Best Crypto Exchange Malaysia 2022

Buying and selling cryptocurrencies in Malaysia is easier than ever thanks to the country’s wide selection of crypto exchanges. These platforms let investors buy Bitcoin, Ethereum, and other popular cryptocurrencies with US dollars or Malaysian ringgit.

In this guide, we’ll reveal the 6 best crypto exchanges in Malaysia this year and help investors choose the best crypto exchange in Malaysia.

The Top Bitcoin Exchanges in Malaysia Reviewed

With so many Bitcoin exchanges in Malaysia, it can be hard to know which exchange is the top contender. Our reviews of the best crypto exchanges in Malaysia explain what makes these platforms stand out.

1. Crypto.com – Overall Best Crypto Exchange in Malaysia

The Crypto.com exchange platform offers low-cost trading on a wide variety of cryptocurrencies. With this exchange, Malaysian traders and investors can easily buy more than 250 cryptocurrencies.

There are no fees for deposits to Crypto.com and no fees when investors swap one cryptocurrency for another. Users can buy crypto with a credit card, debit card, or bank transfer, and the platform even offers 5% cashback in crypto when purchases are made using Crypto.com’s Visa crypto rewards credit card.

Crypto.com’s exchange is available through a mobile app for iOS and Android. It’s very straightforward to navigate and doesn’t try to overwhelm beginners with complex charting tools. The platform also makes things easy for beginners by offering its own proprietary crypto wallet, which puts users in complete control of their private key.

Another thing to like about Crypto.com is that the platform enables investors to earn interest on their cryptocurrency. Crypto.com’s crypto interest accounts offer up to 14% APY, and up to 6% APY for Bitcoin and Ethereum. The rate users can earn depends on the coin they stake, whether they choose a flexible, 30-day, or 90-day staking period, and how much Cronos (CRO) they stake (Crypto.com’s native cryptocurrency). Crypto.com offers interest on more than 40 popular tokens.

Pros:

• Trade 250+ cryptocurrencies
• Crypto rewards credit card offering up to 5% back
• Integrated crypto wallet
• Interest accounts with up to 14% APY

Cons:

• Must stake CRO to get best interest rates

Cryptoassets are a highly volatile unregulated investment product.

2. Capital.com – Best Crypto CFD Trading Platform

Capital.com is a CFD trading platform in Malaysia that enables traders to speculate on the prices of cryptocurrencies without actually owning them. Instead, traders purchase CFDs (contracts for difference) that can gain or lose value as the price of a cryptocurrency goes up or down.

There are several potential advantages to trading CFDs rather than trading cryptocurrencies directly. First, traders can go long or short with CFDs. This means that if a trader thinks that the value of a cryptocurrency will drop, they can speculate on that drop using CFDs. Second, CFDs enable Malaysian traders to apply leverage to their positions. At Capital.com, the maximum leverage for cryptocurrency trading is 2:1 for all tokens, including Bitcoin.

Since Capital.com is built for crypto trading, it should come as little surprise that the platform offers some of the best trading tools available in Malaysia. Capital.com traders get access to the platform’s proprietary charting software, which includes dozens of technical indicators and drawing tools. It also supports an integration with TradingView and enables traders to set up price alerts right from their charts.

Capital.com doesn’t charge any commission on cryptocurrency CFD trades. Traders are only responsible for paying the spread, which can be as low as 90 pips (0.90%) for Bitcoin. Capital.com accepts deposits by credit card, debit card, bank transfer, and e-wallet.

Pros:

• Trade CFDs on 470+ cryptocurrency pairs
• Long or short positions with 2:1 leverage
• No deposit or withdrawal fees
• Excellent trading platform

Cons:

• Cannot purchase cryptocurrencies outright

Cryptoassets are a highly volatile unregulated investment product.

3. Binance – Trade 600+ Cryptocurrencies in Malaysia

Binance is one of the biggest crypto exchanges in the world, with an incredible 28 million users. This global crypto exchange boasts a selection of more than 600 cryptocurrencies, making it the place to go for investors who are looking for new altcoins that aren’t available at other exchanges.

Binance offers 2 ways to buy and trade cryptocurrencies. For investors who want to buy crypto instantly, the platform accepts credit and debit cards. The process is fast and seamless, but investors pay for the convenience: fees for credit and debit purchases at Binance can run up to 4.5%.

The other way to trade cryptocurrencies at Binance is using the exchange’s built-in trading platform. This platform includes a huge selection of technical indicators as well as access to the Binance order book. Trading fees when using Binance’s trading platform start at only 0.1% per trade.

