How to buy Bitcoin or Crypto in Malaysia 2025

By Editorial Team -

Contents

  • Introduction
  • Types of Cryptocurrency
  • Best Crypto Exchanges in Malaysia
  • Bitcoin ATMs in Malaysia
  • Peer-to-Peer Marketplace
  • Step by Step Guide: Buy Bitcoin or cryptocurrency in Malaysia
  • Is Cryptocurrency Legal in Malaysia?
  • Is Crypto Taxable in Malaysia?
  • Conclusion
  • Frequently Asked Questions

Introduction

In December 2024, Bitcoin set a new all-time high of USD 100,000 (RM442,000) for the first time. A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. 

Many cryptocurrencies are decentralised networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers. A defining feature of cryptocurrencies is that central authorities generally do not issue them, rendering them theoretically immune to government interference or manipulation.

Lately, many types of cryptocurrencies have been making headlines on the news. This is because of their increasing prices which are making tons of investors happy.

Where to buy Bitcoin in Malaysia? If you are interested to buy Bitcoin or crypto in Malaysia, here are the ways to do so.

Types of Cryptocurrency

There are thousands of cryptocurrencies available today, each with its unique features and purposes. Understanding the different types of cryptocurrencies can help you make informed decisions about which ones to invest in. Here are some of the main types:

1. Utility Tokens

Utility tokens are designed to be used for a specific function within a blockchain ecosystem. For instance, Ethereum's ether (ETH) is used to pay for transaction fees and computational services on the Ethereum network. Similarly, XRP is used on the XRP Ledger to facilitate cross-border payments for financial institutions.

Examples:
  • Ethereum (ETH): Used for validating transactions and running applications on the Ethereum blockchain.
  • XRP: Facilitates fast and low-cost international money transfers.

2. Transactional Tokens

These tokens are intended to be used as a medium of exchange, similar to traditional currencies. Bitcoin, the first and most well-known cryptocurrency, falls into this category. It was created to serve as a decentralized digital currency, enabling peer-to-peer transactions without the need for intermediaries like banks.


Example:
  • Bitcoin (BTC): The original cryptocurrency, designed as a digital alternative to fiat money.

3. Governance Tokens

Governance tokens grant holders the right to participate in the decision-making processes of a blockchain project. Holders can vote on key issues such as protocol upgrades, development priorities, and other governance matters.

Example:

  • Uniswap (UNI): Used to vote on proposals and changes to the Uniswap protocol.


4. Platform Tokens


Platform tokens support decentralized applications (dApps) that run on their respective blockchains. These tokens can be used to pay for services or as fuel for transactions within the platform.


Example:


  • Solana (SOL): Powers applications and transactions on the Solana blockchain.


5. Security Tokens


Security tokens represent ownership of an asset, such as a share in a company or a real estate property. These tokens are subject to federal securities regulations and are typically used for investment purposes.


Example:


  • MS Token: Represents partial ownership of the Millennium Sapphire, a valuable gemstone.

Best Crypto Exchanges in Malaysia

Here are some cryptocurrency exchanges you can use to buy Bitcoin or Crypto in Malaysia.

1. Luno (Previously known as BitX)


Luno is the most popular digital asset exchange to buy Bitcoin or cryptocurrency in Malaysia which has served over 3 million users from more than 40 countries. They allow Malaysian users to buy Bitcoin, Ethereum, XRP and Bitcoin Cash through a Malaysian Ringgit (MYR) trading pair (i.e BTC/MYR).

While they are probably the most renowned cryptocurrency exchange in Malaysia, the headquarter is located in South Africa. It was founded in 2013 by 4 co-founders namely Marcus Swanepoel, Timothy Stranex, Pieter Heyns, and Carel van Wyk. 

LUNO Malaysia has introduced Bitcoin Cash, its fifth digital asset approved by the Securities Commission Malaysia (SC), on its trading platform effective May 5, 2021.

