Cryptocurrency trading is becoming quite popular in the Middle Eastern country of Jordan. This trend is led mostly by young men in a country where the general rate of unemployment is nearly 25 percent per year. They are turning towards cryptocurrencies as an additional source of income.
One thing of note here is that crypto trading is banned in Jordan and it may be difficult to access these digital currencies via conventional financial sources such as financial institutions or payment service providers.
Yet, several cryptocurrency exchanges offer their services in Jordan. We have here compiled a list of the best Bitcoin exchanges in Jordan to help you learn more about the various crypto exchanges in Jordan.
Note that this list is only for informational purposes and should not be taken as a substitute for professional financial advice.
7 Top Cryptocurrency Exchanges in Jordan
Coinbase
Coinbase is a comfortable platform for people new to crypto trading. Its strength is its simplicity and accessibility for people starting from scratch in the crypto world. With about 250 assets, it offers you plenty of choice for tradable assets.
However, this does not mean that Coinbase neglects the advanced trader demographic. On the Coinbase Pro platform, you can get access to several sophisticated charting and market tracking tools.
Apart from that, the Coinbase mobile app is great for on-the-go trading. It is available for both Android and iOS devices and you can use it for keeping track of your assets and investments from anywhere. You can also use the app to explore popular DApps like Galxe, OpenSea, and Magic Eden.
While Coinbase already uses cold storage for the majority of the user assets, you can also put your assets in the Coinbase Vault with time-delayed withdrawals for added security.
Features
250+ cryptocurrencies available
Second-largest crypto exchange in the world
Public company listed on NASDAQCold storage, Coinbase Vault for security
Pros and Cons
Decent crypto selection 
Higher fees on basic platform
Straightforward user interface Patchy customer service
Self-custody Coinbase wallet
Impressive tutorials on crypto trading
Trading Fees
Coinbase exchange trading fees
Customer Reviews
Coinbase is a fine exchange for crypto trading
Fees are often very high on Coinbase
Why We Picked It
Coinbase’s minimalist and straightforward UI makes it ideal for people still learning the ropes of crypto trading. For advanced traders, the Coinbase Pro platform is available with several advanced charting and analysis tools. The Coinbase Vault is also an excellent option to keep your funds.
Kraken
Kraken is one of the older cryptocurrency exchanges that are still in business. Since its inception more than a decade ago, it has grown by leaps and bounds and is now also the first crypto exchange to be approved as a Special Purpose Depository Institution(SPDI) in the USA.
On Kraken, you can check out 200+ cryptocurrencies for spot, margin and futures trading. In addition to that, Kraken also offers crypto indices, OTC and crypto staking services to users. You can explore flexible and bonded products and then choose something that suits your investment goals.
Kraken has a bug bounty program wherein people who report bugs are rewarded depending on the severity of the reported vulnerability. You can also turn on 2-factor authentication(2FA) and Global Settings Lock(GSL) for added security.
Features
Over 200 cryptocurrencies available
Basic and Pro platforms for users
Supports spot, margin and futures trades
2FA, GSL for security
Pros and Cons
Satisfactory coin collection for trading Expensive Instant Buy
Kraken Pro has lower fees Not the best for newbies
Assets with high APYs for staking
Active bug bounty program with rewards
Trading Fees
Kraken Instant Buy fees breakdown
Kraken Pro trading fees explained
Customer Reviews
Kraken has a fast and seamless withdrawal process
ID verification on Kraken can be lengthy and frustrating
Why We Picked It
Kraken supports several trading types and offers many investment options suitable for intermediate and advanced-level crypto traders. Its comprehensive collection of educational resources will further help you learn the ins and outs of crypto trading. Kraken also makes its proof-of-reserves report public to maintain a certain standard of transparency.
OKX
Seychelles-based exchange OKX’s strengths are its fast transaction speeds and robust APIs. It is quite a beginner-friendly platform with an easily navigable UI. In fact, you can just customize the layout to suit your needs if you use OKX’s pro platform.
OKX’s native blockchain is called OKX Chain which is powered by its native token OKB. There is also an OKX Wallet which is compatible with 40+ networks and can be used to explore DApps. Spot, margin, options trading and perpetual swaps all are supported on OKX. You can also check the Jumpstart mining initiative if you’re into farming DeFi tokens.
