248am logo

How to invest in bitcoins while living in Kuwait.

asked Nov 29, 2017 in Personal by Paul
With all the fuzz going on with bitcoins, what do you think about investing in bitcoins or light coin.
How can I buy crypto currencies if I'm living in Kuwait.
Any help would be appreciated.

Your answer

Your name to display (optional):
Privacy: Your email address will only be used for sending these notifications.
Anti-spam verification:
To avoid this verification in future, please log in or register.

7 Answers

answered Nov 30, 2017 by anonymous
I'm using https://bitoasis.net/

all their dealings are with AED.

they only deal with Bitcoin and Ethereum.
commented Nov 30, 2017 by Paul (720 points)
thanks, will give it a try.
answered Nov 30, 2017 by anonymous
Don't!   its a bubble and anyone investing in bitcoin will get fucked up the ass extremely hard.
answered Nov 30, 2017 by TKG
The easiest way is to buy through https://bitfils.com locally.

Mark covered this back in January 2015: http://248am.com/mark/geek/bitfils-easiest-way-buy-bitcoins-kuwait/

There is risk involved with buying bitcoin as it is going up but there is no regulations so if it falls then it falls bad.

Obviously if you bought it back in the beginning of 2013 at $ 23, you would be sitting with a lot of money right about now. A friend of mine bought 600 bitcoins for like KD 3,300 and currently they are valued at KD 1.8M.  The catch is keeping them safe from being hacked.

On another note, have you thought about mining bitcoins? That maybe an alternative route.
commented Nov 30, 2017 by Paul (720 points)
mining looks interesting, I'm not sure if I can purchase the needed hardware without any issues with customs. Will it be illegal to set up a mining hardware here?
commented Nov 30, 2017 by anonymous
People are using graphics cards for mining. Doubt that's illegal, but you need like a HUGE setup to benefit from mining.
answered Nov 30, 2017 by anonymous
Please don't unless you are filthy rich who doesn't care about money.
answered Nov 30, 2017 by anonymous
i wouldn'tinvest. youre supposed to buy low not high (it wouldve been a good idea two years ago though)
answered Nov 30, 2017 by anonymous
Like a lot of people mentioned, it's kind of too late to invest now. The prices are extremely high, and then you have the problem of turning your earnings into real money. And if I'm not wrong, recently the Central Bank of Kuwait announced that dealing with bitcoin is not allowed.
commented Nov 30, 2017 by Paul (720 points)
Yeah, I was thinking the same. it's kinda too late to invest, should have done it a few years ago.
answered Nov 30, 2017 by anonymous
You should also be aware of emerging new crypto currencies. Some of them turn out to be scams.
Welcome to Kuwestions where you can ask anything relating to Kuwait and receive answers from other members of the community.