Best cryptocurrency exchanges Malaysia 2022
          

The world's first cryptocurrency exchange was founded by programmer Jed McCaleb.

In 2010, for example, few people had heard of Bitcoin and only blockchain enthusiasts were involved in the exploitation of digital gold. The trading platform was called Mt. Gox.

On the first day 20 BTC were sold and after 3 months the daily turnover was over 150,000 coins. The bidding went well, but a year after the launch, the founder sold the finished project and lost interest in the development. Under its new owner, Mt. Gox recorded even higher growth rates, with 31,200 registered members in May 2011. Then other cryptocurrency trading platforms appeared and Mt. Gox ceased to exist after a successful hacking attack in 2014.

After that, 744,000 BTC were stolen from the service's deposits. I must say that this was far from the first case of money loss, but the exchange continued to function as there were no competitors at all. Today, the situation has changed, there are even too many sites on the Internet and it is very difficult for an inexperienced user to determine the best exchanges for cryptocurrencies. In this article we will introduce you to the most popular services and try to explain the aspects you should pay attention to when choosing a site for trading virtual goods.

Top cryptocurrency trades by trustworthiness

Ranking Name Number of negotiation pairs Founding year
1 Binance 674 2017
2 Okex 536 2017
3 Huobi Global 658 2013
4 KuCoin 525 2017
5 Kraken 630 2011

Binance

Trading in TOP cryptocurrencies is opened by the young platform Binance, which is developing very dynamically. Since the time of the legendary Mt. Gox, no project has had such a resounding success in such a short time.

Binance is a great example of what cryptocurrency trading should look like in real life. Initially, the resource did not work with fiat money at all. Later, due to the many customer requests, an adjacent Binance Jersey platform was opened where cryptocurrencies can be exchanged for traditional currencies.

The daily turnover of Binance's cryptocurrency exchange averaged USD 1 billion and USD 4 billion at the peak of trading.

Identity verification is required. There is a PC application and a mobile application for Android and iOS. Spot and forward trades, P2P trading, cryptocurrency lending, deposits, milestones, and other financial products are supported. There is a mining pool for BTC and Ethereum.

  • 740 different crypto and fiat pairs, including own token BNB.
  • Binance offers competitive trading fees (commissions): 0.1% on each side of the trade, or 0.075% if you are using your Binance tokens (BNB).
  • Trust Wallet mobile application.
  • Bank transfer, debit/credit cards, various P2P payment channels.
  • The exchange launched CryptoSafe Alliance (CSA). This initiative will bring together exchanges, blockchain protocols, cybersecurity experts, and regulatory compliance companies. It is the first comprehensive threat monitoring and protection tool in a decentralized data exchange environment.
  • A free app is available in Google Play Store or the App Store.

Okex

OKEx is one of the most secure cryptocurrency exchanges with a wide range of trading instruments and a user-friendly interface. The service is constantly expanding the scope of its services and providing traders with additional profit opportunities.

Identity verification is always optional. A demo account is provided for beginners. You can perform margin transactions on the spot and futures markets, earn passive income from cryptocurrency loans and work in a pool. In Exchange Cloud, anyone can try to build their own cryptocurrency exchange from scratch by customizing it for different platforms and web applications.

  • 250+ different crypto and fiat pairs.
  • The mobile application is fully compatible with devices running on major operating systems, i.e., you can download the application on Android in ARC format or in IPA format. A free app is available in Google Play Store or the App Store.
  • Leverage.
  • Market types: spot, futures, perpetual swaps, options, cryptocurrency listing, indices, spreads.
  • Deposit / withdrawal methods: Credit card, crypto wallet.

Huobi

Huobi Global is a resource with a wide range of trading instruments and a unique anti-piracy system. It supports spot and futures trading and staking, including ETH 2.0, a free trading robot and over-the-counter trading.

7 digital assets can be mined in the mining pool. You can trade crypto for fiat in the "Quick Buy/Sell" tab or in the P2P marketplace. In the "Training" section you can find a lot of useful articles for beginners, but you will have to translate them into Russian yourself.

  • Provides traders with the opportunity to work with more than 200 cryptocurrency pairs, divided into 3 main markets: BTC, ETH and USDT.
  • Functionality: clients can build a variety of charts, select time intervals, use a rich set of options to customize charts.
  • Exchange interface translated into 12 languages.
  • When working with dollars, the commission will be 0.1%.

Coinmama

The Coinmama bitcoin exchange is based in Israel. The platform was first launched in 2013 and its website states that it offers the possibility to buy cryptocurrencies quickly and securely from anywhere in the world. In fact, it works in almost every country in the world.

Coinmama was launched on the market in 2013. From the very beginning, the company's unique selling point was the possibility to buy cryptocurrencies with a credit/debit card. Coinmama was the first company to offer this option, which attracted many interested buyers and thus quickly became one of the most popular exchanges in this segment.

