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Buy Bitcoin (BTC) in Malaysia with MYR with Lowest Fees
Buy Bitcoin (BTC) in Malaysia with MYR with Lowest Fees
Do you want to purchase Bitcoin in Malaysia? Changelly crypto exchange platform is the perfect choice. Enjoy low trading fees, the acceptance of Malaysian Ringgit, credit and debit card payments for cryptocurrencies, unbeatable security, and the possibility of instant purchases. Take advantage of Apple Pay and bank transfers to get your crypto shopping started! With Changelly, you're getting the most reputable crypto exchange service in Malaysia! Buy Bitcoin, Bitcoin Cash, Ethereum, and tons of other cryptos quickly, securely, and enjoy all the perks that come with being a Changelly customer. Start your journey today and sign up now for a Changelly account. Get the most out of your cryptocurrency experience!
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updated at 14:42How to buy Bitcoin in 5 easy steps
Set your purchase pair
Select the crypto you’d like to purchase. Next, choose the local currency you want to buy crypto with and your country of residence. Compare the best offers and choose the one that suits you most.
Provide your crypto wallet address
Enter your crypto wallet address in the required field. Double-check your unique crypto wallet address to make sure it is correct.
Verify your identity
Verify your identity with the provider you've chosen to buy crypto with. This is the best way to make sure that the payment information is only yours.
Confirm your payment
Confirm your payment and have your purchased cryptocurrency delivered to your crypto wallet in several minutes.
Welcome your crypto
As soon as the payment goes through, your coins will be credited to your wallet address.
Payment methods to buy Bitcoin
Bank transfer
A bank transfer is a secure option to buy cryptocurrency, especially if you are thinking of purchasing large amounts of virtual currency. Keep in mind that bank transfers may take a little longer, and fees may vary.
Apple Pay and Google Pay
Apple Pay and Google Pay are the quickest ways to buy BTC with a credit or a debit card from your iOS or Android device.
Credit or Debit Card
Credit or debit card payment is one of the effortless ways to buy BTC and other cryptocurrencies in a fast and secure manner. With Changelly, you can use a Visa or a Mastercard credit card issued in your local currency.
Buy Bitcoin Without Any Hassle
Purchase your crypto with any payment method that suits you best. Start buying with as little as 30 USD or your local currency equivalent.
Why buy Bitcoin on Changelly?
Secure
We take a comprehensive security approach to ensure your crypto investments and identity are safe. We provide quick crypto purchases to more than 2.6 million users every month.
24/7 support
Got any questions? We've got all the answers. Changelly offers personal support to each and every user. We are here to help you 24/7 with any challenges that you might face using our services.
Fast
Get any of the 500+ supported cryptocurrencies in mere minutes with just a few clicks and at the best rates on the market.
All premium offers in one spot
We aggregate crypto offers from a variety of fiat payment providers so that you can always find the very best one.
FAQ
How is The Price of Bitcoin Determined?
Bitcoin is a decentralized digital currency that has become a popular investment and payment method around the world. But have you ever wondered how Bitcoin’s price is determined? Understanding this can be essential for anyone interested in investing in Bitcoin.
Market Supply and Demand
Like any other traded asset, the price of Bitcoin is mainly affected by supply and demand. If there is more demand than supply, then the price will rise. Conversely, if there is more supply than demand, then the price will fall. When people buy or sell Bitcoin on a digital asset exchange, they are contributing to its supply and demand equation.
Mining Rewards
Another factor that can put a pressure on the price of Bitcoin is mining rewards. New Bitcoins are created when miners solve complex mathematical equations that record transactions on a blockchain. As miners get rewarded with newly generated BTC coins for their work, Bitcoin mining activity can impact the supply of BTC coins available on the market.
Media Attention
The media plays a pivotal role in creating hype around Bitcoin's value proposition, which can attract new investors into buying it or selling their existing coins. Positive coverage from mainstream media outlets, such as CNBC or Bloomberg News, can trigger mass interest, while negative coverage, such as reports of scams or hacker attacks, might lead to temporary dips in Bitcoin's price.
Regulation
Government regulations have a direct influence on cryptocurrency prices. Any tangible news regarding possible bans or restrictions may result in widespread panic selling by investors, leading to a decline in prices.
