The Israeli Insurance and Savings Capital Market Authority (ISCMA) started regulating the cryptocurrency scene in 2016. This government body offers licences to approved cryptocurrency exchanges in the country.
So, it’s safe to purchase cryptocurrency from exchanges in Israel. For the best experience, however, you’ll need to visit the best crypto exchanges in Israel. Here, you’ll discover the best exchanges in Israel, their products, security features, payment methods, and other essential bits of information regarding them. All crypto exchanges presented in this article comply with local laws such as AML laws and KYC requirements.
Top Crypto Exchanges in Israel Reviewed
To find the best crypto exchanges for traders in Israel, we’ve analyzed hundreds of cryptocurrency platforms. Below, you’ll discover the five best crypto exchanges in Israel.
- Bitget – Best overall crypto exchange in Israel
- Binance – Best exchange for professional traders
- Bitsofgold – Best local crypto exchange in Israel
- Kraken – Oldest crypto exchange in Israel
- OKX – Best derivatives exchange in Israel
1. Bitget
Bitget is an exchange that offers more than 550 cryptocurrencies and averages $4 billion in daily trading volume. This crypto exchange is an all-rounder that’s suitable for both beginners and advanced traders with its easy-to-use UI and advanced features.
If you’re interested in copy trading, Bitget is one of the best options that you’ll see. Bitget offers its services to more than 100,000 elite traders with futures, spot, and bot copy trading capabilities.
Crypto traders can buy a wide variety of cryptocurrencies on this platform, along with spot, futures, and margin. More than 20,000 DApps are also available on this exchange, along with popular NFTs.
Security is another strong point of Bitget, as it offers proof of reserves and cold storage for all customer funds. There’s also a 300 million USDT protection fund that forms another layer of protection for traders on this exchange.
You can purchase cryptocurrency on Bitget using Israeli Shekels (ILS). The deposit options on Bitget include P2P trading, Visa, Apple Pay, Mastercard, Union Pay, and third-party methods like Xanpool, Mercuryo, and Banxa.
Withdrawal fees on Bitget aren’t fixed but depend on the cryptocurrency you want to withdraw. Crypto deposits, however, are free. All of these factors, along with its iconic beginner-friendly UI, make Bitget the best crypto exchange in Israel.
If you want to learn more about the platform, you can read our full Bitget review.
Supported Cryptos: Over 550+ cryptocurrencies
Futures Contracts: 350+ Futures contracts
Max. Leverage: 125x
Spot Trading Fees: 0.1% maker / 0.1% taker
Futures Trading Fees: 0.02% maker / 0.06% taker
Deposits & Withdrawals: ILS Deposits and withdrawals through Mastercard/Visa bank cards, Union Pay, P2P trading, Xanpool, Mercuryo, and Banxa
Licensed & Regulated: The ISCMA regulates this crypto exchange
2. Binance
Binance takes a spot as another popular cryptocurrency exchange in Israel, with a daily average trading volume of $23 billion. Binance was launched in 2017 and possesses a wide variety of crypto products, along with 350+ digital coins. This platform is your best choice when you’re looking for variety, as it offers a little of everything, from crypto trading to loans.
Binance offers a full crypto trading market, giving you the option to choose from margins, futures, and spots. Trading bots are also available for traders who want to automate their trades.
Passive income-earning opportunities are available through the staking feature. Additionally, Binance features an NFT market for investors who want to purchase the most popular projects. Crypto loans are also available, along with a learning hub for newcomers to cryptocurrency trading.
Traders in Israel can purchase cryptocurrency using ILS on Binance. They can use Visa, Mastercard, Apple Pay, or Google Pay to purchase any coin. Crypto deposits on Binance are free; however, withdrawals come with fees, depending on the cryptocurrency you want to withdraw.
If you want to learn more about the platform, you can read our full Binance review.
Supported Cryptos: Over 350+ cryptocurrencies
Futures Contracts: 50+ Futures contracts
Max. Leverage: 125x
Spot Trading Fees: 0.1% maker / 0.1% taker
Futures Trading Fees: 0.02% maker / 0.04% taker
Deposits & Withdrawals: ILS deposits and withdrawals via Visa, Mastercard, Google Pay, and Apple Pay
Licensed & Regulated: The ISCMA regulates this platform
3. Bitsofgold
Bitsofgold is a cryptocurrency broker that was established in Israel in 2013. The exchange is the first to receive a permanent financial services provider license in Israel. This regulatory license and overall acceptance in Israel, make it the best local crypto exchange.
Bitsofgold is focused mainly on buying and selling cryptocurrency (only Ethereum and Bitcoin). So, the user interface of this exchange is straightforward for anyone who is getting into the cryptocurrency industry.
This platform offers a cold storage wallet that is 100% insured and direct debit services for traders who want to slowly accumulate cryptocurrency. Traders can also get a Bitsofgold credit card and enjoy Bitcoin cashbacks whenever they make purchases.
Bitsofgold allows traders in Israel to purchase cryptocurrency using ILS through credit cards, bank transfers, and cash (BitATM). Deposit and withdrawal fees on Bitsofgold range from 1.20% to 1.95%, depending on the cryptocurrency in question.
Supported Cryptos: 2
Futures Contracts: No futures
Max. Leverage: None
Spot Trading Fees: 1.95% maker / 1.95% taker
Futures Trading Fees: No futures
Deposits & Withdrawals: ILS deposits and withdrawals via bank transfers, credit cards, and cash (BitATM)
Licensed & Regulated: Regulated by ISCMA with a Financial Services Provider license
4. Kraken
Kraken is a crypto exchange that was established shortly after Bitcoin gained popularity in 2011. In terms of age, Kraken is one of the oldest exchanges that you’ll find. This also gives it an advantage, as it averages $12 million in daily trading volume. Kraken earned its place as one of Israel’s best crypto exchanges due to its numerous products, like futures, spots, an NFT marketplace, and staking opportunities.