Coinmama is a good choice for those who want to buy Bitcoin or Ether quickly and securely via bank transfer or credit card. The site does not store the purchased cryptocurrencies in internal wallets, but transfers the coins to your personal wallet immediately, which is very good and makes you independent from sudden problems.

  • The website sells Bitcoin, Ethereum. Litecoin, Bitcoin Cash, Qtum, Ripple, Ethereum Classic, Cardano, Tezos and EOS.
  • The use of credit or debit cards implies a service charge of 5%. Besides, the charges 3.90% for buying coins and 0.9% for selling these.
  • No Wallet.
  • Credit/debit cards and bank transfers; It supports SEPA and SWIFT payments.
  • Coinmama is a reputable company with a secure site using Trust Guard and Comodo technologies. Both services have confirmed that 256-bit SSL encryption is actively used on pages containing personal information.
  • Mobile app.

Localbitcoins

LocalBitcoins is a P2P exchange for buying bitcoins through offline fiat money, online e-money and some altcoins. It is considered a reliable platform for direct and decentralized exchange between the parties of a transaction. It allows you to buy Bitcoins quickly using a variety of convenient methods.

Localbitcoins is not an exchange like any other. No central exchange rate is used on this platform. Sellers and buyers decide for themselves at what price they want to buy or sell Bitcoins and choose the trading methods.

Exchanges with Localbitcoins can be conducted both over the Internet and in person with the seller. The second option may prove to be insecure, as in this case the platform does not control the transaction process. Therefore, buying the digital currency offline is not always the most profitable option.

With citizens from over 200 countries using the exchange, it is one of the largest exchanges for buying cryptocurrencies against fiat currency.

  • The service does not charge a commission from the buyer.  For sellers, there is a set commission of 1% on each sale.
  • Bank transfers, banking cards, electronic systems.
  • The security of the transaction is ensured by the escrow method, which has proven to be highly effective; User accounts are protected by two-factor authentication.

KuCoin

A simple and convenient way to trade and bet with cryptocurrencies. If you are satisfied with the daily withdrawal limit of 5 BTC, you can trade anonymously. For verified clients, the withdrawal limit is increased to 200 BTC, and the leverage when trading futures can be up to 100x. It is possible to buy digital currency with a credit card and through the P2P area.

  • 200+ coins and 450+ trading pairs.
  • All deposits are free on the site, and there is a fixed fee for withdrawals; KuCoin offers a flat commission of 0.10%, which is less than the industry average.
  • Inner site crypto wallet.
  • A variety of payment methods supported by P2P fiat services.
  • The exchange offers you the option to set up two-factor authentication by Google Authenticator.
  • Mobile application.

Poloniex

Polonix cryptocurrency exchange features strict security rules and margin trading. You can take out a loan to exchange a cryptocurrency for interest or lend it to other users. The platform has a good selection of trading pairs and a mobile application.

  • 100+ currency pairs.
  • All deposits are allowed without any additional charges; The withdrawal fee is fixed, and it depends on the type of the currency; commissions are from 0 to 0.25%. Maker commission is from 0% to 0.15%; taker commission is from 0.1% to 0.25%. The higher is the volume of completed transactions in one month, the lower is the commission for all subsequently completed transactions.
  • Own Wallet.
  • Replenishment of an account with a bank card or withdrawal to a card are not available for users of some countries.
  • The administration highly recommends adding two-factor authentication to your account.
  • Mobile application.

Bitfinex

Bitfinex crypto platform supports trading and margin transactions, works with traditional money and charges minimal fees for traders with high turnover. The exchange has a good reputation among users. Bitfinex website has been translated into several languages.

  • Over 140 coins and 300 trading pairs.
  • No additional payments for deposits and withdrawals in digital coins. When you deposit USD, you will have to pay a commission of 0.1%, but not less than $ 20;Minimum fee for withdrawing fiat money is $ 60; With the minimum currency turnover per month, the trading fee is 0.1% for the maker and 0.2% for the taker.
  • Users are offered three wallets to choose from - Exchange Wallet, Margin Wallet, and Financing Wallet.
  • In addition to digital currencies, bank transfers and card withdrawals are available to users.
  • Only 0.5% of crypto assets are kept online to support daily transactions. The rest of the coins are kept in cold wallets out of the reach of hackers. For these wallets to become available, manual authorization of several members of the management team is required.

Bittrex

The Bitrix platform stores most digital assets in cold wallets. 

