If you live in Kuwait and wish to trade crypto, you’ll need a good exchange. This is because the crypto exchange you use in Kuwait will determine how enjoyable your trading experience will be. Therefore, to help you make the right decision, we have picked out the best exchanges in Kuwait.
The exchanges we consider best for crypto trading in Kuwait were picked based on certain factors. These factors include how secure the exchange is and how much they charge as fees. We also considered the products and features available on these platforms. Finally, we assess if these exchanges accept the deposition and withdrawal of funds in Kuwaiti dinar (KWD).
The Capital Market Authority (CMA) is responsible for regulating cryptocurrencies and other financial assets in Kuwait.
Best Cryptocurrency Exchanges in Kuwait
We analyzed more than 100 crypto exchanges used by crypto traders in Kuwait. After careful analysis, we were able to pick out six of the best exchanges needed for seamless trading in Kuwait.
- Bitget – Best Cryptocurrency Exchange In Kuwait
- Rain – Best Cryptocurrency Exchanges in the Middle East
- Bybit – Most Advanced Crypto Exchange
- Kraken – Oldest Crypto Exchange
- Kucoin – Most Used Crypto Exchange
- Coinmama – Simplest Crypto Exchange
1. Bitget
Bitget takes the top spot as one of the best crypto exchanges in Kuwait. Bitget was founded in 2018 and has over 20 million users. Furthermore, Bitget ranks number 6 on the CoinMarketCap ranking list of crypto exchanges. Additionally, Bitget has over 500 tradable crypto assets and has a daily trading volume of over $6.3 billion on CoinMarketCap.
As an exchange, Bitget is known for its unique copy trading feature which gives beginners a chance to trade just like professionals. Bitget also includes a leaderboard option that allows you to see top traders you can copy. In addition, Bitget has a clean and friendly interface. Also, it offers exciting features such as an AI trading bot. In addition to that, it provides options for earning passive income, which includes saving, staking, and crypto loans.
The registration and verification process on Bitget is simple, and it offers low transaction fees. Additionally, Bitget supports spot and feature trading with up to 100x leverage.
It is easy to buy cryptocurrency on Bitget in Kuwait. Users can purchase cryptocurrencies using either a credit card or a debit card. Alternatively, you may decide to buy crypto using the peer-to-peer transaction.This deposit method incurs no fee.
You could get crypto using a third-party service provider such as Mercury, Banxa, and Xanpool. Withdrawing fiat currency from Bitget in Kuwait will require that you use the peer-to-peer transaction.
If you want to learn more about the platform, you can read our full Bitget review.
Supported Cryptos: Over 500+ cryptocurrencies
Futures Contracts: 250+ 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: EUR € deposits and withdrawals via Bank Transfer
Licensed & Regulated: Regulated by FSA, CySEC, and FinCEN with MSB license.
2. Rain
Rain is a suitable exchange for people living in Kuwait. This is because the platform is designed to specifically cater to people from the Middle East and North Africa. The platform was founded in 2017 and currently has over 200,000 users from the region. Rain is located in Bahrain. Hence, the exchange is regulated and licensed by the Central Bank of Bahrain (CBB).
Currently, Rain has over 70 tradable Crypto assets listed on the platform. Remarkably, trading on Rain incurs zero fees, which makes it a relatively cheap exchange. Additionally, the coins listed are sharia compliant and approved by the Shaiyah Review Bureau (“SRB”).
Rain offers good security and high liquidity. It is beginner-friendly and offers detailed educational content. In addition, Rain is multilingual, with contents available in English, Arabic, and Turkish languages.
Users in Kuwait can easily buy cryptocurrency on Rain. You can make deposits using direct bank transfer. Remarkably, this incurs zero fees; however, there may be bank charges. You can withdraw directly into your Kuwaiti bank account on Rain. Notably, withdrawing KWD will incur a small fee of 5 KWD.
Supported Cryptos: Over 500+ cryptocurrencies
Futures Contracts: 250+ 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: KWD deposits and withdrawals via Bank Transfer
Licensed & Regulated: Regulated by FSA, CySEC, and FinCEN with MSB license.
3. Bybit
Bybit is a crypto exchange platform that offers advanced trading features and is a good choice for those in Kuwait. Remarkably, It was founded in 2018 and is known for having top-notch security. Currently, Bybit has over 15 million users from over 160 countries. Furthermore, Bybit ranks number 3 on CoinMarketCap and has a daily trading volume of over 12 billion dollars.
Currently, Bybit has over 800 listed cryptocurrencies as well as options for spot trading and features trading. Bybit offers copy trading, has an AI trading bot, and even has an NFT marketplace. Also, Bybit offers demo trading accounts to help beginners practice trading.
Additionally, the platform has a peer-to-peer (P2P) trading feature. Remarkably, Bybit offers passive income products, which include savings-style products with high APYs for digital assets. Recently, Bybit introduced a 7-day Fixed Term USDT savings product for new users. This offer comes with an impressive 15% APR.
Bybit allows users in Kuwait to deposit funds in KWD using either a debit card or a credit card. Alternatively, you can decide to purchase crypto using Peer to peer trading platform. Withdrawing funds from Bybit in Kuwait will require using the peer-to-peer trading platform. Depositing or withdrawing funds on Bybit will require a fee of 0.1% or more. However, using a peer-to-peer will cost you no fees.
If you want to learn more about the platform, you can read our full Bybit review.
Supported Cryptos: Over 500+ cryptocurrencies
Futures Contracts: 250+ 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: KWD payments with credit/debit card
Licensed & Regulated: Regulated by FSA, CySEC, and FinCEN with MSB license.
