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 Maybank Inward TT Ruling from 27 March, New ruling to hold all incoming TT

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duplicated
post Mar 30 2017, 04:29 AM

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QUOTE(Hanford @ Mar 29 2017, 09:30 PM)
how about hotforex ? Igoforex ?

hotforex hv office in malaysia.

Igoforex oversea but middleman in malaysia.

JJPTR ? sorry i didnt invest this.
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What are you talking about?
duplicated
post Apr 7 2017, 04:35 PM

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QUOTE(wengherng @ Apr 7 2017, 12:12 AM)
Yup, most definitely, the price could move in either direction.
But, from personal experience, barring some extreme cases like sudden hacking and theft from an international bitcoin exchange or something planetary like that, these days the price is relatively stable, maybe moving a few US dollars up or down within an hour or two, or something like that.
But because I could buy bitcoin instantaneously, and then transfer it to my bitcoin account on the Malaysian exchange and sell it there within the hour, usually the price movement is not significant.
What could be significant, though, is the buy/sell spread (i.e. the price you paid for it overseas, and the price that someone in Malaysia is willing to pay for in ringgit) which could sometimes be a few percent off......but from my personal experience, I lose that amount in forex anyway when I use TT, so I'm cool with that.
Plus, I can get the money in my local bank account within the same day, which is good.  thumbsup.gif
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I am not familiar with bitcoin transfer. Correct me if I am wrong.

You buy a bitcoin using your overseas account and sell it to a Malaysian buyer through a bitcoin middleman/broker. Then the broker will transfer the money to your Malaysian bank account. Am I correct?

If the amount is huge, how do we answer to BNM? Is there any way to avoid BNM's 'radar'?
duplicated
post Apr 8 2017, 07:09 AM

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QUOTE(wengherng @ Apr 7 2017, 05:58 PM)
Well, generally speaking, yes that's the process, but instead of a middleman, we sell it on an online exchange (just like using HLebroking for stock exchange trading).
Once you sold the bitcoin, the amount is immediately credited into your account in the exchange (no time delay).
From there, you can just click on fund withdrawal, and put in the amount you want to withdraw, and the exchange will send to your bank using normal GIRO.
I have never transferred sums large enough to draw the attention of BNM (sad...) but if that's an issue, you can basically withdraw several times over a few days, I suppose.
But the downside then will be that the price of bitcoin might go up or down within those few days.
Note that I am not advocating that bitcoin is the best method for funds transfer (there is still risk involved).
I am just sharing my personal experience that it's worked well for me so far, for funds less than RM20k at any one time.
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Thanks.
duplicated
post Aug 13 2017, 08:25 PM

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No issue TTed back to Malaysia from Australia. Just to update.

 

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