Pros:

• Trade 600+ cryptocurrencies
• Instant buy or advanced trading platform
• Access to Binance order book
• Trading fees from 0.1%

Cons:

• Debit and credit card fees up to 4.5%

Cryptoassets are a highly volatile unregulated investment product.

4. Coinbase – Popular Exchange with Integrated Wallet

Coinbase is a popular global crypto exchange that offers trading on a variety of popular cryptocurrencies. Investors will find Bitcoin, Ethereum, Litecoin, and more than 100 other top altcoins.

As at Binance, Coinbase enables investors and traders to choose between an instant buy platform or an advanced trading platform called Coinbase Pro. Fees for the instant buy platform can run up to 3.99% for credit and debit card transactions, while fees for using Coinbase Pro start at 0.60%. High-volume traders can qualify for discounted pricing.

Coinbase enables users to store cryptocurrencies right inside their exchange account, but the platform also offers a dedicated crypto wallet with a fully private key. This wallet offers a marketplace of decentralized apps, making it a hub for investors interested in decentralized finance (DeFi).

Coinbase also enables investors to earn interest on several popular cryptocurrencies. Meanwhile, investors who hold Bitcoin can take out crypto loans against their account value.

Pros:

• Instant buy interface and trading platform
• Volume discounts on trading fees
• Integrated crypto wallet
• Crypto interest accounts

Cons:

• Credit and debit card fees up to 3.99%

Cryptoassets are a highly volatile unregulated investment product.

5. Luno – Beginner-friendly Exchange for BTC and ETH

Luno is one of the best Malaysian crypto exchanges for beginner crypto investors. The platform only offers access to Bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash. While that can be limiting for more advanced traders, the lack of other altcoins means that this exchange is streamlined and easy to navigate.

The platform’s pricing is also simple. Luno doesn’t charge any fees for deposits in Malaysian ringgit, and investors will pay a fixed fee of 2.0% for every crypto buy and sell transaction.

What makes Luno especially useful for beginners is that the exchange offers articles and guides to crypto investing. These articles can help newcomers decide if crypto is right for them and guide them towards making their first investments. Of course, don’t expect an advanced trading platform or many tools for analyzing crypto prices with this exchange platform.

Pros:

• Straightforward platform
• Fixed 2.0% fee for all transactions
• Guides to crypto investing
• No deposit fee

Cons:

• Only offers 5 cryptocurrencies

6. Bitpanda – Invest in Crypto Indices

Bitpanda is a multi-asset brokerage and crypto exchange that’s suitable for investors looking to build a portfolio with cryptocurrencies. On this platform, investors will find more than 60 cryptocurrencies to trade as well as stocks, ETFs, and precious metals.

Notably, Bitpanda also has its own crypto indices. These track the prices of 5, 10, or 25 of the most popular cryptocurrencies and give investors exposure to a broader swath of the crypto market than is normally possible. For investors who are broadly bullish on crypto but don’t want to bet on a single coin, these crypto indices are a unique investment.

Bitpanda is free to use but charges a 1.49% transaction fee on all crypto trades. Alternatively, users can turn to Bitpanda Pro, an advanced trading platform, and find trading fees from only 0.05%.

Pros:

• Most popular cryptocurrencies available to trade
• Trade crypto, stocks, and more
• Crypto indices available
• Pro platform with fees from 0.05%

Cons:

• Exchange fees for MYR deposits

The Best Malaysian Crypto Exchanges Compared

Want to compare the best Malaysian crypto exchanges directly? The table below shows cryptocurrencies, fees, and payment methods at the the 6 best cryptocurrency exchanges.

How to Choose the Best Cryptocurrency Exchange for You

Choosing the best Bitcoin exchange in Malaysia is an important part of investing in and trading cryptocurrencies. Here are some of the key factors to consider when picking a crypto exchange.

Regulation

The best and biggest crypto exchanges are regulated by global financial authorities like the UK’s Financial Conduct Authority or the Securities Commission Malaysia. Many crypto exchanges require traders to verify their identity in order to comply with anti-money laundering requirements.

Tradable Cryptos

The number of cryptocurrencies available to trade and invest is a major factor to consider when choosing the best Malaysia crypto exchange. Top exchanges like Crypto.com offer hundreds of cryptocurrencies. Binance offers more than 600, including access to new altcoins traders won’t find at other exchanges.

Sign Up Offers

Many crypto exchanges offer sign up bonuses and promotions that reward new investors for joining. These bonuses can be in the form of cash or cryptocurrency, and they can give an edge to one exchange for traders who can’t decide which platform is best. Right now, the Crypto.com referral bonus is worth up to $50 for new users.

