Decided to buy Bitcoin in Malaysia and start your investment career? Good job! But are you well-aware of the facts and guide to buying bitcoin in Malaysia? If not, and want to start from scratch; here’s the easy guide to follow. Glad to know that you get the courage to play a greater role and be part of the financial revolution. So, let’s start the 5-min step-by-step guide on bitcoin buying in Malaysia.
Buying bitcoins in Malaysia is tough in the early days of cryptocurrency trading. However, the changeover has turned how people see crypto trading previously. And, the Government of Malaysia is no exception to that. Luckily, the Malaysian government has resolved the issues finally as well as make bitcoin and other cryptocurrencies available for the crypto traders. Above all, the government has put some guidelines into place to regulate the offering and trading of digital assets. It means Malaysian crypto traders can now opt for trading cryptocurrencies through approved bitcoin exchanges in Malaysia.
Few Ways to Buy Bitcoin in Malaysia Explained
Make sure you have the latest version of the bitcoin wallet before you go for buying bitcoin in Malaysia. Because it keeps your cryptocurrencies safe from cybercriminals. You can say crypto wallets are your digital wallet where you do everything from buying to exchange digital assets and cryptocurrencies safely without any error. Since cryptocurrency exchanges have been highly vulnerable to thefts and hackers, it’s risky to keep your digital currency safe using a free wallet on exchange sites.
Therefore, it’s always a good idea to start researching on your own before starting any investment on your hard-earned money. Doing so, it protects you from unnecessary scams and losses. Let’s not waste more time and head straight to the places where you can buy bitcoin in Malaysia online.
Buy Bitcoin in Malaysia Online from Trusted Sources
There can’t be a better way to buy bitcoin in Malaysia directly via bank transfer. This is where Luno hits the bullseye! Luno is a cryptocurrency exchange widely popular in Malaysia for buying, selling and trading ethereum and bitcoin in Malaysia. Approved by the Security Commissions as the recognized market operator for cryptocurrency trading in Malaysia, you can count on this cryptocurrency exchange to keep your funds and personal information safe. Besides its availability on the web, Luno is well-accessible to Android and iOS users; allowing them to buy, sell, and manage crypto on the go.
LocalBitcoins is a peer-to-peer escrow service that permits crypto traders to buy, sell, and trade cryptocurrencies directly with other crypto traders in 250+ countries. This ensures you get a safer and faster way to trade cryptocurrencies worldwide while sitting anywhere. LocalBitcoins doesn’t provide a fixed market price like Luno. In other words, you have to find a preferred seller to have a mutually satisfying agreement on price and terms. However, there are a lot of payment options you can choose to pay for your bitcoin tradings.
Similar to LocalBitcoins, Paxful is also a peer-to-peer marketplace for every Malaysian cryptocurrency trader. With its reliable escrow system in place, Paxful allows buyers and sellers to establish crypto trading with each other without worrying much about losing their funds. The best thing about Paxful is its wide range of payment options. Paxful supports above 350 popular payment options to support crypto buying in Malaysia. In addition, buying bitcoin in Malaysia on Paxful is free of cost. Paxful only charges customers for selling cryptocurrencies.
CoinSwitch is the best option to buy bitcoin in Malaysia for those willing to get cryptocurrencies using their debit/credit cards. If you are the guy that doesn’t want to deal with complicated bitcoin price chart, then CoinSwitch is the best option for you. Get your crypto exchanges done quickly and safely between 300+ cryptocurrencies at the best rate. CoinSwitch is currently accepting USD or EUR for buying bitcoins in Malaysia using credit cards. And thus, the user needs to pay additional bank charges for converting MYR to USD/EUR.
Most Trusted Ways So Far to Buy Bitcoin in Malaysia
Binance is one of the largest cryptocurrency exchanges in the world today. Growing from scratch to a billion-dollar crypto exchange site in just a year, it has the highest number of cryptocurrency trading volume. Today, Binance supports 100+ cryptocurrencies to trade all over the world from a single point of source. Though it’s one of the branded cryptocurrency exchanges, it doesn’t accept any fiat currency. Therefore, a cryptocurrency buyer has to either buy bitcoin in Malaysia using his/her debit/credit card or go for exchanging existing altcoins to buy bitcoins. Buying bitcoins using debit/credit card on Binance is pretty similar to the process in CoinSwitch. But going for exchanging altcoins has a process that every user has to follow.
- Register yourself to exchange altcoins into bitcoins using your email ID
- Once verified, deposit your cryptocurrency into your Binance account and start trading
If you want to buy/sell bitcoins in Malaysia anonymously and quickly, then forget about crypto exchanges and start using Bitcoin ATMs. Firstly, locate a nearby Bitcoin ATM and visit instantly. Insert cash to the Bitcoin ATM and instantly credit your crypto wallet to start trading. The only downside of Bitcoin ATMs is that it has a 7-12% higher transaction fee on buying/selling bitcoins. That’s the price a user pay for convenience and privacy.
You know exactly how to buy bitcoin in Malaysia using several trusted ways by now. So, don’t delay further and start your crypto trading career right away.
Have any questions? Feel free to comment!
You may also like to read:
- How to Start as a Bitcoin Investor?
- How to Mine Bitcoins?
- Steps to Follow before Launching a New Cryptocurrency