The Best 5 Crypto Exchanges in United Arab Emirates (UAE) in 2024

The United Arab Emirates (UAE) has positioned itself as a leading destination for crypto companies in the world.

This is due to the crypto-friendly regulations the country has put in place to support blockchain technology development. Several top global crypto exchanges have therefore found their way there, some moving their headquarters to the country.

If you live in the UAE or for whatever reason wish to find the best crypto exchanges to use in the country, you’ve come to the right place. The following are five of those platforms that are most reliable in the UAE.

Binance 

Binance is a global crypto exchange that for years had no physical headquarters. However, the former CEO Changpeng Zhao (CZ) hinted he was going to build the headquarters in Dubai, the UAE’s top business hub.

Although that has not yet been done, Binance now has a strong presence in Dubai. After obtaining an MVP license last year, the exchange recently secured a full operational license as a virtual asset services provider from the Virtual Asset Regulatory Authority (VARA) in Dubai.

As it is already the most popular exchange in the world, this license further solidifies its position as a top exchange in the UAE. As the regulatory pressure around the world continues to worsen, Binance may eventually actually have its international headquarters in Dubai.

eToro

eToro has established itself as a reliable crypto trading platform in Europe and the world at large. Even in the UAE, the exchange is recognized as one of the leaders in the local crypto industry.

The exchange is registered and regulated by the Abu Dhabi Global Market (“ADGM”)’s Financial Services Regulatory Authority (“FSRA“). This makes the social trading platform a bonafide exchange in the country.

Since it is also a multi asset platform, it isn’t surprising that eToro has set itself apart from many potential competitors in the regions. You can use to to invest in not just crypto assets but also other asset classes such as stocks.

Bybit

Bybit is a global crypto exchange that started in Singapore. After a few years, the exchange moved its global headquarters to Dubai, UAE. Shortly thereafter, the exchange secured an in-principle license from the ADGM, and an MVP license from VARA.

These licenses have established the exchange’s position in the country and also points to a brighter future for it as it is likely to secure a permanent operational license soon. You can use Bybit for derivatives and other forms of crypto trading.

It is largely an advanced platform for those already familiar with crypto trading, so may not be suitable for beginners. There are over 1,000 supported crypto assets, which makes it a great option for those interested in several assets.

Coinbase

Coinbase is one of the first global crypto exchanges to secure a place in the UAE. The exchange established its presence in Dubai early on as the regulatory environment in the U.S didn’t favor many crypto companies.

Although yet to secure any regulatory license, the exchange’s CEP Brian Armstrong last year stated that the exchange was considering Dubai as a potential international hub since the U.S has been quite unfriendly towards crypto.

This would require securing a license, which shouldn’t be difficult as Coinbase executives have already established a good rapport with the authorities in the country.

Kraken

This is a highly reputable crypto exchange with headquarters currently in the U.S. The exchange in 2022 secured a Financial Services Permission (FSP) license from the Abu Dhabi Global Market (ADGM) to operate a regulated exchange platform in the United Arab Emirates (UAE).

This makes it one of the most trusted platforms in the country, which is not surprising. The exchange is one of the oldest in the industry having existed since 2011, but without any history of a security breach. For anyone looking for a super secure crypto exchange, this is one.

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