Rain | Business24-7

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Written by Braden Chase Edited by Giles Thomas Fact Checked by Tomislav Turcin

7 March 2023

2 March 2023

Page Summary

Rain is a leading crypto exchange in the Middle East to trade in local currencies. It lets users buy Bitcoin in the UAE and Saudi Arabia. Rain is Sharia-compliant, making it a secure crypto exchange. The Rain crypto exchange is a top choice for traders at all levels.

Review Summary: 

Rain is the leading crypto exchange for buying Bitcoin and other digital coins.
It offers a high limit and liquidity.
It is available in the UAE, Saudi Arabia, Bahrain, Kuwait, and Oman.

Rain Overview:

The Rain exchange operates from Bahrain. It is available in many countries in the Middle East. This exchange offers fiat currencies, including the US dollar. Rain has an excellent reputation, and it is Sharia-compliant. It is a top choice for traders to buy and sell cryptocurrency in the Middle East.

Trading Experience

Rain offers a trustworthy and beginner-friendly web platform. It has an intuitive interface with access to helpful cryptocurrency trading tools. The Rain crypto exchange is convenient and provides a clear view of your crypto assets. If you’re searching for a secure cryptocurrency exchange Rain is a good fit for you.

Cryptocurrencies Available 

Rain is a powerful crypto exchange with access to many digital coins. Traders buy and sell:

Bitcoin
Ethereum
Ripple
Litecoin

This crypto exchange supports many fiat currencies. The supported fiat currencies are:

Bahraini Dinar
Kuwaiti Dinar
Saudi Riyal
UAE Dirham
Omani Rial
US Dollar

Fees 

The Rain cryptocurrency exchange has an average fee structure. Rain account holders have a 1.5% fee on all transactions made with a bank account. Debit or credit card funding has a 4% fee. This exchange offers free deposits and free fiat currency withdrawals in Bahrain. Bank account transfers outside of Bahrain have a 50 SAR flat fee.

Regulation & Reputation 

Rain is a trustworthy exchange with a license from the Central Bank of Bahrain. It stores up to 98% of client funds in multi-signature cold wallets. The Rain app encourages all its account holders to use two-factor authentication. Read our in-depth reviews to learn more about exchanges and safety.

Account Opening 

Account opening at the Rain crypto exchange is simple. Users have to follow the following steps:

Access Rain’s homepage and click on Open A Personal Account.
Enter an email address and a phone number.
Verify the email address and phone number.
Complete identity verification and submit proof of address and identity.
Wait for your account to pass verification.
After approval, add a payment method and start buying and selling digital coins.

Customer Support 

Rain has excellent customer support. Its team is knowledgeable and answers all queries on time. Rain offers live chat with an average response time of 5 minutes. This exchange has an extensive help center with detailed information on online cryptocurrency trading.

Summary 

Rain is the leading crypto exchange in the Middle East to buy and sell Bitcoin. It is a secure trading platform with top-tier licenses and access to bank accounts transfers. We recommend Rain to traders at all levels based in the UAE, Saudi Arabia, Bahrain, Kuwait, and Oman. It offers excellent services in local currencies to buy and sell cryptocurrency.

FAQ

What Is A Centralized Cryptocurrency Exchange?

A centralized crypto exchange is a private company offering crypto trading platforms. These exchanges request registration and identification, known as the Know Your Client rule.

What Is A Decentralized Crypto Exchange?

A decentralized exchange doesn’t have a central point of control. It functions as a server and has each computer within the network spread worldwide. If one device shuts down, it doesn’t interfere with the network’s activity. If you opt for a decentralized exchange, you should learn about the risks linked with it. Read our in-depth reviews to learn more about exchanges and safety.

How To Buy Crypto In The Middle East?

Traders located in the Middle East receive access to many options to buy cryptocurrency. The best and most secure method is using a debit card. Reliable exchanges accept Visa and MasterCard. Another convenient way to buy digital assets in the Middle East is a credit card. Read our in-depth reviews to learn more on how to buy crypto.

Is Rain A Good Fit For Beginners?

Rain is a popular crypto exchange to buy Bitcoin in the UAE and Dubai. It offers a straightforward interface and excellent security features. We recommend it for both beginners and advanced traders.

Does Rain Offer Services For Institutional Investors?

Rain offers OTC trading and custody services to high-net-worth clients and businesses. To access this type of account, you have to click on Institutional Registration on Rain’s homepage.

Does Rain Allow Account Holders Convert Between Cryptocurrencies?

No. Rain doesn’t let its customers convert between digital coins. Traders receive access to secure accounts to buy Bitcoin and altcoins with fiat and sell them back to fiat.

Disclaimer

Braden Chase

Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

Rain Review