading platforms available and it’s affordable too.

The broker charges fees based on customer tiers. Level One customers are charged 0.4% on trades, while Level Two users pay 0.35%. Traders can also obtain a 10% discount by paying the fees with the exchange’s native CRO token.

Besides its low fees, Crypto.com also thrives in other areas. Support for over 250 coins makes this exchange highly liquid, and it is quite easy for beginners to use as well.

Investors who want to buy cryptocurrency on Crypto.com can do so with direct crypto deposits or ACH transfers. However the minimum balance is $20, and the exchange does not charge for deposits (7.70 Omani rials).

Passive traders can take advantage of Crypto.com’s staking service, which offers annual yields of up to 14.5%. Users can also sign up for the Crypto.com debit card to receive up to 8% cashback and other benefits when they spend their coins.

As one of the best crypto exchanges in Oman, Crypto.com prioritises security. The exchange keeps user funds safe thanks to features like multi-factor authentication (MFA) and whitelisting. The Bitcoin exchange also stores 98% of customer deposits in cold wallets, away from hackers’ reach.

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

3. Coinbase: Best Omani Exchange for Beginners

Coinbase, one of the world’s largest crypto exchanges, also works for investors in Oman. The exchange coasts off its user-friendly platform and seamless trading process, offering an impressive experience for beginners.

Based in San Francisco, Coinbase is a registered and regulated broker. It is outstanding among the best Oman crypto exchanges for its ease of use. The Bitcoin exchange offers a well laid-out platform, which works well for beginners, and a minimum balance of 0.77 Omani rials. Support for over 10,000 assets provides a multitude of options for day trading cryptocurrencies with low risk

Users can buy Solana and any other crypto of choice on Coinbase using various methods. These options ranges from direct transfers to cards, bank transfers, and payment processors. These methods carry fees – except for direct crypto transfers, which only attract network fees.

Trading fees on Coinbase vary between 0.5% and 4.5%. Investors who are not active traders can use Coinbase’s Earn program or stablecoin staking service to earn up to 5% in annual interest yields.

As for security, Coinbase protects customer funds using procedures like MFA and cold storage. The exchange also provides a comprehensive insurance policy to protect assets held online.

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

4. Binance: The Crypto Market’s Global Leader

Given its position in the market, it’s easy to see why many may consider Binance to be the best Bitcoin exchange in Oman.

Launched in 2017, Binance is currently the world’s largest crypto exchange by trading volume hence why it makes our roundup of the best Oman crypto exchanges. It operates in over 100 countries, holding a license from Dubai’s Virtual Asset Regulatory Authority (VARA) and other top-tier global agencies.

As one of the market’s leaders, liquidity is no issue for Binance. The exchange supports over 600 coins and trading pairs, making it a great option for investors. Binance’s minimum balance of 0.39 Omani rials indicates that it allows investors to begin their crypto journey with very little capital.

Investors can buy crypto on Binance using bank transfers, cards, payment processors, and e-wallets. The Bitcoin exchange’s trading fees stand at 0.1%, although traders can get a 25% discount by paying with Binance Coin (BNB).

Security on Binance is also top-notch, with the broker implementing 2FA, cold storage, and behavioural analytics to protect customer funds.

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

5. BitOasis: Local Middle Eastern Registered Exchange

Based in Qatar, BitOasis operates with a license from the Financial Services Regulatory Authority (FSRA). On its website, BitOasis claims that it is in the process of becoming an FSRA-licensed virtual asset multilateral trading facility (MTF).

Currently, BitOasis supports over 40 cryptocurrencies on its platform. The Bitcoin exchange is liquid, and investors can make asset deposits and process withdrawals using e-wallet payment processors, direct crypto transfers, or card payments. Payment processor and card transaction fees vary based on the investor’s chosen channel.

BitOasis is also popular for offering zero-commission trades making it one of the best Oman crypto exchanges for low commission trades. With both a basic exchange and a professional trading service, active and passive investors have enough facilities to choose from.

