Major cryptocurrency exchanges Malaysia 2022
          

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

In 2010, few people had heard of Bitcoin, only blockchain enthusiasts were mining digital gold. That trading platform was called Mt. Gox.

On the first day, 20 BTC were sold, and after 3 months the daily trading volume exceeded 150,000 coins. The business was doing well, but a year after the launch, the founder sold the finished project, as he lost interest in developing it further. Under the new owner, Mt. Gox had even higher growth rates: by May 2011, it had 31,200 registered participants. After that, other cryptocurrency exchanges emerged and Mt. Gox ceased to exist after a successful hacker attack in 2014.

At that time, 744,000 BTC were stolen from the service's deposits. It was not the first time that money was lost, but the exchange continued to operate because there were no competitors. Now that the situation has changed, there are even many websites on the Internet, and it is very difficult for an inexperienced user to determine the best cryptocurrency exchanges. In this article, we will introduce you to the popular services and try to explain what aspects you should look for first when choosing a virtual goods exchange website.

Best cryptocurrency exchanges according to reliability rating

Ranking Name Number of trading 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

The major cryptocurrency exchanges are opened by a young and very fast-growing platform, Binance. Since the legendary Mt. Gox, no project has achieved such overwhelming success in such a short time.

Binance is a shining example of what real cryptocurrency exchanges should look like. Originally, it did not work with fiat money. Later, in response to numerous customer requests, a related platform, Binance Jersey, was opened to exchange cryptocurrencies for traditional currencies.

The daily turnover of the cryptocurrency exchange averaged one billion US dollars and reached four billion at its peak.

Identity verification is required. There is a PC app and a mobile app for Android and iOS. It supports spot and leveraged futures trading, P2P exchanges, cryptocurrencies, deposits, betting, and other financial products. 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 crypto exchanges with a wide range of trading tools and a user-friendly interface. The service is constantly expanding its offering and providing traders with additional earning opportunities.

Identity verification remains optional. A demo account is available for beginners. You can trade on margin in the spot and futures markets, earn passive income with crypto credits, and work in a pool. In Exchange Cloud, anyone can try to create their own crypto exchange from scratch, create brands 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 tools and a unique hack protection system. It supports trading and stacking of spot and leveraged futures, including ETH 2.0, a free trading fund, and OTC trading.

You can mine 7 digital assets in the mining pool. You can exchange cryptocurrencies for fiat in the Quick Buy/Sell tab or in the P2P marketplace. In the "Training" section, you will find many useful articles for beginners, but you will have to translate them yourself into Russian.

  • 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

Bitcoin exchange company Coinmama is based in Israel. The platform was launched in 2013 and, according to its website, offers the possibility to buy cryptocurrencies quickly and securely from anywhere in the world. In fact, it operates in almost every country in the world.

Coinmama entered the market in 2013. From the beginning, its uniqueness was the possibility to buy cryptocurrencies with a credit/debit card. Coinmama was the first exchange to offer this option, which attracted many interested buyers, and 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 cryptocurrency in internal wallets, but immediately transfers the coins 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

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 and decentralized exchange between the parties involved in the transaction. This allows you to buy Bitcoin quickly and through a variety of convenient methods.

Localbitcoins is not like other exchanges. This platform does not use a centralized exchange rate. Sellers and buyers decide for themselves at what price they want to sell or buy bitcoin and choose the exchange methods.

Exchanges with Localbitcoins can be done online or in person with the seller. The second option may not be secure, as the platform has no control over the transaction. Therefore, buying digital currencies offline is not always the most profitable option.

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

KuCoin

A simple and convenient exchange for trading cryptocurrencies and betting. If you are satisfied with the daily limit of 5 BTC, you can trade anonymously. For verified customers, the payment limit increases to 200 BTC and the leverage for futures trading reaches 100 times. The digital currency can be purchased with a credit card and in 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 is a cryptocurrency exchange with strict security and margin trading rules. You can borrow to trade cryptocurrencies or lend them 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.

Bitfinex

The Bitfinex crypto platform supports exchange and margin trading, works with traditional money, and sets minimal commissions for traders with high turnover. 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.

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 crypto exchanges that trade one cryptocurrency for another, BitMEX focuses on trading derivatives: open-ended contracts and daily and weekly futures.

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

Perpetual contracts are 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 trade. Bitmex uses multiple signatures and cold wallets to store client funds. All withdrawals are processed manually, once a day, at a given 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 is one of the old hands in the cryptocurrency market. The service has a high level of reliability and an impeccable reputation. Kraken is one of the first approved exchanges for cryptocurrencies. Here you can exchange Bitcoins for fiat currencies, including the Canadian dollar, and there are no "undesirable" currencies among the virtual goods. A flexible verification system consists of four levels and is required 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 has been in the crypto industry for six years. It stands out for its well-designed functionality and its wide range of trading instruments and currency pairs. Identity verification is only required 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

It is currently considered one of the most trusted crypto exchanges in the world and is aimed at traders from European countries. US citizens, for example, are not allowed to work there. Before you can start trading, you need to provide and verify your login details. Bitpanda verification is divided into three levels: Bronze, silver and gold. The withdrawal limits depend on these levels.

The platform offers many advantages that have made it so popular. First of all, the euro support is a big advantage, because absolutely everyone is used to using fiat money. Secondly, the service fees are low, which attracts traders. Thirdly, an affiliate program was introduced not long ago. This allows you to earn money by attracting new users. Fourth, the quick registration is a definite advantage. 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

Coinbase's online platform combines wallet, exchange and trading tools in one simple interface. The main goal of its creators is to make Coinbase a leading 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 highlighted 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

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

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

At Paxful you can sell Bitcoins, setting your own price and choosing your payment method.

The platform supports its own mobile wallet (Paxful Wallet), which is available on iOS and Android and allows you to easily and conveniently send, receive, and store Bitcoins, as well as track 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 and on. How do 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 currencies like ETH, ETC, XRP are traded on most exchanges, while young projects are traded on no more than two or three or even just one service. 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 guidelines 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 a single crypto platform. Most miners and traders have 2-3 accounts on different services, which change according to the situation of both the overall market and the individual trading platforms.

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