Best Crypto Exchanges in Egypt

Best Cryptocurrency Exchanges in Egypt

Our team analysed 14 cryptocurrency exchanges available to users in Egypt, focusing on options that follow the Central Bank of Egypt’s (CBE) regulatory guidelines. We assessed factors such as fees, supported cryptocurrencies, platform features, and deposit methods for the Egyptian pound (EGP). Based on our review, here are the top 5 platforms for Egyptian traders.

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1. Bybit

Bybit is the best exchange in Egypt, offering a wide range of 1,400 digital assets. Whether you're trading spot, futures, or options, it has you covered with up to 100x leverage for the more adventurous traders. For those new to crypto, the platform offers a demo account to practice trades without risking real money and an education Learn program.

In addition to trading, Bybit has great earning features. You can stake, lend, and borrow crypto, with some tokens offering up to 280% APY. If you're interested in passive income, the copy trading feature lets you mirror the strategies of top traders. Bybit is also one of the few exchanges that regularly publishes its reserves, highlighting that all assets are backed up 1:1.

• Fees: Maker fee at 0.02%, taker fee at 0.055% for futures and 0.1% for spot trading.
• Supported Assets: Over 1,400 digital assets.
• Regulation & Licensing: Adheres to international regulations and is available in Egypt.‍
• EGP Deposit Methods: Bank transfers, Vodafone cash, Orange Money, Apple Pay, Google Pay, Samsung Pay, Maestro, credit cards and debit cards.

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2. Binance

Binance is a favorite among local investors because it offers so many ways to deposit Egyptian pounds (EGP). For those who prefer bank transfers, credit cards, or even peer-to-peer (P2P) transactions, the exchange makes it super easy to fund your account. It is home to over 210 million registered users across Egypt and 100 other countries. 

It supports over 350 cryptocurrencies and various trading options like spot, futures and options with 50x leverage. The platform has additional features like an NFT marketplace, staking, and savings products. Plus, it has a user-friendly mobile app that can be used in several languages, including Arabic and 40 other options.

• Fees: Spot trading fee is set at 0.1%, while derivatives trading follows a maker/taker fee structure of 0.02%/0.04%. 
• Supported Assets: Over 350 cryptocurrencies. 
• Regulation & Licensing: Globally licensed and available in Egypt.‍
• EGP Deposit Methods: Bank transfers, Fawry Payments, credit cards and debit cards.

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3. OKX

OKX is known for its advanced trading options, making it an excellent choice for institutional investors in Egypt. The platform offers a wide range of services, including spot trading, futures, and options, with ultra-low latency API connectivity designed to improve capital efficiency. Users can trade futures markets with leverage options up to 100x available.

The exchange also provides access to the Web3 ecosystem, allowing users to manage their decentralized assets through its integrated OKX wallet and explore DeFi, NFTs, and gaming on the OKT Chain. Users who hold the platform’s native token, OKB Coin, can get special perks, such as reduced trading fees.

• Fees: 0.1% spot trading fee and a maker/taker rebate of 0.02%/0.07% for futures. 
• Supported Assets: Over 300 cryptocurrencies. 
• Regulation & Licensing: OKX holds a license from the ADGM in the UAE to operate in the MENA region.‍
• EGP Deposit Methods: Bank transfer, credit card and debit card.

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4. BitOasis

BitOasis is one of the leading exchanges in the Middle East, making it a popular choice for Egyptian traders looking for a reliable platform. Established in 2015, it offers more than 60 cryptocurrencies and allows users to trade in Egyptian pounds (EGP). It supports a variety of trading instruments, providing both individual and institutional clients with flexibility.

The platform provides a range of services tailored for different trading needs. The Lite version is perfect for users looking for simple buy and sell options with zero trading fees, while BitOasis Pro is better for advanced traders, offering real-time trading charts and sophisticated order types. It also offers OTC trading for high-volume transactions and has a VIP program.

