Want to buy Bitcoin in Egypt? Bitcoin is on the radar of forward-thinking investors right now. The BTC price has recently crept under the $30,000 mark. And some investors have noticed that the last time BTC was this cheap — back in July 2021 — it went on to double in value within four months. Will Bitcoin soar again? Below we do our best to find out.
With crypto trading under pressure in Egypt, the key question investors face is: where to buy Bitcoin in Egypt? Below we review six relevant top platforms. We look at what we can expect from each vendor in the way of fees, regulation, security and ease of use. Let’s see how easy it is to get started with just an internet connection and a smartphone or computer.
How to Buy Bitcoin Egypt Quick Guide
Luckily for crypto enthusiasts in Egypt, some of the top global exchanges are accessible. We focus on the biggest crypto exchange on the planet, Binance, where Bitcoin as well as 600+ crypto can be traded using a variety of methods:
- ✅Step 1: Open an account with Binance – Get started by entering a few personal details.
- 👌Step 2: Verify – Users will need to take a selfie and upload a photo of some ID. This process is automated and swift.
- 💳 Step 3: Deposit – Binance permits a massive range of deposit methods, including credit/debit card, bank transfer and key phone payment wallets like PayPal, Vodafone Cash and Orange Pay.
- 🔎 Step 4: Search for Bitcoin – Bitcoin is easy to find on Binance. Just enter ‘BTC’ in any of the search boxes.
- 🛒 Step 5: Buy – Egyptian investors will find Binance’s P2P trading forum particularly accessible. With standard accounts, Binance automatically provides a wallet where bought crypto can be stored. Or a third-party wallet can be set up and linked.
Crypto assets are a highly volatile unregulated investment product.
Where to Buy Bitcoin in Egypt
Religious and governmental regulation can present difficulties if an investor wants to buy Bitcoin in Egypt. Below we present six Bitcoin vendors which give investors the best chance of successfully making a BTC purchase.
How to buy Bitcoin in Egypt in a way that suits the investor depends on preference too:
- A relatively simple service is offered by the exchange on our list serving MENA: Bitoasis. Bitoasis requires SAR or AED to open an account.
- Flexibility for Egyptian investors is offered by Paxful. This is the P2P (peer-2-peer) platform founded by Egyptian/US CEO Ray Youssef. Egyptian investors can browse through various Bitcoin offers and pay with many methods.
- Big US exchanges Coinbase and Crypto.com are known for a beginner-friendly approach, plenty of ways to deposit funds, and many trading options.
- Capital.com stands out as a broker because it offers CFD trading only. Trading Contracts-For-Difference suits investors who want to speculate on the price of Bitcoin, but who do not want to actually own it.
- Top of our list is Binance. Binance offers numerous ways to trade Bitcoin, including P2P trading. With P2P trading on Binance, numerous payment methods are permitted and the Egyptian Pound is welcome.
1: Binance — Giant Bitcoin Exchange with 600+ Crypto to Trade
With 600+ crypto on offer and over $5bn of crypto business done every day, giant crypto exchange Binance is a natural destination for investors wanting to buy Bitcoin in Egypt. The Bitcoin ecosystem is well-established, with many ways to trade Bitcoin as well as many DeFi (Decentralised Finance) options.
International investors can deposit funds with Binance and buy crypto using credit/debit card, direct bank transfer and third-parties like Simplex and Bana. Or investors may transfer crypto in from a crypto wallet, and use that to trade on Binance’s mighty exchange. Stablecoins like Binance USD (BUSD) and Tether (USDT) are popular choices as trading collateral.
For the investor wanting to buy Bitcoin in Egypt, Binance stands out with its P2P (Peer-2-Peer) trading platform.
Here a range of key crypto is on offer:
- Bitcoin (BTC).
- Stablecoins Tether (USDT), DAI (DAI) and Binance Dollar (BUSD).
- In-house crypto Binance Coin (BNB).
- Key blockchain crypto Ethereum (ETH) and Cardano (ADA).
- Popular meme coin Shiba Inu (SHIB).
With Binance P2P, investors looking to buy Bitcoin in Egypt can track down an independent Bitcoin vendor, accept the deal on offer and pay remotely to have the purchased Bitcoin sent to a specified crypto wallet address.
Fractions of Bitcoin may be purchased, with different vendors specifying different minimums. Critically Egyptian pounds are accepted, as we can confirm from the screenshot above. What’s more, over 100+ payment methods are accepted, including the phone company payment systems like Vodafone Cash and Orange Money that are popular in countries where crypto trading is otherwise problematic.
Cryptoassets are a highly volatile unregulated investment product.
