Can I Buy Tether (USDT) in Saudi Arabia?

Yes, you can buy Tether (USDT) in Saudi Arabia. The best method is to use a licensed exchange regulated by the Saudi Arabian Monetary Authority (SAMA) or other approved Middle Eastern authorities. This ensures that your transactions are secure and compliant with local regulations.

How to Buy Tether (USDT) in Saudi Arabia

Buying Tether (USDT) in Saudi Arabia is simple, especially with a reliable exchange like Bybit. Based in Dubai and trusted by 50 million investors, Bybit supports USDT and over 1,400 other crypto assets. It’s a secure platform that offers instant deposits with Saudi Riyals (SAR) and 50 other fiat currencies.

Here’s a quick guide to buying USDT in Saudi Arabia:

1. Sign Up: Head to the Bybit website, create your account and complete the identity verification (KYC).
2. Deposit Funds: Once logged in, deposit Saudi Riyals (SAR) using options like bank transfer, Google Pay or bank card.
3. Find USDT: Navigate to the trading section and look for the USDT pair.
4. Buy USDT: Enter the amount you want and finalize your purchase.

SAR to USDT Fees

If you're converting Saudi Riyals (SAR) to Tether (USDT), it's crucial to consider the fees involved. You'll typically face deposit, trading, and withdrawal fees, which can vary depending on the platform.

Bybit is a great choice for Saudi users, offering industry-leading trading fees starting at 0.1%. This is compared to popular retail brokers like Coinbase or eToro, where fees can easily exceed 2% per trade.

However, if you use a debit or credit card, expect a 2.99% fee, which is charged by the card provider, not the exchange.

Is USDT Legal in Saudi Arabia?

Yes, Tether (USDT) is legal in Saudi Arabia for buying, holding, and trading. The Saudi Arabian Monetary Authority (SAMA) regulates stablecoins like USDT, making sure transactions happen on licensed exchanges that comply with strict AML and KYC rules.

While SAMA has flagged the risks of crypto, stablecoins like Tether are recognized. Just stick to a regulated exchange to keep your trading safe and compliant.

Bottom Line

Buying Tether (USDT) in Saudi Arabia is simple and legal if you stick to a licensed exchange like Bybit. Just ensure you’re using a platform regulated by SAMA to stay compliant and secure.

Bybit offers low fees and a reliable way to trade USDT, making it a top pick for minimizing costs while trading safely. Always check fees and keep on top of regulatory changes to comply.