Can I Buy Less Than 1 Bitcoin?
Buying less than 1 Bitcoin is possible. The smallest amount you can purchase, known as a "Satoshi," equals 0.00000001 Bitcoin because each Bitcoin coin consists of 100 million tiny particles. Buying any fractional amount of Bitcoin greater than 1 Satoshi is feasible. There are exchanges and services, like Changelly, that allow this purchase. If you want to buy smaller amounts of Bitcoin, it's an easy process!
Where To Store Your Bitcoins?
One important aspect of Bitcoin ownership is selecting the right place to store it. With no physical location or backing by a government, ensuring secure storage becomes crucial. Here are some options for where to store Bitcoin funds.
Hardware Wallets
Hardware wallets are physical devices, such as USB drives, that can be used to store private keys associated with your Bitcoin wallet. These devices often have higher security measures than other storage options because they are not connected to the Internet, which is why they are often named cold wallets. They offer superior protection against hacking and web-based attacks but do require you to purchase equipment.
Desktop Wallets
A desktop wallet usually requires installation on a computer or laptop and stores Bitcoin directly on the device's hard drive. While these wallets are typically more secure than online wallets, users who choose this option will also be responsible for keeping their device safe from damage and theft. Desktop wallets come with various features such as enhanced privacy, encryption capabilities, and multi-signature authorization.
Online Wallets
Online wallets are software applications that hold your private key information on remote servers controlled by third-party service providers. They are hot wallet products because of their constant connectivity to the Internet. Users choose these types of services because they're convenient and accessible from anywhere with an internet connection—like a mobile app—making spending easier while still being able to control their funds at all times. However, online wallets may have vulnerabilities that make them susceptible to hacking attempts.
When choosing where to store Bitcoin, you should consider factors like ease of use, convenience, security, privacy level required amongst other considerations unique to your situation before choosing a method. Make sure the selected product can best fit your needs and preferences better than others available options in this space today.
Which Bitcoin Wallet Can I Use?
Bitcoin has become a popular choice for investment and online transactions, therefore it is important to keep your Bitcoin wealth safe from hackers and theft. One of the ways to do so is by using a reliable Bitcoin wallet. Here's a list of some of the best crypto wallet brands in the market that you can consider:
Ledger Nano X
The Ledger Nano X is a well-known hardware wallet for storing Bitcoin. It supports other cryptocurrencies too and has Bluetooth connectivity for mobile devices. Your private keys are securely stored offline, making it resistant to hacking attempts.
Trezor Model T
Trezor Model T is another popular crypto cold wallet product that supports multiple cryptocurrencies, including Bitcoin. The device features a touchscreen display and supports two-factor authentication, which enhances security when withdrawing funds.
Exodus
Exodus is popular among users who prefer a software wallet with an intuitive user interface that is easy to navigate. It allows you to store your crypto assets directly on your computer or mobile device, providing you with full control over your private keys.
Electrum
One of the oldest Bitcoin wallets available, Electrum provides advanced security features to protect your funds from theft or unauthorized access. You can choose between different types of encryption methods for additional levels of data protection.
Choosing the right Bitcoin wallet brand can be challenging given there are many options available in the market today. However, selecting one that meets your needs will provide better assurance towards keeping your investments secure from scammers or cybercriminals looking for easy prey online.
Got any questions about the BTC purchase on Changelly?
We tried to gather all the necessary information about the BTC purchase on this page. Yet, the crypto world can be darned confounded. If you still have questions, check out the FAQ page or contact our support team 24/7.
Keep your Bitcoin safe and sound
If you are searching for the best cryptocurrency wallets for your favorite coins, look no further! Whether you are a crypto pro or just starting out, these wallets might be a good option for crypto storage.
Integrating Changelly services into Trezor Wallet's exchange has been a great success for all parties, especially the users. Working with Changelly is a pleasure, thanks to their professional and courteous approach.
Changelly is the best option for users to access the most cost-savvy rates
With Changelly's stellar team, we have developed a unique system to ensure exchanges are fulfilled in the fastest possible time and with immediate customer support.
We are thrilled to partner with Changelly to provide an exceptional trading experience: anytime, anywhere - in a few simple taps!
