Summary: Similar to most major banks in the UAE, DIB does not provide services to buy or sell cryptocurrencies through their bank. If you want to purchase Bitcoin and other cryptocurrencies with a Dubai Islamic Bank account, you will need to use a secure and reliable digital asset exchange.
The only secure and regulated Cryptocurrency trading platform in the UAE is Rain. Rain offers competitive exchange rates, a secure trading environment, and 24/7 customer support. Thus making it an ideal platform for customers of DIB looking to purchase Bitcoin or other Crypto assets safely and securely.
Best Crypto Trading Platform for Dubai Islamic Bank (DIB)
Platform Highlights
- Free and Instant AED deposits from Dubai Islamic Bank to trade 100+ tokens.
- Regulated crypto exchange in the United Arab Emirates and the Middle East.
- The only exchange in the Middle East to offer 0% trading and deposit fees.
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Can I buy Crypto on DIB Online Banking?
The Dubai Islamic Bank does not currently allow its users to purchase Cryptocurrencies directly on its online banking portal. However, there are safe, alternative options to buying Crypto with a DIB account in the UAE. Simply transfer your funds to a secure and licensed digital asset exchange, and buy tokens directly through the platform.
Rain is the best trading platform for DIB customers as it offers free and instant AED deposits to buy and sell over a hundred tokens. It supports a variety of Cryptocurrencies including stablecoins like Tether and USD Coin, plus popular tokens like Bitcoin and Ethereum.
How to buy Bitcoin with Dubai Islamic Bank
If you want to buy Bitcoin and other cryptocurrencies with a DIB account, the best way is through the Rain exchange. Dubai Islamic Bank customers can deposit AED to Rain via Bank Transfer, Credit/Debit card, Easy Deposit, and more. Follow the below steps to buy Bitcoin with a DIB account or card.
- Open a free account on Rain with your e-mail address and finish the verification process.
- Deposit funds from your DIB account via one of the available payment methods.
- Select Bitcoin as the token you wish to buy, input the amount of AED you want to invest, and tap 'Buy'.
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What is Dubai Islamic Bank (DIB Bank)
Dubai Islamic Bank is the first Islamic bank established in Dubai, United Arab Emirates. Dubai Islamic Bank was founded in 1975 by a decree of the late Ruler of Dubai, Sheikh Rashid bin Saeed Al Maktoum. It's the first Islamic bank in the world to have incorporated all the principles of Islam in its practices and is the largest Islamic bank in the UAE.
It offers a wide range of banking products and services that are compliant with Sharia principles. The Bank has a network of over 60 branches and over 200 ATMs across the UAE. DIB also has a presence in Pakistan, Sudan, Turkey, Bahrain, Malaysia, and Indonesia. The bank has won numerous awards and accolades over the years, which is a testimony to its commitment to excellence.
Is it expensive to invest in Cryptocurrencies?
The cost of buying Bitcoin and other Cryptocurrencies can vary greatly depending on the exchange you use, the payment method chosen, etc. Generally, there are three sets of fees charged by platforms which include deposits and withdrawals as well as trading fees when you buy or sell a token.
At Rain, customers can enjoy competitive pricing with no hidden costs. There are absolutely zero deposit or trading fees charged by the exchange, meaning it is completely free to invest in Crypto on Rain. The only fee that you will incur on the platform is a $15 fee when you withdraw funds from the exchange.
Final Thoughts
Investing in Bitcoin and other Cryptocurrencies is becoming increasingly popular in the United Arab Emirates. While there are many exchanges that offer services in the UAE, Rain is the best trading platform for DIB customers as it is an Abu Dhabi Global Markets (ADGM) licensed digital asset exchange. It also has no hidden fees, making it an affordable choice for investing in Crypto.
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Author
Co-Founder & former Investment Banker (Finance MBA) turned Full-Time analyst and Head of Research at Buy Bitcoin Bank. Left traditional finance to pursue my interest in digital assets and decentralized finance.
