Dear Crypto Sifu/s, as the title mentioned. Securities Commission Malaysia currently only regulated Luno (please update me if they already regulated Binance). So therefore Luno is the main platform i used to expose myself to World of Cryptocurrency. I found that Luno currently has very few crypto currencies available in Malaysia compare to Luno at other country, and i wanted to invest in Stable Coin for Staking at Anchor Protocol. Wanna hear some advise from the Sifu out there, what is the cheapest way (I don't really mind the hassle) to get Stable Coins? I'm currently thinking of buying XRP then transfer to other platform and convert into Stable Coin since XRP got lowest "Fuel Fee" compare to BTC and ETC. So 2% on Platform + Fee + Probably Conversion/Swap Fee on another platform? Do share your insight on this.

P2P in binance

Still got meh I tot other currency like Aus nzd je

Luno got 2% fee and another cheaper one banyak sohai tot 2% is fix. The other one is 0.5% and 0.25%. check all local exchange for the best rate some time luno cheap some one sky high price. Fyi cheapest network fee is LTC luno charge like 1 cent je if withdraw from luno to other exchange , binance charge like 300-400x luno fee .

This post has been edited by MrBaba: Apr 16 2022, 09:06 PM

The other cheaper one you refer to is which one? I'm planning on using Nexo to exchange to Stable Coin, will look into LTC fee. Reason i'm posting this is because other platform will charge you N% of Bank/Card Processing Fee when topping up which is greater than the 2% charged by Luno on buying Crypto

I'm not sure why people don't post this info, maybe it's sensitive? If it is just let me know? But you can trade the RON currency on Binance, a lot of sellers there are Malaysians.

Buy Eth on Luno, swap to UST on Uniswap, then bridge via Terra's official bridge if no use Binance.

foreign exchange, min $30k usd

This can be very bad, ETH fee is sky high... my ETH still stuck in Luno.. can't really move it out from wallet due to fee.

No choice le if stick to Luno. Should be about $25 in total. Maybe count how much Anchor daily return needed to breakeven?

Inside luno app got 2 section normal 2% one and cheaper one ( exchange ) . If u pay 2% u memang water fish.

Eth network fee cheap dy la last time very expensive one

Huobi P2P got local currency

P2P either on an exchange, or buy it off people you know...

OMG!!!! Speechless...

Advice to use regulated ones and dont focus so much on 'keling sou' charges of petty 1%-2%-3% . Also if you think this petty 2%-3% is too much for you to take in, then you should not be in crypto in the first place because daily volatility can go up to 5%-500%. If you're into it for long term it doesn't matter this small losess...

Moving forward Luno might implement travel rule on the exchange, also they keep track of all your tradings and buying and selling and converting into bank. If you're doing it the legit way, converting back to cash later on is easy and all paperwork is in Luno itself that you're able to show as record and auditing.

I myself already lose more than 10k in fees for last few years, but I still used regulated exchanges. Because if you're in for the long run, you're still earning... and you have peace of mind whenever you want to cash out...

Why not buy BTC on Luno, and then follow the rest of your steps? BTC price more stable and gas fee low if compare to ETH or LTC.

If do it fast the BTC price wouldn’t fluctuate much?

This post has been edited by Davidtcf: Apr 18 2022, 12:29 AM

Uniswap is dex on Ethereum network. You cannot use Btc on Ethereum unless you bridge Btc to wrapped Btc (wbtc). That will incur more transactions and charges and swap fees.

I’ve never tried but maybe can see if can bridge Btc directly to Luna though. But if I recall correctly cannot.

Edit: Btw, I use Harmony One for very low fees to bridge to UST (fraction of a few cents). You can bridge Eth/Btc to Harmony, swap to Ust on Defikingdom then bridge to Luna, that should work. But Defikingdoms wBtc and wEth price usually has a bit of premium over centralised exchanges because of low liquidity.

This post has been edited by ljken: Apr 18 2022, 12:39 AM

I’ll stick to BTC then swap to UST on an exchange that can do so such as Kucoin or Binance. Just found out can’t exchange BTC to UST on Dex. Once have UST then transfer to Terra on Anchor Protocol. Their 20% apy will drop starting end of this mth until it is stable.

Found a thread on Reddit: https://www.reddit.com/r/CryptoCurrency/com...utm_name=iossmf
Not sure if got better way.

Planning to put a bit in Anchor. Don’t trust it enough to put in a high amount.

This post has been edited by Davidtcf: Apr 18 2022, 12:58 AM

Likewise, i plan on getting $1k UST to put in Anchor, just i confused on how to transfer to TerraWallet, the reason that holding me is the cost... I don't want just because i wanna get 19.5% APY then i have to stake the first 3-4 months just to pay the fee associated with the buying and transfer.

I'm currently staking all my XRP at Nexo, they have the promotion for 6months locked period for +5% which is very good IMO for holding, but it's XRP so don't expect it's a ride to the moon would be glad if not crash landing. While holding the UST is like holding Dollar in your wallet there, where when needed you can just use it to Buy Crypto.