We are excited to announce that Sinbad, the non custodial wallet that connects people with P2P vendors, is coming to Egypt on September 15th!

After our success in Lebanon, we are ready to bring our simple crypto experience to the vibrant market of Egypt.

What is Sinbad?

Sinbad is the first non custodial wallet designed for the middle east and Africa. Sinbad enables users to easily buy and sell USDT, Bitcoin, and more using local payment methods through our express P2P marketplace.

Why Egypt?

As the most populous country in the Middle East with over 112 million people as of 2022, Egypt faces significant challenges with hyperinflation and fluctuating exchange rates. Many Egyptians struggle with the dual exchange rate system—the official bank rate and the black market rate—making it difficult to preserve wealth in Egyptian pounds.

Egypt ranks 7th in the MENA region for crypto trading volume, with projected revenue in the cryptocurrency market expected to reach $712.7 million in 2024. Despite the broader decline in NFT activity since mid-2022, Egypt is still the second-highest country in the region for web traffic to NFT platforms, according to Chainalysis.

This is an exciting opportunity for anyone interested in crypto in Egypt.

Egypt’s Future Growth Potential

Our data and interviews show that the region embraces crypto for various reasons. In countries with unstable currencies or inflation, crypto is a way to safeguard wealth. In more economically stable countries like Egypt, users may be more inclined to explore investment-focused, cutting-edge use cases.

Frequent Asked Questions

It’s pretty exciting if you happen to be into crypto but you probably have a few questions before you sign up. So here how it works:

Can I buy and sell cryptocurrency with Sinbad?

Yes, you can now buy and sell Bitcoin and Ethereum, Solana and other assets with Sinbad Invest.

How to signup on Sinbad?

All you need is a Sinbad account and since Sinbad is non custodial, it lives on your own address on the blockchain. To start buying and selling crypto, just head to the Invest page.

I’m ready to start, but what exactly is cryptocurrency?

Cryptocurrency is a digital asset that operates outside of any government control. Popular cryptocurrencies like Bitcoin and Ethereum derive their value from how much people are willing to pay for them on the open market, similar to stocks.

While you don’t need to understand the intricacies of Bitcoin mining or blockchain technology, it’s important to know what you’re investing in. That’s true for any investment, whether it’s stocks or real estate.

So, you must think crypto is a good investment, right?

Our advice is to diversify with a low-cost portfolio that tracks the market. However, we’ve created Sinbad Invest as a simple, efficient, and secure way to buy and sell cryptocurrency because it’s something our users are interested in.

There are many reasons to buy crypto—whether it’s the technology, the hype, or as a hedge against traditional currencies. We don’t take a stance, but we do provide a no-commission way to buy crypto once you’ve made your decision.

How do I know my cryptocurrency is safe?

Sinbad is a non-custodial wallet, so your assets remain under your control at all times but this also comes with a risk. Read more here on owning your money on Sinbad.

How do I know I’m getting a good price?

We work with a market maker who sources prices across multiple exchanges to get you a low price. This is crucial because, unlike stocks, cryptocurrencies are listed on multiple exchanges. Shopping across them ensures you get the best price.

OK that all sounds great. But you guys are software people. What’s cool about this software?

First, it’s designed to be simple. You don’t need to be an expert in cryptocurrency or blockchain to use this platform. It’s geared toward anyone who’s interested in learning more or dipping their toes into crypto trading. And doing it in a secure way. It’s all incredibly clear, simple, and yes, comes with no commission.