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You’re here to learn how to buy Bitcoin in Malaysia.
That’s where Bitpremier comes in.
We’ve done the research, and here’s what we’ve found.
The five best Bitcoin exchanges in Malaysia are:
After reading this guide, you’ll know the best Bitcoin exchange in Malaysia to make your first purchase!
Luno is one of the most popular Bitcoin and cryptocurrency exchanges, and for good reason. It allows for the buying and selling of Bitcoin and Ethereum against several fiat currencies including MYR (Malaysian Ringgit).
Luno's fees are extremely low compared to the competition, with a 0%-1% trading fee that scales based on trading volume.
The more you trade on Luno, the lower the fees. Out of all the exchanges that allow users to buy Bitcoin in Malaysia, Luno's are the cheapest.
Luno also has the highest limits available, when full account verification is achieved. After full verification, users are able to purchase 300,000 MYR worth of Bitcoin.
Overall, Luno is a reliable option for anyone trying to purchase cryptocurrency. Their user interface isn't as intuitive as some of the other options, but once you learn how to use it, it might just be the best option on this list.Visit Luno Read Review
Coinmama is another beginner-friendly cryptocurrency brokerage that focuses on credit and debit card purchases. They offer instant delivery and sell Bitcoin, Ethereum, Ripple, Litecoin, and more to 46 US States, and most countries.
Coinmama doesn’t provide its users with a wallet on the exchange. Instead, users are asked to provide a wallet address to send the purchased cryptocurrency to. As long as you have your own wallet, this shouldn’t be an issue!
Coinmama charges a fee of around 5% for credit and debit purchases with instant delivery and high purchasing limits of a max of $5,000 daily, and $20,000 monthly.
Click here to see a step by step guide on how to purchase Bitcoin on Coinmama.Visit Coinmama Read Review
Just like Coinbase, Bitpanda has a very simple user interface, making it easy for beginners to successfully purchase in cryptocurrency.
The exchange has several payment methods such as bank transfers, credit cards, debit cards, Skrill, Neteller and more. Depending on which method is used, there may be differing deposit fees.
When it comes time to transact on the exchange, Bitpanda charges 1.49% for buys, and 1.29% on sells making them an extremely competitive option.
Headquartered in London, UK, CEX.io offers security, high liquidity, and cross-platform trading. They support an extremely wide array of countries making them available to most people.
CEX.io appears to have little no fees at first glance. They are able to do this by charging a premium on the Bitcoin price. We estimate this comes in around a 7% premium on average.
When it comes to purchasing limits, it really depends on your accounts verification tier. The first level has daily deposits of $500 and $100 withdrawals while the highest tier has unlimited in each category. Payment methods include cards, bank transfers, and more.Visit CEX.io Read Review
LocalBitcoins offers a highly trustworthy escrow service and peer-to-peer (P2P) exchange. Due to the nature of the exchange, it's available in pretty much every country.
On the exchange, users to trade among themselves. Due to the nature of the transactions on the exchange, there is a resolution and feedback system.
It also allows users to post a quick buy or quick sell ad on the exchange platform. It is one of the best cryptocurrency exchanges for peer to peer trading.
LocalBitcoins is one of the better exchanges for users concerned with their privacy. Bitcoin can be purchased in person without linking an identity to an exchange.Visit LocalBitcoins Read Review
At press time, from what we can gather, Malaysia does NOT take capital gains tax from Bitcoin and other cryptocurrencies.
As always, we recommend consulting a tax professional when it comes to cryptocurrency taxes.
Luno has 0%-1% trading fees depending on trading volume. Other exchanges have much higher fees or premiums, making them not optimal.
However, depending on which payment method you want to use, a different exchange other than Luno may be better.
Nope! The Malaysian government has been pretty friendly towards Bitcoin and other cryptocurrencies so far.
In a recent ruling, the Malaysian government has said they have no intention to ban the trading of Bitcoin.
Luno is one of the best exchanges and has its own app allowing the buying, selling and trading of Bitcoin.
Luno’s app is aesthetically pleasing and makes it easy for you to trade Bitcoin on the go.
Of the exchanges mentioned above, they are the only one with an app for iOS and Android.
In addition to trading, the app also offers a wallet, however, it is not recommended to leave cryptocurrency on exchanges.
Luno is a trustworthy exchange and hasn’t had any security issues on the app.
As always, use two-factor authentication to add an extra line of defense to your accounts.
Luno has limits of over 300,000 MYR a month once full verification is done. 300,000 MYR is around $74,000 USD, while Coinmama’s monthly limits are $20,000.
Thanks for reading our guide to buying Bitcoin in Malaysia!
To recap, the best exchanges for readers in Malaysia are: