How to easily start investing with cryptocurrency in Malaysia?
The cryptocurrency boom last year from 2021 until early 2022 caught everyone off guard. During that period, almost everybody has the idea that Bitcoin will reach $100K per coin. But it didn’t happen. Instead, the whole market plummets. At the time of writing, Bitcoin was priced $21,555.00, according to Coingecko data. However, if you look closely, that was all due to the macroeconomic conditions.
Will Bitcoin and cryptocurrency prices keep going down? I don’t think so.
The price of these assets might go down for a while, but at some point, prices will go up again following mass adoption. Crypto mass adoption is incoming, and so will the price. It will happen, it’s not a matter of if, but a matter of when it will happen.
According to Chainalysis crypto global index research suggests that global adoption has grown by over 2300% from 2019. That is a massive growth in adoption!
You saw it incoming and have been asking this question, how to easily invest in cryptocurrency in Malaysia. Let me tell you, you found the right place. I will be sharing with you how you can start investing in cryptocurrency if you are in Malaysia as a beginner. I will be sharing the easiest way, which you can start right away!
How to easily start investing with cryptocurrency in Malaysia for Beginner
There are a lot of ways to invest in cryptocurrency in Malaysia. I have shared on how to easily buy bitcoin in Malaysia and also how to buy Binance Coin (BNB) in Malaysia but this time, I will share on general on how to invest in cryptocurrency. Below are 2 ways that you can follow easily.
1. Invest via cryptocurrency exchanges recognized by the Securities Commission (SC) Malaysia.
There are only 4 cryptocurrency exchanges recognized by the Securities Commission of Malaysia at the time of writing. Please bear in mind that if you are using any entities or exchanges that are not recognized by securities the commissions of Malaysia, anything happens, you will not be protected by the Law in Malaysia.
The 4 exchanges that are recognized are as below;
i. SINEGY Technologies (M) Sdn. Bhd.
Sinegy Sdn Bhd website.
A quick check-in sinegy website and marketplace show that this exchanges only allow trading Bitcoin and Ethereum. So if your focus is only on this 2 crypto assets, Sinegy can be the place. Just open an account with them and you’ll good to go.
ii. MX Global Sdn Bhd
MX Global Sdn Bhd website.
MX Global too is only allowing trading of Bitcoin and Ethereum.
iii. Tokenize Technology (M) Sdn. Bhd
Tokenize Technology (M) Sdn. Bhd website.
Tokenize technology offers more crypto options. A quick check shows that they only offer Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP).
iv). Luno Malaysia Sdn. Bhd.
Luno Malaysia Sdn. Bhd website.
Luno Malaysia is the most popular among recognized exchanges by the Securities Commission of Malaysia. Luno has an operation in many countries including the UK, South Africa, Australia, Singapore, Malaysia, and more.
A quick check on Luno marketplace shows that they allow more assets for trading. Just check Luno Marketplace to see the assets allowed for trading.
2. Invest via International Exchanges
There are a lot of other reputable international cryptocurrency exchanges. However, these exchanges are not recognized by the securities commission of Malaysia. A few of them include Binance, FTX and KuCoin. These are a few suggestions but feel free to find other exchanges suitable for your needs.
I have personally use all of them and all is good. Just open an account with them and you’ll good to go. The only problem with these exchanges is that they are not accepting payment in MYR and payment channels if very limited. You can’t pay using your Malaysia-issued card either.
You can use this method of how to buy Binance coin in Malaysia if you are having problem funding your international exchanges account. The same method applies to all other coin as well.
So, here you are, 2 ways of how to invest in cryptocurrency for beginner if you are in Malaysia.
Summary
1. Invest in Cryptocurrency via recognized crypto exchanges by the Securities Commission of Malaysia.
- Open an account with one of the crypto exchanges and buy your preferred assets. Store the assets in your exchanges account.
2. Invest in Cryptocurrency via international Cryptocurrency exchanges.
- They are not recognized by Securities Commission of Malaysia. However they are very reputable exchanges.
- Open an account the the reputable international exchanges such as Binance or KuCoin.
- Difficult to fund your trading account but you may follow this how to buy binance coin in Malaysia if you are facing difficulties in funding your account. The same method can be use for other coin as well.
If you have other method that you use, feel free to share them in comments below!
Read More;
How to buy Bitcoin in Malaysia, The Easy Way
How to Easily Buy Binance Coin (BNB) in Malaysia (2022)
Crypto CEO Changpeng “CZ” Zhao Become Top Billionaires in The World
Crypto.com Hot Wallet Hacked, $15 Million Worth of Ethereum Stolen
