How to Buy Ethereum in Malaysia

Ethereum is a cryptocurrency that has been around for the past five years and is a very popular altcoin in the crypto industry. But how do you buy Ethereum in Malaysia? We’re here to share our favorite exchanges and walk you through purchasing Ethereum for yourself.

Buying or selling Ethereum in Malaysia will require using a cryptocurrency exchange or a CFD broker. If you’re not familiar with them, these are platforms that provide users with the ability to buy, sell, and trade crypto. However, if you want to use one of these platforms to sell or buy Ethereum, you’ll need to create an account, give the exchange some verification documents, and have the necessary funds.

When you’ve done all that, you can get started trading Ethereum. Our preferred platforms to trade Ethereum in Malaysia are Plus500 and Coinmama. Both are excellent choices that give you the opportunity to learn more about the crypto industry. Using Plus500 and Coinmama provide you with a way to gain market exposure while enjoying a pleasant user experience.

 

  • 📈 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: BTC, ETH, XRP, LTC, BCH, ADA, QTUM, ETC
  • 💰 Deposit Methods: Credit/ Debit Card, Bank Transfer, Cash
  • ✅ Regulated
  • ❌ No Need To Setup Crypto Wallet
  • 🎧 Support: Email Form & Facebook
  • ❌ 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.

Selling or Buying Ethereum in Malaysia

Contract for Difference

If you aren’t familiar with Contract for Difference (CFD), here’s a quick rundown. With CFD, you’re using a product that gives you exposure to Ethereum without requiring you to purchase and hold the coin outright. You enter into a CFD at a specific price, choosing how much Ethereum you want to “buy or sell.” When you’re ready to close the CFD, you earn the difference between the starting price and the closing price. Now you know why it’s called Contract for Difference.

Our favorite CFD broker for selling or buying Ethereum in Malaysia is Plus500. You’ll get experience and exposure with Ethereum, but you aren’t actually buying the cryptocurrency itself. As a result, you don’t have to have a wallet to store your Ethereum. Plus500 is a regulated and reliable platform which gives you the ability to “buy” Ethereum in Malaysia.

Standard Crypto Exchange

If you’d rather own Ethereum outright, you can buy it in Malaysia via a standard cryptocurrency exchange. Our favorite standard exchange is Coinmama. On this platform, you can buy, sell, or trade Ethereum to your heart’s content. Coinmama is the perfect exchange for buying Ethereum in Malaysia. The process is simple and easy, even if you’re not yet familiar with how cryptocurrency works.


Use Plus500 to Sell or Buy Ethereum in Malaysia

How to buy Ethereum on Plus500 in Malaysia

When it comes to CFD sites, we think Plus500 is the best to use. You can use this platform to learn more about the volatility of the crypto market as it goes through its ups and downs. However, Plus500 doesn’t require you to store digital tokens in a wallet since you’re buying a position and not the currency itself.

When you’re ready to buy Ethereum in Malaysia, make your way to Plus500 (80.6% of retail CFD accounts lose money). The first thing you’ll see is a blue button in the center of the page that says “Start Trading Now.” Click that to get started.

How to create a Plus500 account in Malaysia

The next page asks you to select your preferred account mode. To continue creating your account, select “Real Money.” At the bottom of this page are download links for both Android and iPhone. If you want to take Plus500 on the go, you can download the app to your smartphone or tablet.

How to create a Plus500 demo account in Malaysia

Now you’ll need to give Plus500 a valid email address and password. If you don’t want to create a new account, Plus500 gives you the choice to use your Google or Facebook accounts to log in. Once you’re ready to move on, select the “Create Account” link.

How to register Plus500 account in Malaysia

The Verification Center will want some personal information from you. This is to verify you are who you say you are. This is common for exchanges, so there’s no need for concern. Give Plus500 the documentation it requests, then submit it. Plus500 will activate your account once it has what it needs to confirm your identity.

