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 Bitcoin and other Cryptocurrencies, Comprehensive guide on first page.

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stockerzzz
post Jun 10 2021, 05:35 PM

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QUOTE(Moogle Stiltzkin @ Jun 10 2021, 04:00 PM)
can someone explain the best way to buy cardano ada via binance?

like for example, you can p2p to buy eth or btc outright using MYR. But you can't for ADA.

instead you have to purchase one of the available crypto, then swap that for ADA using binance.

So question is, between buying ETH, BTC or USDT to then trade for ADA, which is the best method?

to my understanding btc and eth fluctuate too much, so may make a loss if converting from it to ADA. but USDT is pegged 1:1 to the US dollar in value. any tips?

or instead of P2P, is it better to just buy direct from the marketplace instead in binance?  hmm.gif
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i think you can buy direct using bigpay mastercard , with the currency using EURO. i saw in this forum some success in buying using this method, but i not sure is the rate reasonable compared to p2p rate. current p2p rate is 4.18 which i think is quite good? hope other forumers can correct me.

stockerzzz
post Jun 11 2021, 01:35 AM

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by the way, for those that buy ADA, where do you guys store it? at the exchange or at which wallet? currently i am just staking the ADA at binance. any of you stake ADA at Trust wallet? is it better?
stockerzzz
post Jun 12 2021, 01:03 AM

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QUOTE(Moogle Stiltzkin @ Jun 12 2021, 12:44 AM)
oo ty. so this is why  sad.gif

but how come though? i thought malaysia also allow luno exchange? so i didn't expect these kinds of issues on binance for sellers  :confused:

either way the buyer needs to know the bank details in order to purchase. unless you suspect binance themselves is leaking the listed account on their platform?  :confused:

or could be some bad traders tried to scam, so some of these reported accounts memang get reported by buyers which led to it being frozen  sweat.gif

but anyway in this kind of situation, how should the buyer prove to binance if there is a dispute that they sent the money to the seller but the seller did not send the crypto? then what? can you still prove the account you paid to is really the sellers, if the seller did not list the account info on binance platform (which is why people buy on binance platform to begin with for some protection because of an intermediary). seller can turn around and say you paid to wrong account. but the account they give is on whatsapp and not listed on binance directly (see the problem?)

also you mention that accounts being frozen, does this also apply to sellers who are not frequent sellers who are just hodlr cashing out many years later?  :confused:

sorry i'm newbie so bare with me  smile.gif
do u list your bank account details on binance or do you requests users to whatsapp you?  :confused:

Also how to change your public display name as a seller?  hmm.gif
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actually bank details will be shown once you click buy, there is payment method of bank and from there there is the bank account number and name info. normally i didnt whatsapp the seller. so i am quite confused about your concern.
stockerzzz
post Sep 7 2021, 11:07 PM

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QUOTE(MANUTD676767 @ Sep 7 2021, 11:12 AM)
Those who claimed September will be dropped kaw kaw based on record must be crying now?
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what about now? lol
stockerzzz
post Sep 7 2021, 11:24 PM

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haha the p2p rate has gone high in times of volatility
stockerzzz
post Sep 8 2021, 05:55 PM

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by the way, have any one of you guys directly buy binance smart chain coins from Trust wallet ? i am thinking of using this method or buy from binance and transfer to trust wallet? anyone successfully try to buy from trust wallet using visa/mastercard? because it seems no one mention this method before.
stockerzzz
post Sep 8 2021, 08:35 PM

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QUOTE(Patent @ Sep 8 2021, 08:23 PM)
buying crypto with credit card here isn't worth it.. you get charged more for transaction in usd
cheaper to buy with p2p
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but you still need to buy with binance and transfer to trust wallet. the gas fee willl be more expensive right?
stockerzzz
post Sep 8 2021, 11:25 PM

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QUOTE(ironman16 @ Sep 8 2021, 10:07 PM)
Thats why i prefer Celsius, nexo, youhodler instead of this kind wallet for staking. 😅
Just use the most convenient platform for u.
Diff ppl diff opinion.
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i opt for trust wallet because i want to go stake my Cake at Pancakeswap. should be more lucrative haha
stockerzzz
post Oct 7 2021, 04:57 PM

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anyone manage to snap some pancakesquad nft?
stockerzzz
post Oct 17 2021, 10:50 PM

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QUOTE(ljken @ Oct 17 2021, 07:30 PM)
Lost job at the end of August due to Covid. Full time for now until market recovers.
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so the return is ok?
stockerzzz
post Oct 17 2021, 10:54 PM

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the p2p rate now is just 4.145, wonder what trigger the low price? bull market?
stockerzzz
post Oct 17 2021, 11:25 PM

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QUOTE(ljken @ Oct 17 2021, 11:21 PM)
Enough to cover food and expenses without dipping into savings... good enough although can be better. But beggars can’t be choosers.
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so how do you cash out? through p2p or luno? so far no any issue in cashing out? as in got any tax people come find you?
stockerzzz
post Nov 17 2021, 03:27 PM

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QUOTE(jack2 @ Nov 17 2021, 03:22 PM)
Why you did not read the whole article and just focused the last para?

you did not read all and quoted me this... i hope you can read well before making debate again.

Read from this onwards:

This tax treatment is similar for active traders of shares and other assets. The profits made by individuals who occasionally trade cryptocurrencies or shares may be viewed as capital gains, which is not taxable in Malaysia. But the profits earned by individuals who trade frequently may be viewed as revenue and thus, deemed as taxable income.
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i think occasionally and frequently is a grey word, how frequent can be consider as trading
stockerzzz
post Nov 18 2021, 02:10 AM

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QUOTE(pleasuresaurus @ Nov 17 2021, 04:50 PM)
Actually Luno, Remitano and other local exchanges aren't really the major issue - they appear in the MY system as far as IRB is concerned, are governed by the system and are compliant to the system. Hence when IRB officer sees a significant influx into an account and proceeds to investigate, they would clearly be able to see the detailed sum, number of transactions (to justify trade/non-trade) etc. Whatever happens between registered entities like local exchanges and banks are flagged and observable.

What WILL invite scrutiny, however, is monies appearing from nowhere deposited via P2P that cannot be explained or justified. Especially so if the transactions are large, numerous, repetitive, trigger's Benford's Law etc..  This, I think, is the bigger concern. Notice that "explained and justified" can be equally as gray as "occasionally and frequently". The officer's would do as they see fit and have a lot of leeway in exercising their authority in investigating matters. That's saying if they want to cari pasal, they can.

Ultimately, I agree, it's safer to just declare.
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so when we declare under "other gains and profits" in borang BE, will it be calculated towards our tax?

 

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