Features
400+ cryptocurrencies available for trading
Has its own OKX Chan and OKB token
OKX Wallet can be used with 40+ networks
Jumpstart mining initiative to farm DeFi tokens
Pros and Cons
Fees are not very high Fee structure is convoluted
Several payment types supported Unresponsive customer support
Rich resources for crypto
learning
Has demo trading mode
Trading Fees
Trading fees for OKX exchange
Customer Reviews
OKX is an easy and simple-to-use exchange
OKX’s customer support can be better
Why We Picked It
OKX supports several trading types so you can always choose something as per your liking. You can practice or test out your strategies in the demo trading mode before using them on the main platform. The advanced version of OKX even lets you customize the layout according to your liking. Plus, you can not only explore but also farm DeFi tokens here if you wish to.
Bybit
Bybit is a top cryptocurrency exchange with a range of interesting features and attractive offers for users. While its main focus is derivatives trading, Bybit has plenty to offer to spot traders as well including 280+ spot trading pairs.
Perpetual swapping is also popular on Bybit for which you can use USDC and USDT as collateral. USDC can also be used as collateral for inverse contracts and options contracts. Copy trading is also available on Bybit where you can copy the trading strategies of top traders without having to dive deep into understanding all the concepts and strategies first.
Bybit’s in-built native wallet can be used for exploring the world of Web3 and DApps. You also get personalized recommendations for investment tools on Bybit with the help of AI which analyzes your investment profile to come up with suggestions best suited to your profile.
Features
Platform for derivatives trading
280+ spot trading pairs available
Has biggest USDC Options marketplace
Supports copy trading for users
Pros and Cons
Fantastic user interface Trading stats reported are unverified
Inexpensive crypto trading
Demo trading feature
Native Bybit wallet
Trading Fees
Bybit exchange trading fees explained
Customer Reviews
Bybit has a great interface and interesting features
Bybit’s customer service can be unresponsive
Why We Picked It
Bybit is a fantastic exchange with a sleek interface that is easily navigable. It is particularly enticing for derivatives traders with its low fees. Bybit, however, also offers many other lucrative crypto-related products. This includes a Web3 wallet for exploring DApps and a Bybit card for making crypto payments.
KuCoin
KuCoin’s altcoin collection is simply unparalleled. At 700+ coins, it has one of the largest cryptocurrency selections out there. Traders who like to hunt for underrated gems or the next ‘big thing’ should definitely check out KuCoin. Available in 20+ languages including Arabic, it nurtures an interactive global community of crypto traders.
KuCoin also has trading bots that are generally used for automating trades. These can be used for automatically executing spot grids, dollar-cost averaging, futures and infinity grids and smart rebalancing.
One of the main attractions of KuCoin is its Halo wallet which acts as your gateway to Web3. With its social feed, you can follow certain wallets and keep track of their on-chain activities. You can also learn about the latest market trends through the Halo wallet.
Features
Over 700 cryptocurrencies available for trading
Supports multiple languages including Arabic
Halo wallet to access Web3
Native coin is called KuCoin Token(KCS)
Pros and Cons
Immense variety of cryptocurrencies System for determining
Trading fees lie on the lower end fees is complicated
Allows trading without KYC to an extent
Automatic trading via trading bots
Trading Fees
KuCoin exchange fees breakdown
Customer Reviews
KuCoin has a vast crypto collection for exploring
Bad customer service is a common complaint on KuCoin
Why We Picked It
KuCoin is heaven for people who love to check out new and underrated cryptocurrencies. Trading fees are quite low here and you can use the trading bots to automatically execute trades on your behalf. KuCoin also makes sure to implement all the relevant security measures. You can use its Halo wallet as a social wallet to keep up with the latest crypto market trends.
Crypto.com
Crypto.com is quite popular among traders who prefer to access their portfolios and trade cryptocurrencies from the comfort of their mobile phones. It is, therefore, no surprise that it is one of the fastest growing crypto trading apps.
On Crypto.com, you get access to a wide variety of over 250 cryptocurrencies including its native token Cronos(CRO). There are several staking opportunities on Crypto.com and in a win-win situation, you can also get discounts on the trading fees paid if you stake CRO. Plus, token deposits and crypto-to-crypto conversions are free here.