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Is It Legal to Buy Bitcoin in Malaysia?
Bitcoin, a decentralized digital currency introduced in 2009 by a mysterious group of developers or individual known as Satoshi Nakamoto with the use of blockchain technology, is now stirring great interest in users in Malaysia. The country is among a few regions with the largest Bitcoin volume trading, and the BTC/MYR trading pair is among the heavily used ones on many cryptocurrency exchanges.
However, the legality of buying, selling, and using Bitcoin and other cryptocurrencies in Malaysia is not entirely clear. If you are curious about how to buy Bitcoin in Malaysia, it is vital to first understand the current legal situation surrounding cryptocurrencies in Malaysia and apprehend the potential risks associated with buying, selling, or trading Bitcoin.
Cryptocurrency asset classes are not currently recognized as a legal tender in Malaysia, meaning that digital coins and tokens cannot be used to pay taxes or meet other financial obligations.
However, the Malaysian government has granted an exemption to certain digital currency activities, such as cryptocurrency trading.
The Securities Commission of Malaysia (SCM) views cryptocurrencies as commodities and regulates them under the same rules and laws as commodity trading. All Malaysia-based digital asset exchanges must register with The Securities Commission, Malaysia, and adhere to their terms and conditions. Failure to do so can incur significant penalties both for the organization and customers involved.
In addition to this, the Central Bank of Malaysia (Bank Negara) also issued their "Guidelines on Digital Currencies" in 2018, outlining the authority’s stance towards cryptocurrencies. The regulator specifically stated that it doesn't recognize Bitcoin and other asset classes of crypto as legal tender, but they may still be used domestically, provided they aren’t used for illicit activities, such as money laundering or financing terrorism activities. Furthermore, Bank Negara Malaysia also warned citizens about potential risks when engaging in Bitcoin transactions, such as volatility, fraud, cybercrime threats, etc.
All in all, it is possible for individuals to buy Bitcoin legally in Malaysia provided that both proper verification processes are followed according to SCM and Bank Negara regulations. It is therefore important for individuals who are interested in trading cryptocurrencies to ensure that they understand the associated risks before engaging in any transactions. Otherwise, they might be held accountable for any violations of existing law even if unintended.
Cryptocurrencies are still a fairly new asset class that can be very volatile and high-risk , so always weigh all the pros and cons before dealing with digital coins.
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Best Ways to Buy Bitcoin in Malaysia Safely
If you’re interested in buying Bitcoin Malaysia, the safest way to go about it is by using licensed cryptocurrency exchanges. Buying and trading cryptocurrencies can be complicated since there are different legal regulations around the world, but using a well-regulated Bitcoin exchange platform ensures that your transactions will be secure and compliant with local laws.
A licensed cryptocurrency exchange is known as an entity that has gained official recognition from either the government or other legal bodies. This means that they are authorized to conduct financial transactions related to digital assets, such as Bitcoin. These entities have gone through rigorous testing to ensure that they abide by security standards set out by regulatory bodies, thus making them safe for investors who plan on buying and trading digital currencies.
Not only does this guarantee safety, but it also protects customers against potential losses due to fraud or theft caused by unlicensed exchanges. Additionally, investing in cryptocurrencies through a regulated platform is generally more secure than doing so through peer-to-peer networks where anybody can act as both buyer and seller.
Buying Bitcoin using a well-regulated cryptocurrency exchange entails creating an account and completing an identity verification process, such as Know Your Customer (KYC) for new customers. The KYC might require providing personal details such as name, date of birth, residence address as well as uploading your recent photo or some other documents.
Once a verification process is successfully completed, you may start trading Bitcoin immediately on the platform of choice. The most illustrious example of a licensed cryptocurrency exchange offering services in Malaysia is Changelly that allows you to deposit MYR (Malaysian Ringgit) via a credit card, debit card, bank account, or Apple Pay and immediately begin buying, selling, and trading Bitcoin and other cryptocurrencies with ease.
The bought Bitcoin assets need to be sent to a secure crypto wallet – make sure you get one before you buy BTC. Always double check your wallet address before sending BTC off the trading platform – once you've submitted a transfer to the Bitcoin network, it can't be cancelled or reversed, and the provision of a wrong address may only indicate the loss of your cryptocurrency investments.