Bitcoin Cash, which was first launched globally in 2017, is part of Luno’s growing list of digital asset offerings in Malaysia which includes bitcoin, ethereum, ripple and litecoin, the company said in a statement.

In addition to the one million customers milestone in 2024, Luno has recorded 32% growth in cumulative transaction volume from last year, bringing its platform’s total cumulative transaction volume to over RM87 billion, another clear sign of confidence in the growing crypto market.

Further, Luno has processed more than 72 million transactions in total, encompassing the depositing and withdrawing of ringgit and the sending and receiving of digital assets. Luno’s assets under custody for both digital and ringgit have more than doubled to RM4.28 billion from last year.


The digital exchange’s staking services experienced substantial take-up, with Ethereum dominating at 55% of staking assets under custody, followed by Solana at 25% and Cardano at 20%. Cryptocurrencies such as Bitcoin, Ripple, Solana and Ethereum have emerged as the most traded and favoured cryptocurrencies among Luno users.

Luno is the world’s first regulated digital asset exchange to offer syariah-compliant Ethereum staking, highlighting its commitment to customer needs. Malaysia is the first country globally where this service is available, providing assurance to Muslim investors that their investments align with Islamic principles.

In addition, Luno has introduced Luno Institutional, a service designed for institutional investors, professional traders and fund managers. This offering includes advanced account setup for managing multiple entities and access to a dedicated account manager for tailored solutions.

Cryptocurrencies saw a surge in price following Donald Trump’s impending return to the White House. The incoming US administration has been widely known to be pro-crypto and pro-business. Several individuals nominated to key positions have stated their intention to support the US in becoming the crypto capital of the planet and accumulating a national stockpile of Bitcoin.Luno’s general manager for Asia-Pacific, Aaron Tang, said these macroeconomic factors have contributed to doubling Bitcoin’s price since the start of 2024.

On Jan 1, 2024, Bitcoin was at RM198,911. In December 2024, Bitcoin set a new all-time high of USD 100,000 (RM442,000).

Sign up for Luno - get rewarded in Bitcoin!

  • Founded: 2013
  • Supported Cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), Chainlink (LINK), Uniswap (UNI), Cardano (ADA), Solana (SOL), Polkadot (DOT), Cosmos (ATOM), Avalanche (AVAX), Polygon (MATIC).
  • Deposit fees: free for amounts RM 100 and above
    • FPX Instant Transfer: Free (RM 1.00 for amounts below RM 100.00)
    • Touch ‘n Go eWallet Free (RM 1.00 for amounts below RM 100.00)
  • Instant buy/sell fees: 2%
  • Buy/sell fees (exchange): 0.6%
  • Withdrawal fees: RM 0.10 (bank transfer)
  • Maker fees: 0.25%
  • Taker fees: 0.5%

2. Binance


Within 8 months of launching in July 2017, Binance quickly skyrocketed into the world's largest cryptocurrency exchange by trading volume, processing more than $1 billion on a daily basis. It’s rise to popularity can be attributed to the impressive number of cryptocurrencies they offer, professional attitude, friendly and transparent CEO, and low trading fees.


3. Sinegy – local team (full approval from the Malaysia Securities Commission)


Sinegy is a cryptocurrency exchange founded in June 2017. The team is fully local and is based in Penang. The most attractive feature of Sinegy is the reward system to market-makers. During the execution of trades, makers get a 0.25% rebate while takers pay a fee up to 0.5%. Upon obtaining full approval from the Securities Commission of Malaysia, Sinegy has commenced trading for pairs such as BTC/MYR and ETH/MYR.

Address: Unit 3.2, Wisma Leader, 8 Jalan Larut, 10050 George Town, Penang, Malaysia.


  • Founded: 2017
  • Supported Cryptocurrencies: Bitcoin (BTC), Ethereum (ETH)
  • Deposit fees: Free
  • Withdrawal fees: RM 0.10
  • Maker fees: 0.25%
  • Taker fees: 0.5%

4. Tokenize Exchange – Singapore-based (full approval from the Malaysia Securities Commission)


Founded in 2017, Tokenize is a Singapore-based digital asset exchange which facilitates the buying and selling of over 30 digital currencies. It has obtained full approval from the Securities Commission of Malaysia to operate as a digital asset exchange. The exchange is planning to introduce a reward programme and several services related to crypto-fiat pairings in Malaysia.

