For people who don’t know what is Binance, Binance is a cryptocurrency trading platform.

From what I have found online:
1. Binance has low transaction fee
2. Binance has way more crypto to buy and at a lower rate
3. Binance is easy to register for an account

But
1. Binance can’t let u withdraw fiat currency, only crypto can be withdrawn

The above points are what I have gathered after doing some searching

The problem is that I’m still at lost on how to withdraw funds into usd/myr

I have heard about some intermediate application to transfer funds from btc to usd/myr like TransferWise and other application. But I’m still not sure how is the process and how’s the rate of exchange.

ok.

locals prefer Luno

Transfer to xrp and send to luno, then withdraw?

Coz xrp have very2 low fees

They don't really have a fiat on-ramp for MYR but I think you can still use a credit card and that would only be purchases.

To buy and sell in MYR, you can use the P2P function there but that would of course be subject to whether there are enough willing sellers.

This post has been edited by Travis_Bickle: Jan 31 2021, 02:36 PM

robinhood

funds are safu

You can use P2P function on binance to withdraw cash (RM). The binance P2P is free at the moment and the ask /bid prices of the sellers /buyers are very competitive. I find it most convenient to move money between MY and SGD or any other currencies. It's like bank wire on steroids - faster and cheaper.

The cheapest way I find is to sell your crypto on the spot market into USDT and then sell your usdt on their P2P platform. Buyers will bank MYR directly into your Malaysian bank account

yeah im opening luno account too but the options are too little

thats y im considering using binance as side

dont think xrp is available in malaysia, app store search came up nothing

yea credit card deposit is possible but the rate im not sure how high is it, if its too high it isnt worth for big sum

Think of Binance as a casino more than an exchange.

To play there you need to buy USDT/BTC (casino chips) then trade until rich or bankrupt. Then to cash out, you need to send that to a regulated exchange and change for "real" fiat money.

Can become rich or poor as long as the casino still standing. But if the casino suddenly tutup while you are still inside (mtgox, quadriga, many more) then don't cry father cry mother, you knew the risks going into the casino.

Good luck TS, don't get addicted to gambling ya... everything has a price.

do note that binance is a centralized exchange, there are other safer decentralized exchanges out there, but binance have the most coins to trade

havent u heard of localbitcoins and other p2p platforms?

sounds pretty good to me, is it trustable for most p2p transactions? like would they take ur cryto/usdt and without deposit the money into ur account??

I mean convert the coin to xrp coin and send it to luno, then withdraw

just sell with the P2P function.

simple.

good to see new blood.

yup, thats the easiest.

ts mau gamble 15 usd je, nak untung wang nasi lemak besok

trying to join meme crypto, just for fun lol, if go up got profit then happy, if go down just go off for a few days or weeks or stop playing, but yea probably for the fun and giggles

in binance there is also P2P where u can sell your crypto's to MYR/SGD or others directly to your bank account.

Luno is for newbies. Luno/Sinegy/Tokenize just simple buy/sell and transfer/deposit. no brainer stuff.

Binance/Bitfinex/Bittrex is for crypto veterans. It has more product offering like Staking, Saving, margin etc.

later share FR on Binance remember to tag me, thank you.

Not true.
You can "deposit / withdraw" using P2P Transfer function.

It's like an escrow service, or similar to Remitano

Luno can trade XRP

no need wait FR. i tell you straight, as a Binance user of 3 years, it's good. the UI/UX is responsively good. the mobile app is friendly too.

I been trading in Binance since they 1st launched.. never looked back on stupiak LUNO with exorbitant trading fees + other misc fees.

need 10% kickback referral on binance? PM me.

CC mafioso sedih

+1

+1

i used to be using bittrex last time when i first started crypto

but for now binance is the best ledi, its the biggest exchange with the biggest volume and have the most coins traded, theres so many counters

and verification process is simpler than other exchanges

just move crypto from binance to luno. then cash out to ringgit using luno.
just make sure the crypto you are sending to luno is something that luno recognizes like BTC or ETH. make sure you send to the correct address type. dont send ETH to a BTC address.

been consider using this way to withdraw, but after the p2p people recommended here i think p2p its quite cheap and comparatively lower exchange rate than luno

but yea later on after im trying to cash out i will try both of them to actually compare the rate

thanks for the assurance and review, im skeptical of the app that people promote either tru ads or hype, but ur comment does make me more trustful on the platform

No skeptical la, people jsut not well educated on other options.

Just because LUNO is the most basic to get into crypto, any tom dick and harry would recommend it.

