Best crypto exchanges in Kuala Lumpur
The best Cryptocurrency exchange in Kuala Lumpur - Bybit
Тop Cryptocurrency exchanges in Kuala Lumpur:
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Bybit - Prioritizes security; Maker fee: 0.02%, Taker fee: 0.02%; Offers over 100 coins
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Binance - Renowned for low fees; Maker fee: 0.10%, Taker fee: 0.10%; Offers 363 coins
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KuCoin - A popular broker in the market; Maker fee: 0.09%, Taker fee: 0.1%; Offers 3072 coins
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Huobi Global - Offers a wide range of payment methods; Maker fee: 0.02%, Taker fee: 0.04%; Offers 700 coins
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OKX - Emphasizes advanced technology; Maker fee: 0.06%, Taker fee: 0.08%; Offers over 350 coins
The focus of this article is on the leading crypto exchanges available in Kuala Lumpur. These exchanges are regulated under Malaysian laws, have operational offices in Malaysia, or cater to Malaysian clients. This ranking emphasizes platforms that adhere to the guidelines provided by Malaysian authorities
Top crypto exchanges in Kuala Lumpur
Below are the Best Crypto Broker For Beginners In Malaysia:
| Broker | Best For | Maker fee | Taker fee | Malaysian ringgit (MYR) support | Number of Supported Coins |
|---|---|---|---|---|---|
Security |
0.1000% |
0.1000% |
Yes |
over 100 |
|
Low fees |
0.10% |
0.10% |
N/A |
363 coins |
|
Popular broker |
0.09% |
0.1% |
Yes |
3072 |
|
Wide range of payment methods |
0.02% |
0.04% |
Yes |
700 |
|
Advanced technology |
0.06% |
0.08% |
Yes |
over 350 |
ByBit - prioritizes security
With its corporate headquarters in Singapore, Bybit is a well-known cryptocurrency exchange that works on a global scale. Due to its many features and user-friendly layout, Bybit has established a reputation as one of the finest cryptocurrency exchanges in Malaysia. Ben Zhou, a well-known figure in the cryptocurrency community, is the founder of Bybit. Over 400 digital assets, such as Bitcoin, Ethereum, and altcoins, can be traded on Bybit's reliable trading platform. Due to its 100x maximum trading leverage, it is a preferred choice for skilled traders seeking to maximize possible profits.
Other important elements that contribute to the exchange's top ranking are its robust security measures, vast selection of assets, round-the-clock customer service provided in Malaysian, and several MYR payment options. In addition to trading, Bybit provides a wide range of other features, such as crypto staking services, crypto loans, lending options, an NFT marketplace, a rewards center, and more. The platform places a high priority on security, transparency, and privacy, which makes it a solid option for investors from Malaysia. Due to its minimal trading fees, it is also considered to be among the cheapest cryptocurrency exchanges.
Binance - renowned for low fees
Due to its cutting-edge features, affordable fees, committed support team, security, and high liquidity, Binance is regarded as the finest cryptocurrency exchange for companies in Malaysia. Companies can trade with great volume and flexibility because to its trading characteristics. Its professional-grade trading platform is outfitted with cutting-edge technologies to meet the demands of both beginners and big investors. With its innovative methods, the exchange also places a high priority on security, winning over institutional clients' trust and confidence. More than 180 nations worldwide, including Malaysia, have laws and licences governing it. Malaysian investors can use Malaysian Ringgits to trade over 350 cryptocurrencies, stake over 30 tokens, and transact in hundreds of NFTs on Binance.
Binance also offers a wide variety of cryptocurrency trading alternatives and claims one of the most affordable crypto exchange fees at just 0.1%. Additionally, the platform offers a wide range of features, including spot, futures, leverage, options trading, staking services, and a decentralized exchange (DEX). The platform provides assistance to users 24/7 in a number of languages, including Bahasa Malaysia. In addition to its sophisticated security measures, Binance is bound by legal standards, provides a wide range of features, and maintains a reputation as one of the top cryptocurrency exchanges in Malaysia.
KuCoin - a popular broker in the market
It has made a name for itself as one of the most well-known platforms that provides crypto operations for Malaysians. KuCoin is an established leader in the digital currency industry. KuCoin is a sizable cryptocurrency exchange that allows users to buy, sell, and trade cryptocurrencies. The platform enables leverage, futures, and peer-to-peer trading in addition to standard trading choices. Users can also decide to lend or stake their cryptocurrency to gain incentives. KuCoin is an appealing alternative because it has affordable trading fees when compared to some of its rivals.
The platform provides access to a huge selection of more than 500 cryptocurrencies, including both well-known and uncommon coins. Due to its distinctive market positioning, affordable trading fees, and sophisticated trading features, KuCoin is a well-liked option among Malaysian traders. As a result, it has solidified its position as a strong competitor in the local market. The exchange provides a number of sophisticated trading capabilities, including numerous options for depositing Ringgits. With an emphasis on user privacy and strict compliance to regulations, KuCoin is dedicated to offering a secure and reliable trading experience. These important factors make KuCoin a reliable and trustworthy option for anyone seeking to enter the cryptocurrency industry from Malaysia.
