Summary
Cryptocurrency trading is legal in Jordan, though under strict regulatory oversight by the Central Bank of Jordan (CBJ). The Jordanian Dinar (JOD) is supported by select crypto exchanges, with bank transfers and credit cards being the primary payment methods. The best crypto exchanges in Jordan provide essential trading services while adhering to local regulations. Here are the best crypto exchanges in Jordan:
Best Crypto Exchanges in Jordan
For Jordanian investors seeking to enter the cryptocurrency market, selecting the right exchange is crucial. The local market supports various payment methods, with direct bank transfers and credit card payments being the most widely used options for JOD transactions.
1. Binance
Users:
200m
Free Demo:
Mobile App:
Bonus:
$100
Cryptos:
400+
Leverage:
125x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.05%
Pros
- Most comprehensive crypto exchange
- Most advanced features and products
- 24/7 customer support
- 400+ cryptocurrencies
- Reputable with over 200 million users
- Best liquidity
Cons
- Not beginner friendly
- Restricted in many regions due to regulations
- EU traders must use BNFCR for futures trading
Overview
Reaching over 200 million registered users in 2024, Binance is by far the largest crypto exchange in the world. The platform is incredibly comprehensive, offering crypto traders all the tools they need to make a profit in the crypto market.
With over 400 cryptocurrencies to trade, leverage of up to 125x, directly integrated charts from TradingView with tons of technical analysis tools, and many more features, Binance has secured its spot as one of the best crypto exchanges.
Binance offers a wide variety of products, including spot, margin, futures, and options trading, staking, lending, P2P, automated bot trading, copy trading, and even an NFT marketplace. It is safe to say that crypto geeks will find everything they are looking for on Binance.
The trading fees on Binance are very affordable. Binance charges 0.1% trading fees on the spot market (makers and takers alike), which is the industry standard. Where Binance excels is the futures market with fees of only 0.02% for makers and 0.05% for takers.
2. Rain
Users:
1m
Free Demo:
Mobile App:
Bonus:
None
Cryptos:
50+
Leverage:
Not Supported
Spot Fees:
0.2%/0.25%
Futures Fees:
Not Supported
Pros
- Licensed and regulated in UAE
- Strong security
- Very user-friendly
- OTC and Business services available
Cons
- Lacks advanced features
- Relatively high trading fees
- No Demo trading offered
- Only 50 cryptocurrencies
Rain Overview
Rain is a cryptocurrency exchange primarily serving the Middle East and North Africa (MENA) region. It supports a variety of popular assets such as Bitcoin, Ethereum, and Ripple, with over 50 cryptocurrencies available for trading. The platform is known for its regulatory compliance, being fully licensed by the Central Bank of Bahrain, which enhances its credibility and security.
Rain offers competitive spot trading fees, with a 0.25% taker fee and a 0.2% maker fee. It also provides over-the-counter (OTC) services for large-volume traders. While it doesn’t offer leverage trading, it caters to both retail and institutional users with a user-friendly interface and mobile app. Majorpros include Rain’s strong security measures, including cold storage and two-factor authentication, as well as its commitment to regulatory transparency.
The platform is fully regulated in the Middle East and licensed by the Central Bank of Bahrain, making Rain one of the most reliable options for traders from the UAE.
3. BitOasis
Users:
1M
Free Demo:
Mobile App:
Bonus:
Upto AED 100
Cryptos:
75+
Leverage:
Not Supported
Spot Fees:
0.40%/0.60%
Futures Fees:
Not Supported
Pros
- Simple and easy to use platform
- Advanced trading analytics
- Caters to Middle East clients with tailored services
- Users can deposit funds without fees
Cons
- No futures trading available
- Limited customer support
- Holds users' private keys, posing risks
BitOasis Overview
BitOasis stands as a leading cryptocurrency exchange in the Middle East, serving over 1 million users with access to more than 75 digital assets. The platform charges spot trading fees of 0.40% for makers and 0.60% for takers, positioning itself within the mid-range fee structure of regional exchanges.
The platform offers spot trading capabilities with advanced trading analytics, providing essential tools for market analysis. Users benefit from fee-free deposits and a promotional AED 100 bonus for new registrations. The exchange maintains mandatory KYC procedures, aligning with regional regulatory requirements.
Notable limitations include the absence of futures trading options and restricted customer support channels. A significant consideration is that BitOasis retains control of users’ private keys, which introduces potential security risks typical of centralized exchanges.
The mobile application supports trading on-the-go, though the platform does not offer demo accounts for practice trading. While BitOasis specifically targets Middle Eastern users, its features remain basic compared to global exchanges, focusing primarily on spot trading functionalities.
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. 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.