Tokenize Technology (M) Sdn. Bhd.
Address: Unit 19-03, TSLAW Tower, 39, Jalan Kamuning, 55100 Kuala Lumpur, Malaysia.


  • Founded: 2018
  • Supported Cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), Uniswap (UNI), Solana (SOL)
  • Deposit fees: Free
  • Withdrawal fees: Free (fiat)
  • Maker fees: 0.1%
  • Taker fees: 0.8%

5. MX Global

Founded in 2018, MX Global Sdn. Bhd. is a fintech company based in Kuala Lumpur, dedicated to creating a secure and accessible cryptocurrency trading platform. The MX Exchange supports trading in Bitcoin and Ethereum, providing end-to-end solutions for storing, buying, and selling cryptocurrencies. MX Global's platform integrates robust cyber-security controls and compliance management systems. Additionally, the company collaborates with leading advisory and legal firms to ensure best practices in compliance, business operations, and risk management, aiming to be the preferred liquidity platform for cryptocurrency investors and token issuers.

  • Website: https://mxglobal.com.my/ 
  • Founded: 2018
  • Supported Cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL)
  • Deposit fees: Free
  • Withdrawal fees: RM 0.10
  • Maker fees: 0%
  • Taker fees: 0.5%

6. Hata

Hata, launched in 2022, is Malaysia's newer cryptocurrency exchange, and also the 5th regulated Digital Asset Exchange (DAX) after receiving Approval-in-Principle from the Securities Commission (SC) in November 2022. As the first platform approved as a Digital Broker, Hata can seek liquidity from other regulated exchanges, enhancing its market reach. Hata enables businesses and consumers to transact cryptocurrencies with fiat currencies like the US Dollar and Malaysian Ringgit safely. Regulated by the SC and the Labuan Financial Services Authority, Hata is committed to providing secure and accessible cryptocurrency trading.

  • Website: https://hata.io/home
  • Founded: 2022
  • Supported Cryptocurrencies (MYR Market): Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), Chainlink (LINK), Uniswap (UNI), Cardano (ADA), Solana (SOL), Avalanche (AVAX), Polygon (MATIC).
  • Supported Cryptocurrencies (USD Market): 37 cryptocurrencies
  • Deposit fees: Free
  • Instant buy/sell fees: 1%
  • Withdrawal fees: RM 0.50
  • Maker fees: 0%
  • Taker fees: 0.1% - 0.4%

7. Torum

Torum International has emerged as a significant player in Malaysia's cryptocurrency landscape, becoming the sixth digital asset exchange (DAX) to receive an approval-in-principle from the Securities Commission Malaysia (SC) to operate as a Recognised Market Operator (RMO). Additionally, Torum has been approved to function as a digital broker, enabling it to access liquidity from other exchanges for fairer market prices. As a subsidiary of Torum Technology, a "SocialFi Metaverse ecosystem" established in 2018, Torum aims to simplify crypto trading and foster adoption in Malaysia, backed by support from major industry players like KuCoin Labs and Huobi Ventures.

  • Founded: 2020
  • Digital Asset Exchange Platform not launched yet

Bitcoin ATMs in Malaysia

Unfortunately, there is no known Bitcoin ATM in Malaysia (source).

Peer-to-Peer Marketplace

Another way to buy and sell crypto in Malaysia is through a peer-to-peer marketplace (P2P). Instead of going through an exchange platform, you can sell it directly to another individual. Sellers will post what they have for sale, how much they want it for, and acceptable payment methods.

Step by Step Guide: Buy Bitcoin or cryptocurrency in Malaysia

Buying bitcoin and other cryptocurrencies in Malaysia is a simple process and usually takes less than 10 minutes to get fully setup.