Huobi Global - offers a wide range of payment methods
Huobi Global, a leading cryptocurrency exchange, is highly recognized in the Malaysian market. Founded in 2013, Huobi offers a comprehensive digital asset ecosystem for traders, encompassing spot and derivatives trading, staking, crypto loans, yield products, and more. While China's ban on fiat-crypto trading caused many exchanges to relocate, Huobi successfully navigated the crackdown, emerging as a top exchange in Malaysia. It boasts a sizable global presence and is favored by Malaysian investors seeking no-KYC trading options.
Huobi Global offers a diverse platform in Malaysia, supporting over 400 coins with advanced trading options like futures, staking, spot and margin trading, and loans. Notably, its Huobi Trading Bot enables bot trading for Malaysian traders. While it maintains a flat fee of 0.2%, users holding Huobi Token (HT) enjoy reduced trading costs based on their HT holdings. However, Huobi faces regulatory compliance challenges in Malaysia, and newcomers might find its extensive tools and features overwhelming.
OKX - emphasizes advanced technology
OKX is a well-known cryptocurrency derivative trading platform that provides traders in Malaysia with an extensive variety of services. It is recognized as one of Malaysia's best exchanges for stacking products. OKX stands out from its rivals due to its commitment to promoting the newest cryptocurrency innovations, including yield farming and DeFi tokens.
The platform gives users a variety of choices for staking their digital assets, including fixed and adjustable staking terms. In addition to staking, the exchange offers an NFT marketplace, a native cryptocurrency wallet, and a blockchain called the OKX Chain.
The platform also offers a large selection of cryptocurrencies, cutting-edge trading tools, and affordable trading costs. It enables a number of trading instruments, such as margin trading, futures, and options, giving institutional clients more flexibility and risk-control alternatives. In addition, OKX supports over 350 cryptocurrencies and offers affordable fees starting at 0.1%, making it a desirable choice for investors. The Malaysian crypto-savvy population prefers OKX because it offers a wide variety of cutting-edge financial goods, such as a DeFi hub and several staking alternatives, giving consumers many opportunities to increase their digital assets.
Is crypto safe in Kuala Lumpur?
Cryptocurrencies in Malaysia have a specific legal status. They are permitted, and their operations fall under the jurisdiction of the Securities Commission Malaysia. As per the Digital Assets Guideline, issued on 28 October 2020, several exchanges have been greenlit to offer cryptocurrency transactions in Malaysia. These approved exchanges include Luno, SINEGY, Tokenize, and MX Global. To mitigate potential risks when trading cryptocurrencies, traders should always rely on regulated platforms, stay informed, and adopt best security practices.
How to choose a crypto exchange in Kuala Lumpur?
When trading cryptocurrencies, the choice of an exchange is pivotal. It's similar to selecting a bank. The right choice can ensure smooth transactions, security, and ease of use, while a hasty decision might lead to a less-than-satisfactory experience. Many people ask: how to buy crypto in Malaysia? Before that, here are the key factors to consider to choosing the best crypto broker Malaysia
Jurisdiction. Before you begin, ascertain whether the exchange is licensed to operate in Kuala Lumpur or Malaysia at large. Exchanges adhere to the regulations of the countries they operate. An exchange's jurisdiction not only indicates its primary market but also reflects its compliance with local cryptocurrency rules
Ease of use. Cryptocurrency exchanges vary in complexity. While seasoned traders might prefer platforms with detailed charts and analytical tools, newcomers might find them overwhelming. Therefore, choose an exchange that aligns with your level of expertise. Some exchanges even offer both basic and advanced interfaces, catering to a wider audience. You may want a crypto broker for day trading; choose the one offering day trading
Liquidity. High liquidity implies that there's a significant volume of trade on the exchange, ensuring you can buy or sell assets without delays. In periods of market volatility, liquidity is even more crucial as it can prevent drastic price fluctuations
Asset choices. With thousands of cryptocurrencies available, no exchange can support them all. While most will support mainstream coins like Bitcoin and Ethereum, if you're looking to trade in less common cryptocurrencies, you'll need to be more discerning
Security. The crypto landscape has had its share of security breaches. Prioritize exchanges that have robust security measures in place. Remember, holding assets on an exchange requires trust. Research about their past incidents, if any, and their resolutions
Reputation. Just as you'd read reviews before trying out a new restaurant, it's wise to look into user feedback for crypto exchanges. Past and current users often provide insights that can help in making an informed decision
Trading fees. Transparency about fees is crucial. Some exchanges also offer discounted fees for users holding their native tokens, like Binance's BNB
Customer support. In a rapidly moving market, timely support is essential. Ensure the exchange is known for its responsiveness and effectiveness in addressing user concerns
Insurance. A few exchanges offer insurance on user funds, adding an extra layer of security. However, it's essential to understand the specifics of these policies
Tech infrastructure. A seamless trading experience requires robust technical infrastructure, especially during high trading volumes. This infrastructure not only ensures smooth order placements but also facilitates the introduction of new trading features
Where can I use crypto in Kuala Lumpur?
