Summary
Cryptocurrency trading faces strict regulations in Algeria, with digital currency transactions being illegal under current law. The Bank of Algeria maintains restrictive policies on crypto activities. Despite legal restrictions, Algerians access crypto exchanges through international platforms using credit cards and P2P trading. Here are the best crypto exchanges in Algeria that provide trading services through alternative methods:
Best Crypto Exchanges in Algeria
When selecting cryptocurrency exchanges in Algeria, users must consider several factors due to the country’s restrictive stance on digital assets. While direct trading with the Algerian Dinar (DZD) is limited, international payment methods such as credit cards and bank transfers remain accessible through VPN services. The following comparison details the key features of major exchanges available to Algerian users.
1. Bybit
Users:
40m
Free Demo:
Mobile App:
Bonus
$30,000
Cryptos:
600+
Leverage:
100x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.055%
Pros
- Low fees
- 600+ supported crypto assets
- 100x leverage and deep liquidity
- Advanced order types and additional features
- Great 24/7 customer support
- Automated copy trading
Cons
- Regulatory uncertainty in Europe and USA
- May be confusing for beginners
- Cryptocurrency investments carry high risks
Overview
Bybit stands out as one of the most advanced crypto exchanges with deep liquidity and low fees. Bybit users can trade Spot, Futures, Options, NFTs, and even Inscriptions. Additionally, Bybit offers copy trading and bot trading to automate your income streams. Bybit copy trading is one of the best in the crypto industry.
Where Bybit excels is its derivatives platform with 320+ perpetual futures contracts and up to 100x leverage. With advanced order types such as TWAP or Iceberg orders, Bybit caters to experienced traders seeking the best options.
On the spot market, Bybit supports over 500 cryptos and up to 10x margin, making Bybit a versatile crypto exchange.
With low fees of 0.1% maker and 0.1% taker for spot trading and 0.02% maker and 0.055% taker for futures trading, Bybit has highly competitive fees. To top it all off, Bybit offers fee discounts based on your 30-day trading volume. The more you trade, the more you save.
2. MEXC
Users:
15m
Free Demo:
Mobile App:
Bonus
$20,000
Cryptos:
2400+
Leverage:
300x
Spot Fees:
0.05%
Futures Fees:
0.01%/0.04%
Pros
- Lowest Trading Fees
- 2000+ supported crypto assets
- 300x leverage and deep liquidity
- 24/7 customer support
- Best for altcoin and leverage trading
Cons
- Not available in the US
- Newly launched coins pose high risk
- May request KYC in the future
Overview
MEXC is known as the crypto exchange with the lowest fees. What makes MEXC stand out is its 0% maker fee offer, meaning you can trade without any fees. However, the spot and futures taker fees start at 0.02%. No crypto exchange can compete with the MEXC fee structure.
If you are a day trader seeking high leverage, MEXC may be one of your best options. With 300x leverage over 400 futures contracts and by far the lowest fees, MEXC is truly a day trading heaven.
Even if you are not interested in leverage trading, MEXC has you covered with over 2000 supported cryptocurrencies on the spot market. While MEXC offers tons of new altcoins, we recommend being cautious as the legitimacy of newly listed projects may be questionable.
All in all, MEXC is arguably the best option for high-frequency traders seeking low fees to get the best value for money.
3. KuCoin
Users:
30m
Free Demo:
Mobile App:
Bonus
$10,500
Cryptos:
800+
Leverage:
125x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.06%
Pros
- Beginner friendly
- 800+ supported crypto assets
- 125x leverage and deep liquidity
- 20+ fiat currencies
- Great 24/7 customer support
Cons
- Lacks advanced features
- Not the best liquidity
- Regulatory issues in the US
- Variable spot fees
Overview
Kucoin focuses on offering the best spot trading experience. With over 800 supported cryptos on the spot market, Kucoin is one of the most versatile crypto exchanges when it comes to supported assets. You can trade popular cryptos such as Bitcoin or Ethereum but also less-known cryptos and even meme coins. If you are on the hunt for new and shiny coins that are not popular yet, Kucoin might be your best shop.
Spot fees on Kucoin are relatively average, ranging from 0.1% to 0.32% based on the liquidity of the asset. Futures trading on Kucoin starts at a maker fee of 0.02% and a taker fee of 0.06%.
Kucoin has integrated and ready-to-use crypto grid trading bots to automate your income. You can set up grid bots based on several parameters to trade for you 24/7.
4. Kraken
Users:
10m
Free Demo:
Mobile App:
Bonus:
None
Cryptos:
220+
Leverage:
100x
Spot Fees:
0.25%/0.4%
Futures Fees:
0.02%/0.05%
Pros
- Very beginner-friendly
- Low futures trading fees
- Free demo trading
- Fiat supported
- 24/7 customer support
- Fully regulated
Cons
- High spot trading fees
- Lacks advanced features
- Poor liquidity for futures trading
- Complicated Demo trading
Kraken Overview
Kraken stands out as one of the most beginner-friendly crypto exchanges. With an easy to understand UI, simple features, and a straightforward approach, Kraken has onboarded over 10 million users to its platform from all around the world.
