If you’re wondering where you can buy Bitcoin in Malaysia, you’ve come to the right place! In this post, I’ll be sorting out a few channel to buy Bitcoin at Malaysia with the best rate (Closest to market price!) There are also few things you should know before proceeding to buy your first Bitcoin, a lot of people has reported losing money by falling into the scam of fraudsters! Without further ado, let’s start our list of where Bitcoin can be bought!
malaysia bitcoin exchange
Luno is the only reputable exchange platform I’ve been using for the past few years, its former name was BitX. Although they positioned themselves as an exchange, It wasn’t really meant for traders to do day trading or even swing trading, simply because lacking the liquidity and market depth, but it is a good place to buy Bitcoin! Do take note they charge 1% fees for market taker, but no fees for the market maker, learn more about their fees here. Luno also provides basic wallet features, although I recommend using a wallet that you control the seed.
Website: Malaysia Bitcoin Exchange – Luno
There are a few more new exchanges out there, but I wouldn’t recommend anything I’ve not used before. (Please do your own due-diligence.)
Malaysia Bitcoin otc platform
OTC (over-the-counter) works differently from exchange, they do not match the bid/ask automatically, instead users can list their offer of buy or sell, then the counterparty can choose to accept your offer, then the deal happens directly between users, the platform usually just act as public listing like craigslist, but with escrow services.
LocalBitcoins is the largest Bitcoin OTC platform in the world, it wasn’t really hard to use their website to buy or sell your Bitcoin, there are no fees for you to buy or sell from the available offer, which means you get what you see (rate). The price spread is usually higher compared to Luno, due to the advertiser has to pay 1% fees from the escrow service. Do take note that most people only deal with the verified user, which you can do that by submitting your ID document.
Website: LocalBitcoins Malaysia
Similar to LocalBitcoins, Remitano is a newer platform of Bitcoin OTC exchange. They used to have lower fees than LocalBitcoins, but they seem to raise their fees to the same as LocalBitcoins now. One good thing about Remitano is they have a better notification system, so both parties will be notified easily when one made a transaction or accepted an offer.
Website: Remitano Malaysia
buying from an individual
Of course, you can also buy Bitcoin from another individual who wanted to sell! Sometimes you even get a better deal than buying from the exchange or OTC platforms! Although, you need to understand the risk that you could fall into the trap of fraudsters and lose your money! Most of the individual trader can be found from social or messaging groups, such as Facebook, WhatsApp, and Telegram.
One Telegram group I personally use is Crypto*Trade 2.0
Again, trading between individual is a relatively high risk, do make sure the one your trade with is reputable!