Platforms to buy cryptocurrencies Malaysia 2022
The world's first cryptocurrency exchange was created by programmer Jed McCaleb.
At that time, in 2010, few people had heard of bitcoin, only blockchain enthusiasts were miners of digital gold. This exchange platform was called Mt. Gox.
20 BTC were sold on the first day, 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, losing interest in the development. Under a new owner, Mt. Gox had even higher growth rates, registering 31,200 members by May 2011. Other cryptocurrency trading platforms then emerged, and Mt. Gox ceased to exist after a successful hacking attack in 2014.
So 744,000 BTC were stolen from the service's deposits. It has to be said that this was not the first time that money was lost, but the exchange continued to function thanks to the total absence of competitors. Now that the situation has changed, there are even too many websites, and it is very difficult for an inexperienced user to find the best cryptocurrency exchanges. In this article, we will tell you about the popular services and try to explain which aspects you should pay attention to first when choosing a virtual exchange website.
The best cryptocurrency exchanges according to their reliability
|Ranking||Name||Number of trading pairs.||Year of foundation|
The leading cryptocurrency exchanges come from Binance, a young and rapidly growing platform. Not since the legendary Mt. Gox has it had such a successful project in such a short time.
Binance is a great example of what true cryptocurrency trading should look like. Initially, 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.
Daily trading volume on the cryptocurrency exchange averaged $1 billion and reached $4 billion at the peak of trading.
Identity verification is required. There is a PC app as well as a mobile app for Android and iOS. Spot and forward trading, P2P exchanges, cryptocurrencies, deposits, betting, and other financial products are supported. There is a pool for BTC and Ethereum mining.
- 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 scope of activity, offering traders additional earning opportunities.
Identity verification is always optional. A demo account is available for beginners. You can do margin trading in the spot and futures markets, earn passive income on crypto loans, and work in a pool. In Exchange Cloud, everyone can try to create their own crypto exchange from scratch, creating a 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 that offers a wide range of trading tools and a unique anti-piracy system. It supports spot and leveraged 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 the cryptocurrency for fiat in the Quick Buy/Sell account or in the P2P marketplace. You will find many useful articles for beginners in the "Training" section, 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%.
Bitcoin exchange Coinmama is based in Israel. The platform was first launched in 2013, and its website claims that it offers the ability 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, the uniqueness of the company was its ability 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 securely via bank transfer or credit card. The site does not store purchased cryptocurrencies in internal wallets, but immediately transfers the coins to your personal wallet, which is great and makes you independent of 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 for buying bitcoins for offline fiat currency, 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 quickly buy bitcoins using a variety of convenient methods.
Localbitcoins is not like other exchanges. This platform does not use a centralized exchange rate. Buyers and sellers determine the price at which they want to buy or sell bitcoins and choose the exchange methods.
Exchange transactions with Localbitcoins can be done online or in person with the seller. The second option can be insecure, as in this case the platform has no control over the transaction process. Therefore, buying digital currency offline is not always the most cost-effective option.
With citizens from over 200 countries working with the exchange, it is one of the largest cryptocurrency exchanges for buying cryptocurrencies for 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 and betting on cryptocurrencies. If you are satisfied with the daily limit of 5 BTC, you can trade anonymously. For verified customers, the withdrawal limit is increased to 200 BTC and the leverage for futures trading can be up to 100x. The digital currency can be purchased using a credit card and a 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 is a cryptocurrency exchange with strict security and margin trading rules. You can take credit to trade or lend cryptocurrencies to other users, with interest. The platform has a good selection of exchange 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 crypto platform supports margin trading and transactions, works with traditional money, and charges minimal fees 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 advanced trading and exchange platform for cryptocurrencies. Unlike many cryptocurrency exchanges that trade one cryptocurrency for another, BitMEX focuses on trading derivatives: perpetual contracts, as well as daily and weekly futures.
Cryptocurrency futures are an agreement to buy or sell an underlying asset (cryptocurrency) at a predetermined price at a certain date in the future.
Perpetual contracts are similar to futures, only they have no expiration or maturity.
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 cold wallets with multiple signatures to store client funds. All withdrawals are processed manually, at a given 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.
The Kraken exchange is one of the old hands of the cryptocurrency market. It is distinguished by its high degree of reliability and impeccable reputation. Kraken is one of the first exchanges to undergo a crypto audit. 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 has been on the crypto market for six years. It distinguishes itself by its well-thought-out functionality and a 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.
It is currently considered one of the most trusted crypto exchanges in the world and is aimed at traders from European countries. Citizens of the United States, for example, cannot work on it. You have to provide and verify your data before starting the auction. Bitpanda verification is divided into 3 levels: bronze, silver and gold. The withdrawal limits depend on these levels.
There are many advantages of the platform, and it is these that have made it so popular. Firstly, the support of the euro is a great advantage, as absolutely everyone is used to using fiat currency. Secondly, the fees charged for the service remain low, which attracts traders. Thirdly, an affiliate program was launched not long ago. You can use it to earn money by attracting new users. Fourth, the speed of registration is a definite 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 one simple interface. The main goal of its creators is to make Coinbase the first global brand to help people convert digital currency into local currency and vice versa.
It is a service that has attracted the attention of large companies and has been highlighted by financial observers in 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 US (Delaware) law as a money transfer operator with the US 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 platforms, Paxful does not store funds and acts as an intermediary for users. Paxful helps connect buyers and sellers by supporting over 300 different payment methods.
At Paxful, you can sell bitcoins, setting your own price and choosing your own payment method.
The platform supports its own mobile wallet (Paxful Wallet), available on iOS and Android, and makes it simple and easy to 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 service that suits you best?
What to look for when choosing a trading platform
First of all, you have to decide which digital assets you are going to work with. Popular currencies like ETH, ETC, XRP are traded on most exchanges, while young projects on no more than two or three or usually a service, and then the choice is obvious. If you have several options, consider the following aspects first:
- 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 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 cryptocurrency platform. Most miners and traders have 2 or 3 accounts on different services, switching between them depending on the situation both in the overall market and on each trading platform separately.