Best trading platforms Malaysia 2022
The world's first cryptocurrency exchange was created by programmer Jed McCaleb.
At that time, in 2010, hardly anyone had heard of bitcoin, only blockchain enthusiasts mined digital gold. This exchange platform was called Mt. Gox.
On the first day 20 BTC were sold, and after 3 months the daily turnover exceeded 150,000 coins. The bidding was successful, but a year after the launch, the founder sold the finished project, losing interest in the development. Under the new owner, Mt. Gox has grown further, with 31,200 registered members in May 2011. Other cryptocurrency trading platforms followed, and Mt. Gox ceased to exist after a successful hacker attack in 2014.
Then 744,000 BTC were stolen from the site's deposits. I must say that this was not the first case of money loss, however, the exchange continued to operate, due to the total lack of competition. Today, the situation has changed, there are even too many online services and it is very difficult for an inexperienced user to determine the best cryptocurrency exchanges. In this article, we will tell you about the most popular sites and try to explain what aspects you should pay attention to mainly when choosing a site for trading virtual assets.
The best cryptocurrency exchanges according to their reliability
|Place in the rating||Name||Number of trading pairs.||Year of foundation|
The young and dynamically developing Binance platform opens the doors to the main cryptocurrency exchanges. Since the legendary Mt. Gox, no project has been so successful in such a short time.
Binance is a perfect example of how real cryptocurrency exchanges should look like. Initially, the resource did not work with fiat currency at all. Later, due to numerous requests from customers, an adjacent platform was opened Binance Jersey , which allows the exchange of cryptocurrencies for traditional currencies.
Daily turnover on the Binance cryptocurrency exchange averaged $1 billion and reached $4 billion at its peak.
Identity verification is required. There is a PC application, as well as a mobile app for Android and iOS. Leveraged spot and forward trading, P2P exchanges, cryptocurrency lending, deposits, betting 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 is one of the most secure cryptocurrency exchanges, with a wide range of trading tools and a user-friendly interface. The service is constantly expanding its range of services, offering traders additional opportunities to earn money.
Identity verification is always optional. A demo account is offered for beginners. You can trade on margin on spot and futures markets, earn passive income on cryptocurrency loans and work in the pool. In the Exchange Cloud section, anyone can try to create their own cryptocurrency exchange from scratch, customize the branding 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.
- Market types: spot, futures, perpetual swaps, options, cryptocurrency listing, indices, spreads.
- Deposit / withdrawal methods: Credit card, crypto wallet.
Huobi Global is a source with a wide range of trading tools and a unique intrusion protection system. It supports leveraged spot and futures trading as well as betting, including ETH 2.0, a free trading robot and OTC trading.
You can mine 7 digital assets in the mining pool. You can exchange cryptocurrencies for fiat money in the "Quick Buy/Sell" tab or on the P2P marketplace. The "Training" section contains many 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%.
Bitcoin exchange Coinmama is based in Israel. The platform was first launched in 2013, and its website claims to offer the ability to buy cryptocurrencies quickly and securely from anywhere in the world. In fact, it is present in almost every country in the world.
Coinmama appeared on the market in 2013. From the very beginning, the uniqueness of the company was the possibility to buy cryptocurrencies with a credit/debit card. Coinmama was the first to offer this option, which attracted many interested buyers and allowed it to quickly become one of the most popular exchanges in this segment.
Coinmama is a good choice for anyone who wants to buy Bitcoin or Ether quickly and securely by bank transfer or credit card. The site does not store purchased cryptocurrencies in internal wallets, but transfers them immediately to your personal wallet, which is great and makes you independent from any 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 is a P2P exchange to buy bitcoins for offline fiat currency, online e-money and some altcoins. It is considered a reliable platform for direct and decentralized exchange between trading parties. It allows you to buy bitcoins quickly through various convenient methods.
Localbitcoins is not like other exchanges. No centralized exchange is used on this platform. Buyers and sellers decide for themselves the price at which they want to buy or sell bitcoins and choose the exchange methods.
Exchange transactions with Localbitcoins can be conducted both online and in person at the seller's premises. The second option can be dangerous, as in this case the platform does not control the transaction process. Therefore, buying digital currency offline is not always the most profitable option.
