Summary
Yemen’s cryptocurrency landscape operates in a legal grey area, with no explicit regulations governing digital assets. The Central Bank of Yemen has not issued official guidelines for crypto trading, creating a unique environment for digital asset transactions. Popular payment methods include international wire transfers and cryptocurrency deposits, though direct YER support is limited. Here are the best crypto exchanges in Yemen:
- Binance – Extensive trading pairs, high liquidity, and advanced trading tools
- MEXC – Advanced trading features, competitive fees, and extensive cryptocurrency selection
- Bybit – User-friendly platform with strong security and derivatives trading
- BingX – Innovative trading tools, social trading features, and modern interface
- Kraken – Established platform with advanced security and fiat options
Best Crypto Exchanges in Yemen
Cryptocurrency trading in Yemen requires careful consideration of exchange features, security measures, and payment methods. While the Yemeni Rial (YER) has limited direct support on major platforms, traders can utilize international payment options and cryptocurrency deposits. This guide examines the top cryptocurrency exchanges accessible to Yemeni residents, focusing on security, fees, and trading features.
The cryptocurrency market in Yemen has evolved despite regulatory uncertainties, with global exchanges offering services to local traders through various payment channels. Each platform provides unique features and security measures to facilitate safe trading.
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. 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. 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.
4. BingX
Users:
23m
Free Demo:
Mobile App:
Bonus
$6,200
Cryptos:
840+
Leverage:
125x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.06%
Pros
- No KYC required
- 800+ assets (even stocks and forex)
- Up to 200x leverage
- Fiat supported
- Advanced order types
Cons
- Not available in the US
- No bot trading
- Traditional markets are B-Book
Overview
Founded in 2018, BingX is a derivatives exchange based in Singapore. The exchange has risen to global standards and now has offices in other major regions such as the EU, Canada, Hong Kong, and others. BingX currently boasts a user base of 10 million registered customers worldwide and is present in over 100 countries.
With an easy-to-navigate platform, BingX offers users 800+ cryptocurrencies, stocks, and forex to trade, with a smooth interface for trading spot or futures. BingX currently has a daily trading volume of $489 million for spot and $7 billion for futures.
Users of BingX can trade with flexibility and benefit from sophisticated trading tools such as order books, charts, and market data.
Trading fees on BingX are very affordable, starting at 0.02% and 0.05% maker and taker for futures trading, and 0.1% maker and taker for spot trading.
5. 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.
Is Crypto Legal and Regulated in Yemen?
Cryptocurrency operates in an unregulated space in Yemen. The Central Bank of Yemen (CBY) has not established specific regulations for cryptocurrency trading or ownership. While this means crypto trading is not explicitly illegal, it also means traders operate without regulatory protection.
The CBY issued a general warning about cryptocurrency risks in 2018, advising citizens to exercise caution when dealing with digital assets. However, no formal ban or restriction exists on cryptocurrency trading. The absence of clear regulations means that cryptocurrency transactions fall outside the traditional financial system oversight.
Financial institutions in Yemen must comply with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations, which indirectly affect cryptocurrency operations when interfacing with traditional banking systems. The Yemen Financial Information Unit monitors suspicious transactions, including those potentially involving cryptocurrencies.
Local financial institutions maintain cautious positions regarding cryptocurrency transactions, often requiring additional documentation for transfers related to digital asset trading. This regulatory environment creates unique challenges for Yemen-based traders seeking to connect traditional banking services with cryptocurrency operations.
Is Crypto Taxable in Yemen?
Yemen’s tax framework for cryptocurrency remains undefined. The Yemen Tax Authority has not issued specific guidelines for cryptocurrency taxation. Traditional income tax rates in Yemen range from 10% to 20%, but their application to cryptocurrency gains remains unclear.
Capital gains in Yemen are typically taxed at 20% for residents. However, the classification of cryptocurrency gains under existing tax laws lacks clarity. International transactions may be subject to additional scrutiny under Yemen’s foreign exchange regulations.
The absence of specific cryptocurrency tax guidelines creates uncertainty for traders and investors. While traditional investment gains must be reported, the mechanism for declaring cryptocurrency profits remains undefined. This situation requires careful consideration of general tax principles and international transaction requirements.
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 Yemen.
How to Buy Crypto in Yemen
Binance provides the most comprehensive cryptocurrency trading services for Yemen residents. The platform offers multiple payment methods and maintains high security standards for digital asset trading.
- Choose a Cryptocurrency Exchange
- Confirm platform access in Yemen
- Review accepted payment methods
- Examine KYC requirements
- Check platform security features
- Compare trading fees and limits
- Complete Registration and Verification
- Submit necessary identification documents
- Complete address verification
- Activate two-factor authentication
- Verify phone number and email
- Review security settings for your account
- Fund Your Account
- Use international wire transfers
- Deposit cryptocurrencies
- Explore peer-to-peer (P2P) trading options
- Make purchases with a credit card
- Utilize third-party payment processors
- Select Cryptocurrency
- Bitcoin (BTC)
- Ethereum (ETH)
- Tether (USDT)
- Binance Coin (BNB)
- USD Coin (USDC)
- Place a Trade
- Choose a trading pair
- Specify order type and price
- Review and approve transaction
- Monitor the status of the order
- Confirm trade completion
- Ensure Secure Storage
- Transfer funds to a private wallet
- Activate additional security measures
- Keep a backup of recovery phrases
- Conduct regular security checks
- Keep wallet software up-to-date
Best Crypto Wallets in Yemen
Securing cryptocurrency assets requires dependable wallet options. Hardware wallets provide the highest level of security for long-term storage, while software wallets are ideal for everyday transactions.
Ledger offers top-tier hardware wallets equipped with advanced security measures and extensive cryptocurrency compatibility. The Ledger Nano X and S models offer offline storage with backup capabilities and Bluetooth connectivity.
Trezor hardware wallets boast intuitive interfaces and support various cryptocurrencies. The Model T features a touchscreen for enhanced security and direct control over assets. Both Trezor models work seamlessly with desktop apps for streamlined management.
For mobile users, Trust Wallet offers a secure solution with an integrated DApp browser and staking options. MetaMask serves as a go-to wallet for Ethereum and ERC-20 tokens, with extensive DeFi functionality.
Exodus provides a versatile desktop solution featuring built-in exchange tools, portfolio tracking, and support for numerous assets. The platform ensures enhanced protection through regular security updates and backup options.
Bottom Line
The best crypto exchanges in Yemen provide reliable trading services despite regulatory uncertainty. Binance leads with comprehensive features and strong security measures, while MEXC offers competitive fees and extensive cryptocurrency options. These platforms maintain consistent service quality and support multiple payment methods for Yemen-based traders, ensuring secure and efficient digital asset transactions.
