How to Use Binance in Saudi Arabia – Step-by-Step for New Traders

Buying and selling cryptocurrencies is becoming an exciting avenue for Saudi Arabian nationals looking to explore digital finances. Of the most dependable and widely used trading platforms is Binance. You’re reading this page if you’re new in this area and wonder how to proceed securely and with confidence. Follow here a guide that will take you through everything you’ll require to use Binance in Saudi Arabia.
Let’s begin and set you on the path to trading with ease and clarity.

What Is Binance?

This is one of the leading cryptocurrency exchanges globally, with a well-liked interface, varied coins supported, and solid security. Regardless of whether you are looking to purchase, sell, exchange, or simply hold cryptocurrency, which this has it covered.
For Saudi Arabian citizens, Binance offers an easy way to tap into digital assets without being outside local regulations.

Step 1: Check Local Regulations

Before proceeding, it’s best to know the legal situation. Saudi Arabia is open to trading in cryptocurrencies, but it urges people to practice caution. So far, no limitations have been placed on making use of websites such as Binance for private trading.
Stay updated with the Saudi Central Bank (SAMA) and the Capital Market Authority (CMA) announcements so that you always deal as per the rules. Information is your best friend in this pursuit.

Read also: How to Start Crypto Trading in Saudi Arabia: A Simple Beginner’s Guide

Step 2: Create a Binance Account

1. Official Website
   Go to Binance.com make sure you are on the correct page in order to avoid phishing.
2. Sign Up

• Click Register.
• Choose to sign up with your email address or phone number.
• Choose a safe password (use letters, numbers, and special characters).

3. Confirm Your Email or Phone
You will receive a code by email or SMS. Use it to confirm your account.

Step 3: Complete Identity Verification (KYC)

In order to match global standards and secure users, it compels you to finish your KYC (Know Your Customer), which is the process of verifying your identity.
What You Will Need:
• A Saudi National ID or a Passport
• A smartphone or webcam to use for scanning your face with facial recognition
Steps:
• Log in to your account.
• Press Verify.
• Upload clear pictures of the ID document.
• Complete the face recognition process.
Approval typically is between a few minutes or a few hours.

Step 4: Secure Your Account

Security is paramount when dealing with digital assets. There are several security options at Binance.
Enable These Settings:
• Two-Factor Authentication (2FA): Link your account to Google Authenticator or get SMS codes.
• Anti-Phishing Code: Activate a personalized code that will appear in all authentic Binance emails.
• Withdrawal Whitelist: Limit withdrawals only to authorized wallet addresses.
These are the steps that will keep your assets safe from any future attacks.

Step 5: Deposit Funds Into Your Binance Account

To start trading, you need to deposit funds.
Ways to Deposit:

1. Bank Transfer (via P2P Trading)
2. Credit/Debit Card Purchases
3. Third-Party Payment Gateways (if available)
   Note: Direct bank transfers from Saudi bank accounts to Binance are limited as of yet. The most common method is Peer-to-Peer (P2P) trading.

Also read: Why More Saudis Are Turning to Cryptocurrency in 2025

Step 6: Using Binance P2P to Buy Crypto in Saudi Arabia

P2P buying allows you to buy crypto directly from individuals, in SAR (Saudi Riyal).
Steps:
• Go to Trade > P2P on Binance.
• Choose Buy and click on the currency you want to buy (e.g., Bitcoin, USDT).
• Choose currency as SAR.
• Search sellers based on ratings, payment options, and prices.
• Click Buy.
• Pay according to the seller’s instructions (e.g., bank transfer).
• Mark as Paid and wait for the release of the crypto to your account by the seller.
Binance secures the transaction through the deposit of the seller’s cryptocurrency in escrow until payment is confirmed.

Step 7: Start Trading on Binance Spot Market

Once you have crypto in your wallet, you can start to trade.
How to access the Spot Market:
• Click on Trade > Spot.
• Enter a trading pair (e.g., BTC/USDT).
• Input your order type:
Limit Order: Enter a specific price at which to buy/sell.
Market Order: Buy/sell immediately at market price.
Stop-Limit Order: Set a stop price to automatically sell/buy.

Step 8: Understanding Binance Fees

Binance is charging some of the lowest trading fees in the industry:

• Spot trading fee: 0.1% per trade (can be reduced by using BNB token).
• P2P trading: No fees to buyers.
  There are also small withdrawal fees, varying based on the cryptocurrency.
  Monitor the fee system under the Fee Schedule tab on Binance to strategically plan your trades.

Step 9: Withdraw Funds to Your Bank

After profits have been made or you want to get cash, money can be withdrawn.
How to Withdraw:

• Exchange your crypto to SAR via P2P.
• Transfer the SAR to your bank account by the payment mode agreed upon in the P2P transaction.
  Always ensure you are trading with trusted users to get a smooth process.

Step 10: Keep Learning and Growing

Success in crypto trading doesn’t come overnight. It’s a learning process.
Learning Materials on Binance:
• Binance Academy: Free tutorials, courses, and quizzes.
• Market Insights: Keep yourself up-to-date with the latest trends.
• Community Forums: Learn from other traders and engage through posts.
Spend time each week learning new tricks and observing market behavior.

Bonus Tips for Saudi Traders

• Remain Wary: Invest only what you can afford to lose. Cryptocurrency markets are unpredictable.
• Diversify: Do not invest all your money in one asset.
• Set Goals: Determine your goals for trading short-term gains, long-term investment, or portfolio diversification.
• Utilize Trading Tools: Binance offers trading tools like stop-losses and take-profits to manage risk automatically.
• Be Ethical: Trade honestly and transparently, keeping promises especially in P2P transactions.

Common Questions About Binance in Saudi Arabia

Is Binance legal in Saudi Arabia?
Yes, individuals can trade on Binance personally, although it’s best to monitor evolving regulations.
Can I deposit SAR directly to Binance?
Direct SAR deposits are not an option right now. P2P trading is the most widely used method.
Is P2P safe?
Yes, Binance has an escrow system and buyer protection but always trade with extremely high-rated sellers.
Do I need to pay taxes on crypto gains?
Currently, Saudi Arabia does not tax individual gains on cryptocurrencies. However, staying abreast of future changes is wise.

CONCLUSION

Starting your crypto trading journey with Binance in Saudi Arabia is more than likely with the right steps and attitude. By starting with a safe account, verifying your identity, becoming familiar with P2P trading, and establishing solid trading habits, you’re setting yourself up for long-term success.
Always remember that patience, continuous learning, and prudent risk management are the keys to success in the crypto world. The more you invest in knowledge and experience, the firmer your ground will be.
Your trading experience isn’t just about making money it’s also about growing in confidence, responsibility, and wisdom. Do it step by step, and a rewarding experience awaits you!