How to Buy Bitcoin in Malaysia

There is no shortage of options available for buying Bitcoin in Malaysia, but it can be a challenge to know which one to choose. That’s why we’ve created a guide to help you know where to go to buy or sell Bitcoin in the region.

The majority of users in the cryptocurrency community purchase Bitcoin through an exchange or CFD broker. These platforms are sites that let you buy, sell, and trade cryptocurrencies. You’ll need to create an account by selecting a username and password, along with providing some additional data. After you create an account, you can deposit MYR and get started with the business of trading Bitcoin.

You’ll discover plenty of cryptocurrency exchanges or CFD brokers that let you buy or sell Bitcoin in Malaysia. This is especially true if you are getting exposure to a well-known crypto like Bitcoin. When it comes to buying or selling Bitcoin, we recommend using Plus500 and Paxful. You’ll have a pleasant experience with either platform when buying Bitcoin in Malaysia.

 

  • 📈 Trade: BTC, ETH, XRP, LTC, BCH & IOTA
  • 💰 Deposit Methods: Credit/DebitCard, PayPal, Skrill, Bank Transfer
  • ✅ Regulated
  • ✅ Plus500 is a CFD Broker Which Means No Need To Setup Crypto Wallets
  • 🎧 Support: 24/7 Live Chat & Email
  • ✅ Mobile App For iOS & Android

  • 📈 Trade: Bitcoin
  • 💰 Deposit Methods: Over 300 Including PayPal, Gift Cards & More
  • ❌ Regulated
  • ❌ No Need To Setup Crypto Wallet
  • 🎧 Support: Livechat & Email
  • ❌ Mobile App For iOS & Android

 

80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Plus500UK Ltd authorized & regulated by the FCA (#509909). You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the Plus500 website.

Buying Bitcoin in Malaysia

Contract for Difference

Contract for Difference (CFD) is an excellent way to gain exposure to Bitcoin without actually holding the cryptocurrency. By using CFD, you have the ability to determine the entry price before you sell or buy Bitcoin. When your contract reaches the price that you want, you can close it out. You’re then given the difference between the two. Thus the term, Contract for Difference.

We believe Plus500 is your best option if you want to use Contract for Difference to buy Bitcoin in Malaysia. With Plus500, you can see Bitcoin’s price, but you aren’t required to have a wallet to store your Bitcoin offsite. Additionally, Plus500 is well-regulated, so you don’t have to worry about being scammed.

Plus500 gives users a great way to get exposure to Bitcoin and cryptocurrency as a whole. You can view the site on both your desktop PC or via the platform’s mobile application. No matter how you choose to watch your CFDs, you’ll have a smooth and easy time buying Bitcoin in Malaysia with Plus500.

Standard Crypto Exchange

For those that want to jump feet first into the world of cryptocurrency, then we recommend using a standard exchange like Paxful. Using a cryptocurrency exchange means you can buy, sell, or trade Bitcoin in Malaysia as soon as you register on the platform.

Our exchange of choice is Paxful. This popular exchange gives users a great way to buy Bitcoin in Malaysia. It is user-friendly and provides a wide variety of payment options. These options and other features make using Paxful a great choice for buying, selling, and trading Bitcoin.


Plus500: The Best Place to Buy or Sell Bitcoin Malaysia

How to buy Bitcoin Malaysia on Plus500

If you’re interested in going the CFD route, Plus500 is the exchange to use to purchase Bitcoin in Malaysia. When you “buy or sell” Bitcoin using Plus500, one thing you don’t have to worry about is storing your cryptocurrency in an offsite wallet. We like Plus500 a lot and the ability to gain exposure to crypto without holding it has a certain draw to it.

When you’re ready to get started with Plus500, you’ll need to navigate to the website and register an account (80.6% of retail CFD accounts lose money). Click on the “Start Trading Now” button to start the process.

How to create Malaysia Plus500 account

On the next screen is the option to select the type of account you want to use. If you want to learn a little more about cryptocurrencies and Bitcoin, there’s a Demo Mode available. However, for our walkthrough, we’re going to select Real Money.

You’ll notice at the bottom of this page a couple of links for the Plsu500 mobile app. It will work on both your Android and Apple devices, so you can take Plus500 with you anywhere you go.

How to create real money account on Plus500 in Malaysia

The following page has a short form you’ll have to complete to register with Plus500. Provide the site with your email address and a valid password. Additionally, you can use either your Facebook or Google accounts to register with the site if you prefer. Select “Create Account” to move to the next piece of the registration process.

