Platforms to invest in cryptocurrencies Malaysia 2022
The world's first cryptocurrency exchange was founded by programmer Jed McCaleb.
So in 2010, few people 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 trading volume exceeded 150,000 coins. Trading went well, but a year after the launch, the founder sold the finished project as he lost interest in further development. Under the new ownership, Mt Gox saw even higher growth rates and registered 31,200 members in May 2011. After that, other cryptocurrency exchanges emerged and Mt Gox ceased to exist after a successful hacker attack in 2014.
Thus, 744,000 BTC were stolen from the deposits of the service. This was not the first case when the exchange lost money, but thanks to the complete absence of competitors, it continued to function. Now the situation has changed, there are many sites on the Internet and it is very difficult for an inexperienced user to find the best cryptocurrency exchanges. In this article we will introduce popular services and try to explain what aspects you should pay attention to when choosing a site for exchanging virtual goods.
Cryptocurrency exchanges by reliability rating
|Position in the overall standings||Name||Number of trading pairs||Year of foundation|
The best cryptocurrency exchanges come from Binance, a young and fast-growing platform. Since the legendary Monte Gox, no project has achieved such overwhelming success in such a short time.
Binance is a good example of what real cryptocurrency exchanges should look like. Originally, the resource did not work with trust funds in any way. Later, in response to numerous customer requests, a related platform, Binance Jersey, was opened for the exchange of cryptocurrencies into traditional currencies.
Daily trading volume on the Binance cryptocurrency exchange averaged one billion U.S. dollars and reached four billion at the peak of trading.
Identity verification is required. There is both a PC app and a mobile app for Android and iOS. Spot and futures trading, P2P exchanges, cryptocurrencies, deposits, interest, and other financial products are supported. There is a pool for mining 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 reliable crypto exchanges with a wide range of trading instruments and a user-friendly interface. The service is constantly expanding its offer and providing traders with additional earning opportunities.
The verification of identity remains optional. A demo account is available for beginners. You can trade on margin on the spot and futures markets, earn passive income with crypto credits and work in a pool. In Exchange Cloud, anyone can try to build their own crypto exchange from scratch and adapt it to 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 protection system against hacking. It supports spot and futures trading and stacking, including ETH 2.0, a free trading bot and OTC trading.
You can mine 7 digital assets in a mining pool. You can exchange cryptocurrencies for fiat in 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 bitcoin exchange Coinmama is based in Israel. The platform was launched in 2013 and, according to its website, it 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 came to 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 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 fiat money offline, electronic money online and some altcoins. It is considered a reliable platform for direct and decentralized exchange between transaction parties. It allows you to buy Bitcoin quickly using 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 made either online or by meeting the seller in person. The second option may not be secure as the platform has no control over 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 cryptocurrency exchanges for buying cryptocurrency 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 cryptocurrencies and betting. 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 for futures trading reaches 100 times. Digital currencies can be purchased with a credit card and through a 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 is a cryptocurrency exchange with strict security rules and margin trading. You can borrow to trade 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 crypto platform supports exchange and margin trading, works with traditional money and charges minimal fees to 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 crypto exchanges that trade one cryptocurrency for another, BitMEX focuses on trading derivatives: open-ended contracts and daily and weekly futures.
Futures contracts on cryptocurrencies are an agreement to buy or sell an underlying asset (cryptocurrency) at a predetermined price on a specific date in the future.
Perpetual futures contracts are similar to futures, except they do not have an expiration or maturity date.
BitMEX is a reliable cryptocurrency exchange for experienced 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 operate. Bitmex uses multi-signature wallets and cold wallets to store customer funds. All withdrawals are processed manually at a specified 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 is one of the veterans on the cryptocurrency market. The service is extremely reliable and has an impeccable reputation. Kraken is one of the first exchanges to undergo a crypto audit. Here you can exchange Bitcoins for fiat money, including the Canadian dollar, and there are no "undesirable" currencies among the virtual goods. A flexible verification system consists of four stages 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 in the crypto industry for six years. It stands out for its well-designed functionality and 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.
The presented cryptocurrency exchange is currently considered one of the most reliable in the world and is intended for traders from European countries. Citizens of the United States, for example, cannot work on it. Before you start the auction, you need to provide and verify your data. 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, the big advantage is that it supports the euro because absolutely everyone is used to using fiat money. Second, the fees for the service remain low, which attracts traders. Third, an affiliate program was introduced not too long ago. This allows you to earn money by attracting new users. Fourth, the obvious advantage is quick registration. 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's online platform combines wallets, exchange tools and trading tools into one simple interface. The main goal of its creators 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 highlighted 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 Bitcoin. The company is registered under US law (Delaware) as a money transfer company with the US Treasury Department's Financial Crimes Enforcement Network.
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.
On Paxful you can sell Bitcoins by setting your own 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 easily and conveniently, 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 to 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, and then the choice is obvious. 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 only on one crypto platform. Most miners and traders have 2-3 accounts on different services, which they switch between depending on the situation both on the market in general and on individual trading platforms.