Where To Buy Bitcoin in Qatar – How to Buy Bitcoin Now Beginner’s Guide 2021

Fact Checked by Gary McFarlane

More and more people buy cryptocurrencies – some to benefit from the huge price increase, others to hedge against inflation in their countries. If you are wondering where to buy Bitcoin in Qatar, you are in the right place.

In this article, we will help you find the right platform that provides you with all the right tools to buy and sell Bitcoin, Ethereum, Shiba Inu, and many other cryptocurrencies. Let’s see what options you have and what advantages you can enjoy if you sign up with one of our recommended brokers for buying Bitcoin in Qatar.

#1 Broker to Buy Bitcoin – eToro

1
$50Exclusive promotion
Our score10
  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
0% Commissionstart TradingOur score 10

Where to Buy Bitcoin in Qatar – Overview of the 3 Best Brokers

There are numerous trading platforms that allow you to buy cryptocurrency nowadays. However, how safe are these brokers? Is their cost worth your investment? In the next sections, we will present you with the top three brokers to buy Bitcoin in Qatar right now.

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Axie Infinity ShardsAxie Infinity Shards
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Alien WorldsAlien Worlds
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for $100 you get0.0035 BTC
What we like
Trade real cryptos and crypto CFDs
Licensed broker with deposit insurance
Integrated wallet
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for $100 you get0.0035 BTC
CFDs are complex instruments and carry a high risk of losing money quickly through leverage. 75% of retail investor accounts lose money when trading CFDs from this provider.
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for $100 you get0.0035 BTC
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Careful selection of cryptocurrencies
Regulated by CBI and MiFID in Europe
No commissions and low spreads
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for $100 you get0.0035 BTC
CFDs are complex instruments and carry a high risk of possible rapid loss of capital due to their leverage. 71% of retail investor accounts lose capital when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take high risk in losing your capital.
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for $100 you get0.0035 BTC
What we like
Broker vollständig reguliert
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Libertex Erfahrungen seit mehr als zwanzig Jahren
Fees
Safety
Coin selection
for $100 you get0.0035 BTC
83% der Konten von Privatinvestoren verlieren beim Trading von CFDs bei diesem Anbieter Geld. Ihr Kapital ist im Risiko
Features
For beginnersMobile App
Payment methods
Credit CardGiropayNetellerPaypalSepa TransferSkrillSofort

How to Buy Bitcoin in Qatar – The Quick Four-Step Strategy

If you want to skip to buying bitcoin in Qatar without further ado, here is our quick four-step guide:

  • Step 1: Sign up with eToro:eToro is our top pick for buying Bitcoin in Qatar. Sign up and fill in the form with your personal details.
  • Step 2: Verify your Trading Account: Upload your government-issued ID and proof of address to verify your identity.
  • Step 3: Add funds to the Trading Account: Deposit your capital into your account using one of the many payment methods available, including PayPal and debit/credit cards.
  • Step 4: Buy the Bitcoin Cryptocurrency: Type in “Bitcoin” in the search bar at the top, select the cryptocurrency, and click on “trade” to place an order with your desired amount of money.

Where to Buy Bitcoin in Qatar – Choosing the Right Broker

1. eToro – Best Place to Buy Bitcoin in Qatar

eToro is now available in more than 100 countries around the world, including Qatar. When it comes to buying Bitcoin, you have plenty of options.

First, you can simply follow our guide to buying cryptocurrency. If you don’t have much experience, you can opt for Crypto CopyPortfolios, eToro’s social trading feature that allows you to copy an entire portfolio that contains multiple cryptocurrencies. Also, you have the option to copy other master traders that invest in Bitcoin and/or other cryptocurrencies.

eToro is fully regulated, and you also have access to a hot wallet. This is a secure place where you can store your digital currencies, receive or send the tokens, and more. Apart from Bitcoin, the platform also allows you to trade other popular cryptocurrencies, including Shiba, Litecoin, Ethereum, Cardano, and many more. Buying and selling unleveraged cryptocurrencies comes with a 0% commission.

Finally, if you are a beginner, you may enjoy the fact that you can buy cryptocurrencies for only $25, while the minimum deposit is $1,000 for Qatar residents. After the first minimum deposit, the subsequent ones can be as low as $50.

eToro Fees

Deposit fees 0%
Withdrawal fees $5
Trading Commissions 0%
Extra fees $10/month inactivity fee

 

Pros Cons
$0 commission when trading cryptocurrencies (unleveraged) Bitcoin spread is 0.75% per transaction
Safe, regulated brokerage platform A low fee of $5 per withdrawal
Demo account available for beginners
 No management fees
No extra fees for copy trading
You can invest in ready-made crypto portfolios
The platform is easy to use
Free deposits

 

67% of all retail investor accounts lose money when trading CFDs with this provider.

