The crypto space has come a long way.
And this is especially true if I’m here writing how Saudis can buy bitcoin.
Pretty interesting if you’d ask me.
But the thing is, while in the earlier years people didn’t believe in crypto; we’re finally at a point where Investors have seen its unique use-case and its potential for growth.
However, it’s no secret that buying your first Bitcoin or cryptocurrency as a Saudi Arabian, can be quite complex; and especially for complete beginners.
How to buy bitcoin in Saudi Arabia with Saudi Riyals
Hence, on this tutorial I’ll take you through a simple step by step guide on how you to buy bitcoin with Saudi Riyals on one of the largest crypto exchange platforms — Binance.
Binance stands out with its simple interface and comes with diverse payment methods to meet the needs of different users across the globe.
I’ve been using Binance for about 2 years now. Its one of the best crypto exchange platforms out there.
We’ll go through how you’ll setup your your Binance account to the point of how you’ll buy bitcoin as a Saudi.
Let’s get started…
Why Buy Bitcoin?
But first of…
Before we dive into the nitty gritties of how to buy bitcoin in Saudi Arabia, let’s first understand the value and use-case that Bitcoin brings on board.
Bitcoin typically acts as a hedge against traditional financial systems.
It is a solid way for investors to diversify their investments and protect assets from inflation. (This is especially true for economies that rely on fluctuating oil prices)
Some benefits of Bitcoin include:
Decentralization: Being that Bitcoin operates without a central authority, it is less prone to government control.Has a massive potential for growth: Although cryptocurrencies are quite volatile, Bitcoin has shown nothing but significant growth since its inception.Unlimited accessibility: Bitcoin is so flexible that it can be bought, sold and used anywhere across the globe therefore making it a global currency.Transactions privacy: Your transactions with bitcoin are more private compared to traditional payment systems. (and especially when using safe & secure crypto exchange platforms like Binance)
Now, we’ll get into the actual process of buying bitcoin on Binance for Saudi Nationals.
Step 1: Set Up a Binance Account
Before we get started with everything, you’ll need to register a Binance account.
The good thing is Binance is very much available in Saudi Arabia and you’ll find tons of features made to buy bitcoin easy for Saudi’s.
Steps to Create an Account:
Visit Binance website
Go to Binance.com (use this exclusive Binance link given by Binance to give you a 20% off on all trades & a $300 sign up bonus) and you’ll end up right on the registration page.
2. Provide your details: Just like opening any other account, you’ll need to register with your email address and setup a strong password for security purposes.
(It is important to use an email that you use regularly).
You’ll be required to verify your email. Hence, Binance will send you a verification code to your email. Go to your email inbox and input the code in the entry on Binance.
And so, you’ll have activated your account.
3. Identity Verification (Know your customer): In order for your account to remain secure & comply with the local regulations, it is vital that you verify your identity(KYC).
Think of it as how you’d open a Bank account. It is impossible to do this without using your identity documents. Same thing applies here.
As a Saudi, you’ll need to use a form of identification like your passport or even Iqama (Saudi residence permit).
See this small tutorial to guide you on completing verification. Only takes a few minutes>>
https://medium.com/media/b12b4c6a525a2e46bded7142b5c20dab/href
4. 2-Factor Authentication (2FA): Once done with the above steps, it is important to add a layer of security to your Binance account.
To enable 2-FA, navigate to the top right of the Binance page on your Binance desktop, and hover on the profile icon.
You’ll see “account” option on the list. Click on it.
Once you click on it, proceed to click on the “security” option under account and you’ll have the chance to enable 2-factor authentication.
When your account is secure and verified, you’re pretty much ready to deposit funds and get started with trading.
Step 2: Deposit Funds into Your Binance Account
One of the good things about Binance is that it comes with a variety of payment options.
As a Saudi, you have one major option for funding your Binance account; peer to peer trading.
Buy Bitcoin with P2P Trading
Binance’s Peer-to-Peer (P2P) platform is an excellent way to buy Bitcoin with SAR. Its user friendly and makes the whole process easy.
P2P allows you to buy Bitcoin directly from other users in Saudi Arabia using payment methods such as bank transfers, STC Pay, or cash deposits.
