I used to be a bitcoin bull—here’s why that changed
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Everything between Dogecoin, Planning to invest in bitcoin heres why you need to be careful and NEM are all still an opportunity for users to hedge their bets, though options for Malaysians to buy can be limited.
Just keep in mind how volatile these cryptocurrencies usually are—more volatile than Bitcoin even, which relies on its founding ideology to drive more stability. Bitcoin was born out of the financial crisis ofwhich drove demand for currency that is not controlled by a central authority. It aims to fix the problem by capping the maximum number of Bitcoins that can ever be in circulation and the rate new Bitcoins can be produced.
Before you make any serious purchases, read up about cryptocurrency wallets and how to secure them. Try to stick to officially endorsed wallets, and be careful of malware pretending to be wallets. Do bear this in mind before you commit your money to any wallets. We think a good rule of thumb is to only buy cryptocurrency with money you can afford to lose. The list below is curated based on platforms that have a substantial presence in Malaysia, either through good reputation, or those who are run by Malaysians, as far as we can find.
Luno allows you to trade Ringgit with cryptocurrency directly. This Singaporean app is planning to invest in bitcoin heres why you need to be careful the most trusted Bitcoin platforms in Malaysia, and for good reason. However, you can only deposit cash using bank transfers in Malaysia. Coinhako is a beginner-friendly exchange that also offers a secure wallet on top of its services.
Payments can be done cheapest using bank transfers from Malaysian accounts, though there is the option for Xfers wallet transfers or Telegraphic transfers. XBit Asia charges a 0. This exchange also provides what is said to be a pretty secure wallet, and deposits are free too. They want to place a priority on security, as well as fast processing services. As a fun little extra, XBit Asia offers a merchant service which allows online shops to accept Bitcoin. Transactions that go through the platform are run through its Escrow system to protect both parties.
This peer-to-peer exchange platform is special because it also accepts Litecoin and Dogecoin. As one of the newer players in Malaysia, you should expect certain glitches or issues with the site. Read about how to trade on Coinexy here. Remitano is another popular player in Malaysia. Similar to LocalBitcoins, Remitano works on a decentralised peer-to-peer system using Escrow for user protection.
Logging your identity into the platform is recommended, but not required. Unlike LocalBitcoins however, Remitano has a system to point out its more trustworthy users by marking them as frequent buyers. Instead of tapping some buttons and getting cash, you instead put cash into the machine and get Bitcoins in your wallet.
While Bitcoin is generally traded against USD, do note that other types of currencies, like Ripple or Dogecoin, are usually traded against Bitcoin. This makes these currencies highly volatile, even more so than Bitcoin.
You can find out why here. Here is a list of currencies that you can trade on Poloniexand their values. Poloniex can seem a little dodgy because most of the brains behind the platform are kept secret. It also receives the largest amount of traffic in the crypto-exchange industry.
It is one of the go-to places for serious crypto traders seeking new coins to trade in, partly because of its highly detailed charts and good data analysis tools.
Here is a list of currencies that you can trade on Bittrexand their values. Only launched inthis USA-based company touts a secure platform with a multi-stage wallet strategy. It tries to keep one step ahead, seeing itself as the next generation cryptocurrency trading. One of its strong points is also a consistent trading fee at 0. Shapeshift and Changelly are coin conversion tools. They can be used for similar purposes as well. However, they do have less selections, and generally charge higher fees.
Type and hit enter to search Search. Now is one of the best times to own Bitcoin—but only if you bought it last year. With enough smarts and research, you might also still benefit from buying Bitcoin even today.
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