2. Cex.io – Cheapest way to buy Bitcoin in Qatar

Cex.io is a popular cryptocurrency trading platform that has constantly updated its offering. Since 2013, it has evolved into one of the safest platforms on the market. Cex.io is now considered one of the oldest Bitcoin exchanges and it started as the first Bitcoin cloud-based mining company. Ghash.io, its mining pool, used to be responsible for 42% of the entire network mining power.

In 2015, Cex.io closed its mining operations and now operates only as a Bitcoin exchange. It is heavily regulated and a safe platform if you want to buy Bitcoin in Qatar.

Unlike other trading platforms, Cex.io works using Fill-or-Kill (FOK) orders. This means that you receive Bitcoin only at the price you agree to pay – which solves liquidity-related issues. For instance, if you decide to buy Bitcoin at an agreed rate, you will definitely receive the same amount (or better). Other trading platforms will wait for a seller who is willing to accept your requested price, so you may not be able to buy or sell exactly when you want or at the price you expect.

However, to fulfil such FOK orders, Cex.io charges several fees, which could make it unappealing to many crypto traders. Deposits are free, but popular methods like Skrill, Visa, and Mastercard come with 2.99%-3.99% fees. Examples of free payment methods include ePay and Advcash. The only ways to make free deposits and withdrawals are Advcash and ACH, but this also depends on the currency you use (i.e., free only for USD).

Also, when you trade, you need to cover fees – these start at 0.25% and decrease down to 0.20% the more transactions you make. Crypto trading is also subject to limits – for instance, basic accounts can only buy $500 worth of Bitcoin per day and a maximum of $2,000 per month. Verified accounts can expand these limits to $10,000 and $100,000 respectively. Verified plus and corporate accounts have no limits.

Cex.io Fees

Deposit fees Variable
Withdrawal fees Variable
Trading Commissions Up to 0.25%
Extra fees $0
Pros Cons
One of the oldest cryptocurrency exchanges Restricted credit card payments in Qatar
Fully regulated and based in the UK Complicated fee structure
FOK orders guarantee trades at your desired price
Numerous cryptocurrencies available
Great customer service

 

67% of all retail investor accounts lose money when trading CFDs with this provider.

3. Coinmama – Easiest Way to Buy Bitcoin in Qatar

Similar to Cex.io, Coinmama is one of the oldest crypto exchanges in the world. It has been selling Bitcoins for fiat currency much longer than most other platforms, and it is also one of the safest platforms around. This is because, unlike other trading platforms, Coinamama doesn’t store your purchased cryptocurrency on its servers – rather, it transfers the cryptocurrency to your own wallet, so there are no incentives for hackers to attack it. You can buy Bitcoin on Coinmama with your credit or debit card, via a bank account, and others.

Unlike other competitors such as eToro, Coinmama does not have a mobile app. It is only available via your browser. You can buy up to $100,000 worth of cryptocurrency, but you need to fully verify your identity. Apart from uploading your government-issued ID and proof of address, you also need to contact the team directly via email to fill out a form.

Coinmama is not very budget-friendly when it comes to buying Bitcoin. There are several fees that can add up quickly when buying crypto, such as trading commissions of 3.81% (or less depending on your loyalty program; for lower commissions, you need at least US$5,000 spent in 90 days), credit and debit card transaction fee of 5%, a 2% markup on the market price, among others.

Coinmama fees

Deposit fees 5%
Withdrawal fees 0%
Trading Commissions 3.81% (for buying)
Extra fees 2% markup on BTC market price

 

Pros Cons
Easy to use High fees
Sends Bitcoin to your own wallet, which is safer  No mobile app
It takes one hour to receive the crypto to your wallet
Multiple payment methods available
Very easy to buy cryptocurrency

 

67% of all retail investor accounts lose money when trading CFDs with this provider.

Why Buy Bitcoin Today?

Decentralized Currency

One of the main reasons why Bitcoin appeals to many people is that it is not regulated by the government or any other central authority. In other words, unlike fiat currency, Bitcoin provides maximum autonomy over your money – there are no taxes, it protects you against inflation, and is not affected by government policies, unlike physical currencies.

Pseudonymous Transactions

When we use banking services, we provide all of our private information. This is can be then the target of malicious hackers or malware, which means that our confidential data (and money!) could be stolen. Also, as we’ve seen in the case of the financial crisis in 2007-2008, banks are not infallible. In fact, they are vulnerable to bankruptcy just like any other company. Bank runs and, subsequently, crashes mean that you are not actually in control of your funds when you use banking services.

At least theoretically, Bitcoin provides users with maximum control over their money since it is not tied to any authority or government policy. As a matter of fact, many people, particularly in the Middle East, use it when they play online casinos because it ensures complete security and transparency since it does not reveal any information about the player. As a result, the player has access to a large number of online casinos that accept bitcoin as a payment method and can play safely and securely. Bitcoin is transferred via “pseudonymous” transactions – these are anonymous, but not completely. Transactions can only be identified using the blockchain address, and one user can have several addresses (i.e., similar to having different passwords for one single account). The transaction does not require vulnerable information like Internet Protocol (IP) or other personal information that could be used to identify you. This security alone is a strong incentive for users to buy Bitcoin.

