Egypt has a growing crypto community despite cautious signals from regulators. The Central Bank of Egypt has historically warned against crypto but has gradually softened its stance as the country builds out its fintech strategy. Peer-to-peer trading is how most Egyptians buy and sell crypto due to banking restrictions. Binance is the go-to platform, with an estimated 3 million Egyptian users.
**How Fees Compare**
Binance P2P charges zero maker fees for EGP trading pairs, making it the most cost-effective entry point. OKX offers similar P2P pricing with a broader DeFi ecosystem. Bybit is popular among Egyptian derivatives traders at 0.02-0.06% futures fees. KuCoin charges 0.1% for spot trading with discounts for KCS token holders. MEXC attracts speculative traders who want early access to newly listed tokens.
**Staying Safe as a Trader in Egypt**
- Stick to well-established global platforms and avoid unregulated local apps
- Be cautious of WhatsApp and Facebook groups promoting crypto investment schemes
- Enable two-factor authentication using Google Authenticator, not SMS. SIM swap fraud is a real risk
- For holdings above 50,000 EGP, consider moving funds to a hardware wallet
- Keep detailed transaction records. Even though Egypt does not have specific crypto tax rules yet, regulations could apply retroactively
**What Sets These Exchanges Apart**
Binance offers full Arabic-language support, a comprehensive learning academy, and Launchpad access for new token launches. OKX provides a powerful Web3 wallet for participating in DeFi protocols. Bybit features copy trading that allows beginners to mirror the strategies of experienced traders. KuCoin offers automated trading bots for passive strategies. MEXC tends to list trending tokens earlier than most other exchanges.
**What You Need to Know About Taxes**
Egypt does not currently have a specific crypto tax framework, but the government has indicated it plans to address this. Crypto income may already fall under existing capital gains tax rules at 10%. Traders should keep records in case of future regulation that applies retroactively. Business-level crypto activities may be subject to corporate income tax.
Crypto Regulations in Egypt
The Central Bank of Egypt (CBE) oversees financial regulation and has historically cautioned against crypto. However, Egypt is developing fintech legislation that may include crypto provisions. The Financial Regulatory Authority (FRA) is studying digital asset frameworks. No specific crypto licensing exists yet, but KYC/AML rules apply to financial transactions. Egypt's fintech strategy 2025-2030 includes blockchain considerations.
Frequently Asked Questions
Is crypto legal in Egypt?
Crypto trading is not explicitly prohibited in Egypt but lacks formal regulation. The CBE has cautioned against crypto while the government develops fintech legislation.
What is the best way to buy crypto in Egypt?
P2P trading on Binance is the most popular method for EGP-to-crypto conversion, with zero maker fees and multiple payment options including Instapay and bank transfer.
Do I pay tax on crypto in Egypt?
Egypt lacks a specific crypto tax framework. Gains may fall under existing capital gains rules (10%). Traders should maintain records as the government studies digital asset taxation.
Can I use an Egyptian bank account for crypto?
Direct bank-to-exchange deposits are limited. Most Egyptian traders use P2P platforms on Binance or OKX to convert EGP to crypto via bank transfer or Instapay.
Is Binance safe for Egyptian users?
Yes. Binance is the most widely used platform in Egypt with Arabic support, strong security, and active P2P EGP markets with high liquidity.