Cryptocurrency trading platform Malaysia 2022
The world's first crypto-currency exchange was founded by programmer Jed McCaleb.
In 2010, few people had heard of bitcoin, and only blockchain enthusiasts were mining the digital gold. This exchange 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 auction went well, but a year after the launch, the founder sold the completed project and lost interest in developing it further. Under its new owner, Mt. Gox experienced even higher growth rates, with 31,200 registered members in May 2011. Then other crypto-currency exchanges emerged and Mt. Gox ceased to exist after a successful hack in 2014.
Then 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 still continued to operate because there were no competitors. Today, the situation has changed, there are even too many websites and it is very difficult for an inexperienced user to determine the best crypto-currency exchanges. In this article, we will introduce you to popular services and try to explain the aspects you should pay attention to when choosing a website for exchanging virtual assets.
The best crypto-currency exchanges based on their reliability
|Location in the journal||Name||Number of trading pairs||Year of creation|
The TOP crypto-currency exchange is opened by the young and dynamically developing platform Binance. Not since the days of the legendary Mt. Gox has a project been so successful in such a short time.
Binance is a great example of what real-life crypto-currency exchanges should be like. Originally, the source did not work with fiat currency at all. Later, due to the many customer requests, an adjacent Binance Jersey platform was opened to exchange crypto-currencies for traditional currencies.
The daily turnover of the crypto-currency exchange Binance averaged one billion US dollars and reached four billion at the peak of trading.
Identity verification is required. A PC app is available, as well as a mobile app for Android and iOS. Leveraged trading on spot and futures markets, P2P trading, crypto loans, 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 safest crypto-currency exchanges, with a wide range of trading tools and a user-friendly interface. The service is constantly expanding and offers traders additional earning opportunities.
Identity verification is always optional. There is a demo account for beginners. You can trade on margin on spot and futures markets, earn passive income with crypto-currency loans and work on a pool. In the Exchange Cloud section, anyone can try building their own crypto-currency exchange from scratch and customize the brand 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 resource with a wide range of trading tools and a unique security system against hacking. Supports leveraged spot and futures trading and strike, including ETH 2.0, free trading robot and OTC trading.
7 digital assets can be mined in the mining pool. You can exchange crypto-currencies for fiat on the "Quick Buy/Sell" tab or on the P2P marketplace. 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 bitcoin exchange Coinmama is based in Israel. The platform was launched in 2013 and, according to its website, it offers the ability to buy crypto-currencies quickly and securely 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 unique feature 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 thus quickly became 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 via bank transfer or credit card. The site does not store the purchased crypto-currencies in internal wallets, but transfers the coins immediately to your personal wallet, which is very good and makes you independent of 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 bitcoins for offline fiat currency, online e-currency and some altcoins. It is considered a reliable platform for direct and decentralized exchange between parties to a transaction. You can buy bitcoins quickly with it, using various convenient methods.
Localbitcoins is not like other exchanges. No central exchange rate is used on this platform. Buyers and sellers decide the price at which they sell or buy bitcoins and choose the exchange methods themselves.
The exchange with Localbitcoins can be done either through the Internet or in person at the seller's premises. The second option can be dangerous, as in this case the platform has no control over the course of the transaction. Therefore, buying 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 crypto-currency exchanges for buying crypto-currencies 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.
A simple and convenient exchange for trading crypto-currencies 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. It is possible to buy digital currency with a credit card and through the 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.
The Polonix crypto currency exchange features strict security rules and the presence of margin trading. You can take out a loan to trade a cryptocurrency or lend it to other users for interest. The platform has 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 crypto platform Bitfinex supports trading and margin trading, works with traditional money and charges a minimum fee for high turnover traders. The exchange enjoys a good reputation among 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 exchange platform and advanced exchange for crypto-currencies. Unlike many crypto-currency exchanges that trade one crypto-currency for another, BitMEX focuses on trading derivatives: open-ended contracts and daily and weekly futures.
Crypto-currency futures are an agreement to buy or sell an underlying asset (crypto-currencies) at a predetermined price at a specific date in the future.
Perpetual Contracts - Similar to futures, except they have no expiration or end date.
BitMEX is a trusted crypto-currency exchange for advanced users interested in margin trading of crypto derivatives. The company is constantly improving, adding new features and expanding the list of available assets. No authentication is required to operate. Bitmex uses multi-signature and cold wallets to store customers' money. 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 Exchange is one of the old hands of the crypto-currency market. The service is characterized by a high degree of reliability and an impeccable reputation. Kraken is one of the first exchanges to pass a crypto-currency audit. You can exchange bitcoins for fiat currencies, including the Canadian dollar, and there are no "junk coins" among the virtual assets. The flexible verification system consists of four steps 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 in the crypto industry market for 6 years. It offers well-designed features, 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 crypto-currency exchange is considered one of the most reliable in the world, and is aimed at traders from European countries. American citizens, for example, can not work there. Before the start of the auction, you need to provide and confirm your information. Bitpanda verification is divided into 3 levels: Bronze, Silver and Gold. The limits for withdrawing money depend on these levels.
The presented platform has many advantages, which made it so popular. First of all, the support of the euro is a big plus, because everyone is used to working with cash. Second, the fees charged by the service are low, which attracts merchants. Thirdly, an affiliate program was launched not long ago. Through this program, you can earn money by recruiting new users. Fourth, a clear advantage is the quick registration. Fifth, the website has an intuitive user 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 into one simple interface. The main goal of the 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 the attention of major corporations and has been mentioned several times by financial observers in the pages of Bloomberg, the New York Times and other media.
- 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 an easy and secure platform to buy and sell bitcoins. The company is registered under United States (Delaware) law as a money transmission company in the Financial Crimes Network of the United States Department of Treasury.
Paxful, like LocalBitcoins, is a peer-to-peer crypto-currency platform where users transact with each other. Like most similar platforms, Paxful does not hold funds and acts as a middleman for users. Paxful brings buyers and sellers together and supports 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 on iOS and Android, which allows you to send, receive and store bitcoins, as well as track open transactions on Paxful, in a simple and straightforward way.
- 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 do you choose the right one for you?
What should you consider when choosing a trading platform?
First of all, you need to decide what kind of digital assets 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 one service, and then the choice is already clear. If you have several options, you should pay special 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 on only one crypto currency platform. Most miners and traders have 2 or 3 accounts on different services, which they switch between depending on the situation, both on the market as a whole and on each individual trading platform.