Is Crypto Legal and Regulated in Jordan?
Cryptocurrency trading operates within a specific legal framework in Jordan. The Central Bank of Jordan (CBJ) maintains oversight of digital asset activities, though it has issued warnings about cryptocurrency risks. In 2014, the CBJ prohibited banks from dealing directly with cryptocurrencies, but trading between individuals remains legal.
The Securities Commission of Jordan maintains oversight of financial markets but hasn’t established specific cryptocurrency regulations. Licensed money exchangers and financial institutions must follow strict Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols when handling any financial transactions, including those potentially related to cryptocurrency.
In recent developments, the Jordan Securities Commission (JSC) has started monitoring cryptocurrency activities more closely. While there’s no licensing framework for cryptocurrency exchanges, the JSC requires financial service providers to implement robust compliance programs. The regulatory landscape continues to evolve, with authorities focusing on preventing financial crimes while acknowledging the growing interest in digital assets among Jordanian investors.
Is Crypto Taxable in Jordan?
The Jordanian Income Tax Department has not issued specific guidelines for cryptocurrency taxation. However, profits from cryptocurrency trading may fall under capital gains or income tax regulations, depending on the nature and frequency of transactions. The standard income tax rates in Jordan range from 5% to 30% for individuals.
For frequent traders, cryptocurrency profits might be classified as business income, subject to progressive tax rates. Occasional traders might fall under capital gains taxation. The lack of clear cryptocurrency tax guidelines creates uncertainty, but general taxation principles apply to crypto-related income.
Key tax considerations for Jordanian crypto investors include:
- Trading profits may be subject to income tax rates between 5% and 30%
- Mining income could be classified as self-employment income
- Crypto-to-crypto transactions might trigger taxable events
- International exchange usage may require additional reporting
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 Jordan.
How to Buy Crypto in Jordan
Purchasing cryptocurrency in Jordan requires following specific steps to ensure compliance with local regulations. Binance provides a reliable platform for Jordanian residents to begin their cryptocurrency investment journey.
- Choose a Crypto Exchange: Ensure the platform accepts JOD and complies with local regulations.
- Register an Account: Provide identification documents for KYC verification.
- Deposit Funds: Use bank transfers or credit cards to add JOD to your account.
- Select Cryptocurrencies: Pick from well-known options such as Bitcoin, Ethereum, or USDT.
- Execute Trades: Execute market or limit orders according to your trading strategy.
- Ensure Security: Move your assets to a personal wallet for added protection.
Best Crypto Wallets in Jordan
Ensuring secure storage is crucial for cryptocurrency investors in Jordan. Hardware wallets offer the highest level of security for long-term storage, while software wallets provide ease of use for everyday transactions.
Hardware Wallets: Perfect for securely storing assets over the long term due to their high level of protection.
- Ledger: Produces the Nano S Plus and Nano X devices, supporting over 5,500 cryptocurrencies, offering offline storage with secure chip technology and backup recovery options. The Nano X also includes Bluetooth connectivity for mobile management.
- Trezor: Offers the Model One and Model T hardware wallets, compatible with more than 1,800 digital assets. The Model T features a touchscreen interface and advanced security protocols, including password management capabilities.
Mobile Wallets: Excellent for frequent transactions and effortless access.
- Trust Wallet: The ideal mobile solution with Arabic language support, a built-in DApp browser, and compatibility with multiple blockchain networks. This wallet allows for direct cryptocurrency purchases and includes staking options for proof-of-stake assets.
- Exodus: Offers a comprehensive desktop experience with built-in exchange features, supporting over 250 cryptocurrencies, detailed portfolio tracking, 24/7 customer support, and smooth integration with Trezor hardware wallets.
Desktop Wallets: Ideal for managing smaller sums and engaging in regular trading.
- MetaMask: Serves as the primary gateway for interactions with Ethereum and EVM-compatible blockchains, allowing access to decentralized exchanges, NFT marketplaces, and DeFi protocols, supporting custom RPC networks and token imports.
Security Considerations:
For optimal security in Jordan, implement a multi-wallet strategy: utilize hardware wallets for long-term storage, mobile wallets for daily transactions, and specialized wallets like MetaMask for DeFi participation. Enable two-factor authentication when available and maintain secure backups of recovery phrases in offline locations.
Bottom Line
For Jordanian investors seeking the best crypto exchanges in Jordan, Binance stands out with its extensive feature set and reliable JOD support. Rain provides a strong regional alternative with dedicated local banking integration and excellent customer service. When selecting an exchange, consider factors such as payment methods, trading fees, and security features. Remember to always transfer significant holdings to a secure wallet and stay informed about local regulations and tax implications.