2: Crypto.com — Beginner-Friendly Bitcoin Exchange
Crypto.com is a US-based crypto platform that performs over $0.5bn USD worth of business every day. As we might expect from an enterprise this big, Crypto.com offers an impressive crypto ecosystem:
The Crypto.com Exchange
Accessible via desktop, the exchange allows trading in Bitcoin and other crypto. It uses a maker/taker commission fee schedule. Investors can expect to pay a maximum of 0.4% on crypto trades.
The Crypto.com App
Downloadable to the investor’s smartphone, this app presents 250+ crypto for trade.
Accessible on the app too are staking opportunities. With $5,000 of BTC staked and $400 or less of in-house crypto CRO, investors can return $120 USD per year. Rewards of up to 14.% APY (Annual Percentile Yield) are obtainable for stablecoins.
The app has attracted an average review score of 4.2/5 on the Apple App Store and 3.8/5 on Google Play.
The Crypto.com DeFi Wallet
Investors may use both the exchange and the app without getting the Crypto.com DeFi wallet. But we recommend this wallet, as it offers a range of powerful functions and zero fees on transactions (other than unavoidable network fees).
A particular bonus here is the ability to set the priority when sending/receiving Bitcoin. This keeps network fees as low as possible (if desired).
The wallet has attracted an average review score of 4.2/5 on the App Store and 4.0/5 on Google Play.
The Crypto.com ecosystem is secured by an impressive array of compliance with ISO 22301:2019, ISO/IEC 27701:2019, ISO/IEC 27001:2013 and PCIDSS v3.2.1 Level 1.
Cryptoassets are a highly volatile unregulated investment product.
3: Capital.com — Trade Bitcoin with CFDs
Capital.com is not a crypto exchange like Binance and Crypto.com. Capital.com is a heavily-regulated broker that offers a select range of crypto alongside a giant offering of traditional assets:
- 5470 different shares.
- 23 indices.
- 48 commodities.
- 138 forex pairs.
Crypto.com offers crypto trading in 470 pairs. These include two main types of pair: crypto crosses, where one crypto is traded against another (ETH/BTC for example) and crypto-fiat crosses, where a crypto is traded against a fiat currency (BTC/USD for example).
What sets Crypto.com apart is that investors do not need to own the underlying crypto to make trades. In fact, owning crypto is not possible with Crypto.com. All trading is conducted via CFDs (Contracts-For-Difference).
With CFDs, the investor faces the disadvantage that crypto cannot be withdrawn to a wallet and used for payment on the internet.
The advantage, though, is a big one: with CFDs, investors can ‘go short’ on crypto. This is very useful when the crypto sector is on the slide, as it has been since the new year. What’s more, CFDs allow for margin trading, which means investors can gear their trades to produce higher returns/losses.
Capital.com offers a smartphone trading app and is regulated by key authorities globally, including ASIC, the FCA and CySEC.
Cryptoassets are a highly volatile unregulated investment product.
4: Coinbase — Big US Exchange to Buy Bitcoin in Egypt
Based in San Francisco, California, Coinbase is the second-biggest crypto exchange in the world behind Binance. Coinbase handles over $1bn of crypto business every day. With over 73m users worldwide, this was the first exchange in the world to get listed on the stock exchanges, with an IPO on the US NASDAQ in 2021.
Coinbase’s international reputation stands on its combination of a decent selection of 160+ crypto, excellent security and comprehensive support for crypto beginners.
Coinbase was one of the first exchanges to pioneer ‘cold’ storage. This means that 98% of crypto held by Coinbase on behalf of clients is held offline using hardware wallets locked up in safes.
Depending on their country of origin, investors may sign up with Coinbase in a similar fashion to Binance, fund their account and buy Bitcoin instantly with as little as $25 minimum investment. PayPal, Apple Pay and Google Pay are available in limited capacities. But Coinbase no longer accepts credit cards from new customers.
A standout feature of Coinbase is its comprehensive encyclopedia of all crypto on the market twinned with learning modules which can be completed for modest crypto rewards. This makes for a robust, beginner-friendly package overall.
The Coinbase smartphone crypto app has received an average score of 4.1/5 on Google Play and a standout average score of 4.7/5 on Apple’s App Store.
Cryptoassets are a highly volatile unregulated investment product.
5: Paxful — Buy Bitcoin in Egypt using this Egyptian-founded P2P Platform
Paxful is a dedicated P2P platform founded by Egyptian/US CEO Ray Youssef. The platform offers full compatibility with the Egyptian Pound (as well as other currencies), and over 350 payment methods.
The Paxful P2P system hosts 12,000 trusted vendors. Buyers wanting to invest in Bitcoin in Egypt may search the offers available, and then pay for Bitcoin using the payment method advertised. To receive…
Read More:How to Buy Bitcoin Egypt in June 2022
