Thinking of getting some bitcoins. Which exchange do you all recommend? I prefer one dealing with MYR with ease to transfer funds from and to local banks. I think the exchange should also have ease to buy/sell bitcoins without to much spread or charges?

No experience with bitcoins so any recommendation is welcomed.

In Malaysia, you really do not have much choice for exchanges.
Personally, I use XBit Asia, but the liquidity is low and the spread is not very attractive.
As I understand, there is another one called Remitano which I've not used before.
There were another 2 - 3 more before, but for some reason, their bank accounts have been closed by their respective banks (likely some form of interference by BNM methinks) and therefore can no longer deposit or withdraw MYR.

How's prices on xbitasia? And the fees?

Thx for the info. So difficult to buy bitcoins over here.

Will take a look at Remitano.....

can TS edit the 1st page and post up FAQ? every week also got ppl ask about where n how to buy btc lol

Can buy from me.

You can check out their fees in their website below:
https://xbitasia.com/index.php/countries-fees

To be honest, I've only bought there twice.
I find the spread to be too high, means you have to sell at a discount and buy at a premium, compared to the international average price.
The biggest reason is because the liquidity is too low.
There's not enough people buying and selling.

Trade fees (XBIT)
Market Maker fee Taker fee
BTC/MYR 0.25% 1.00%

ESCROW FEE: (Remitano)
If you are the person that created the advertisement: Free
If you are NOT the person that created the advertisement: 0.5%


Remitano charges is the lowest currently

How to buy from you? Got give discount?

Thx for the info. Thinking of using remitano but doing further research. The advertisement thing is interesting but have to find out how it works.......

If you do use Remitano later, do share your experience with us after.
Good luck!

I've bought all my bitcoins, around RM 600 worth over a period of time via localbitcoins.com

They have sellers which sell exactly at market price or maybe 0.5%-1% higher. I don't buy from those who sell >1% market price and the escrow system prevents fraud for sure.

Actually I almost wanted to use Remitano. Looks like localbitcoins is an alternative. Thx for the info.

If you're still young, I recommend to buy hashpower instead you mine bitcoin from trusted could mining providers.

This post has been edited by effectz: Feb 12 2017, 11:53 PM

Oh, that is foreign to me. I don't understand the sentence at all! Still very new with bitcoins.

Oops, found out that localbitcoins.com charges a premium of 5-10%. Not attractive then. : https://www.buybitcoinworldwide.com/exchanges/localbitcoins/

I thought these days it is no longer cost effective to make money by mining bitcoins, as technology advances too quickly and there are so many large scale mining farms in Northern Europe and China already; the investment alone that you need to put into getting the hardware and the electricity bills to run them 24/7 will be higher than the returns you get from mining.
It's good for learning and the experience of it, but I do not think it is a viable investment for the average person.
But maybe I'm wrong.
Are you able to obtain a decent profit from mining? Do share your experience with us. I know a few of the forummers here are miners as well.


The 5 - 10% "premium" is not charged by localbitcoins.com, but rather it is just the going rate of the exchange, i.e. the price that buyers and sellers are willing to trade at.
Localbitcoins.com itself charges only 1% of all trades.
Most other exchanges require some form of identification, like your ID, address, phone number, bank account number, etc., but Localbitcoins.com does not require those, since it is basically just a P2P platform. It only acts as a middle man between two parties, who agree to buy and sell at a certain price.
This means that it is extremely anonymous and private, and some people are willing to pay a higher price for this privacy.

I see. Cool, I have registered with localbitcoins. Hope to get some bitcoins soon!

guys, after BitX and Coinhako no longer can deposit and withdraw from Malaysian banks, what are their replacements?

I haven't used it myself.
Let us know your experience later.


So far, I know XBit Asia, Remitano, and Localbitcoins.
There may be others that I do not know about.

Hi all,

Hope you got your tickets, they are running out fast.

The venue might change, get updates from the Telegram channel.
https://t.me/bloktex

It's official - Andreas M. Antonopoulos visits #malaysia for the 1st Time! #bitcoin guru!

A day with Andreas M. Antonopoulos: Discover, Engage and Connect to the Future of Blockchain and Cryptocurrencies.

DATE : 22 February 2017 (WED)
TIME : 2pm - 5pm
VENUE : TBA

Speaker : Andreas M. Antonopoulos

Event URL : www.bloktex.com
Telegam Updates : https://t.me/bloktex

This post has been edited by sirxl: Feb 15 2017, 10:45 PM

localbitcoins takes a 1% fee from your bitcoins.