Fees

One of the biggest differences between top crypto exchanges in Malaysia is how much they charge to trade cryptocurrencies. Some charge a flat fee for every transaction, others charge spreads or commissions that vary by coin, and others charge variable fees depending on how users fund their accounts.

For example, Coinbase and Binance both charge very low fees for transactions made using their trading platforms, but high fees for instant crypto purchases made using a debit or credit card. The Crypto.com exchange charges fees starting at 0.40% for Bitcoin and doesn’t charge extra for debit or credit card deposits.

Tools & Features

Some Bitcoin exchanges in Malaysia, like Luno, cater to beginner investors, focusing on simple tools that enable users to buy and sell cryptocurrency in a few clicks. Others, like Capital.com, offer much more in-depth tools, including advanced trading platforms with charts, technical indicators, and price alerts. Exchanges like Binance and Coinbase offer both.

When comparing tools and features across top crypto exchanges in Malaysia, don’t forget to look for crypto interest accounts. Crypto.com offers crypto interest up to 14% APY for more than 40 different coins. Investors can also earn interest at Binance and Coinbase.

Payment Methods

Part of what makes the 6 platforms we reviewed the best Malaysian crypto exchanges is that they accept a wide range of payment methods. Most accept credit cards, debit cards, and bank transfers, and they have low minimum deposits to make crypto trading more accessible to beginners.

Also keep an eye out for exchanges like Luno that accept deposits in MYR without exchange fees.

Customer Service

The best cryptocurrency exchanges offer readily available customer service by phone, email, and/or live chat. At Crypto.com, users can get in touch with support agents 24/7 by phone or live chat. Most exchanges also have online knowledgebases that provide easy-to-understand answers to common questions.

How to Use a Crypto Exchange in Malaysia

Ready to get started with the best cryptocurrency exchange in Malaysia? We’ll walk through the steps to buy Bitcoin with Crypto.com, our pick for the overall best Bitcoin exchange in Malaysia for 2022.

Step 1: Sign up for Crypto.com

Head to Crypto.com’s website and create a free account. Enter your name, date of birth, email, phone number, and address, then click Create Account.

Crypto.com may require new users to verify their identity. To do so, users must submit a photo of themselves taken while holding a piece of paper that includes their name, the date, and an authentication code from Crypto.com’s support team.

Step 2: Download the Crypto.com App

Crypto.com users can buy and sell cryptocurrency using either the desktop client or the Crypto.com app, available for iOS and Android devices. Download their crypto app from Google Play or the Apple App Store. Once it’s installed on your device, open the app and log in with your email and Crypto.com password.

Step 3: Deposit Funds

Crypto.com accepts deposits by credit card, debit card, and bank transfer. New users must make a minimum deposit of at least $20 before buying their first cryptocurrency.

In the app, tap Transfer and then Deposit. Choose a payment method, enter the payment details, and enter the amount to deposit. When ready, tap Deposit to complete the payment.

Step 4: Buy Cryptocurrency

Now it’s time to buy cryptocurrency. From the list of prices in the Crypto.com app dashboard, tap on the desired cryptocurrency. Then tap Trade to open a new order form. Enter the amount of the cryptocurrency to purchase, review the trade details, and then tap Trade to complete the purchase.

Are Crypto Exchanges Legal in Malaysia?

Crypto exchanges are legal in Malaysia. The country has few restrictions on the ability of crypto exchanges to operate legally. The primary requirement is that every Malaysian Bitcoin exchange must comply with the country’s anti-money laundering regulations.

This means that investors and traders can legally buy and sell cryptocurrency with any of the best Malaysian crypto exchanges. The country’s financial regulator reminds investors that cryptocurrencies are not regulated financial products and are not legal tender, even though the assets are legal. Also see our guide to buying stocks in Malaysia if you’re interested in other types of financial assets.

Conclusion

The best Malaysia crypto exchanges make it easy to buy and sell a wide range of cryptocurrencies, including Bitcoin, Ethereum, and other popular altcoins. Many of these exchanges charge competitive fees and enable investors to purchase crypto with a credit card, debit card, or bank transfer.

For traders and investors in search of the best Malaysia crypto exchange for 2022, check out Crypto.com. Crypto.com offers 250+ cryptocurrencies, crypto interest accounts with rates up to 14% APY, and an integrated crypto wallet. Sign up today to get started!

Cryptoassets are a highly volatile unregulated investment product.

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