The first step is to register with a platform, app or exchange and complete a Know Your Customer (KYC) process. 

1. Compare cryptocurrency exchanges.

The easiest way to buy Bitcoin is from a crypto broker or exchange. Comparing exchanges lets you find one with the features you’re looking for, such as low fees, an easy-to-use interface, or 24-hour customer support.

2. Create an account.

Once you’ve chosen an exchange, you will typically need to create an account. This involves entering and verifying an email address, choosing a password and verifying your identity. You will usually need to have your phone and some identification documents handy to complete the verification process.

3. Make a deposit

Once they verify you, you can deposit transfer funds from your bank account to the exchange. There is wide acceptance of credit and debit cards, and certain exchanges also allow cash payments, but these payment methods typically incur higher fees so may not be ideal.

4. Buy Bitcoin or cryptocurrency

After your deposit has gone through, you can trade your funds for Bitcoin. On easier-to-use exchanges, this is as easy as entering the amount you want to purchase and clicking “buy”.

5. Withdraw Bitcoin to your personal wallet (optional)

Once you’ve made the purchase, you can withdraw the Bitcoin to your personal wallet.


How to Buy and Sell Bitcoin in Malaysia for cheaper fee

Our recommendation for new users: make use of any new user promo when you start*, then learn how to use the exchange feature (rather than the instant buy/sell feature) so you can save money on fees.
  • Buy/Sell on Exchange: Fee = 0.6%
  • Instant Buy/Sell: Fee = 2%
Below, Suyin explains how to use the interface to get the cheaper fees:


Is Cryptocurrency Legal in Malaysia?

The Central Bank of Malaysia released a statement in 2014 clarifying that it does not regulate the operations of Bitcoin. Bitcoin is legal to trade although not legal tender, meaning they are not recognized as an official form of payment. 


However, this does not imply that cryptocurrencies are illegal. 


There are no laws prohibiting the exchange of services or assets using cryptocurrencies in Malaysia. For example, while US Dollars are not legal tender in Malaysia, it is not illegal to use them if both parties involved in the transaction agree to it. The same principle applies to cryptocurrencies.

Selected cryptocurrencies are legal in Malaysia and are regulated by the Securities Commission Malaysia (SC) under the Digital Assets Guideline, issued on October 28, 2020. This regulation was a significant development for the crypto community in Malaysia, as it brought clarity and legitimacy to the use of digital assets.

Approved Cryptocurrency Exchanges in Malaysia

As of the time of writing, the Securities Commission Malaysia has approved SIX exchanges to operate in the country:

  • Hata 
  • Luno
  • SINEGY
  • Tokenize
  • MX Global
  • Torum
The approval process for these exchanges was rigorous, with over a dozen applicants failing to meet the stringent requirements set by the SC. The exchanges that were approved had to demonstrate their ability to adhere to strict regulatory standards, which included having an independent trustee to safeguard investors' funds.


Is Crypto Taxable in Malaysia?

In Malaysia, it’s important to learn about the tax rules for trading cryptocurrency, just like any other investment. The Inland Revenue Board of Malaysia (IRBM) sees cryptocurrency as a security. This means that earnings from trading may be taxed as capital gains.

You should keep careful records of your cryptocurrency trades. This includes when you bought them, how much you sold them for, and any fees you paid. It’s a good idea to talk to a tax advisor who knows about cryptocurrency rules. This will help you to follow local laws properly.

Understanding Your Tax Obligations

Tax rules about cryptocurrency can be tricky and differ a lot between places. In Malaysia, the Internal Revenue Service (IRBM) sees cryptocurrency as a type of security, not a currency. This means that profits you make from trading cryptocurrency are usually seen as capital gains. They might be taxed under Capital Gains Tax (CGT).

But how your profits are taxed can change based on things like your situation, how long you hold the crypto, and what type of trading you do. It’s important to keep up with the latest tax rules from the IRBM. You should also talk to a tax advisor who knows about cryptocurrency laws in Malaysia.