Creating Plus500 account in Malaysia

Funding Your Account and Buying Ethereum

After you receive a notification from Plus500 letting you know your account is approved, you can deposit your funds. There are plenty of options for depositing funds into your account, including Paypal, Skrill, and wire transfer.

How to deposit on Plus500

Once your funds show up in your account, you’re ready to start buying Ethereum. On the left of the screen, you’ll notice a menu option labeled “Trade.” Next, you’ll see a list of choices. Select “Cryptocurrencies” to view all the digital currencies Plus500 supports.

Choose Ethereum from the list and click on the “Buy” link. When you do, a window will appear on the right side which lets you enter your preferred parameters for your contract. There’s also an advanced section here if you are comfortable with CFDs. When you’re all set, select “Buy” to submit your order.

How to buy Ethereum in Malaysia with Plus500

Once your order is filled, Plus500 will send you a notification. At this point, you can view information as is pertains to your CFD. This includes your available funds, your margin, and your profit and/or loss. When you’re ready to finalize your contract, select “Close.”

How to sell Ethereum in Malaysia with Plus500


Buy Ethereum in Malaysia with Coinmama

While Plus500 has a mobile app for its users on the go, Coinmama does not. Currently, you can only purchase Ethereum in Malaysia through the Coinmama website. After you make your way to the website, look up in the right corner of the page. You’ll notice a blue “Sign Up” link. Click on that to begin creating your Coinmama account.

How to signup to Coinmama

Complete the form on the next page as part of the initial registration process. Give Coinmama a valid email address, enter your password, first and last name, and your country of residence. Once that’s done, select “Create Account.” Soon you’ll receive a verification email from Coinmama.

How to create a Coinmama account

After you verify your email address, Coinmama asks for your personal info. Coinmama uses this to verify your identity. This helps to create extra security for the exchange by knowing exactly who is using it. Like Plus500, this is normal, so there’s no need to worry about this request.

Coinmama registration form

Similarly, you’ll have to provide some documentation as well. Coinmama will accept your driver’s license, passport, or some other form of government-issued identification to validate your information.

Once your documentation is submitted, you’ll receive approval from Coinmama. Thankfully, you won’t have to wait very long as typical response time is less than a few hours. After you get the approval from Coinmama, you’re ready to buy Ethereum in Malaysia.

Purchasing Ethereum

When it comes to purchasing Ethereum on Coinmama, one thing to note is that the exchange does not store your credit or debit card information locally. That means you have to enter it every time you want to make a purchase. However, it also means that Coinmama isn’t keeping your payment info on file.

To buy Ethereum, just click on the “Buy” link located in the right corner of the Coinmama site. A new page will load letting you choose which cryptocurrency you want. Select ETH, since you’re buying Ethereum. You can also select either USD or EUR to view the current rates.

Enter how much Ethereum you want to buy, or you can input the amount of USD/EUR if you would rather go that route. When you click “Buy ETH,” Coinmama will request your Ethereum wallet information. If you don’t already have an offsite ETH wallet, you’ll need to create one at this time.

Enter your wallet address, type in your debit or credit card info, then buy your Ethereum.

How to buy Ethereum in Malaysia with Coinmama

At this point, Coinmama will process your payment. When the transaction completes successfully, you’ll see your Ethereum show up in your wallet. One last thing to remember is that Coinmama has a minimum purchase amount, so be sure you enter at least that amount when you buy Ethereum in Malaysia.


More About Ethereum

Even though Ethereum is a well-known altcoin in the crypto community, not everyone knows much about it or what it does. Our goal is to give you a better understanding of what Ethereum is all about.

What is Ethereum?

Ethereum is an open-sourced blockchain, which is something a lot of folks don’t know. As a result, programmers have the opportunity to develop decentralized applications (dApps) on Ethereum’s network. Decentralized apps are important because they don’t give one single entity or person entire control over the application.

We are all acclimated to the client-server relationship we see with so many websites and platforms. Ethereum wants to completely get rid of that paradigm. Their goal is to develop programs that are not managed by one single person or entity. Additionally, Ethereum’s blockchain would handle all of these dApps.

