Can I legally buy cryptocurrencies in Kuwait?
Cryptocurrencies are a relatively new phenomenon and their legal status is still being determined in many countries, including Kuwait. The government has not yet issued any clear guidelines or regulations on the matter. Still, it has announced that you can legally invest in cryptocurrencies and they will be considered a taxable assets.
Currently, no specific laws or regulations prohibit the buying or selling of cryptocurrencies in Kuwait. However, this could change in the future if the government decides to take a more definitive stance on the matter. For now, it appears that buying and selling cryptocurrencies in Kuwait is legal. And eToro is properly regulated and licensed to sell cryptocurrencies in Kuwait.
How to Buy Bitcoin in Kuwait
In this method, we show investors how to buy Bitcoin in Kuwait through the eToro exchange. Follow the below steps to securely buy cryptocurrencies in Kuwait.
- Sign Up: Open an account on eToro and verify your identity.
- Deposit Funds: Pick a method and fund your eToro account.
- Buy Bitcoin: Type Bitcoin in the search bar and click 'Trade'.
Is it expensive to purchase cryptocurrencies?
This depends on what exchange you use to buy cryptocurrencies. Every cryptocurrency investing platform has different pricing and some exchange charge multiple fee types including deposit, trading, FX, admin, account and withdrawal. eToro however, only charges one fee and that is a 1% trading fee any time you buy or sell cryptocurrencies. Deposits are free and there is a small $5 withdrawal fee.
What methods can I buy crypto with in Kuwait?
The eToro platform offers multiple deposit methods for Kuwait residents and they are all free of charge. This means if you send $100 from your bank account to eToro, you will receive the entire total of $100 on the other end, with no fees. The available deposit methods are Bank Transfer, Rapid Transfer, Credit/Debit Card, PayPal, Skrill & Neteller.