Spot traders can access over 220 cryptocurrencies for buying and selling. For traders seeking more buying power, Kraken offers a leverage trading platform with up to 50x leverage on selected assets such as BTC.
In terms of fees, Kraken has a different approach for spot and futures trading. While spot trading fees are relatively high (0.25% maker and 0.4% taker), the futures fees are very low (0.02% maker and 0.05% taker). Based on your 30-day trading volume, you can obtain additional fee discounts.
What we love about Kraken is its comprehensive fiat support. You can deposit funds using your credit card or bank transfer. Once you are done trading, you can withdraw fiat currencies such as EUR or USD back to your personal bank account to lock in your profits.
5. OKX
Users:
50m
Free Demo:
Mobile App:
Bonus:
$10
Cryptos:
350+
Leverage:
100x
Spot Fees:
0.14%/0.1%
Futures Fees:
0.01%/0.06%
Pros
- Highly efficient trading platform
- 350+ assets
- Free demo trading
- Fiat supported
- 24/7 customer support
Cons
- Not available in the US
- Not beginner-friendly
- Limitations and restrictions in Europe
OXK Overview
OKX is the third largest crypto exchange sorted by daily derivatives volume. This is no surprise since OKX’s focus lies in offering a high-efficiency leverage trading experience. While the UI is not necessarily beginner-friendly, it is one of the fastest and most reliable platforms we have come across.
Over 300 coins are supported on OKXs spot market while 250 contracts are available for futures trading with up to 100x leverage. What makes OKX stand out is its extensive liquidity which are without a doubt at the top of the game.
With low futures fees starting at 0.02% maker and 0.05% taker, OKX ensures a cost efficient derivatives trading environment. Spot trading fees however are on the more expensive side starting at 0.14% for makers and 0.23% for takers.
You can easily deposit funds using your credit/debit card. Additionally, you can deposit and withdraw fiat using your personal bank account, making OKX a reliable platform for on- and off-ramp funds.
Is Crypto Legal and Regulated in Algeria?
Cryptocurrency trading and ownership are effectively banned in Algeria since 2018. The Bank of Algeria enforces strict regulations through the Financial Law of 2018, which prohibits the purchase, sale, use, and holding of virtual currencies. The law specifically declares it illegal to buy, sell, use, or hold virtual currencies, with violations potentially resulting in prosecution under existing financial regulations.
The Central Bank classifies cryptocurrencies as a form of online fraud, citing concerns about money laundering and terrorist financing. The Algerian Criminal Code includes provisions that can be applied to cryptocurrency transactions, with potential penalties for violations including fines and imprisonment.
Financial institutions in Algeria are prohibited from processing cryptocurrency-related transactions, and local businesses cannot legally accept cryptocurrencies as payment methods. The government maintains active surveillance of digital currency activities through the Ministry of Finance and financial intelligence units.
Is Crypto Taxable in Algeria?
Given the illegal status of cryptocurrencies in Algeria, there are no specific tax regulations for digital assets. The Algerian Tax Authority does not recognize cryptocurrency transactions as legitimate financial activities, therefore they fall outside the conventional tax framework.
Any income derived from cryptocurrency trading could potentially be subject to existing tax laws if discovered by authorities. The standard income tax rates in Algeria range from 0% to 35%, depending on the income bracket. Capital gains are typically taxed at 15% for conventional investments.
Disclaimer:
Tax laws are subject to change, and individual circumstances may vary. It is strongly advised to consult with a qualified tax professional or financial advisor for personalized guidance on cryptocurrency taxation in Algeria.
How to Buy Crypto in Algeria
Despite regulatory restrictions, Algerians access cryptocurrency markets through international exchanges. Bybit provides reliable services with multiple payment options and security features.
- Pick a Crypto Exchange: Opt for a platform that caters to international users and offers appropriate payment methods.
- Register an Account: Set up an account and verify your identity if necessary.
- Deposit Funds: Utilize credit cards or peer-to-peer (P2P) trading options to obtain cryptocurrency.
- Select Assets: Choose from prominent cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), or USDT.
- Place Orders: Execute market or limit orders according to your trading strategy.
- Ensure Security: Move your assets to a private wallet for safe storage.
Best Crypto Wallets in Algeria
Securing cryptocurrency necessitates dependable wallet solutions. Ledger hardware wallets provide optimal security with their Nano S Plus and Nano X models, accommodating over 5,500 assets.
Trezor offers safe offline storage with its Model One and Model T devices, which include built-in displays for verifying transactions.
For mobile users, Trust Wallet facilitates easy management of various cryptocurrencies. MetaMask is the main option for transactions based on Ethereum.
Exodus desktop wallet merges security with a user-friendly interface, supporting over 200 cryptocurrencies and offering integrated exchange features.
Bottom Line
For Algerians seeking the best crypto exchanges in Algeria, Bybit stands out with its comprehensive trading features and competitive fee structure. MEXC provides an extensive selection of cryptocurrencies and multiple payment options. While cryptocurrency trading faces regulatory challenges in Algeria, these platforms offer secure and efficient trading solutions with necessary privacy features.