When looking into an exchange prospective customers should take note of a trading fee scheme established by a particular platform. While there might be a free withdrawal fee, trading fees for fiat-to-crypto instant purchases might be very high, making using such platforms not worthwhile.
It is also advisable to familiarize yourself with the platform’s customer support should an issue arise while managing your crypto exchange account – having helpful staff to solve problems promptly relieves some of stress associated with crypto trading after all!
How to Buy Bitcoin with Credit and Debit Card
In Malaysia, it's now easier than ever to invest in Bitcoin. Thanks to an increasing number of exchanges, buying and selling Bitcoin with a credit or debit card is as simple as clicking a few buttons on your laptop. Are you ready to start your journey with Bitcoin? Here's a guide to how you can use a credit or debit card to purchase Bitcoin in Malaysia.
Choose a Cryptocurrency Exchange that Supports Funding via Credit and Debit Cards
The first step is to find an exchange that offers the option of buying Bitcoin using fiat currencies via a credit or debit card. If you don’t want to waste your time on researching – opt for Changelly, an all-in-one crypto exchange platform that welcomes crypto users from the entire world, including Malaysian investors.
Create Your Account and Verify Your Identity
Once you’ve selected your desired exchange, the next step is to create an account and verify your identity. This process may vary depending on the platform in use; however, typically, you will need to reveal some personal details (name, address etc.), as well as provide proof of identification documents like passport data, bank statements, etc.
Add Funds via Credit/Debit Card
The next step is to add funds from your credit/debit card onto the exchange – this can usually be done by either transferring money directly from the card into the exchange account, or through setting up a third-party e-wallet service like Apple Pay, Google Pay, and others of this kind. Check for any extra chargers that may be applicable for this transfer method, as well as minimum deposit requirements, before proceeding with your purchase. Then enter the credentials of your card, review the initiated transaction, and if everything looks alright, deposit funds to your trading account.
Buy Bitcoin
Now that you’ve added funds onto the exchange account, you’re just one click away from buying Bitcoin! Navigate to the crypto market on the platform, find BTC from the list of available cryptocurrencies, and specify how much Bitcoin you wish to get and how much money you wish to spend. Then press the “Buy” button and confirm that all terms are understood before finalizing your purchase.
Store Your Bitcoin Securely
Finally, it’s essential for safety reasons that you store your digital currency securely after making purchases on exchanges. It is advised to move your digital assets to some trusted Bitcoin wallet that enables strong protection measures for private keys.
How to Buy Bitcoin with Bank Transfer in Malaysia
Purchasing Bitcoin in Malaysia with bank transfers has become increasingly popular due to its convenience, security, and low fees. In order to buy Bitcoin with fiat currencies using this payment method, you will need an exchange that supports Malaysian Ringgit deposits made via traditional banking mechanisms such as IBFT or RTGS.
IBFT and RTGS are two different payment options used in Malaysia. IBFT stands for Instant Bank Funds Transfer, and it is an online payment system that allows users to transfer funds from one bank account to another instantly. RTGS stands for Real-Time Gross Settlement, and it is a real-time interbank payment system that facilitates the transfer of funds between banks. Both of these payment systems are secure and reliable, and they are commonly used in Malaysia for making payments and transferring funds to digital asset exchanges.
Once an account has been set up on an exchange website, you can securely transfer money from any Malaysian bank account and purchase BTC immediately. Bank transfers offer low fees and high levels of security compared to other payment methods. However, they are not characterized by fast processing speeds, and may take up to several business days to process your payment before your funds will reflect in your crypto exchange account.
How to Buy Bitcoin with Apple Pay in Malaysia
In the end of 2022, Apple extended its presence to Malaysia, bringing the convenience of cashless mobile payments, using iOS devices. Customers with Visa and MasterCard cards from local banks, including AmBank, Maybank, and Standard Chartered Bank, can use Apple Pay for their routine purchases in stores and service providers. If your card comes from a supported bank, you can link it to your Apple Pay wallet and then use this method to buy Bitcoin in Malaysia.
