Buying Bitcoin has become extremely popular in the last few years. With the price of 1 Bitcoin going from $10 to over $19,000 in 2017, it’s understandable why people are so excited about buying this new currency that has the potential to be a legitimate competitor to current currencies such as the dollar or euro. However, there are still many people who don’t know how to invest in Bitcoin or how it works, which makes them hesitate before buying some for themselves. There are several steps you need to follow before you can buy your first Bitcoin, and we will outline them below so you can get started!
Buy Bitcoin in Kuwait, Oman, Bahrain, Qatar, and Saudi Arabia
Step 1: Select the Bitcoin Platform
In order to invest in Bitcoin, you will need a platform where you can buy, sell, and store your bitcoins. It is important to select the right Crypto trading platform before you invest in any crypto coins.
Due to high demand, there are many companies that have hidden charges or do some kind of fraud with their customer.
So, it is important to select a reputed platform to invest in Bitcoin.
We recommend, if you are based in Middle Eastern Countries (i.e UAE, Kuwait Bahrain, Oman, Saudi Arabia, Qatar, etc.) then you should use the BitOasis platform to invest in Bitcoin.
Why you should invest through BitOasis?
BitOasis Technologies in the Middle East & North Africa’s (MENA) largest online cryptocurrency platform. It is located in the Middle East. Their Head Quarters are in UAE. It is the most trusted crypto investment platform in the area.
Advantages of invest Bitcoin through BitOasis
- BitOasis offers best-in-class service and customer support for their MENA region customers. As it is located in GCC and you are also buying Bitcoin from a GCC country, they know all the technical and local laws and regulations very well. They can assist you very well compared to any other western country’s platform.
- The platform is very easy to use and understand. Whether it is their website or mobile app.
- It allows you to invest in all most popular cryptocurrencies including Bitcoin.
- They give a top in class privacy and speed so that you can Bitcoin investment journey doesn’t get stuck anywhere.
- You can make a local bank deposit in your GCC country’s banks with zero fees. Isn’t it great? No western crypto platform does that!!!
- You get free rewards every time you make a deposit and make a purchase. The reward structure is as follows:
- You will receive 150 AED on the first signup.
- Rewards are given by Levels(the amount you spend on the platform)
- They also have ‘Invite and Earn’ rewards.
Step 2: Sign-up to Crypto Platform
If you decided to go with the BitOasis platform then follow the steps to sign up.
- To create a BitOasis account visit here.
- Find the creat account button on the top right corner.
- Enter Details: Name, Email Address, and a new password.
- Verify your email address by entering 12 digit code you received in your email.
- If you did not receive the email then you can request to send it again or you can change your email address.
- After you have successfully confirmed your email address, then enter your phone number by selecting your respective country code.
- Then, confirm your mobile number by entering the OTP that they sent to you.
- That’s it! You are now redirected to BitOasis Dashboard.
Other platforms like Binance also have the same steps to signup. If you have any problems or queries contact customer support of the respective platform and they will assist you.
Step 3: Verify Your Account
Before you start investing you need to verify your account. This is required to keep the platform safe from fraudulent activities.
There are 3 Tiers available while verifying your account. All three tiers have different document requirements to submit. See the below image:
If you are just starting out then Tier 1 should be enough for you. If you want to upgrade in the future then you can upgrade it via customer support, it’s very easy.
- To verify, log in to your account.
- After logging in click on the “Verify Now” button on the top right side of the screen.
- Hover on Tier 1 option and click “Get Verified”.
- After that fill in your country and residence details.
- Then provide passport copy or driving license documents (clear photo or pdf)
- Provide them with a clear selfie of yourself.
- Then select the source of funds (i.e credit card, debit card, or bank transfer) and accept terms and conditions. Then click “Complete Verification”
- After that BitOasis will review your request and will approve it in a few working days.
Some exchanges (NOT BitOasis) may require even more identifying documents, depending on where they operate geographically; Coinbase will only accept clients who live in countries where they have proper licensing agreements set up with authorities.
Step 4: Deposit Money in Your Account
You can deposit money into your account from any GCC-issued bank debit/credit card. All the cards from GCC banks are accepted.
Note: All the transactions on BitOasis are done in AED currency for simplicity purposes.
If you are located in GCC countries: United Arab Emirates, Bahrain, Kuwait, Oman, and Jordan you can do a wire transfer directly from the bank and deposit money in your account.
Deposit Money via Debit/Credit card
- From your Dashboard Go to Accounts —–>>> Payment method
- Enter the amount you want to deposit. (min. 300AED)
- Then click “Proceed with payment”
- Enter your card details and click “Deposit”
- Voila! You have successfully deposited money into your account.
Note: There’s a 3-4% deposit fee.
STEP 5: Buy Bitcoin
You can buy dozens of cryptocurrencies from BitOasis some of which are: BTC (Bitcoin), ETH (Ethereum), XRP (Ripple), USDT (Tether), LTC (Litecoin), XLM (Stellar Lumen), EOS, OMG (OmiseGo), ZRX (0x), BAT (Basic Attention Token), ALGO (Algorand), NEO, XTZ (Tezos), MKR, YFI, BAL, COMP, LINK (ChainLink), and KNC (Kyber) against AED.
BitOasis Core: – Core is a starter product from BitOssis that makes it easy to sell 18+ cryptocurrencies without commission, as well as manage your portfolio through a new dashboard, including new charts, detailed portfolios, and price alerts tools. Included to get the latest information on the market.
BitOasis Pro: – Pro is where more tools come to you as a trader; 34 cryptocurrencies and fiat pairs available in real time with advanced trading charts and order types. The interface has also been completely redesigned to give you a whole new trading experience.
Pro includes 3 different types of trading orders, market orders, limit orders, and limit orders. With highly liquid orders books, order execution will be quick and easy.
For beginners start with BitOasis Core.
To Buy Bitcoin follow the following steps.
- Go to Bitoasis Core Dashboard and Click “Core Buy/Sell”
- Click on the “Select pair” drop-down menu and select BTC-AED.
- Enter the amount you want to invest in Bitcoin and click the “BUY” Button.
- Then click “Go To My Transaction” and confirm your Buy Order.
- You have now successfully made the transaction and now you own a Bitcoin.
Is Bitcoin Legal in Kuwait?
Cryptocurrencies are not used commercially in Kuwait. Kuwait law does not allow anyone to buy goods in exchange for cryptocurrencies but you can trade Bitcoin for buying and selling cryptocurrencies in exchange for Kuwaiti Dinars. Read more here.
A lot of people do Bitcoin mining and buy Bitcoin from trusted platforms and make a lot of profit in return.
You too can make HUGE profits from Bitcoin if you follow the right track and guidance. Visit here to learn more.
Bitcoin Price Kuwait, Oman, Qatar, and Bahrain
Is Bitcoin Halal?
In 2018, researchers from the Office of Shariah Research in Bahrain stated that investing in digital currencies and coins such as Bitcoin is legal under Shariah. Their point of view was that bitcoin could be considered an asset (maal) and had no interest.