Steps to Buy Bitcoin via P2P:
While logged in on Binance, go to “Trade”> “P2P Trading”.Buy Bitcoin in Saudi ArabiaOnce on the p2p page, select “SAR” as currency, “Saudi Arabia” as region and you’ll have multiple options of payment options you can use.
Major ones are Al Rajhi Bank, Bank transfer, Saudi National Bank (AlAhli Bank), Transfers with specific bank, & STC pay.
Please note, on p2p, most merchants will be selling USDT rather than BTC, so you’ll need to buy USDT first and later convert it into BTC.
USDT is a stable coin that’s always equivalent to the value of the US Dollar.
How to buy crypto in Saudi Arabia
2. Select the payment option that you’re comfortable with among the various payment options and the merchants that offer your preferred payment option will appear.
3. Go through the payment limits that each merchant offers and choose the merchant that is within your limits.
4. In order, to initiate transaction you’ll need to click on “Buy USDT” with the merchant you’ve chosen.
5. Enter the amount of Saudi Riyals you want to buy in USDT and click on “Buy USDT”
Buy bitcoin in Saudi Arabia
6. Once you initiate the transaction, make the payment to the details provided through the payment method you chose, and the merchant should release your USDT to your funding wallet.
(This transaction should typically take about 5–10 minutes)
Note: Binance P2P uses an escrow system. This means once you make payment, the USDT is locked by Binance, and once the merchant confirms they’ve received payment, the USDT is released to your funding wallet.
7. In order to convert USDT to bitcoin, navigate to wallets >funding wallet as shown below.
How to buy bitcoin in Saudi Arabia
8. Then click on “convert” in the funding wallet page.
Buying cryptocurrency in Saudi Arabia
9. A popup will appear that allows you to convert USDT to whichever cryptocurrency you’d want. Proceed to Convert the USDT to Bitcoin.
Buy bitcoin in Saudi Arabia
10. And now the BTC will be available in your funding wallet. If you plan to actively trade, you can transfer it to the spot wallet as shown below.
Step 3: Transfer Your Bitcoin to a Secure Wallet
After purchasing your bitcoin, you have the option to leave it in your Binance wallet or transfer it to a personal wallet.
If your goal is to trade Bitcoin actively, its best to leave it on Binance being that its a very secure crypto exchange platform.
However, if you just plan to hold Bitcoin long-term, consider moving to a secure hardware wallet like Trezor or Ledger.
Step 4: Monitoring your Bitcoin Investment
Its not enough to just purchase Bitcoin. As a crypto investor, you need to stay informed about the crypto market.
Crypto is volatile; and hence you’ll need to observe market trends and determine when to buy, sell or hold your investment.
On platforms like Binance, there are a couple of tools that can help to monitor your Bitcoin investment. Some of them include:
Price Alerts: As a Binance user, you can set price alters that will notify you when your crypto asset hits a particular price point.Market charts: Take the time to review real-time market charts to see the performance of your crypto asset.
Is Buying Bitcoin Legal in Saudi Arabia?
Being a Saudi, you’re probably wondering if its legal to own Bitcoin in Saudi Arabia.
As of the writing of this article, the Saudi Arabian Monetary Authority (SAMA) is yet to endorse or regulate cryptocurrencies.
Nevertheless, there aren’t any laws that prohibits Saudi Nationals from buying Bitcoin.
Saudi citizens have actively been trading BTC and other crypto assets on platforms like Binance legally.
Things to Consider Before Buying Bitcoin
Bitcoin is a crypto asset that comes with many opportunities. However, its important to approach it with caution.
Volatility: Bitcoin is highly volatile and prices tend to experience utmost fluctuations.Security: Security is pretty crucial when it comes to cryptocurrencies. Always make sure you store BTC in a secure wallet and also enable 2FA authentication.
Conclusion
Bitcoin continues to grow as a valid investment asset for Investors. If you’re from Saudi Arabia, I hope this guide has helped you to buy bitcoin in simple and easy steps.
And now, you’re on your way to establishing a diverse investment portfolio; one crypto asset at a time. See you on the other side.
Mashallah…
Disclaimer: This article is meant for educational purposes only and should not be construed as an investment advice.
Affiliate Disclosure: This blog post may contain affiliate links.
How to buy Bitcoin in Saudi Arabia in 2025(Easy steps) was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.