4. Kraken
Kraken is a cryptocurrency exchange based in the United States. It was founded in 2011, thus making it one of the oldest exchanges. Currently, Kraken has over 10 million users from over 190 countries. Kraken ranks number 11 on CoinMarketCap and has a daily trading volume of over 270 million dollars.
Kraken is known for being highly robust and secure. Also, it allows users to trade over 100 crypto assets. Furthermore, users can stake coins and earn passive income. Trading options on Kraken include spot trading, margin trading, and futures trading. Furthermore, the platform has an excellent user interface which is simple to navigate. It also offers users options to use the platform in Arabic language.
For people living in Kuwait, buying crypto on Kraken is simple. You can make card payments using either a Visa or Mastercard. Alternatively, you may purchase crypto using either Apple or Google Pay. Users can withdraw directly into their bank accounts. Fees for deposits and withdrawals are from 0.16% and above.
If you want to learn more about the platform, you can read our full Kraken review.
Supported Cryptos: Over 500+ cryptocurrencies
Futures Contracts: 250+ 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: KWD Payments via credit/debit card
Licensed & Regulated: Regulated by FSA, CySEC, and FinCEN with MSB license.
6. Kucoin
Kucoin is also known as the people exchange. It has over 29 million users worldwide. It ranks at number 4 on CoinMarketCap and has a trading volume of over 1 billion dollars.
Kucoin offers over 700 crypto trading pairs. Furthermore, Kucoin has high security and offers users a trading bot feature for easy trading. Bitget provides content in Arabic. Similarly, users in Kuwait can conveniently communicate with customer care in Arabic. Users can earn passive income by staking coins. Alternatively, they can earn interest by lending their funds to other traders.
Buying crypto on kucoin from Kuwait will require the use of card payments. Alternatively, you can buy cryptos on Kucoin peer-to-peer trading platform. Similarly, users can withdraw fiat currency through the peer-to-peer trading platform.
If you want to learn more about the platform, you can read our full Kucoin review.
Supported Cryptos: Over 500+ cryptocurrencies
Futures Contracts: 250+ 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: KWD Payments via credit/debit card
Licensed & Regulated: Regulated by FSA, CySEC, and FinCEN with MSB license.
7. Coinmama
Coinmama is a crypto exchange remarkable for its simplicity. Coinmama was founded in 2013 and currently has over 3 million users.
Coinmama has a very friendly user interface. The processes on the platform are not complicated, making it the perfect option for beginners. Therefore, this makes it easy for users not to struggle when buying cryptocurrency. Coins purchased on Coinmama are not stored on the platform. However, users are required to produce a crypto wallet where the purchased coins are sent to.
Users in Kuwait can purchase cryptocurrencies using card payment. Coinmama accepts both debit and credit cards. Alternatively, users can buy crypto using direct bank transfers. Deposit fees on Coinmama can be up to 4.99% and additional fees may apply depending on the deposit method.
If you want to learn more about the platform, you can read our full Coinmama review.
Supported Cryptos: Over 500+ cryptocurrencies
Futures Contracts: 250+ 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: Payments via credit/debit card, SEPA, Google/Apple Pay, Skrill, and more
Licensed & Regulated: Regulated by FSA, CySEC, and FinCEN with MSB license.
Is Crypto Trading Legal In Kuwait
Trading cryptocurrencies in Kuwait is illegal. In the past, the Kuwaiti Government simply did not recognize cryptocurrencies as an official form of transaction. However, the Kuwaiti Capital Market Authority (CMA) recently placed a total ban on all crypto-related activities.
The Kuwaiti Government does not tax income from cryptocurrencies. This is because the Kuwaiti Government does not trust virtual currencies. In fact, the ban was in an effort to combat money Laundering and terrorism financing.
How To Buy Cryptocurrency In Kuwait
To become a crypto trader, you’ll first have to own some cryptocurrency. Additionally, owning crypto will require that you purchase it. Therefore, if you are in Kuwait and want to buy crypto, we’ve outlined some important steps.
Search For a Good Exchange: The key to staying profitable in crypto trade is to ” Do your own research.”However, we’ve made it easy for you by presenting the best crypto exchange in Kuwait, which is Bitget. Bitget is user-friendly and offers a lot of fiat deposit options. Also, the platform offers over 500 crypto assets for trading.
Register and Verify: The next step is to register on Bitget. To register, you’ll need a Kuwaiti government-issued ID.
Buy Crypto: To purchase your first crypto, you’ll need to make payment with a debit or credit card. Alternatively, you could make use of direct bank transfers or the peer-to-peer trading platform.
Make Sure Your Assets Are Secured: After purchasing your first crypto, you’ll need to keep it safe. To do this, you’ll need to store your funds in a cold wallet. This is because doing so is safer than keeping them on a platform that may get hacked.
Final Thoughts
The Kuwaiti Government has officially banned cryptocurrencies. However, this should not stop you from pursuing your dream of owning and trading cryptocurrencies. Therefore, you should be careful when trading cryptocurrencies in Kuwait. Notably, Selecting a reliable exchange is the first step in being careful.
The best choice of crypto exchange in Kuwait is Bitget. It is user-friendly and suitable for beginners. Moreover, it has high security and is thus a trusted exchange.
Other alternatives to Bitget include Rain, which is the best cryptocurrency exchange in the Middle East. Secondly, there is Bybit, which is the most advanced crypto exchange available in Kuwait. Thirdly, Kraken, which is the oldest Oldest Crypto Exchange. Fourthly, there is Kucoin, which is used by many people globally. Finally there is Coinmama, which is the simplest crypto exchange in Kuwait.
