Egypt Crypto Transfer Risk Calculator
Calculate Your Risk
This tool estimates potential fines and risks based on current Egyptian crypto regulations. Remember: Transferring crypto out of Egypt is illegal and carries severe penalties.
Results
Based on current regulations under Law No. 194 of 2020
Potential Fine:
EGP 0
(Up to EGP 10 million or $213,000 USD)
Traditional Remittance Cost:
EGP 0
(8%+ fees for Western Union/MoneyGram)
Crypto Transfer Cost:
EGP 0
(1.5-3% fees)
Transferring cryptocurrency out of Egypt isn’t just risky-it’s illegal. Despite growing numbers of Egyptians using crypto to protect their savings from inflation and currency collapse, the law doesn’t recognize it. The Central Bank of Egypt (CBE) has banned all cryptocurrency activities since 2020 under Law No. 194, and as of November 2025, no licenses have been issued. That means any cross-border crypto transfer-whether to the UAE, Turkey, or the U.S.-is technically a criminal act.
What the Law Actually Says
Law No. 194 of 2020 doesn’t just warn against crypto. It bans it. The law explicitly prohibits issuing, trading, promoting, or operating any cryptocurrency without CBE approval. Since no approvals have ever been granted, every crypto transaction in Egypt falls under this ban. This includes buying Bitcoin on Binance, sending Ethereum to a foreign wallet, or using P2P platforms like LocalBitcoins to cash out. Even if you’re not running a business, just holding or sending crypto across borders counts as illegal trading under Egyptian law.The penalties aren’t theoretical. Violations can lead to imprisonment and fines up to EGP 10 million-roughly $213,000 USD. That’s not a small fine. That’s enough to wipe out a middle-class family’s life savings. In May 2024, the CBE shut down three unlicensed crypto exchanges and fined them a combined EGP 27 million. Those weren’t foreign companies-they were local platforms Egyptians trusted.
Why People Still Do It
If it’s illegal and dangerous, why are an estimated 4.2 million Egyptians using crypto? The answer is simple: survival.Egypt’s inflation hit 33.7% in October 2025. The Egyptian pound has lost 68% of its value against the U.S. dollar since 2020. Salaries don’t keep up. Savings vanish. Traditional banks won’t let you move money out easily, and remittance fees through Western Union or MoneyGram can cost over 8%. Crypto cuts that to 1.5-3%. For many, it’s not a choice-it’s the only way to send money to family abroad or protect what little they have.
According to the World Bank, crypto now makes up 5.7% of all remittances into Egypt. That’s billions of dollars flowing outside the official system. People aren’t gambling. They’re protecting their livelihoods.
How People Are Doing It (And What Goes Wrong)
Most users rely on non-KYC wallets like Samourai or Wasabi, and peer-to-peer platforms like Binance P2P. They avoid exchanges that require ID verification. Some use Monero for better privacy. Many set up separate phones, use Tor or VPNs, and communicate only through encrypted apps like Signal.But it’s not foolproof. In August 2025, one Egyptian lost EGP 185,000 ($3,930) after sending crypto through an unlicensed P2P broker. The platform vanished overnight. Authorities didn’t recover the funds. No one was held accountable.
Another user on Trustpilot admitted to using fake ID details to complete a Binance P2P transfer to the UAE. They got the crypto through-but the review was rated 2.8/5. “It worked,” they wrote, “but I’m terrified they’ll come after me.”
ISP monitoring is getting worse. As of Q3 2025, 78% of crypto-related websites were blocked by Egyptian internet providers. Even accessing a crypto forum can trigger alerts. Authorities have started using basic blockchain analysis tools since 2023. They can trace transactions-even if you think you’re anonymous.
The Religious and Cultural Barrier
This isn’t just a legal issue. It’s a religious one.Dar al-Ifta, Egypt’s top Islamic authority, declared cryptocurrency transactions ḥarām-forbidden under Sharia law. Their stance hasn’t changed since 2018, and they reaffirmed it in September 2025. For many Egyptians, especially outside major cities, this matters more than any government law. Using crypto isn’t just risky-it’s seen as morally wrong by a large portion of the population.
This dual barrier-legal and religious-makes it nearly impossible for the government to legalize crypto without triggering social backlash. Even if they wanted to, they’re stuck.
Is There Any Hope for Change?
There are signs the government is starting to pay attention. The CBE created a Fintech and Innovation Unit in March 2024 and has held closed-door talks with international regulators. The IMF acknowledged in October 2025 that Egypt “recognizes the need for a digital asset framework.” Law No. 6 of 2025, aimed at helping small businesses, didn’t touch crypto-but it showed the government is open to financial modernization.Still, experts are divided. Some believe Egypt could legalize crypto within 2-3 years. Others say it could take 5-7, if ever. The religious opposition is too strong. The CBE is too entrenched. And the public fear of punishment is too real.
