Summary: Buying Bitcoin and Cryptocurrencies is completely legal in Bahrain as outlined by the Central Bank of Bahrain (CBB).
The easiest way to buy Bitcoin in Bahrain is by signing up to a regulated trading platform like eToro BH which offers bank transfers via local banks in Bahrain.
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Is Bitcoin and Crypto investing legal in Bahrain?
In 2019 the Central Bank of Bahrain (CBB) announced a new legislative directive that enabled regulated crypto-asset services, which ultimately legalized Bitcoin and Crypto investing in Bahrain. This means that residents of Bahrain can buy Bitcoin and other digital assets without fear of local financial authorities.
The main factor that Bahrain-based Crypto investors must consider when buying Bitcoin and other digital assets is whether the exchange they use is licensed in their country. This is why we recommend eToro BH as a secure, trusted, and licensed trading platform in the country.
How to buy Bitcoin in Bahrain
The easiest way to buy Bitcoin in Bahrain is through the eToro trading platform. Their exchange offers fast and cheap fiat deposits for residents of Bahrain via Bank Transfer, Debit Card/Credit Card, and even PayPal. The eToro platform offers over 60 Cryptocurrencies and thousands of Stocks, ETFs, Commodities, and more to trade as a citizen of Bahrain.
You can get started buying Bitcoin with this simple guide:
- Step 1: Sign up to the eToro BH trading platform and verify your identity.
- Step 2: Select the 'Deposit Funds' button at the bottom of your eToro Dashboard.
- Step 3: Select the fiat currency and preferred deposit method to start buying Crypto.
- Step 4: Once the fiat has landed in your account, you can buy, sell and trade any of the thousands of assets listed on their platform.
Is Bitcoin popular in Bahrain?
Yes, Bitcoin is popular in Bahrain. In fact, Bitcoin is one of the most popular investments in Bahrain. Bitcoin is seen as a good investment because it has the potential to appreciate in value. Additionally, Bitcoin is seen as a safe-haven asset, which means that it is seen as a good investment during times of economic turmoil.
What are the fees to buy Bitcoin?
The trading fees to buy Bitcoin in Bahrain are low and start at around 1% in total when you include the cost to deposit fiat onto platforms and trade the fiat for Crypto. We generally prefer exchanges like eToro because they offer cheaper fees than other popular platforms like Coinbase which charge up to 2.99% per trade.