Top 6 Crypto Exchanges Based in UAE
The UAE government is taking many measures to promote cryptocurrency and blockchain technology. Furthermore, it is also creating a regulatory environment for crypto exchanges to facilitate growth in the digital economy. The most important regulators for the market are the Dubai Financial Services Authority (DFSA) and the Securities and Commodities Authority (SCA). The crypto exchanges have expanded in many places in the country. This is the reason the country has many crypto exchanges. Explore the following list of the top crypto exchanges based in the UAE.
Top 6 Crypto Exchanges in UAE
1. YaCrypto
YaCrypto is the best crypto exchange trading platform in the UAE. It supports all major cryptocurrencies such as Bitcoin and Ethereum. It also offers several trading options such as Copy trading, social trading, and OTC for both experienced traders and starters. The crypto exchange trading platform is safe and secure. It offers the easiest way to exchange money at very low prices.
The platform also is famous for fast transactions where traders can get real-time updates.
The safety and security systems are multilayered. It has whitelist controls and cold storage for most funds.
The crypto exchange also has a mobile app version on both iOS and Android platforms.
24/7 customer care is available for users from amiable service representatives.
The design is user-friendly. Buying, transferring, and trading are very easy in this crypto exchange.
YaCrypto has 10 offices worldwide, offers 40,000 trades per day, and has 1 million clients in 50 countries.
2. eToro
eToro is another famous crypto exchange platform. Both new as well as experienced professionals can use the platform for trading. The platform is famous for specializing in many kinds of assets such as Bitcoin, Cardano, Ethereum, and many others.
The platform provides accurate market information and has some good custom risk management tools.
The Financial Conduct Authority (FCA), CySec, and ASIC have issued licenses for this crypto exchange. The two tools are Take Profit and Stop Loss settings.
The crypto exchange supports over 70 cryptocurrencies and nearly 3000 stocks. It also supports commodities, ETFs, and many more. eToro supports debit and credit cards along with local bank transfers.
3. OKX
OKX recently has earned a good reputation in the country. Apart from basic trading, the platform has many margins, options trading, and spot. The uniqueness of OKX is that it has a marketplace that manages NFT and DEFI portfolios.
The crypto exchange also attracts many users because of its low costs, swift transactions, and APIs.
The platform accepts many currencies and methods. It also does not charge any deposit or withdrawal fees. There are different AED deposit options such as FasterPay, debit and credit cards, Skrill, etc.
4. Uphold
In UAE, investors who mainly look for better transparency and more security seek Uphold. This is because the crypto exchange platform offers many attractive features such as a dedicated crypto card. Users can use these cards in different ways. Moreover, they can also schedule regular transactions and have some limits on the orders. For this, there is no need to lock up funds.
On the crypto exchange platform Uphold, only withdrawals and deposits are free. However, different trading fees can range from 0.8% to 1.2%. Similarly, card deposits only have a 2.49% fee.
The platform supports over 250 unique and mainstream tokens. Google Pay, debit cards, credit cards, and Apple Pay can be used.
5. Bybit
Bybit recently obtained a license from the Abu Dhabi Global Market (ADGM). The platform is one of the best contenders in the crypto trading arena because it has a strong infrastructure. The platform supports over 10 million users spanning across 180 countries.
It supports diverse trading options for its users. The most distinct feature of Bybit is that it allows up to 100x leverage in NFT markets.
However, the platform charges 0.1% for spot trading. It also has taker and maker rebates. The big plus point is the platform supports over 770 types of cryptos. It supports Google Pay, Credit Cards, Debit Cards, and Bank Transfers as the main AED deposit methods.
6. Binance
Binance offers a good platform for both serious and casual traders. Binance offers OTC, SPOT, Derivatives, Futures, copy trading, and various other trading options. Binance is one of the top OTC crypto exchanges in the world. The interface is purposely designed for easier use. The platform provides a vast range of cryptocurrencies like Ethereum, Bitcoin, Binance coin, and new tokens.
The most distinctive feature of Binance is that it has diverse trading tools like Future and Margin trading. Both novices and expert traders can use these tools without any hassle. The platform also offers good real-time market analytics.
Furthermore, Binance provides high-level risk management settings such as OCO and Stop Loss. Binance also offers some options through its staking and savings program for investors who want to earn passive income.
Binance supports over 350 cryptocurrencies. The trading fees start from 0.1%. In the UAE, Binance is trying to negotiate for better regulations.
Bottom line
The positive attitude of the UAE government is helping many crypto exchanges to prosper in the country. The trading landscape in the country is well-regulated and secured. The reason why YaCrypto, Bybit, Binance, OKX, and eToro are top crypto exchanges in UAE is because of public trust. Other factors such as compliance, asset diversity, payment options, and user experience play a major role in popularizing crypto exchanges.
