Cryptocurrency platforms Malaysia 2022
The world's first cryptocurrency exchange was founded by programmer Jed McCaleb.
Back in 2010, hardly anyone had heard of Bitcoin, only blockchain enthusiasts were mining digital gold. This 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 bid was successful, but a year after the launch, the founder sold the finished project and lost interest in the development. Under the new ownership, Mt. Gox saw even higher growth, with 31,200 registered members in May 2011. Other cryptocurrency platforms followed, and Mt. Gox ceased to exist after a successful hacking attack in 2014.
As a result, 744,000 BTC were stolen from the website's deposits. I must say that this was by no means the first case when money was lost, and yet the exchange remained in operation because there was no competition. Now the situation has changed, there are even too many websites and it is very difficult for an inexperienced user to identify the best cryptocurrency exchanges. In this article we will introduce you to popular websites and try to explain what aspects you should pay attention to first when choosing a website for exchanging virtual assets.
The best cryptocurrency exchanges by reliability level
|Place in review||Name||Number of trading pairs||Year of foundation|
TOP cryptocurrency exchanges are opened by the young and very dynamically developing platform Binance. Since the legendary Mt. Gox, no project has achieved such overwhelming success in such a short time.
Binance is a perfect example of what cryptocurrency exchanges should look like in the real world. Initially, the source did not work with fiat money at all. Later, due to numerous customer requests, a neighboring platform Binance Jersey was opened to exchange cryptocurrencies for traditional currencies.
The daily turnover of the cryptocurrency exchange Binance averaged one billion US dollars and reached four billion at its peak.
Identity verification is required. A PC app is available, as well as a mobile app for Android and iOS. Leveraged spot and futures trading, P2P exchanges, cryptocurrency loans, deposits, strikes, 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 offer and providing traders with additional ways to make money.
Identity verification is still optional. There is a demo account for beginners. You can trade on margin on the spot and futures markets, earn passive income from cryptocurrency loans, and work in the pool. In Exchange Cloud, anyone can try to build their own cryptocurrency exchange from scratch and customize the branding for different web platforms and 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 resource with a wide range of trading tools and a unique hack protection system. It supports leveraged spot, futures and strike trading, including ETH 2.0, a free trading bot and OTC trading.
7 digital assets can be mined in the mining pool. You can trade cryptocurrencies for fiat on the "Quick Buy/Sell" tab or on the P2P market. In the "Training" section you will find 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%.
The Coinmama bitcoin exchange is based in Israel. The platform was launched in 2013 and you can read on its website that it offers the possibility to buy cryptocurrency quickly and safely from anywhere in the world. In fact, it works in almost every country in the world.
Coinmama came to the market in 2013. From the very beginning, the company's distinctive feature 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 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 safely via bank transfer or credit card. The website does not store the purchased cryptocurrency 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 is a P2P exchange for buying bitcoin against offline fiat money, online electronic money and some altcoins. It is considered a reliable platform for direct decentralized exchange between trading partners. You can buy Bitcoin quickly and conveniently through a variety of methods.
Localbitcoins is not like other exchanges. No central exchange rate is used on this platform. Sellers and buyers decide at what price they want to sell or buy bitcoin and choose their own exchange methods.
Exchanges with Localbitcoins can be done either online or in person at the seller's place. The second option can be dangerous, because in this case the platform does not monitor the progress of the transaction. Therefore, buying digital currencies offline is not always the most profitable option.
With citizens from over 200 countries working on this exchange, it is one of the largest exchanges for buying cryptocurrencies with fiat money.
- 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 trading cryptocurrencies and stakes. 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 is increased to 100x when trading futures. Buying digital currency is possible via a credit card and 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.
Polonix cryptocurrency exchange is characterized by its strict security rules and the presence of margin trading. You can take loans for trading or lend cryptocurrencies to other users for interest. The platform offers a good selection of currency pairs and a mobile app.
- 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 exchange and margin trading, works with traditional money and charges minimal fees for high-volume traders. The exchange enjoys a good reputation among its users. The Bitfinex website is 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 trading platform and exchange for cryptocurrencies. Unlike many cryptocurrency exchanges that trade one cryptocurrency for another, BitMEX focuses on trading derivatives: open-ended contracts as well as daily and weekly futures contracts.
Cryptocurrency futures are an agreement to buy or sell the underlying asset (cryptocurrency) at a predetermined price on a specific date in the future.
Perpetual contracts - Similar to futures contracts except they do not have an expiration date or term.
BitMEX is a trusted cryptocurrency exchange for advanced users interested in margin trading cryptocurrency derivatives. The company is constantly improving, adding new features and expanding the list of available assets. You do not need to be verified to work. Bitmex uses multi-signature and cold wallets to store clients' money. All withdrawals are processed manually once a day at a certain 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 exchange is one of the old hands on the cryptocurrency market. It features 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 coins, including the Canadian dollar, and there are no "junk coins" 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 service has been operating on the cryptocurrency market for 6 years. It features 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.
Currently, the presented cryptocurrency exchange is considered one of the most reliable in the world and is aimed at traders from European countries. For example, American citizens cannot work on it. Before you start the auction, you need to provide information about yourself and confirm it. Bitpanda verification is divided into 3 levels: Bronze, Silver and Gold. The withdrawal limits depend on these levels.
The presented platform has numerous advantages that ensure its great popularity. First, the support of the euro is a big plus, as absolutely everyone is used to using fiat money. Secondly, the fees charged by the service are low, which is attractive for entrepreneurs. Third, an affiliate program was introduced not too long ago. You can use it to earn money by recruiting new users. Fourth, the quick registration is a definite plus. Fifth: The website 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 online platform combines wallet, exchange and trading tools in one simple interface. The main goal of the developers is to make Coinbase a leading global brand that helps people convert digital currency to local currency and vice versa.
The service is attracting attention from major corporations and has been mentioned by financial observers at 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 Bitcoin. The company is registered under the laws of the United States (Delaware) as a money transmitter with the Financial Crimes Network of the US Department of the Treasury.
Like LocalBitcoins, Paxful is a peer-to-peer cryptocurrency platform where users transact with each other. Like most similar platforms, Paxful does not store money and acts as an intermediary for its 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), which is available on iOS and Android and makes it easy to send, receive and store Bitcoin and track 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 go on forever. How can you choose the right service for you?
What should you look for when choosing a trading platform?
First of all, you need to decide which digital assets you want to work with. Popular coins like ETH, ETC, XRP are traded on most exchanges and young projects on no more than two, three or usually on one side and then the choice is already clear. If you have several options, pay particular 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 not always possible to work only on one cryptocurrency platform. Most miners and traders have 2-3 accounts on different services and switch between them depending on the situation both on the market as a whole and on each trading platform.