Crypto.com is not merely an exchange for trading cryptocurrencies. It offers a wallet that you can use to store your crypto assets, a prepaid Visa-backed card for crypto payments and supports an NFT marketplace. Crypto.com is a secure platform with multi-factor authentication(MFA) and address whitelisting for account security.
Features
Mainly concerned with app-based trading
More than 250 tradable cryptocurrencies
Enables crypto lending
Native coin is known as Cronos(CRO)
Pros and Cons
Wide range of coins Unimpressive learning material
Assets available for staking Bad customer service
Crypto.com wallet for storing assets
MFA, address whitelisting for security
Trading Fees
Crypto.com exchange trading fees
Customer Reviews
Crypto.com app has several great features
Withdrawals are often an issue on Crypto.com
Why We Picked It
The Crypto.com mobile app is a solid choice if you want an app with interesting features to trade crypto from your phone. It has a decent crypto coin collection and great APYs for staking assets. Plus, by staking CRO, you can avail of discounts on the trading fees on Crypto.com.
Gate.io
Gate.io is a cryptocurrency exchange known for its massive cryptocurrency collection. At over 1,400 coins, the variety on Gate.io is unparalleled. This exchange also supports around 20 fiat currencies which is much more than the average crypto exchange.
Gate.io supports spot, margin and derivatives trading and also features ETFs. It also has a strategy bot to automate your trades and increase profits. At the same time, copy trading enables you to copy the strategies of top traders and automatically execute them.
Gate.io also has an NFT marketplace where you can explore different types of NFTs, mint your own tokens and earn income via royalty on them.
Features
Over 1,400 digital assets available
Spot, margin, derivatives trading and ETFs available
Has an NFT marketplace
Native token is Gate Token(GT)
Pros and Cons
Giant coin collection Previous hacking incidents
20+ fiat currencies supported
Strategy bot for automating trades
NFT marketplace to explore and mint
tokens
Trading Fees
Gate.io fees explained
Customer Reviews
Users find buying and selling easy on Gate.io
Gate.io’s KYC process can be difficult
Why We Picked It
Gate.io is suitable for users who have some prior experience with crypto trading and want an exchange with a diverse coin collection. Users interested in NFTs can mint and sell tokens. It also supports copy trading where you can use the strategies of top traders for your trades.
3 Top Decentralized Exchanges in Jordan
UniSwap
UniSwap is the first name that comes up when talking about DEXs. Developed with the help of the Ethereum foundation and other venture capitalists, it is a DeFi platform that uses the Automated Market Maker(AMM) protocol for the core functions.
There are smart contracts that detail everything about the process of providing liquidity, creating liquidity pools and the standard method of swapping assets.
Since UniSwap runs on the Ethereum network, you can swap innumerable ERC-20 tokens on it. You can connect any major crypto wallet to the platform and just start trading. No KYC no other information needed.
On UniSwap, you pay fees depending on the nature of the pair being swapped. You may fall into any of the three categories- 0.05%, 0.30% and 1% depending on whether the pair you’re swapping is a ‘safer’ one or a more ‘wild’ pair.
Features
Runs on the Ethereum network
Has native token UNI
Three-tier fee structure
Open-source code
Pros and Cons
No KYC confirmation Coins are not vetted
needed Only cryptocurrencies accepted
Can trade ERC-20 tokens
Bug bounty program
Community governance by
UNI holders
Trading Fees
UniSwap fee tiers
Customer Reviews
UniSwap is one of the less risky DEXs
Gas fees can be very high on UniSwap
Why We Picked It
UniSwap is a popular and established DeFi platform that works with almost all major crypto wallets. You don’t need to give any of your personal information but just connect a Web3 wallet to start trading.
PancakeSwap
PancakeSwap, like the similar-sounding UniSwap, is a decentralized exchange where you can swap cryptocurrencies without needing to go through a registration and identity verification process. Connect any crypto wallet that is compatible with PancakeSwap and you can instantly start trading.
What majorly differentiates PancakeSwap from other similar platforms is its underlying blockchain. Most AMM-based decentralized exchanges run on Ethereum but PancakeSwap has been developed on the BNB Chain to avoid issues like network congestion and prohibitively high gas fees.