It’s key to know and meet your tax responsibilities to follow local laws.

Keeping Records of Your Transactions

Keeping accurate records is very important in cryptocurrency investing, especially for taxes. You should write down all your crypto transactions. Make sure to include the dates, amounts, types of cryptocurrency traded, and the platforms where you did the trading.

This careful record-keeping can be very helpful when it’s time to file your annual taxes. It makes the tax reporting process easier and shows that your trading activities are legitimate.

Keep in mind that tax laws about cryptocurrencies can change. It’s a good idea to stay updated on any changes and adjust your record-keeping if needed.
 

Conclusion

By learning how to buy Bitcoin or crypto in Malaysia, you will be able to expand your investing horizon. However, cryptocurrency and bitcoin are considered relatively new as compared to other traditional investment options. As such, the risk may be relatively high and you should do a thorough research and be cautious before investing.

Those wishing to verify if a digital asset operator is registered with the SC or not permitted to operate in Malaysia can check at Cryptocurrency Malaysia Securities Commission.

Try to diversify your portfolio and keep up with market trends. You can choose to hold your investments long-term or trade short-term (for professionals). Whatever you decide, make sure you are informed to protect your money. Watch out for scams and trade in a secure way. It’s smart to get professional advice about taxes too. By following safe practices and learning more, you can do well in the crypto market.

“Be fearful when others are greedy and greedy when others are fearful.” - Warren Buffet

FAQ: Crypto and Bitcoin Exchange Platforms in Malaysia

What is the best exchange to buy bitcoin from in Malaysia? 

There are 6 trusted exchanges operating in Malaysia with the most popular being Luno and Binance. You can review each of these exchanges and find best exchange that works for you.

What is the Best Bitcoin Wallet in Malaysia?

The best Bitcoin wallet in Malaysia depends on user preferences. Hardware wallets like Ledger and Trezor are highly recommended for their security. For mobile users, Trust Wallet and Bitcoin.com Wallet are popular for their ease of use and convenience.

Can you buy bitcoin in Malaysia using debit or credit cards?

Most of the exchanges operating in Malaysia have debit/credit card payment options available. Remember that this requires completing KYC (Know Your Customer).

Should I leave my bitcoin on an exchange after buying?

For complete custody of your Bitcoin or other cryptocurrencies it is recommended to store them in a hardware wallet as it keeps private keys safe and entirely offline.

Can you buy bitcoin anonymously in Malaysia?

You can buy bitcoin safely and anonymously by using P2P (Peer to peer) exchanges like Bisq, Paxful and LocalSwap.

Can you buy bitcoin futures in Malaysia?

Popular Bitcoin futures exchanges like Binance and Bitmex enable users to long or short BTC with up to 100x leverage. Frequently Asked Questions

How Much Money Do I Need to Start Investing in Cryptocurrency?

The money you need to start investing in cryptocurrency, using platforms like Cash App, can change based on the platform you pick and how much you want to invest. There isn’t a specific minimum amount required. It’s best to begin with a small investment that fits your budget and how much risk you are comfortable with. 

Can Cryptocurrency Be Converted Into Real Money?

Yes, you can usually change cryptocurrency into fiat currency, like Malaysian Ringgit, using cryptocurrency exchanges. This action is often called “cashing out.” Make sure the exchange you pick supports the conversion you want. It should also have enough liquidity for an easy transaction.

What Should I Do If the Market Crashes? 

Market crashes do happen in cryptocurrency investment. It is important to have a clear investment strategy. You should manage risk too, maybe by using stop-loss orders. Staying calm and not letting emotions guide your choices is key when facing these situations.

Crypto token vs coin: What's the difference?

The core, major difference between crypto coins and tokens is the fact that coins have a blockchain of their own, while tokens reside on already-existing blockchains. For example, Bitcoin is a coin, since it does have a dedicated blockchain. On the flip side, Shiba Inu is a token, since it's based on the Ethereum blockchain.

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