But I wouldn't because as what I mentioned earlier... just DYOR. If any inquiries jsut blast here and /k would help

binance very nice but maybe complicated for beginner, luno is much simpler

remitano ok je

How much is deposit fee to binance? Correct me if I'm wrong but Luno is free and myr > btc can go as low as 0.25%.

i think is 15 usd first time for binance , both i havent used yet, luno still pending verify

15 USD first time? One time fee?

On Luno, if the deposit is below 0.0001 BTC, you have to pay for the network transfer fee.

Dunno register using whos link the referral machiam tiada

I'm using remitano. Why don't use this? Can withdraw to local bank instantly. Got few crypto currency including the hot ripple now. Maybe you can use binance also other coins, when wanna withdraw, transfer to remitano. you lose some fees.

This post has been edited by yvliew: Feb 1 2021, 05:38 PM

ask mafioso, he jsut tried out LUNO last night.. I told him binance much easier actually.

I haven't been using LUNO for past 3 years after Binance launched.
The last time I used was transfer my remaining BCH to hardware wallet and it took 1 FUKEN WEEKS TO PROCESS my withdraw

aduhhhhh, mungkin dia sudah songlap all the bonus kickback tu.

I split 10% 10% to both parties, baru fair.

On binance it stays 0.1%? If so that's nice.

I'm using Luno. Using exchange fee is 0.25%. Saw some yt video of older luno, used to be able to get 0% with exchange.

The reflink gets mangled to flyingspaghetti monster here

Binance has no fees for deposits.

trade using BNB even got discount

i remember my first exchange is poloniex hahahaha. then bittrex. then bitfinex. then cryptopia for ICO shitcoins. then binance.

but binance currently tops hands out. variety of services and product under 1 roof.

Gonna be shameless and shill my referral link

https://www.binance.cc/en/register?flyingspaghettimonster=CO6JW7M8

10% trading discount for you
And 10% for me.

Win win situation if you register through my link and if you have no referral link to register with

yeah, last time i used to like bittrex alot cos its the safest last time and big volume alot of coins

but then binance starts to eat up most of the market share and volume, no choice hav to switch to binance

How to transfer fund into binance to start buying? Credit card?

P2p.. buy usdt with by bank in our myr

yup i agree. pointless to trade in a low liquidity exchange, which is easy to manipulate price.

how's the withdrawal/transfer fees for Binance?

I tend to buy quite a bit of stablecoins & alts for metamask.

but sad to see bittrex end up like that, they were one of the top volume exchanges last time, and they were one of the first to implement those security measures like 2FA etc

now they are not even in the top 10 or 20 exchanges, daily volume not even 10% of binance's

but yeah u are right, no point trading in a low volume exchange, when u want to sell ur coins theres nobody to buy it

transfer fee? just like normal network transfer fee la..

can use P2P for fiat conversion.

trading only 0.1% fee.. very cheap yo compared to other reputable like Bittrex Bitfinex and LUNO.

I also have Metamask for other portfolio as well. Just parking, not goina touch it.

I withdraw all my coins to Binance for parking.. yeap no point trading at low volume exchanger. While others are in real time trading, u get lagged out and lost the opportunity

either innovate or die. binance and bitfinex aggressive in expension, introducing new product and services whereas bittrex just remain... like that. no big features like the current exchanges that put alot of things under 1 roof.

oh well. maybe there will be another one to take on binance?

same here lol, i dont park in wallets cos it will be a hassle when want to sell them during ATH or bull period, i rmb back in 2017 i had my btc parked in the wallet, that time $20k ATH i want to transfer out and sell, the transaction fee is rm1k++ for normal transfer speed , in the end didnt managed to sell and btc crashed the next few days

get rekt bro.. I kena game by LUNO last 2 weeks ago jer.

I just happen to salvage whatever I have on LUNO to my ledger nano. Remaining BCH transfer from LUNO to ledger took 1 week

1 FUKEN WEEK!!!!!!!!

FUK LUNO.

i think they got hit hard by the US regulations too (since they are US based), alot of KYC needed to be performed on their customers, even those foreign ones, eventually many non-US users moved to other platforms like binance and yup that time binance aggresively expanding, take away all the bittrex clients

nowadays bittrex mostly US users and the active counters are BTC, ETH and a few famous coins, other counters all virtually dead

wahh 1 week , ban luno liao!

FYI if you don't know P2P transaction to withdraw to MYR is F.O.C no transaction charge there.

bittrex us client pulak kena rampas from coinbase and gemini hahahahaha. what to do weyyyy. onshore fail, offshore also fail.

I memang banned luno liao.. even transfer remaining BCH to other Bitcoin address also cannot (note that BCH and BTC uses same address scheme)

Had to transfer to my ledger only can.. bodo punya luno.

haihh, will they close down soon? i still have some USDT over there, dont want to put all coins in 1 basket

I didn't go back to Luno/Remitano after I found out Binance can do P2P transaction and its USDT rate is better than Remitano.