As citizens of more than 200 countries work with the exchange, it is one of the largest cryptocurrency exchanges to buy cryptocurrencies with 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.
A simple and convenient exchange for cryptocurrency trading and betting. If you are satisfied with the daily withdrawal limit of 5 BTC, you can trade anonymously. For verified customers, the withdrawal limit is increased to 200 BTC and the leverage when trading futures can be up to 100x. The purchase of digital currency is possible via credit card and P2P section.
- 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.
Polonix cryptocurrency exchange is distinguished by its strict security standards and the presence of margin trading. You can receive credit for your trades or lend cryptocurrencies with interest to other users. The platform has a good selection of currency 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.
The Bitfinex cryptocurrency platform supports trading and margin trading, operates with traditional money and charges minimal commissions to traders with high turnover. The exchange has a good reputation among users. The 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.
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, short for Bitcoin Mercantile Exchange, is an advanced cryptocurrency trading and exchange platform. Unlike many cryptocurrency exchanges that trade one cryptocurrency for another, BitMEX focuses on derivatives trading: perpetual contracts, as well as daily and weekly futures contracts.
Cryptocurrency futures are an agreement to buy or sell the underlying asset (cryptocurrencies) at a predetermined price on 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 trading cryptocurrencies on margin. The company is constantly improving, adding new features and expanding the list of available assets. There is no need to undergo verification to work. Bitmex uses a multi-signature cold wallet to store client funds. All withdrawals are processed manually at a set time, once a day.
- 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 Exchange is one of the old hands in the cryptocurrency market. The service stands out for its high degree of reliability and impeccable reputation. Kraken is one of the first exchanges to have passed a cryptocurrency audit. Here you can exchange bitcoins for fiat currencies, including the Canadian dollar, and there are no "junk" currencies among virtual assets. The flexible audit system consists of four levels 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 service has been operating on the cryptocurrency market for 6 years. It is characterized by well-thought-out functionality, a wide selection 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.
Currently, the presented cryptocurrency 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, are not allowed to work there. Before starting the auction, you have to provide data about yourself and confirm them. Bitpanda verification is divided into 3 levels: bronze, silver and gold. Withdrawal limits depend on these levels.
The presented platform has many advantages and these are the ones that have made it so popular. Firstly, the support of the euro is a great advantage, as absolutely everyone is used to using cash. Secondly, the fees charged by the service remain low, which attracts merchants. Thirdly, not so long ago an affiliate program was launched. It allows you to earn money by attracting new users. Fourthly, fast registration is a great advantage. Fifth, the site has an intuitive interface and works 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's online platform combines wallet, exchange and trading tools in a single, easy-to-use interface. The main goal of its creators is to make Coinbase the world's first brand that helps people exchange digital currency for local currency and vice versa.
The service is attracting the attention of large companies 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's mission is to provide people with a simple and secure platform to buy and sell bitcoins. The company is registered under U.S. law (Delaware) as a money transfer operator with the U.S. Treasury Department's Financial Crimes Enforcement Network.
Paxful, like LocalBitcoins, is a peer-to-peer cryptocurrency platform where users transact with each other. Like most similar platforms, Paxful does not store funds and acts as an intermediary for users. Paxful helps connect buyers and sellers thanks to support for more than 300 different payment methods.
On Paxful, you can sell bitcoins by setting your price and choosing the payment method.
The platform supports its own mobile wallet (Paxful Wallet), which is available on iOS and Android and facilitates sending, receiving and storing bitcoins, as well as tracking open transactions 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 be long. How to choose the service that suits you best?
What should I look for when choosing a trading platform?
First of all, you need to decide which digital assets you are going to work with. Popular coins such as ETH, ETC, XRP are traded on most exchanges, while young projects on no more than two, three or usually one site, and then the choice is already obvious. If you have several options, pay attention first 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 all users. Experienced operators 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 not always possible to work on a single cryptocurrency platform. Most miners and traders have 2 or 3 accounts on different services, switching between them depending on the market situation as a whole and on each trading platform separately.