How to create account on Plus500 in Malaysia
At this point, Plus500 asks for additional data from you for verification purposes. Basically, Plus500 want you to prove that you’re a real person with a real identity. Most legit cryptocurrency exchanges request this type of identification, so there’s no need for alarm. Think of it as an extra layer of security which helps to protect you and every user on the Plus500 site.

Plus500 will activate your account when it has the appropriate information.

Funding Your Plus500 Account

After Plus500 confirms and activates your account, you can start to deposit your funds, which you can use to purchase Bitcoin in Malaysia. Plus500 gives users the option to use a debit or credit card, Paypal, Skrill, or wire transfer to load their account.

Not too long after you provide Plus500 with the deposit information, it will show up in your account. Once it does, you’re ready to start buying Bitcoin. You’ll see a menu on the left side of the page with several options. Click on “Trade,” then select “Cryptocurrencies.” Now you should see a list of all the cryptocurrencies Plus500 supports.

You’ll notice Bitcoin is at the top of the list, making it easy for you to “buy” it with Plus500. Next to the Bitcoin listing, you’ll notice a button labeled “Buy.” Click on that and a window will emerge from the right side. This is where you can provide Plus500 with your preferences for your CFD.

Enter the amount you want to purchase as you enter into your contract. If you’re familiar with contracts for difference, there is an option here to control advanced features if you need more granular access. When you’re happy with your entries, select the “Buy” button to enter into your CFD.

How to buy bitcoin in Malaysia with Plus500?

Plus500 will execute your order at this point. Once it successfully completes, you’ll receive a notification. You’ll also notice your Bitcoin purchase on the main trading page. It is here that Plus500 will show you any remaining MYR you have, your current profit and loss, along with your margin.

When you’re ready to close out the contract, all you have to do is click on the “Close” link in the Bitcoin listing. At this point, you’ll get the difference between your entry price and the contract finishing price.

How to sell Bitcoin in Malaysia with Plus500


Using Paxful to Buy Bitcoin in Malaysia

With Paxful, you can look for someone from whom you can buy Bitcoin in Malaysia. However, before you get too far into the process, you need to create an account first. Thankfully, Paxful makes it pretty simple to get going, so point your browser to the site to get set up.

Select “Create Account” located in the top right corner of the Paxful home page to get started.

How to create Paxful account?

Complete the registration form that pops up. You’ll fill in your email address, select a username, and enter your password of choice. Now select the “Agree to the Terms of Service” option, confirm that you are not a robot, then click the button labeled “Create Account & Free Wallet.”

You’ll receive a verification email in your inbox requesting you to validate your account. Click on the link and you’ll be directed back to the Paxful platform. That’s all there is to it. Now you’re ready to start buying Bitcoin in Malaysia.

One additional step we recommend is setting up two-factor authentication to provide additional security for your account. Paxful does not require you to enable 2FA, however, the few moments it takes to get it done are worth it. You’ll have more protection against hackers who may attempt to access your personal data. It’s a wise decision for any platform you use to buy Bitcoin.

How to Buy Bitcoin in Malaysia with Paxful

When you’re ready to start buying Bitcoin with Paxful, the first thing you’ll want to do is enter your preferred payment method. There are plenty of options available on Paxful, including Skrill, PayPal, gift cards, American Express, Apple Pay, Western Union, and more.

Depending on which payment method you select, you’ll have more (or less) people to buy Bitcoin from, more security, privacy, and faster payments. After you’ve entered your method of payment, you can now enter the amount of Bitcoin you wish to buy.

Buy Bitcoin Malaysia on Paxful

 

Now you can choose MYR as your fiat currency from the dropdown. If you prefer another currency, there are plenty to choose from. Once you’ve entered how much Bitcoin you want to buy and which currency you want to use, click on the green “Buy Bitcoin Now” button to view your available options.

One thing you might notice as you view your options is that the prices of Bitcoin are higher on Paxful that they are with other cryptocurrency exchanges. This is primarily due to Paxful not being as secure as other platforms, plus sellers are taking on the risk of not getting paid by buyers.

Additionally, buyers can choose not to mark a transaction as completed. This means the seller can potentially lose their money and their Bitcoin. By raising their prices, sellers are building in a bit of a safety net for protection if something goes wrong during the transaction.

When you find a seller that you like, review their terms to learn more about what type of seller they are. The terms will show you exactly what the seller expects and provides you with a solid idea of how the transaction process works.

Once you’re satisfied with the amount and the terms, select the button labeled “Buy.” At this point, the Bitcoin moves to an escrow account where it remains until all terms of the transaction are met. Pay the seller based on the instruction provided. When you have done so, mark the transaction as complete by clicking “I Have Paid.”