Luno failed my verification and it's been weeks they have yet to contact me, and the Twitter support is not replying DMs at all. Never use boomer exchange for zoomer stuffs, it's just incompatible.

but im surprised many ppl still using luno now, even those hodlers of btc or alts, they never heard of the luno's bank account kena frozen incident ke?

i suggest u take out the USDT and park at DeFi for interest yield yo. Or Binance's saving USDT @ 6%.

nufag dunno that incident... took 1 year only to unfrozen account.. lucky mine all into Binance before the shit storm

yeah that sounds like a good idea, been seeing some /k parking their coins in Defi for interest, will move it out asap

lucky you, my fren's money kena frozen inside for 1 year baru can take back

coz before Luno, I have Binance already.. just use LUNO as conversion to Binance jer

i use pancakeswap DeFi 1st jan 2021, the yield around 230%. although not stablecoin, but it gives interest in native token.

but due to the price rally, with the monthly interest earned... i don't need to work already. checkitout.

wahh 230%

yeah if price rally like 500-600% or more (very common for low marketcap coins), u really untung kaw kaw ledi

minimum first time deposit to buy crypto yes, but for first time 15 usd

then later any amount is on u already, no limit i guess

shit yo, damn they could really trick everyone if they put more aggressive ads like shoppee did

yeah imagine u needed the money to cash out.. takes longer time than I expected.

but transfered 5 digits worth of ETH takes about 10 minute.. hmm

maybe they dun have BCH in hands, had to buy somewhere then transfer to me

is ledger worth it to buy rn?? saw one on carousell 250 only, macam yes wei

and its to keep crypto btc only right and we'll have to withdraw using like binance to convert back into usd/myr??

dun buy ledger from unauthorized reseller, just get from Ledger site.

U know that there is hardware tempering on it if that's not legit ledger. Meaning hacker gets your private keys and transfer out without your knowledge.

This post has been edited by Doomsday: Feb 1 2021, 10:17 PM

probably because the ads are hiang enough, thats y many people think that its reliable

like shoppee, ads everywhere, everyone think very good then business booming for shoppee

wow,big money, mind if i ask u got interest how much?? seems like a solid deal for newcomers like me

and u also need to be careful when using a wallet (be it physical or mobile), cos u will be entirely responsible for the access to the wallets, if you lose the access to the wallet means the coins inside is as good as gone, its not like banks u forgot ur password u still can go branch prove your identity and reset the password, for cryptos nobody knows who is the owner of the account and only the person holding the keys can access the wallet

https://bitstore.com.my/product/ledger-nano-s/ found this for malaysia one, legit mou??

and also above link think no stock already, other than that where can i buy one?? cuz this type of thing seems like very cold here and not many shops got sell one

by losing access is liek losing the long bunch of key codes?? are those for one time usage or like the wallet key thats for the whole wallet including all amount in the wallet??

I am not sure is this one legit or not, best bet is to get software wallet for starters.

yes, it is a bunch of phrases like, fish, market, yacht....... that's your private key

if u lost the phrases, u are GG

1) private key - key to access the wallet

2) 12 word seed - words to restore the wallet if u lose access to your original wallet , this will create a new wallet and transfer the coins from your old wallet to this new wallet

if someone gets your 12 word seed, then he can basically get all the cryptos in your wallet 1 shot

that 12 word seed seems like the biggest gg if got stolen

any software wallets to recomend?? saw it when searching saying that some wallets are scam, they could basically exit scam and all money gg

yes, and u are entirely responsible in keeping the 12 word seed safe, if anyone else gets it and transfer away your cryptos, then its over already, you cannot go complain to bitcoin foundation say got ppl steal your 12 word seed and steal your bitcoins away from your wallet and reverse the transaction, cos nobody can prove the owner of the wallet is you and bitcoin transactions cannot be reversed

coinbase?

I using metamask for keeping other coins. not sure suitable for you..

if stolen or lost, your whole crpyto is gone in cyberspace.

It's your responsible to keep secure it. When u get the ledger it has cards for u write it down the phrases for offline keeping.

not just stolen.

if u lost it also u will never get it back.
this is the golden key.

bro, price rally 260% already la (30D).

https://www.coingecko.com/en/coins/pancakeswap/myr

yield + rally = ??????

the marketcap not too low also. inching closer to uniswap and sushiswap.

per mth or per day?

per day at current price: 1,XXX

This post has been edited by ShinG3e: Feb 1 2021, 10:52 PM

fuyooh profit kaw kaw

wahh u really huat liao

so tomorrow throw letter liao?

I have ledger new one Rm200. Till now using hardware ledger. Just make sure u set the password correctly la