3 Bitcoin Trading Platforms in Malaysia

For those who are just getting used to cryptocurrencies, finding a suitable trading platform is a daunting task. Can Bitcoin purchases be made through online banking? What about its credibility? So I share 3 Bitcoin trading platforms in Malaysia that may suit you.

Needless to say, Luno is one of the most popular cryptocurrency wallets in Malaysia and is listed among the 3 cryptocurrency exchange platforms approved by the Securities Commission Malaysia (SC). Founded since 2013, Luno has provided services to nearly 6 million users in 40 countries around the world with a transaction volume of nearly 17 billion USD.

Currently, Luno only provides 3 types of cryptocurrencies that can be traded in Malaysia. Among them are Bitcoin (BTC), Etherium (ETH) and XRP. Suitable for beginners, the experience of using this application is very simple and easy to understand. It is also integrated with FPX which makes it easy for you to buy cryptocurrencies through online banking. If you want to sell Bitcoin, the money will also be deposited directly into the bank account you registered.

Talking about the experience, I started using Luno since August 2017. It was then that the first wave of cryptocurrencies began to peak in Malaysia and I often used Luno to trade cryptocurrencies before trading on other platforms. Understand that at that time, the purchase of BTC was a little difficult due to regulatory issues. So he could feel the time before, during and after Luno was banned. Overall review, I was satisfied while using Luno. Easy and concise.

 

 

The second platform that I often use for Bitcoin trading in Malaysia is Localbitcoins. Operating since 2012, the Finland -based platform is gaining ground among Malaysians due to their operandi module that facilitates Bitcoin transactions using Malaysian Ringgit.

One thing is quite important, Localbitcoins is not a cryptocurrency exchange platform like Luno. Instead Localbitcoins is a Peer to Peer (P2P) platform that allows you to trade with other users. So when dealing with these humans, the risk of being deceived remains. So you yourself have to take a precautionary attitude to choose with whom you want to deal. Please check transaction records, reputation and also other users' feedback before conducting business. It's not hard at all.

I started using Localbitcoin since from September 2017 and for now I have never been cheated by anyone. Thankfully, Localbitcoins provides an escrow function, i.e. they will be the middleman holding the BTC sold (float) to the polan while the transaction is pending. This makes buyers and sellers feel safe and reduces the risk of fraud.

Buying and selling Bitcoin is also very fast. Because some sellers and buyers chase ratings and try to improve reputation, so they try to provide the best service to you. That’s why I love Localbitcoins.

 

Binance was originally a fairly well -known cryptocurrency trading platform. In 2020 alone they have daily transactions worth USD3.88 billion, 184 tokens and 591 trading pairs making them one of the influential superpowers in the world of cryptocurrency trading. Binance P2P is one of the Binance products created at the end of 201

Binance P2P plays almost the same role as Localbitcoins where it is a Peer to Peer (P2P) community platform that mediates cryptocurrency trading activities between you and other individuals. The special thing about Binance P2P is that it is not only limited to BTC. Instead it also supports 6 other types of cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Binance USD (BUSD), Dai Coin (DAI) and Tether (USDT). You can do business easily using Ringgit Malaysia.

I started using Binance since 2018 and used Binance P2P in 2021. One of the things I love about Binance P2P is that it is integrated with the Binance trading platform. So after buying the cryptocurrency, I can continue trading there without any problems. Want to cash money is also easy. All I had to do was transfer the money back to Binance P2P for sale. At no charge.

More interesting are mandatory functions such as escrow, various payment methods and fast transactions are also available. Even better, they integrate their products with the Binance ecosystem. This is one of the reasons why I chose Binance P2P.


Nazri Mat Nor

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