Oh...by the way......if anyone is interested to know...BitX is now rebranded as Luno.
Just a company name change, seems everything remains the same, even the management team.
But unfortunately for Malaysia, their banking account issues are still unresolved at the moment, and we still cannot deposit or withdraw RM.

Can check with lucifart.
He said he's looking at selling some of his stash.

Exactly, the volume in XBit Asia is just too low, there's just too large of a spread between buy and sell.
If more and more people start using it and adding more liquidity, prices will surely stabilise.

I've not used Coinhako before......it can do deposits and withdrawals in RM?
Their website doesn't seem to have much info on that.

By the way, which hardware wallet are you using?

Actually I am also using coolwallet at the moment.
A bit expensive, but I don't really bother about the extra USD20 over the long term.
I was just asking you out of curiosity.

Since I am into long term investing and just accumulating at the moment, all my coins are in cold storage, I practically keep none in online wallets.
But yes, for those who trade, spreading your stash into multiple wallets is a prudent move.

When I bought, Trezor was going for USD99, while CoolWallet was going for USD119.
USD20 difference.
Actually I didn't mind either, just that I could get CoolWallet within 2 days, while I had to wait for international shipping for Trezor, and I didn't want to wait.

I am already involved in funds and stocks, this is just another asset class that I am diversifying into.
Since I've sold all my investments in gold, I needed somewhere to put my money, preferably somewhere sheltered from Malaysian politics.
Also, as I am working overseas, I am constantly looking into ways to minimise the fees I pay for transferring money back to Malaysia.
Bitcoin seems to fit all those criteria.

To be honest, I have only started recently, when the price was around USD800.
I have been reading about cryptocurrencies for a while actually, but since I do not invest in anything that I do not understand, so it's taken me a while to take the plunge.
I'm a very cautious (read: kiasi) person, so I was waiting for quite a while to see the general trend and development of bitcoin and blockchain technology, before I made the decision to put my money in it.
Now, I am convinced that blockchain will be a game-changer technology that is here to stay.
I'd even go so far as to say that cryptocurrencies to current old-school fiat currencies, are similar to the changing tide when the internet and emails were just introduced.
Nobody in the 1980's could even envision that one day we would all be sending free "mails" that could be received by anyone at any location in the world, absolutely free of charge.
I am convinced that bitcoin will do something similar to the current financial world.

Actually I sold off all my gold more than one and a half years ago, put the money together with my other investments in funds and stocks.
So, now take out some of that money and put in bitcoins.

Gold investments has its own merits. I still think it is here to stay forever, just that it doesn't suit my investment style.

Real-time market price......which market?
Which exchange are you using as a basis?

I use XBit Asia, and it works fine with Malaysian Ringgit.
The only downside is the lower liquidity, which inevitably raises the price and increases the spread.

Hardware wallet, Ledger now has a newer model, called the Nano S.

Yes, just for cold storage, the original Nano is good enough.
Although, the addition of a screen is pretty cool though.

Cool, thanks for the link.
This is very helpful.

How's the liquidity of Remitano compared to XBit Asia?

Took them less than 24 hours to verify mine.

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.

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.

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

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 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.