To buy Bitcoin with Apple Pay, you'll need to locate a digital asset exchange that supports this payment system. Then you need to link your Apple Pay account to the digital asset exchange. Once successful, you will be able to seamlessly purchase Bitcoin, generally without any deposit fee.
How to Buy Bitcoin from ATM in Malaysia
In Malaysia, there are several types of Bitcoin ATM available, each with their own features. The two main types are full-service and buy-only crypto ATMs.
Full-service machines allow users to both purchase and sell Bitcoin, and a number of other popular cryptocurrencies, such as Bitcoin Cash, for paper money, while buy-only machines only allow for the purchase of BTC.
Unlike cryptocurrency exchanges that often require several ID documents, address proof, and proof of income, Bitcoin ATMs generally skip these checks. Generally, a photo ID or phone number verification is enough to make use of crypto ATMs. Sometimes, a Bitcoin ATM may not even require undergoing a KYC formality, but let you buy BTC anonymously for tiny transactions.
With most Bitcoin ATMs, you simply need to scan the QR Code of your Bitcoin wallet address, so the machine can send your crypto assets to the right storage destination. You can then follow instructions from the machine on how much money you need to deposit to get the desired amount of crypto.
If you fail to fetch your own wallet address, don’t worry. Some Bitcoin ATMs may create a temporary crypto wallet address for you. This is called a "hot wallet" address, and it's a great way to get started with cryptocurrency from ground zero. Remember that these addresses are only temporary and should not be used for long-term storage of your crypto coins.
If you plan on holding onto your cryptocurrency for the long run, you should create a secure personal wallet address with a reputable provider. This will ensure that your digital assets are safe and hard to compromise.
Despite the limited availability of crypto ATMs in Malaysia (according to CoinATMRadar, there are only a handful of ATMs in the country, primarily located in Kuala Lumpur), they provide a straightforward way to buy crypto. However, always make sure that you double check all transactions before approving them – especially if dealing with large sums of money – so that no wrong information is entered and no potential losses occur across either end.
How to Buy Bitcoin with PayPal
Buying Bitcoin with PayPal in Malaysia is possible, but the process may be trickier than when buying with a card or bank transfer. This option is primarily available on peer-to-peer marketplaces where individual crypto buyers and sellers can set their own conditions for crypto trades, including the ability to accept payments in a local currency via PayPal or another specific method.
On large cryptocurrency exchanges, PayPal purchases are generally disabled. This is so because PayPal has recently begun to limit cryptocurrency purchases via its accounts. If you're looking for an alternative way to buy Bitcoin in Malaysia, you could try using a cryptocurrency exchange that supports local currency deposits via more convenient financial routes, such as bank transfers and credit cards. This will allow you to buy BTC without having to worry about ever-tightening PayPal's restrictions.
How to Buy Bitcoin with Prepaid Card
It is possible to purchase Bitcoin with a prepaid card in Malaysia. It is an advantageous way to enter the cryptocurrency space as this method typically entails low transaction fees for digital asset purchases. To buy Bitcoin in this manner requires finding a digital asset exchange that permits prepaid cards, linking the card to the exchange account, and then finishing with acquiring Bitcoin. A good rule of thumb is to have a good look through their policies and fees to ensure the platform is the best fit for your specific trading needs.
How to Buy Bitcoin with Cash in Malaysia
Bitcoin transactions have seen a massive boom in recent years, with lots of enthusiasts looking for easy strategies to buy Bitcoin with cash in Malaysia. Fortunately there is no shortage of them. Consider these options when you are buying Bitcoin with cash:
An Exchange That Supports Cash Payments. If you want to buy Bitcoin with cash in Malaysia, one of the fastest and most reliable methods is to visit an exchange that supports local currency payments. This type of platform will allow you to quickly deposit cash with Malaysian Ringgit (MYR) into their platform, facilitating acquisition of BTC within minutes.
A Local Bitcoin ATM. Do a search for “Bitcoin ATMs near me” online and see if any machines show up in your area as more and more become available every day. Most of these installations accept cash deposits, so all you have to do is visit the Bitcoin ATM and insert your money, then follow the prompts on the screen.