Security on BitOasis is ensured through the use of 2FA and location-based monitoring. The broker also offers a multi-signature wallet for interested investors.

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

6. Rain: Top Oman Bitcoin Exchange for Zero Fees

Rain is one of the top crypto exchanges in Oman. The platform offers access to over 50 digital assets, allowing users to trade seamlessly.

The best thing about the platform is its fee structure. Rain charges 0% for trades as well as local deposits and withdrawals. Also, the exchange charges a dynamic sending fee for Bitcoin and Ethereum transactions due to the network fees the blockchains command.

Rain is highly intuitive and user-friendly, and users can easily navigate the Bitcoin exchange. The platform does not state a minimum deposit for users to get started. However, it offers a Pro trading platform for institutional users making it one of the best Oman crypto exchanges for user diversity.

Rain users gain access to 2FA and address whitelisting. The Central Bank of Oman regulates the platform as a Category 3 crypto asset service provider (CASP). Supported payment methods include bank wire transfers, credit/debit cards, and e-wallet solutions.

7. Paybis: Top Crypto Exchange with Fiat Support

Rounding up our best crypto exchange in Oman list is Paybis. The platform is based in the United Kingdom but has since expanded its operations to over 180 countries. Paybis features over 400 digital assets, including Bitcoin, Ethereum, and Cardano.

To enable direct crypto purchases, Paybis allows users to fund their accounts with 47+ international currencies. This cuts through the exchange costs and allows users to get more value for their money. Paybis supports bank wire transfers, credit/debit cards, and e-wallet solutions like Neteller.

Minimum investments are divided into packages. The least amount starts at $1,000. Fees are not explicitly stated. The platform only promises a first commission-free purchase for Bitcoin with a credit card. But the platform is user-friendly and intuitive, as new users can easily find their way around the exchange.

Paybis is regulated by the Financial Crimes Enforcement Network (FinCEN) and the Financial Conduct Authority (FCA).

The Best Oman Crypto Exchanges Compared

Below, you can find a recap of the best cryptocurrency exchanges in Oman and how they compare based on several key metrics.

How to Choose the Best Oman Cryptocurrency Exchange for You

Choosing the best crypto exchange in Oman is not an easy task. However, using some critical determinants will help an investor select an exchange that suits their preference. Here are a few determinants:

1. Regulation

Regulation is the number one factor to consider before selecting any Oman Bitcoin exchange. A regulated entity follows official laid-down rules and has a recognised way of doing business. Regulation is a key part of investor protection. The more regulatory licenses a Bitcoin exchange has the better-protected investor funds and personal details. The best Oman crypto exchanges are usually regulated.

2. Tradable Cryptos

The crypto market has on record over 19,700 digital assets. While only a number of them are top-performing, new alternative currencies (altcoins) are making waves. An example is the Dogecoin killer, Shiba Inu, which surged 21,000% when it hit mainstream consciousness. A crypto exchange with a large library of digital assets will better empower users to tap into profitable opportunities. This inevitably gives more options and makes it easier for users to diversify their portfolios.

3. Sign up Offers

Although not a critical requirement, users should also look out for sign up or bonus offers. To attract new users, several crypto exchanges have juicy deals. Although meant for a limited time, this bonus can further increase an investor’s potential profit in a trade.

4. Fees

Fees are the bane of several investors and a principal requirement in selecting the best Bitcoin exchange in Oman. Only use a platform that offers low or reasonable fees. Also, look out for hidden charges, like account maintenance or overnight fees. These surreptitious mechanisms can nip an investor’s profits in the bud in the long run. Our recommended crypto exchange eToro offers low trading fees. The platform doesn’t charge any account maintenance or overnight fees.