  • 250+ trading pairs are available.
  • Topping up your euro account is available via SEPA credit transfer, international bank transfer, bank card. Fiat funds withdrawal is possible to a bank account using an international bank transfer, and for euros, a SEPA credit transfer is supported. The withdrawal commission depends on the chosen currency: in bitcoin, it is 0.0005 BTC, in Ethereum - 0.00600000 ETH. The site has a fixed trading fee of 0.25% of the total value of the order.
  • No crypto wallet.
  • Bank transfers, credit/debit cards.
  • Two-factor authentication (2FA), IP check, which requires an email confirmation of entry from a new IP-address, IP whitelists, Cold storage for 80%-90% assets.
  • There are two apps for Android and iOS respectively: Bittrex Global and Bittrex.

BitMex

BitMEX, short for Bitcoin Mercantile Exchange, is an advanced trading and exchange platform for cryptocurrencies. Unlike many other cryptocurrency exchanges that trade one cryptocurrency for another, BitMEX focuses on trading derivatives: perpetual contracts and daily and weekly futures.

Cryptocurrency futures are an agreement to buy or sell an underlying asset (cryptocurrencies) at a predetermined price for a specific date in the future.

Perpetual contracts - Similar to futures except they have no expiration or maturity date.

BitMEX is a trusted cryptocurrency exchange for advanced users interested in margin trading crypto derivatives. The company is constantly improving, adding new features and expanding the list of available assets. No verification is required to work. Bitmex uses multi-signature wallets and cold wallets to store clients' funds. All withdrawals are processed manually once a day at the specified time.

  • 55 trading pairs.
  • BitMEX does not charge any fees for deposits or withdrawals. When withdrawing BTC, a minimum Bitcoin Network commission is applied; commissions for takers are 0.075% of the total order value, while makers are paid an additional 0.025% for each trade.
  • Crypto BitMEX wallet.
  • Beyond virtual currencies, BitMEX does not accept any other deposits.
  • Funds are stored in cold wallets; Two-factor authentication; Registration via SMS notifications; Multi-signature wallets for transactions; Email communications are encrypted using PGP encryption.
  • BitMEX Mobile launched in September 2020.

Kraken

Kraken Exchange is one of the oldest exchanges on the cryptocurrency market. The service is characterized by a high level of reliability and an impeccable reputation. Kraken is one of the first exchanges to pass a cryptocurrency audit. Here you can exchange Bitcoins for fiat currencies, including the Canadian dollar, and there are no "garbage" currencies among the virtual assets. The flexible verification system consists of four stages and is mandatory for all accounts.

  • 8 tokens are available for.
  • Transactions under 50,000 units of a particular currency are subject to a commission of 0.16% for the seller and 0.26% for the buyer. For sums over 50,000 units, commissions are reduced to 0.14% and 0.24% respectively.
  • No crypto wallet is offered on the site.
  • Crypto wallets and money transfers via bank transfer. Deposit/withdrawal via bank cards is not available.
  • The exchange offers users two-factor authentication, PGP encryption, and global settings lock, which prevents any account changes within a certain period of time.
  • Kraken Pro and Kraken Futures applications.

HitBTC

HitBTC service has been operating on the crypto industry market for 6 years. It offers well-designed functionality, a wide range of trading instruments and currency pairs. Identity verification is required only for traders working with fiat currencies.

  • 800 currency pairs.
  • No commissions for deposits and a fixed commission for withdrawals depending on the coin; HitBTC uses a multi-level trading fee calculation system. The more a user trades, the lower his commission will be.
  • No crypto wallet.
  • The HitBTC exchange can be replenished exclusively with digital currency.
  • The platform provides 2-factor authentication, high-end encryption technology and cold storage of funds.
  • No application.

Bitpanda

Currently, the presented crypto exchange is considered to be one of the most reliable in the world and is intended for traders from European countries. US citizens, for example, cannot work there. Before the auction starts, you need to provide some data about yourself and confirm it. Bitpanda verification is divided into 3 levels: Bronze, Silver and Gold. The limits for withdrawing funds depend on these levels.

The presented platform has many advantages and these have ensured its great popularity. First of all, the support of the euro is a great advantage, as absolutely everyone is used to using cash. Secondly, the fees for the service remain low, which attracts traders. Thirdly, an affiliate program was introduced not too long ago. Through this program, you can earn money by attracting new users. Fourth, quick registration is an obvious advantage. Fifth, the website has an intuitive interface and runs stably.

  • Bitcoin, Ethereum and 30+ digital assets.
  • The trading commission of the service depends on the type of currency and the nature of the transaction. When buying bitcoins, you pay 1.49%, when selling - 1.29%.
  • Commission for replenishment and withdrawal is fixed for each coin and is debited from the account.
  • Bitpanda crypto wallet.
  • You can make a deposit either by bank transfer, credit cards or electronic payment systems.
  • Bitpanda refers to systems that independently manage user wallet keys. Besides, the following security measures are offered: fund cold storage session control. Every login attempt from a new device requires two-factor authentication confirmation, authentication and validation via email.