Further, since PancakeSwap is a non-custodial exchange, you never hand over assets to anyone and always retain control over your private keys. It has some unique products like lottery programs where you can win CAKE tokens and syrup pools to stake CAKE.
Features
Created on the BNB Chain
Employs the AMM protocol
Native token is known as CAKE
Uses multisig smart contracts for security
Pros and Cons
BEP-20 token swapping Limited ERC-20 tokens
Users retain custody of private keys BTC not available
Ingenuine product suite
Community governance
Trading Fees
PancakeSwap trading fees explained
Customer Reviews
PancakeSwap is a fine exchange liked by users
PancakeSwap may have a problem with low-quality tokens
Why We Picked It
PancakeSwap’s biggest advantage is that it does not face problems like slow transaction speeds and high gas fees common among Ethereum-based exchanges. Further, its v3 has introduced higher liquidity and more capital efficiency. The platform is also very open about the way trading fees are used and allocated.
Balancer
Balancer is also a decentralized platform for swapping ERC-20 tokens. However, its multi-token liquidity pools differentiate it from other similar exchanges. You can easily add upto 8 tokens in Balancer pools. These pools are also automatically rebalanced upon completing the token swap.
It also offers an automated portfolio manager for users. On Balancer, you can save on the gas fees by claiming digital assets from the contracts with its Merkle Orchard. It has both public and private pools which are programmable. While anyone can provide liquidity to a public pool, only the pool creator can deposit or withdraw assets in private pools.
Features
Developed on the Ethereum chain
Employs AMM system
Multi-token pools
Native token is called BAL
Pros and Cons
Customizable liquidity pools Possibility of impermanent loss
Can deposit several tokens in Prior experience with DeFi needed
one pool
Automated portfolio manager
Pools are automatically rebalanced
Trading Fees
Balancer fees explained
Why We Picked It
You can swap ERC-20 tokens and save on gas fees with Balancer. Its public and private pools are a great way to diversify your investment portfolio. These pools are programmable and you can change their parameters to suit your needs.
DODO
DODO is an Ethereum-based decentralized exchange that runs on the Proactive Market Maker(PMM) model. PMM helps it mimic human trading and provide better market prices with its oracles. It also offers more price stability by providing liquidity close to the market prices.
Further, you can list tokens pretty much for free at DODO via the Initial DODO Offerings(IDOs). Plus, there are no minimum deposit requirements if you wish to become a liquidity provider on the platform. You can also create your liquidity market and even conduct crowdpooling to do so.
Features
Developed on the Ethereum chain
Employs the PMM system
Oracles for better market prices
Utility token is DODO Coin
Pros and Cons
Price stability No fiat currency
Better liquidity
Anybody can create liquidity
market
Free listing of tokens
Trading Fees
DODO fees explained
Why We Picked It
DODO is free from the limitations of AMM-based DEXs such as impermanent loss. You have the freedom to start crowdpooling to create a liquidity market. It also has a more inclusive approach towards token listing via IDOs.
Is Cryptocurrency Legal in Jordan?
Jordan views cryptocurrencies unfavorably and has adopted a hostile attitude towards them. Cryptocurrencies have been prohibited in the country by the Central Bank of Jordan(CBJ). It has banned all banks, financial institutions and payment service providers from facilitating cryptocurrency transactions.
According to the CBJ, cryptocurrencies are not legal tender in Jordan and there are no real assets underlying the value of these digital currencies. It has also warned citizens about the risks of crypto trading due to the volatile nature of cryptocurrencies.
Jordanian authorities also cite the possibility of scams, frauds, hacking, theft and the misuse of cryptocurrencies for money laundering and terror financing as additional reasons for the ban. Despite this, there are no criminal statutes to penalize people dabbling in cryptocurrencies.
Conclusion
Cryptocurrencies are increasingly becoming popular in Jordan, especially among young traders. There are several cryptocurrency exchanges in Jordan catering to this demographic that is turning towards digital currencies as an additional source of income.
Still, you should keep in mind that crypto trading is a highly speculative venture and it is just as easy to lose your money as it is to make a profit. Add to that the ban on cryptocurrencies and the lack of legal protections for traders in Jordan and crypto trading becomes all the more risky.
Therefore, you should be clear about your investment goals and the implications of trading cryptocurrencies in Jordan before investing money in them.