Bitcoin in Iraq is the spiritual father of cryptocurrency, with its origins dating back to 2009 when it was introduced by an anonymous individual who still goes by the name “Satoshi Nakamoto.” Since then, Bitcoin has risen strongly in the financial arena, facing various sanctions and complete rejection from governments and central banks worldwide, as it threatens the existence of the current complex financial system.
Bitcoin reached its peak when its price surpassed $20,000 at the end of 2019. Since then, the world has started to take serious steps in regulating Bitcoin and cryptocurrencies in general. Governments around the world have gradually recognized Bitcoin, and large companies have begun accepting Bitcoin payments.
How to Open Your Own Bitcoin in Iraq Account
You can easily open your own Bitcoin account (Bitcoin wallet) to buy and sell Bitcoin effortlessly through global trading platforms. If you are a fan of gambling on various sites, you can now deposit and withdraw using Bitcoin as a secure and fast payment method in online casinos.
Additionally, you can buy Bitcoin locally by searching for brokers in your country or city and contacting them to get the best price for Bitcoin. You can then transfer it directly to your wallet. This is a method that beginners in the cryptocurrency world may not know about, but it is highly effective through the site LocalBitcoins.com. However, you must be very cautious to avoid falling into scams.
How to buy Bitcoin in Iraq?
- You can purchase Bitcoin either through global trading platforms by creating an electronic Bitcoin wallet, or locally by finding a local broker and exchanging fiat currency for Bitcoin to your electronic wallet.
- Additionally, you can purchase Bitcoin through global banks by requesting a Bitcoin card via Visa, which you can use for purchases just like regular bank cards.
Deposits and withdrawals using cryptocurrencies in Iraq
It has become very easy now, after most countries and global companies have recognized Bitcoin as an official currency. Many global banks have partnered with Visa and issued Bitcoin cards, which allow you to withdraw and deposit just like bank cards.
Where to buy Bitcoin in Iraq in 2025?
- Coinbase: The best overall.
- Robinhood: The best in terms of cost.
- Binance: The best for a variety of cryptocurrencies to trade.
- Coinbase Pro: The best for professional traders.
Bitcoin in the Arab World
At the beginning of Bitcoin’s appearance, most governments in the Arab world did not recognize it and officially declared that Bitcoin was not recognized as a legal currency. However, over time and with the growing dominance of cryptocurrencies in the financial sector, Arab governments began to reconsider how to regulate Bitcoin as an official currency in their countries.
The United Arab Emirates, particularly Dubai, took the lead in this regard, announcing that Dubai would be the first city in the world to officially recognize Bitcoin as a legal currency. Bitcoin would be accepted as a payment method in various government sectors and institutions within the country.
It is expected that other Arab cities and countries will follow suit, given the growing popularity of cryptocurrencies in general and their increasing dominance in the financial sector, along with the global shift towards digital currencies.
Cryptocurrencies in Iraq
Cryptocurrency trading platforms have become widespread, offering easy access to buying and trading digital currencies. You can create your own Bitcoin in Iraq wallet and start buying and selling your Bitcoin. Additionally, you can use Bitcoin to make purchases online.