This lets the seller know that your part of the transaction is done. The seller indicates that things are good on their end and the Bitcoin is released from escrow and deposited into your Paxful Bitcoin wallet. At this point, you can either keep your Bitcoin in the site wallet or move it offsite for safekeeping.


More Bitcoin Info

It’s never a bad idea to have as much information as you can before buying something, and Bitcoin is no exception. One point of interest about Bitcoin is that it was the first cryptocurrency on the market. It originated in 2009 and was developed by Satoshi Nakamoto.

The Purpose of Bitcoin

Bitcoin wants to provide users with a way to store value in a decentralized manner. This means they aim to give its users the ability to purchase goods or services from anywhere in the world. Bitcoin has no ties to any specific government, country, or bank. Plus, it’s great for businesses since it doesn’t charge the ridiculous fees associated with credit cards.

Who Can Use Bitcoin?

Anyone who has the desire to learn more about decentralization and cryptocurrencies is the ideal user for Bitcoin. This secure and private digital currency is the most popular cryptocurrency in the world. As a result, many industries are starting to see the potential behind Bitcoin and using it as part of their business models.

Bitcoin gives its users a way to store money other than by using a bank. Users keep Bitcoin in a digital wallet, which typically resides on your smartphone or PC desktop. Your wallet is similar to your bank, except with lower fees and fewer regulations.

Bear in mind, however, that crypto wallets do not include insurance. If you lose your Bitcoin, there’s little chance of you recovering them. That means you should always keep a close eye on your Bitcoin so you know exactly where your cryptocurrency is at all times.

Pros and Cons

Bitcoin logo

Listed below are some of the Pros and Cons you’ll encounter when using Bitcoin:

Pros
  • Bitcoin is the first cryptocurrency to offers users a way to digitally store value
  • Continues to grow in popularity and adoption
  • Highly recognizable and well-known cryptocurrency
  • Has been on the market for the past ten years which means it offers longevity and stability
  • Nearly all cryptocurrency exchanges offer a way to buy, sell, and trade Bitcoin
  • Users can purchase a small piece of Bitcoin
Cons
  • Inherent risks when buying Bitcoin since it is a cryptocurrency
  • Value can change dramatically from day-to-day

Is Bitcoin a Good Investment?

It’s impossible to know the future of Bitcoin, but that doesn’t mean it’s not a good investment. It’s been around for a decade now, so it continues to solidify its position in the financial industry. That means Bitcoin has the power to stick around, which makes it a potentially solid investment option.

Here are a few things to think about as you decide whether or not Bitcoin is a good investment:

  • Bitcoin is the most popular digital currency around the globe
  • It is the standard for all other cryptocurrencies
  • Not as big of a risk as other cryptocurrencies since it sits at the top of the market
  • Nearly all exchanges offer Bitcoin to buy, sell, or trade
  • Great future potential as a store of value
  • Leading the way in cryptocurrency adoption efforts

Overall, the cryptocurrency industry is a volatile market. As a result, there are inherent risks associated when investing in Bitcoin. If you want to learn more about the analytics behind Bitcoin or where others believe the cryptocurrency is headed, check out CoinMarketCap or Trading View.

 

  • 📈 Trade: BTC, ETH, XRP, LTC, BCH & IOTA
  • 💰 Deposit Methods: Credit/DebitCard, PayPal, Skrill, Bank Transfer
  • ✅ Regulated
  • ✅ Plus500 is a CFD Broker Which Means No Need To Setup Crypto Wallets
  • 🎧 Support: 24/7 Live Chat & Email
  • ✅ Mobile App For iOS & Android

  • 📈 Trade: Bitcoin
  • 💰 Deposit Methods: Over 300 Including PayPal, Gift Cards & More
  • ❌ Regulated
  • ❌ No Need To Setup Crypto Wallet
  • 🎧 Support: Livechat & Email
  • ❌ Mobile App For iOS & Android

 

80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

You can also buy other major cryptocurrencies like Ethereum in Malaysia too.

Further Reading At TotalCrypto.io
1) Want To Learn More About Bitcoin Before Committing? Read Our Ultimate Bitcoin Guide.

2) Read About The Top Crypto Trading Risk Management Tips.

3) What Is Scalping & How Can You Use This Trading Strategy In Short Crypto Trading Sessions?

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DISCLAIMER: Be aware that the activity of cryptoassets mentioned in this article is unregulated. This article must not be construed as investment advice. Always do your own research.

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