How To Buy Bitcoin in Malaysia?
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Easiest and cheapest ways to buy crypto in Malaysia
No matter where they live, people always seek the easiest and cheapest way to buy bitcoin. Buying crypto in Malaysia is a bit harder than in some other countries so we have compiled a list of exchanges where Malaysians can buy bitcoin.
Luno
Ease of Use – Medium Fees – Average Verification – 2-3 days Reputation – Trusted Supported fiat – EUR, IDR, MYR, NGN, ZAR, ZMW
Previously known as BitX, Luno was founded in 2013 in South Africa.
More info +
Deposit fees:
Fees vary by currency Withdrawal fees:
Fees vary by payment method Trading fees:
0.20% Payment Methods:
Bank Transfer (SEPA), Credit Card, Debit Card, Cash Electronic Funds Transfer, Interbank GIRO, Interbank Funds Transfer Supported fiat:
EUR, IDR, MYR, NGN, ZAR, ZMW
Beginner-friendly crypto trading
Offers interest on crypto savings
Secure storage
Not available for U.S. customers
Small selection of cryptocurrencies
Deposit fees:
EUR SEPA Deposit (Free) – EEA countries only USD Bank Wire Deposit ($5 USD) – US onlyEUR Bank Wire Deposit (€10) – outside the US only USD Bank Wire Deposit ($10 USD) – outside US onlyJPY Bank deposit (Free, ¥5,000 deposit minimum) – Japan-only USD, Wire Deposit (Free) Withdrawal fees:
Cryptocurrency: Fees vary, SEPA Withdrawal (€0.09) – EEA countries only USD Bank Wire Withdrawal ($5 USD) – US only USD Bank Wire Withdrawal ($60 USD) – outside US onlyEUR Bank Wire Withdrawal (€60) – outside US onlyJPY Bank withdrawal (¥20) – Japan onlyCAD EFT Withdrawal ($10 CAD) Trading fees:
Maker: 0.16%Taker: 0.28% Payment Methods:
Fedwire, Bank Transfer (SEPA), SWIFT, Wire Transfer, Etana Custody, Silvergate Exchange Network (SEN), FPS, CHAPS, and BACS, PayID, Osko Supported fiat:
USD, EUR, GBP, JPY, CAD
Available almost worldwide
Longevity on the crypto market – highly respected exchange
Over 90 cryptocurrencies
Advanced trading and staking services
Fees are fairly high compared to its main competitors
No derivates or futures trading
Cex.io
Ease of Use – Easy Fees – High Verification – 1 Day Reputation – Trusted Supported fiat – USD, EUR, GBP, RUB
Cex.io is considered one of the oldest exchanges in the crypto world. It was launched in 2013. It started as a Bitcoin exchange and cloud mining provider, but today it is a global multi-functional crypto platform with over 4 million users.
More info +
Deposit fees:
0 – 3.99 % Withdrawal fees:
0 – 3 % Trading fees:
0 – 0.25 % Payment Methods:
Credit Card, Bank transfer, ACH, Epay, Skrill, SEPA, Faster Payments Supported fiat:
USD, EUR, GBP, RUB
Reputation is high
Longevity on the crypto market
Over 4 million users
Advanced features such as spot trading, margin trading, staking as a service, crypto loans, and savings accounts
Extensive Verification Process to Increase Purchasing Limits
Best Bitcoin Wallets in Malaysia
It is never a good idea to keep your coins on an exchange as that exposes you to numerous risks (exchange hacks, fund freezes by the exchange or some government regulatory body etc). That is why you should use one of the wallets we list below to store your digital assets. Safest option is a hardware wallet like Nano X but ZenGo is also a good choice, especially for newcomers.
ZenGo is an easy iOS/Android Bitcoin & cryptocurrency wallet. Getting started takes less than 20 seconds.
extremely safe as it uses biometrics for security
you can buy crypto directly from it
has savings and staking account
No major flaws
Electrum is one of the oldest and most popular desktop multi-currency wallets which is compatible with Windows, Mac, and Linux
One of the oldest wallets in the market
you can buy and stake directly from the wallet
supports all major coins and blockchains
Not completely open source
Ledger Nano X is a leading and most secure cold storage wallet that connects to your device via Bluetooth.
Safest wallet in the market
competitive price
supports a lot of coins
you can buy directly from the wallet
stake directly from the wallet
Small display
complicated to setup for newbies
Read also:
- How To Buy Bitcoin in Canada?
- How To Buy Bitcoin in Nigeria?
- How To Buy Bitcoin in Singapore?
- How To Buy Bitcoin in Japan?
Deposit fees:
Changelly does not have set fees due to the volatility of cryptocurrencies Withdrawal fees:
None Trading fees:
0.25% Payment Methods:
Debit Card, Credit Card Supported fiat:
USD, EUR, GBP
Wide range of cryptocurrencies
Low crypto-to-crypto exchange fees
Easy to use
Not regulated in the U.S.
High fiat-to-crypto rates
Limited payment options
KuCoin
Ease of Use – Easy Fees – Low Verification – 1 day Reputation – Trusted Supported fiat – USD, EUR, GBP, AUD, CAD + 20 more
With more than 10 million users and over 6 billion in daily trading volume, KuCoin is rightly in the top 5 crypto exchanges in the world. KuCoin is headquartered in Singapore and is also known as “The People’s Exchange.” KuCoin offers 500+ cryptocurrencies that you can buy, sell, and trade.
More info +
Deposit fees:
Free Withdrawal fees:
0 – 16$ (average) Trading fees:
0 – 0.1 % Payment Methods:
Debit and Credit card, Apple and Google Pay Supported fiat:
USD, EUR, GBP, AUD, CAD + 20 more
180+ countries supported
Over 10 million users worldwide
Mobile app available for iOS and Android
Wide range of cryptocurrencies available
Low fees
Many additional features
Just 4 payment methods
Hacked in 2020
Paxful
Ease of Use – Easy Fees – Average Verification – 1 Day Reputation – Trusted Supported fiat – USD, EUR, GBP, CAD, AUD + more
Founded back in 2015, with its headquarters in New York, United States, a cryptocurrency exchange platform Paxful offers its services to nearly 5 million users around the globe.
More info +
Deposit fees:
Free Withdrawal fees:
0.5% – 5% Trading fees:
No buyer fee, seller fee varies from 0.5% to 5% Payment Methods:
Over 350 payment methods are available Supported fiat:
USD, EUR, GBP, CAD, AUD, and many more
Safe Escrow trading
Various payment methods
Responsive support forum
Support for a large number of fiat currencies
A bit higher fees
A lot of scammers
Frequently asked questions about buying Bitcoin in Malaysia
Bitcoin is not recognized as legal tender in Malaysia. The Central Bank does not regulate the operations of Bitcoin. The public is therefore advised to be cautious of the risks associated with the usage of such digital currency.
Our recommendation is Paxful since it offers an incredible number of payment methods – over 350.
Luno Malaysia Sdn. Bhd. (Registration No. 201501011592 (1136927-A)) is licensed as a Recognized Market Operator (Digital Asset Exchange) by the Securities Commission Malaysia.
Luno is an independent operating subsidiary of Digital Currency Group. Digital Currency Group’s mission is to accelerate the development of a better financial system.
The Sharia Advisory Council branch of Malaysia’s security commission has advised that trading and investing in cryptocurrencies is permissible. This means that digital currencies can also be used to make zakat payments.
Luno makes it safe and easy to store, buy, use and learn about digital currencies like Bitcoin. Luno makes it safe and easy to store, buy, use and learn about digital currencies like Bitcoin.
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