For now, the system remains broken: illegal but unavoidable. A ban that can’t be enforced fully, and a population that refuses to give up.
What Happens If You Get Caught?
If Egyptian authorities track your crypto activity-through bank records, ISP logs, or wallet analysis-you could face:- Arrest and interrogation by the Financial Regulatory Authority
- Freezing of your bank accounts
- Confiscation of devices used for crypto transactions
- Criminal charges under Law No. 194 of 2020
- Fines up to EGP 10 million (over $200,000)
- Potential jail time, even for first-time offenders
There are no public cases of individuals being jailed for small personal transfers-but there’s no guarantee you’ll be the exception. The law doesn’t distinguish between a day trader and someone sending $500 to their sister in Jordan.
What You Should Know Before Trying
If you’re considering a cross-border crypto transfer from Egypt:- Assume you’re being watched. Your ISP, your bank, and possibly your phone provider are monitoring activity.
- Never use your main device or email for crypto. Use a burner phone with a new number.
- Use non-KYC wallets. Avoid Binance, Kraken, or Coinbase for direct transfers-use P2P only.
- Never link your crypto wallet to your real identity. No real name, no real address.
- Understand that even if you succeed, you’re breaking the law. There’s no safety net.
- Don’t trust anyone online. Scams are rampant. Many “guides” are honeypots.
There’s no safe way. Only less dangerous ways.
The Bigger Picture
Egypt’s crypto ban isn’t about control. It’s about fear. Fear of losing monetary authority. Fear of religious backlash. Fear of a population that’s already moved on.But laws don’t stop economics. People in Cairo, Alexandria, and Aswan are using crypto because they have no other choice. They’re not criminals. They’re just trying to survive.
The real question isn’t whether Egypt will ban crypto. It’s whether Egypt will ever catch up to its people.
Is it illegal to own Bitcoin in Egypt?
Yes. While owning crypto isn’t explicitly mentioned in the law, the Central Bank of Egypt defines any unlicensed trading or promotion as illegal. Since holding crypto with intent to transfer, sell, or use it as value is considered trading, ownership is treated as an illegal activity under Law No. 194 of 2020. There is no legal distinction between holding and trading-both fall under the same prohibition.
Can I use Binance from Egypt?
Technically, no. Binance is not licensed in Egypt, and using it violates Law No. 194 of 2020. However, many Egyptians still use Binance P2P to trade with individuals using Egyptian pounds. This is done through peer-to-peer deals, often with fake ID details. While it works for some, it’s illegal and risky. Binance has no legal obligation to protect you, and authorities can trace your activity if they choose to investigate.
What happens if I send crypto to a friend in the UAE?
Sending crypto to someone abroad is considered a cross-border transfer, which falls under the definition of illegal trading under Egyptian law. You’re not breaking UAE laws by receiving it, but you are breaking Egyptian law by sending it. Authorities can trace the transaction on the blockchain. If they investigate your bank account, phone, or ISP records, you could face fines, account freezes, or criminal charges-even if the recipient is a family member.
Are there any legal crypto exchanges in Egypt?
No. As of November 2025, the Central Bank of Egypt has not issued a single license for any cryptocurrency exchange, wallet provider, or trading platform. All exchanges operating in Egypt-whether local or international-are doing so illegally. There is no legal way to buy, sell, or trade crypto within the country.
Can the government track my crypto transactions?
Yes. Egyptian authorities have acquired basic blockchain analysis tools since 2023. They can trace transactions on public blockchains like Bitcoin and Ethereum. If you use a KYC exchange, your identity is already linked. Even with non-KYC wallets, patterns in transaction timing, amounts, and wallet addresses can be linked to your bank transfers or IP address. ISPs are also monitoring and blocking crypto-related websites, which helps authorities identify users.
Why hasn’t Egypt legalized crypto yet?
Two main reasons: religion and control. Dar al-Ifta, Egypt’s top Islamic authority, has declared crypto forbidden under Sharia law. Reversing that would cause major public backlash. At the same time, the Central Bank fears losing control over monetary policy if people start using crypto instead of the Egyptian pound. Until the government finds a way to manage both the religious opposition and its own authority, legalization is unlikely.
Crypto isn't illegal if you're just holding it. The law targets trading and promotion, not passive ownership. But good luck explaining that to a cop with a checklist.
I’ve seen families in Lucknow do the same with remittances-using crypto because Western Union takes 12% and takes 3 days. No one’s talking about how this is a survival tool, not a gamble. The real crime is the currency collapse, not the workaround.