Growing Adoption

More and more companies are now accepting payments via Bitcoin. Most of these are online retailers, but several small businesses have also embraced cryptocurrency for overseas transactions.

Since there are no banks or other intermediaries to charge fees on it, cryptocurrency remains a cheaper alternative to fiat currency in case of such transactions that would otherwise involve different institutions and, thus, higher costs.

Also, its future adoption is nothing short of fascinating – from buying goods to protecting your wealth against inflation and fiat currency ups and downs, Bitcoin has plenty of potential.

BTC price broke above $68,000 as of November 9th 2021 and still struggles towards the $70,000 mark as it fights the resistance level. Bitcoin’s current price is $66,826.

Impossible to Hack or Steal

Bitcoin is not a physical currency. Thus, thieves cannot steal it from you. While there have been hacking attempts at many organizations in the world, Bitcoin exchanges are technically impossible to be hacked. Blockchain technology is designed in such a way that no one has so far managed to break it.

Hackers may be able to steal your Bitcoin only if they have access to your personal keys to your hot or cold wallet. However, with proper security and not sharing or losing your private keys, it is impossible for someone to steal your Bitcoins.

Safest Ways to Buy Bitcoin in Qatar Today

There are several ways to purchase Bitcoin safely. However, the first step is to choose a regulated platform where you can conduct your transactions. Our top reliable broker is eToro, which is highly recommended if you want to invest not only in Bitcoin, but also in stocks, bonds, and other assets.

Buy Bitcoin with PayPal

Perhaps the easiest way to fund your account is via PayPal. The transaction is instantaneous, so you do not need to wait several business days to see the money in your account. To purchase Bitcoin, access your trading platform and choose to make a deposit. Although eToro does support PayPal transactions, not all brokers do, so make sure your chosen one has this option. On eToro, for instance, you can buy Bitcoin via PayPal completely free of charge.

Buy Bitcoin via PayPal at eToro >

Buy Bitcoin with Debit/Credit Card

Another popular method is to use your debit or credit card. If you do not have a PayPal account, this may be a great alternative. Fortunately, eToro also supports this payment method, although some other brokers do not. Also, there may be certain trading platforms that charge you high fees when using debit or credit cards, so make sure you check the terms and conditions before signing up.

Buy Bitcoin via Card at eToro >

Buy Bitcoin via Bank Wire Transfer

Finally, another safe method to buy Bitcoin is via bank wire transfer. However, unlike the instant payment methods explained above, bank wire transfers take up to seven business days for processing. In other words, you may need to wait at least 2-3 days for your money to reach your trading account. Also, bank wire transfers may also come with additional fees, so make sure you check all the extra charges before opting for this payment method.

Buy Bitcoin via Bank Wire Transfer at eToro >

Risks of Buying Bitcoin Today

Decentralized Currency

Although this is the main benefit of cryptocurrencies, the lack of government authority over Bitcoin is also a risk. In other words, there are no regulations aimed to protect your capital. Unlike bank transactions, for instance, Bitcoin transactions are often irreversible – which makes the cryptocurrency the target of many scams, fraud, and other criminal activity.

Also, the lack of government intervention means higher risks for investors’ wealth. For instance, if a major group of institutional investors simply decide to sell their Bitcoins today, the price would tank, wiping out your investment, too.

Newer and Better Cryptocurrencies

Bitcoin is the most popular cryptocurrency, but this does not mean that it’s also the best. Since its inception, many other coins have appeared meanwhile. Some of these come with fewer costs, are more environmentally friendly (i.e., use less energy), and come with higher transaction speeds. This is one of the reasons why most investors do not only opt for buying Bitcoin, but also other cryptocurrencies like Cardano (ADA) or Ethereum.

Lagging Adoption

Despite the sky-high valuation of Bitcoin and the general buzz around the coin, it has yet to be widely accepted as a payment method. In other words, there is not much opportunity to spend your Bitcoin, unless more and more companies adopt it. However, most investors prefer to buy and hold it due to huge capital appreciation.

How to Buy Bitcoin in Qatar – A Full eToro Guide

Step 1: Signup for an Account on eToro

how to buy bitcoin

eToro is one of the most popular trading platforms nowadays for both beginner and veteran traders. If you also want to join this vibrant community where you can share investing ideas with others, buy Bitcoin at a low cost, and create a diversified portfolio, click on “Sign Up”. Fill in the form as shown above with the required personal information and click on “Create Account”.

Buy Bitcoin Now >

Step 2: Verify your Trading Account

how to buy bitcoin

As eToro is a fully regulated broker, you need to verify your identity before placing your trade. Upload your government-issued ID and proof of address, such as a utility bill. Once you upload the required documents, eToro will automatically verify and validate your account.

Step 3: Fund your Trading Account

how to buy bitcoin