Cryptocurrency Development Company in Malaysia


In Today’s world, Every consumer wants a cashless economy through digital currency because they want to do a faster and hassle-free payment system because they don’t like middleman/intermediates(like banks). Bitcoin was the first decentralized cryptocurrency in 2009. Bitcoin adoption and usages are increasing everywhere.
In this article, we have to see how Cryptocurrency plays a major role in Malaysia!
Cryptocurrency is becoming an important aspect of local economics, Malaysia is one of the top destinations for cryptocurrencies and also it is the most progressive and well-established country for Cryptocurrency Development.
Cryptocurrencies are the third-largest asset holding(21%)besides the real estate(44%) and gold(33%) by the Malay community.
Table of the content:
  • How Bitcoin prices are determined in Malaysia
  • Cryptocurrency Exchange Platforms in Malaysia
  • Bitcoin ATMs in Malaysia
  • Regulation for cryptocurrency in Malaysia
  • Cryptocurrency Regulation in Malaysia
  • How Bitcoins are used in Malaysia
  • Who is the cryptocurrency development solution provider in Malaysia?
How Bitcoin prices are determined in Malaysia
The price of Bitcoin Price in Malaysia is based on the average of Malaysian cryptocurrency exchanges, The price of Bitcoin is determined by the supply and demand of exchanges in Malaysia, when more people in the “Marketplace” want to buy bitcoin the price of bitcoin will go up, if more people want to sell then the price will drop. So that the price of Bitcoin is slightly different between exchanges and it is different from other countries.
Cryptocurrency Exchange Platforms in Malaysia:
In Malaysia, The Bank of Negara has listed some of the registered crypto exchange platforms that allow crypto holders to buy and sell their digital assets in the country they are
 NuMoney: In this platform Identity and proof of residential address verification is required to start trading by using this Numoney the payment method is only through bank transfer, it is one of the most popular Physical stores to buy and sell Cryptocurrencies in Malaysia. NuMoney Supports Ethereum, Bitcoin, Litecoin, Ripple will be used for the exchanges also, they take 0.25% charges for their services
LocalBitcoins: It is a Peer-to-peer Bitcoin trading site that is used buying and selling Bitcoins it also allows users to post their advertisements, LocalBitcoins provide their payment methods through Gift card code and Bank Transfer, It only supports Bitcoin.
Coinmama: this is the most popular place among customers to buy bitcoin because it was used by almost every country with use of credit card or debit card to buy bitcoins this is usually charged between 6-7% for debit and credit card purchases this helps to get your coin instantly and it is an easy way for newcomers to get bitcoins.
Luno: - it helps for transactions such as buying, selling and paying through with Bitcoin wallet, They also operate cryptocurrency exchanges it is one of the most popular exchanges in Malaysia.
XBit Asia: -it was built especially for Malaysia and it was approved by Malaysian Ringgit(MYR) so it can be helpful for trade with bitcoin, and it is one of the Malaysian’s leading trading sites, It charges a 0.8% for a trading fee.
Coinexy: - it is a peer-to-peer exchange platform it also accepts Litecoin and Dogecoin
Coinhako: - it charges 0.9% for both buying and selling, especially using the Malaysian Ringgit(MYR) or Singapore Dollar.
Belfrics: - this platform allows you to trade Bitcoin, Ethereum, Bitcoin Cash and Litecoin.
BXM: - One of the prominent cryptocurrency exchange in Malaysia.
Add Token: - it helps investors can transfer Ripple, DASH and other crypto coins and tokens.
Bitcoin ATMs In Malaysia
Users can buy Bitcoin using cash from an ATM in Malaysia, there are along 9 Bitcoin ATMs in Malaysia with 5 of them in Kuala Lumpur. The Average Bitcoin ATMs in Malaysia charge 5-10% for buying/selling bitcoins. Most of the peoples in Malaysia preferred these Bitcoin ATMs because this system does not require any ID Verification like KYC or other personal information.
Here is the list of ATMs located in Malaysia
  • Kuala Lumpur
  • Nilai
  • Sungai Petani
  • Langkawi
  • Penang

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