5. Tools & Features

Aside from the fees, another thing to look out for is the unique features a platform is prominent for. These unique features are usually their selling point, and every Bitcoin exchange has one. Our top pick, eToro, allows new and inexperienced investors to remain profitable and mitigate risks on their trades using its CopyTrader tool. Also, its CopyPortfolio automatically positions users to make the most profits from their investments as it places its assets in the most profitable industries and regions.

6. Payment Methods

A platform with multiple payment methods offers fluidity. Some of the best crypto exchanges in Oman offer a mixture of both traditional and decentralized payment solutions. Users can easily make payments using a bank wire transfer for volume deposits or withdrawals, credit/debit cards, PayPal, and Skrill. This offering provides options and allows users to choose the best low-cost method to deposit or withdraw their earnings.

7. Customer Service

The crypto space is seeing exponential growth in investment inflow and the rollout of services. However, the crypto industry still lags in customer support service. Several mainstream investors are still uncertain about how cryptocurrencies work, and the lack of a good customer support service has deterred many. For investors looking to come into the crypto space, we recommend using a proven Bitcoin exchange in Oman with a strong customer service track record like eToro.

How to Use an Omani Crypto Exchange

For investors ready to buy crypto, we will illustrate step-by-step how to get started on an Omani crypto exchange. Our platform of choice is social trading giant eToro. The platform’s strong community sense and powerful tools geared towards helping traders maximise their capital have seen it rise above the competition.

Here is how to buy crypto assets on eToro:

1. Sign up on eToro

Visit the official website of the eToro platform and create a free account. Once completed, eToro will redirect the user to a registration page, as seen above.

The user will be required to input their email address, password, full name, and mobile number. eToro also allows investors to cut through these form-filling processes by connecting their Facebook, Google, or Apple account to create a new account.

2. Verify ID

eToro is a heavily regulated crypto broker. It has licenses from some of the best global financial watchdogs. As a result, all new users are required to complete the know-your-customer (KYC) to access the full features of the broker. The process is also seamless.

First off, upload a clear copy of driver’s license or official passport and a utility bill or financial statement for proof of residence. Once these documents are uploaded, the eToro team will verify them within minutes.

3. Deposit

Next, users are to fund their accounts. eToro offers multiple payment methods. To fund the account, click on the action tab and locate the ‘Deposit Funds’ button. Click on this button to access the deposit page, as seen in this image. Then, select a payment method and insert how much to fund the account with.

Click on ‘Deposit’ to complete the process.

4. Buy Crypto

Once the deposit is complete, users can now proceed to invest in their digital asset of choice. eToro offers two options. The first is to click on the action tab and tap on the ‘Discover’ button. Then select ‘Crypto’ from its slew of investment services to gain a full scope of assets to select from.

A faster way is to directly type in the ticker symbol of the crypto asset the investor wants to buy. If the investor intends to invest in BTC, they can type ‘BTC’ into the search bar and click on the first popup result. The next step is to click on the ‘Trade’ button to open up the order page. From there, input the desired amount of BTC to be purchased and click on ‘Open Trade’ to complete the transaction.

Are Crypto Exchanges Legal in Oman?

Yes, Bitcoin exchanges are legal entities. They are considered virtual asset service providers (VASPs) and operate as such. In Oman, crypto exchanges and mining firms are viewed as service providers and treated accordingly. Although cryptocurrencies are not regulated in the Middle Eastern nations, blockchain-based activities are considered legal activities.

The Omani government is currently considering regulation of the emerging industry, and currently it is legal to buy Bitcoin in Oman.

Conclusion

Crypto adoption is rising globally. While several platforms allow investors to buy Bitcoin in Oman, our top pick remains eToro.

The social trading platform has a rich history of providing top-notch financial investment services. eToro is a social trading platform allowing investors to communicate and learn from one another. The Bitcoin exchange offers its peculiar CopyTrader functionality, which allows users to mirror the trades of more advanced traders and enjoy low trading fees.

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

FAQs on Buying Bitcoin in Oman