How to buy BTC in Malaysia in 3 steps (2021)
Follow these steps & learn how to easily purchase bitcoin in Malaysia safely.
Choose the exchange
Choose your pick from our list of Top crypto exchanges in Malaysia.
Remember to use links from this website to make sure you don't end up on scam / phishing websites.
Register + KYC
Register on the exchange and go through the KYC process.
The most popular exchanges use automated Know Your Customer services.
Deposit fiat & buy bitcoin
Deposit your fiat currency.
Depending on the payment method this step can take minutes, all the way up to 5 business days (for example if you want to deposit with international bank transfer).
Choose debit or credit card payments if you want to skip the funding process and are willing to pay a bit more in fees.
Otherwise, once the money hits your account you are free to purchase BTC.
Now that you finally have your precious bitcoin, it's not a great idea to leave it on an exchange. To avoid losing your wealth in exchange hacks, move the crypto funds to your personal wallet.
Don't have a wallet yet? Check out our guide to find the best bitcoin & cryptocurrency wallets.
Make sure to check out our list of the best exchanges to buy bitcoin in Malaysia.
Hand picked, filtered out from scam exchanges and updated by our team.
This will save you hours and possibly a lot of money as well.
4 Extremely important things to look for when choosing your exchange:
There are incredibly large amounts of scammers and hackers in the crypto space, due to the decentralized nature of cryptocurrencies. It has been extremely important since day 1 to do your research before buying Bitcoin and the need for analysis is becoming more crucial every single day. You don't want to feel your palms sweat and anxiety take over as you realise your hard earned money is gone. As you might have already read, more than $11 Billion worth of crypto has been stolen since 2011. Read Top 5 crypto scams and how to avoid them to learn how to keep your crypto safe.
Being decentralized, thus having no central entity, Bitcoin has no support number you can call if you lose your coins.
If your crypto is stolen, it's usually gone for good!
If you manage to avoid the scammers, you are still vulnerable to high fees from rogue exchanges. This is the wild west and if you are not careful you can lose your money.
Other things you need to look out for when choosing a digital currency exchange are:
Is it even to possible to use the exchange in Malaysia? Due to increasing government KYC (Know Your Customer) and AML (Anti Money Laundering) regulations it's difficult for companies to do business in a lot of countries simultaneously.
Is the type of payment you need available? Some exchanges let you purchase Bitcoin with a credit card in Malaysia, but not with a bank transfer. Peer to peer exchanges let you find crypto sellers for cash, but can take a lot of time to do the transaction.
Time is money. How fast do you need to get your coins from the moment you land on the exchange's website? If you need the coins fast, you need to pay with credit or debit card for instant payments. If you need to deposit EUR via SEPA transfer, you might need to wait 1-2 days for the deposit to hit your account. Are you trying to buy bitcoin with cash in Kuala Lumpur city center or in the countryside near Seberang Perai? You're going to need a p2p (peer to peer) exchange for that.
A lot of exchanges take ages to go through the KYC process, possibly losing you days before you can finally make the purchase. By then you might have lost a good entry opportunity. Some exchanges listed in our Top exchanges to buy BTC in Malaysia list allow you to buy Bitcoin anonymously without KYC verification in very small amounts (~$100).
How much are you willing to pay in fees? If you want to purchase Bitcoin with credit or debit card, be prepared to pay higher fees. When in peer to peer exchanges, make sure to watch the price as a lot of sellers set prices higher than the market price.
That's hours and hours of research! - You, reading this
Luckily for you, we have done all this research for you.
Frequently Asked Questions
When choosing an exchange you have to think of 4 factors - geographical availability, payment methods, delivery times & fees.
You can find the best crypto exchanges to purchase BTC on our Top Crypto Exchanges in Malaysia list.
Once you have your BTC, the best idea is to store it in a hardware wallet.
If you keep your coins on an exchange, then you don't own the private keys which means you don't own your coins.
Don't worry - we'll help you find the best crypto wallet for you.
To purchase BTC anonymously with no KYC verification in Malaysia you have to find a seller willing to transact with you.
You can find a seller from one of the p2p exchanges listed on our Top Crypto Exchanges in Malaysia list.
You can pick an exchange with credit / debit card option on our Top Crypto Exchanges in Malaysia list.
KYC is mostly required for this payment method.
If you want to purchase BTC with a bank account transfer, you can easily find an exchange from our Top Crypto Exchanges in Malaysia list.