Kraken allows you to purchase and trade cryptocurrency and NFTs. This platform has deep liquidity in various markets and offers low spreads and high rate limits. These features make it perfect for trading margins, futures, and spots.
You can earn passively with Kraken when you stake your cryptocurrency. Beginners will also enjoy Kraken, as there are numerous educational materials available on this exchange for amateur traders. This doesn’t mean that professional traders cannot use this platform, though, as Kraken has a pro version for that purpose.
Kraken doesn’t allow purchases in ILS, so you’ll have to convert your funds to a popular currency like USD. Deposits and withdrawals on this exchange can be free or incur transaction fees, depending on the currency you choose to use.
If you want to learn more about the exchange, you can read our full Kraken review.
Supported Cryptos: Over 200+ cryptocurrencies
Futures Contracts: 110+ Futures contracts
Max. Leverage: 50x
Spot Trading Fees: 0.16% maker / 0.26% taker
Futures Trading Fees: 0.02% maker / 0.05% taker
Deposits & Withdrawals: Deposits and withdrawals through bank cards and digital wallets
Licensed & Regulated: Regulated by ISCMA
5. OKX
OKX has been in the cryptocurrency scene since 2017. It’s now one of the biggest derivatives exchanges in Israel, with 340+ cryptocurrencies and a 24-hour trading volume of $8.9 billion on average. This platform is known for its high leverage and liquidity, making it perfect for derivative traders.
OKX is one of the best exchanges for derivative traders, as it allows them to trade futures, margins, perpetual swaps, and options. On this exchange, you can choose to trade with a bot or build your own. Copy trading is another option that OKX offers for traders who want to get an edge in trading.
You can purchase the latest NFTs on this platform, with easy guides to show you the way. OKX also provides an opportunity to discover the latest blockchain gaming DApps and earn passively from staking numerous cryptocurrencies. There are also educational materials on this crypto exchange that’ll allow amateur traders to learn and grow.
Traders in Israel can purchase cryptocurrency using ILS through payment methods like Apple Pay, Mastercard, bank transfers, and Visa. You don’t pay for deposits on OKX. However, there are withdrawal fees, and the amount you pay depends on the cryptocurrency in question.
If you want to learn more about the platform, you can read our full OKX review.
Supported Cryptos: 340+
Futures Contracts: 220+
Max. Leverage: 100x
Spot Trading Fees: 0.08% maker / 0.1% taker
Futures Trading Fees: 0.02% maker / 0.05% taker
Deposits & Withdrawals: ILS withdrawals and deposits through Visa, Apple Pay, Mastercard, and bank transfers
Licensed & Regulated: Regulated by ISCMA
Is Crypto Legal in Israel?
Yes, cryptocurrency is legal in Israel, as the government has recognized these digital assets since 2016. In that year, the Israeli Insurance Capital Market Authority (ISCMA) was given the authority to grant licenses to crypto service providers. For now, Bitsofgold is the only crypto exchange to receive this license. However, the other exchanges offer a lot more crypto services in Israel as of now.
While other crypto exchanges can still operate under the regulation of the ISCMA, their permits are temporary. Crypto exchanges were also taxed under the new law in 2016. If you’re unsure of your position regarding cryptocurrency taxes, contact a local tax advisor.
How to buy Crypto in Israel?
The five best exchanges in Israel have been unveiled above; the next thing is to purchase some of your own. This process is straightforward; the guide below will show you how to get cryptocurrencies in Israel.
- Choose a crypto exchange: The first step in purchasing cryptocurrency in Israel is to choose an exchange. There are hundreds of active crypto exchanges in Israel, and we’ve recommended the five best options. So, choose one of the exchanges on the list, like Bitget, Bitsofgold, Binance, or Kraken.
- Register with the exchange: After making a choice, the next step is to open an account with the crypto exchange. This process requires you to provide some basic information and shouldn’t take more than a few minutes.
- Complete the Know Your Customer (KYC) requirements: Crypto exchanges in Israel require that you fulfill KYC requirements at some point. This could be during the first deposit process or before the first withdrawal. The KYC procedure requires you to submit some personal identifying documents.
- Fund your account: Funding an account on a crypto exchange will require you to provide payment details for your payment method. This way, you can transfer funds into your crypto exchange account through bank transfers or debit/credit cards.
- Purchase cryptocurrency: After opening an account with your chosen exchange, you can now purchase whatever cryptocurrency you desire. Of course, the platform has to have the cryptocurrency before you can purchase it. You can purchase the digital coins and leave them in the exchange wallet, or you can transfer them to your personal wallet.
Final Thoughts
Cryptocurrency and, by extension, crypto exchanges are legal in Israel. This country is one of the few that has recognized its presence and formed regulatory bodies to monitor the cryptocurrency scene. The regulatory body for cryptocurrency and all cryptocurrency-related activities in Israel is the Israeli Insurance and Savings Capital Market Authority (ISCMA).
The best overall exchange in Israel is Bitget. Bitget is a platform that welcomes beginners with a simple UI while providing all the advanced features that professionals love.
Other well-known cryptocurrency exchanges in Israel include Bitsofgold, Binance, and Kraken. Bitsofgold is the best local exchange due to its permanent license, while Binance and Kraken are suitable for advanced traders. You can also give OKX a try, as it offers many advanced trading features for margin, spot, and futures traders.