Coinbase

Coinbase online platform combines wallet, exchange and trading tools in one simple interface. The main goal of its creators is to make Coinbase the first global brand that helps people convert digital currency into local currency and vice versa.

The service is attracting attention from major corporations and has been repeatedly noted by financial observers in the pages of Bloomberg, the New-York Times and other media outlets.

  • 23 types of coins.
  • The rates charged for all operations under $200 are as follows: $ 0.99 - $ 2.99 - for operations from $ 0 to $200; for over $200, a fixed interest rate comes into play. Its size depends on the payment method.
  • Free mobile and online wallet. The advantage of this wallet is that transactions can be made off-blockchain.
  • You can pay funds that can be deposited and withdrawn using a bank card, transfer and a range of payment systems. SEPA transfers are available for EU residents.
  • Two-factor authentication. All website traffic is encrypted using the SSL cryptographic protocol.
    All wallets keys are protected by AES-256 encryption. Only 2% of her clients' cryptocurrency funds are stored online, and they are insured in case of loss.
  • Android and iOS app.

Paxful

Paxful's mission is to provide people with a simple and secure platform to buy and sell Bitcoins. The company is registered under the laws of the United States (Delaware) as a money transfer operator with the Financial Crimes Network of the US Department of the Treasury.

Paxful, like LocalBitcoins, is a peer-to-peer cryptocurrency platform where users transact with each other. Like most similar platforms, Paxful does not hold funds and acts as an intermediary for users. Paxful helps bring buyers and sellers together by supporting over 300 different payment methods.

On Paxful you can sell Bitcoins by setting your price and choosing your payment method.

The platform supports its own mobile wallet (Paxful Wallet), available for iOS and Android, and allows for easy and straightforward sending, receiving, and storing of Bitcoins, as well as tracking of transactions opened on Paxful.

  • Bitcoin and Tether as assets.
  • Commissions are applied for crypto selling:0.5% for bank transfers; 1% for bank cards and e-payments; 3-5% for gift cards; No commission is charged for buying cybercurrencies; Paxful will charge a transfer fee for sending funds to an external wallet. $ 0 - $ 9.99 = 0.0001 BTC$ 10 - $ 19.99 = 0.0002 BTC;More than $ 20 = 0.0005 BTC.
  • The Paxful Wallet App makes it easy to store and manage coins with your mobile wallet.
  • More than 300 ways to buy coins, including bank transfer, credit and debit cards, PayPal, Western Union, and even Amazon, iTunes or Steam gift cards.
  • The security of the system is ensured by two-factor authentication, depositing and the obligatory verification procedure when working with large amounts.
  • Paxful Wallet for Android and iOS.

The list of reliable and popular trading platforms could go on. How to choose the right service?

What should you look for when choosing a trading platform?

First you need to decide what kind of digital goods you want to work with. Popular currencies like ETH, ETC, XRP are traded on most exchanges, and young projects on no more than two or three, or usually on a single service, and then the choice is already obvious. If you have several options, first pay attention to the following aspects:

  • Reviews from other users.
  • The price of the cryptocurrency you are interested in on a specific trading platform. Most of the coins are exchanged for Bitcoin, less often for Ethereum, Litecoin or other alts. The exchange cost is expressed in dollars and may differ slightly on different exchanges.
  • Fee also matters. You pay for the purchase and sale operation and for the withdrawal of cryptocurrency from the trading platform.
  • The minimum threshold for replenishment and withdrawal is also an important criterion for most users.
  • Identity verification. The vast majority of reputable crypto exchanges require, or at least strongly recommend, the client to verify their identity. Many sites limit the maximum withdrawal amount in 24 hours for users who have not passed verification, or simply refuse service and or freeze withdrawals. If you wish to work anonymously, carefully read the client agreement.
  • Support for fiat currencies and payment options. For those wishing to exchange virtual assets for US dollars or national currency, the choice of available platforms is sharply narrowed. Look also at the available methods of depositing and withdrawing traditional money.
  • Multilingual interface.

These recommendations apply to every user. Experienced traders pay attention to criteria such as:

  • User-friendly interface and options for technical and graphical analysis.
  • Selection of trading instruments. On some exchanges, you can buy or sell coins only at the current price. Other platforms provide an opportunity to create stop-limit and other types of orders, the price in which the user specifies.
  • Support for margin trading. The ability to get instant credit at the right time is important for professional traders. In addition, this option allows you to have passive income by providing loans to other clients of the exchange.

It is far from always possible to work on only one cryptocurrency platform. Most miners and traders have 2 or 3 accounts on different services and switch between them depending on the situation on the overall market and individual trading platforms.

SIMPLE AND RELIABLE
MONEY WITHDRAWAL
Skrill
Neteller
Mastercard
Visa
Maybank
RHB Bank
Hong Leong Bank
CIMB Bank
Public Bank
AmBank
Astropay