Local Meetups or Trading Groups. Another way to buy crypto with cash in Malaysia is by taking part in local meetups or trading groups on social networks such as Facebook or Telegram, where users connect directly with each other through private messages, so that transactions occur between individuals rather than using a traditional exchange. These types of interactions often have better pricing as sellers don't need to factor exchange trading fees into their prices. But it also carries a certain level of risk as buyers need to be aware that they are going outside of regulated platforms and could easily fall victim to scams.
Peer-to-Peer projects. There are various online platforms where users can buy and sell cryptocurrency, such as the Paxful peer-to-peer marketplace for crypto trading. Here, members can trade Bitcoins with each other via the payment methods the parties mutually agree on, such as a cash deposit through a bank office. Alternatively, they can arrange for a meeting in person through an online chat to trade Bitcoin in real life.
Can Foreigners Buy Bitcoin in Malaysia?
While certain countries have taken steps to completely ban the purchase of Bitcoin in their markets, Malaysia remains open for foreigners to buy crypto. Buying and trading cryptocurrency for Malaysian Ringgit (MYR) is relatively easy compared to other countries around the world. Foreigners can access both local trading platforms, such as Luno, and international digital asset exchanges, such as Changelly.
In order to make a purchase of Bitcoin, non-residents will have to sign up to the chosen crypto asset service provider, complete KYC measures, and then use one of the accepted payment methods to fund an account and buy BTC. Depending on the platform, non-residents may additionally need to set up an account with some Malaysian bank before they can buy Bitcoin in Malaysia.
Who Accepts Bitcoin in Malaysia?
Although Malaysia is still in the early stages of cryptocurrency adoption, there are already several businesses that accept Bitcoin as payment. If you're a Bitcoin enthusiast or curious about where you can spend your digital currency in Malaysia, here are some suggestions:
Pinkexc. It is an online store that offers a wide range of products, including electronics, fashion apparel, beauty products and many more, and accepts payments using several cryptocurrencies, such as Bitcoin, Bitcoin Cash, etc.
Picodi. This is a coupon website where users can get discounts and promo codes for various online stores. The website accepts Bitcoin payments for their premium subscription, which offers access to exclusive codes.
Satoshi Nakamoto Renaissance (SNR). It is a luxury hotel group with locations in Kuala Lumpur, Malaysia. They accept Bitcoin as a mode of payment since 2019, and they offer discounts for customers who pay with Bitcoin.
Goobat – it is an online pharmacy store that accepts cryptocurrency payments.
Bitstore – it is Malaysia's first online store for crypto hardware wallets. They offer a wide range of wallets for different cryptocurrencies.
As the use of digital currency grows worldwide, Malaysia's acceptance rate leaves plenty room for growth compared with other neighbouring countries such as Singapore and South Korea who have made strides toward accepting payments using cryptocurrency from clients.
How to Cash Out Bitcoin in Malaysia?
As the popularity of cryptocurrencies such as Bitcoin in Malaysia continues to rise, it is important for investors to know how to cash out their digital assets. Here are several ways to sell crypto for real money in Malaysia safely and securely.
Peer-to-peer trading. It is one of the easiest ways to cash out Bitcoins in Malaysia. Several P2P marketplaces, such as Remitano, match buyers and sellers of Bitcoin and other cryptocurrencies. P2P trading can be done through online banking transfers or cash settlements.
Cryptocurrency exchanges have emerged as a popular option for buying and selling digital currencies. Investors can cash out their Bitcoin holdings by selling them on an exchange platform for fiat currency or by swapping them for other cryptocurrencies. Once you have sold your Bitcoin on the appropriate exchange, you can withdraw the Malaysian Ringgit to your bank account or debit card. Moreover, many crypto exchanges offer a fee rebate – a type of incentive offered to market makers. Market makers are traders who are willing to buy and sell large amounts of cryptocurrencies, and the exchanges reward them with a fee rebate in order to encourage more trading activity. This fee rebate can be in the form of a percentage of the trading fees, or a flat fee for each trade. Generally, the more trades a market maker does, the larger the fee rebate they will receive.
Bitcoin ATMs. They work much like traditional ATMs, but allow users to buy and sell Bitcoin in the real world with real money.
Gift Cards. Some online crypto marketplaces like Paxful allow users to convert their Bitcoin possessions into gift cards from major retailers, such as Amazon or iTunes which can then be sold or redeemed easily.
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