While cryptocurrencies are not recognized as legal tender in Malaysia, it does not mean their use is forbidden. Cryptocurrencies serve dual purposes in the country. They can be investment assets, or they can be exchanged for services or goods. However, their acceptance is contingent on individual businesses and service providers.
Is crypto a good investment in Kuala Lumpur?
👍 Pros
• Resilience. Cryptocurrencies operate on decentralized platforms, insulating them from systemic failures often seen in centralized banking structures. This decentralization ensures continuity and security for holders
• Simplified fund transfers. Cryptocurrencies have revolutionized fund transfers, making them more direct and often reducing the costs and time associated with traditional bank transactions
• Direct transactions. The peer-to-peer nature of crypto transactions eliminates the need for intermediaries, ensuring faster and more efficient exchanges
• Potential for returns. As an investment avenue, cryptocurrencies can offer significant profits, thanks to their trading activities and the appreciation of market values
• Enhanced remittances. For those transferring money across borders, cryptocurrencies can simplify the process, making it faster and often more economical than conventional methods
👎 Cons
• Pseudonymity. While cryptocurrencies promise privacy, they aren't entirely anonymous. This pseudonymous nature poses challenges in tracking transaction histories
• Illicit use potential. Due to their semi-anonymous nature, there's a risk of cryptocurrencies being exploited for illegal activities
• Centralization risks. The increasing influence of major mining pools has stirred concerns about a shift away from the foundational decentralization principle of cryptocurrencies
• Resource-intensive mining. Engaging in cryptocurrency mining demands significant investments, especially in terms of energy and equipment
• Security concerns. While the blockchain technology underlying cryptocurrencies is secure, peripheral elements like wallets and exchanges can be breach-prone
• Price volatility. Cryptocurrencies are known for their price fluctuations, presenting both lucrative opportunities and potential risks to investors
FAQs
Can I trade crypto in Malaysia?
Yes, cryptocurrency trading is legal in Malaysia and is regulated under the Capital Markets and Services Act 2007. Users can buy Bitcoin and other cryptocurrencies through regulated digital asset exchanges using Malaysian Ringgit (MYR) via various payment methods.
Which crypto exchange is best in Malaysia?
Some of the notable crypto exchanges in Malaysia include:
Kraken – Highly recommended overall
Capital – Known for zero trading fees
CoinSmart – Appreciated for its security
Crypto.com – Best for trading altcoins
Is KuCoin legal in Malaysia?
The Securities Commission of Malaysia (SC) has added KuCoin to its Investor Alert List.
Is Huobi safe in Malaysia?
The Securities Commission Malaysia (SC) directed Huobi Global to cease its operations in the country as it was functioning without proper registration.
Methodology for compiling our ratings of crypto exchanges
Traders Union applies a rigorous methodology to evaluate crypto exchanges using over 100 quantitative and qualitative criteria. Multiple parameters are given individual scores that feed into an overall rating.
Key aspects of the assessment include:
User reviews. Client reviews and feedback are analyzed to determine customer satisfaction levels. Reviews are fact-checked and verified.
Trading instruments. Exchanges are evaluated on the range of assets offered, as well as the breadth and depth of available markets.
Fees and commissions. All trading fees and commissions are analyzed comprehensively to determine overall costs for clients.
Trading platforms. Exchanges are assessed based on the variety, quality, and features of platforms offered to clients.
Extra services. Unique value propositions and useful features that provide traders with more options for yield generation.
Other factors like brand popularity, client support, and educational resources are also evaluated.
Glossary for novice traders
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Broker
A broker is a legal entity or individual that performs as an intermediary when making trades in the financial markets. Private investors cannot trade without a broker, since only brokers can execute trades on the exchanges.
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Trading
Trading involves the act of buying and selling financial assets like stocks, currencies, or commodities with the intention of profiting from market price fluctuations. Traders employ various strategies, analysis techniques, and risk management practices to make informed decisions and optimize their chances of success in the financial markets.
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Cryptocurrency
Cryptocurrency is a type of digital or virtual currency that relies on cryptography for security. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies operate on decentralized networks, typically based on blockchain technology.
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Bitcoin
Bitcoin is a decentralized digital cryptocurrency that was created in 2009 by an anonymous individual or group using the pseudonym Satoshi Nakamoto. It operates on a technology called blockchain, which is a distributed ledger that records all transactions across a network of computers.
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Investor
An investor is an individual, who invests money in an asset with the expectation that its value would appreciate in the future. The asset can be anything, including a bond, debenture, mutual fund, equity, gold, silver, exchange-traded funds (ETFs), and real-estate property.
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Team that worked on the article
Alamin Morshed is a contributor at Traders Union. He specializes in writing articles for businesses who want to improve their Google search rankings to compete with their competition.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).