What is a Smart Contract?

A popular term that gets thrown about when discussing Ethereum is “smart contract.” With Ethereum’s smart contract, an agreement is not fulfilled until all parameters are met. For example, if you’re buying a house, you and the seller agree on the specifics before entering into the smart contract. When these specifics are met, the funds for the home are moved from the buyer’s account into the seller’s.

The promising part of Ethereum’s blockchain is that it’s being used to disrupt several industries. We’ve already given an example of how it’s part of the real estate market. It also has use cases in banking, health care, logistics, supply chain, and many other areas.

Since smart contracts reside on the blockchain, no one person can change or reverse it. When the contract goes live on the network, it takes a majority to make any changes. This is a very difficult thing to make happen due to the nature of blockchain.

The code that makes up Ethereum means any type of contract can be developed and executed on its network. Types of contracts include those means for decentralized voting, real estate, supply chain, and many others. There is no shortage of opportunities in regards to Ethereum’s smart contracts.

Who Developed Ethereum?

While Ethereum doesn’t have one single control point, someone had to develop and launch it. Vitalik Buterin was that person, and at 19 was already heavily involved in the crypto space. At this age, Buterin was already developing Ethereum’s network.

Buterin was given the Peter Thiel Fellowship award in 2014, which consisted of a $100,000 prize, based on his development of the Ethereum network. Ethereum typically ranks in the top five of all cryptocurrencies on a regular basis, and a lot of that is due to the effort Buterin has put into its development.

Pros and Cons of Ethereum

Pros
  • Blockchain cannot be controlled by a single entity or person
  • Decentralized apps are creating a way to eliminate current server-client relationship
  • Majority of nodes on the Ethereum blockchain must come to an agreement for any changes to be made
  • Network is essentially tamper and hack-proof
  • Does not have a single point of failure
  • Ethereum decentralized applications are always online and available
Cons
  • Human programming means Ethereum is susceptible to errors in its code
  • Potential exploits exist that could be taken advantage of by hackers
  • Code can only be changed by a majority consensus, which is very difficult to organize

Is Ethereum a Good Investment?

We can’t predict the future, so we don’t know whether or not you should invest in Ethereum. However, what we can do is give you a few items to think about as you make up your mind:

  • Since it became a cryptocurrency, Ethereum has shown consistent growth
  • Ethereum is consistently in the top of the coin market cap rankings, which makes investing in it less risky than smaller altcoins
  • The majority of cryptocurrency exchanges and platforms list Ethereum
  • Often a trading pair for other altcoins
  • Has the support of large companies such as BP, JP Morgan, and Microsoft
  • Ethereum is disrupting other industries with its smart contract potential
  • Possible pressure exists from coins like Binance as it presents an alternative funding opportunity for new cryptocurrencies

Ethereum is a digital currency, which means it has inherent risks associated with it as part of its asset class. If you want to learn more about how Ethereum is viewed by professionals, or gather analytical data about the coin, we recommend visiting Trading View or CoinMarketCap.

 

  • 📈 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: BTC, ETH, XRP, LTC, BCH, ADA, QTUM, ETC
  • 💰 Deposit Methods: Credit/ Debit Card, Bank Transfer, Cash
  • ✅ Regulated
  • ❌ No Need To Setup Crypto Wallet
  • 🎧 Support: Email Form & Facebook
  • ❌ 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 popular cryptocurrencies in Malaysia such as Bitcoin and Ripple.

Further Reading At TotalCrypto.io
1) Buying Ethereum Is One Thing, Monitoring Your Investment & How It’s Performing Is Another. Make Things Easier By Using A Top Crypto Tracking App & Get Price Updates Straight To Your Phone.

2) New To Crypto Trading? We Have You Covered With Our Crypto Trader Beginners Guide.

3) There Is A Lot OF Risk In Crypto Trading. Learn About Crypto Risk Management & How It Can Help You.

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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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