• Fees: 1% - 2% spread on assets.
• Supported Assets: Over 60 cryptocurrencies. 
• Regulation & Licensing: BitOasis is licensed by VARA to operate in MENA, the UAE and GCC regions.‍
• EGP Deposit Methods: Bank transfer, credit card, and debit card.

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5. Gate.io

Gate.io is a great choice for Egyptian investors interested in various altcoins. Although it doesn't operate under the direct oversight of Egypt's financial regulatory bodies, the platform is fully accessible to users in the country. With an impressive selection of over 2,100 cryptocurrencies, it provides an excellent opportunity for traders to diversify their portfolios. 

Gate.io sees significant activity, with daily trading volumes often surpassing $5 billion. With over 16 million registered users, its international appeal is enhanced by features like automated trading bots, staking services, lending and borrowing, an NFT marketplace and crypto debit card. The platform also hosts a dedicated section for emerging crypto projects.

• Fees: 0.1% for maker orders and 0.2% for taker orders.
• Supported Assets: More than 2,100 digital currencies.
• Regulation & Licensing: Based in the Seychelles, Gate.io welcomes Egyptian investors despite the lack of local regulatory licensing.‍
• EGP Deposit Methods: Debit and credit cards.

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Is Crypto Regulated Legal in Egypt?

Crypto regulations in Egypt are strict, with the Central Bank of Egypt (CBE) taking a cautious stance. Back in 2018, Egypt’s Dar al-Ifta, a top Islamic authority, issued a fatwa classifying Bitcoin as haram, citing concerns about financial crimes and market volatility. In 2020, the CBE implemented Law No. 194, which bans the creation, trading, and promotion of crypto without a license.

Despite these rules, crypto adoption in Egypt is growing. It’s estimated that over 3 million Egyptians own digital assets. Exchanges like Bybit and Binance still operate, allowing users to buy and sell crypto with Egyptian pounds, though the regulatory environment remains a bit of a gray area. While crypto isn't completely banned, we recommend staying updated on the latest laws to avoid any risks.

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How is Crypto Taxed in Egypt? 

The Egyptian Tax Authority (ETA) categorises cryptocurrencies as assets for tax purposes. This implies that individuals and businesses must report and pay taxes on any capital gains derived from buying, selling, or trading digital currencies. The current tax rate is between 20% - 30% for investors who deposit more than EGP 250,000 per month for three consecutive months.

The tax treatment for cryptocurrencies shares similarities with that of other tangible assets, including precious metals like gold. However, the specific tax obligations can be intricate. It is essential for anyone engaging in cryptocurrency activities to stay updated on the relevant tax regulations, as these may differ based on the nature of the transactions.

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How to Buy Bitcoin in Egypt

Investing in Bitcoin through an exchange is pretty simple, even if you’re new to crypto. Here’s a quick guide to help you get started:

1. Set Up an Account: First, pick a reliable crypto exchange that supports Egyptian pounds (EGP). Sign up and complete the verification process by uploading a government-issued ID and proof of address.
2. Deposit Egyptian Pounds: Once your account is verified, head to the deposit section, select EGP, and enter the amount you want to invest. You can usually use bank transfers, debit cards, or mobile payments to fund your account.
3. Find Bitcoin: In the trading section, search for Bitcoin (BTC). You’ll see the current EGP/BTC exchange rate. Place a market order to buy right away, or a limit order if you want to wait for a better price.
4. Complete Your Purchase: Double-check all the details, including any fees, and click 'buy' to confirm.

That’s it, you’re now ready to start your Bitcoin trading journey in Egypt.

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Bottom Line

In conclusion, crypto is gaining traction in Egypt, even with some regulatory hurdles. Platforms like Bybit, Binance, OKX, BitOasis, and Gate.io offer solid options for Egyptian traders, with easy EGP deposits and a range of features. As the market evolves, it's key to stay updated on regulations and pick an exchange that aligns with your trading goals and security needs.