8 Best Crypto Exchanges In Malaysia (Oct 2022)

August 29, 2022
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Best Crypto Exchanges Canada

Choosing the best cryptocurrency exchange in Malaysia isn’t easy, given all the options out there and the different features each of them offers. As an avid crypto investor myself, I diligently keep up with the movements of the top exchanges in Malaysia, and have made my selections below based on years of research and personal experience.

Pepperstone is the favorite among knowledgeable Malaysian crypto investors, both for its high level of security and for its ease of use. Pepperstone's fees are also extremely low, so if you’re looking for a secure, cost-effective way to buy and sell crypto in Malaysia, I can’t recommend Pepperstone highly enough.

Here’s something you may not realize: the cryptocurrency exchange you choose matters. Your choice will impact how profitable your trades are, how easily you can buy and sell coins, and whether you can use it in Malaysia at all.

Fortunately, I've been investing in crypto for more than 9 years, and I frequently update my list of the top platforms below. So if you’re looking for a safe and secure crypto exchange that’s easy to use, supports the Malaysian ringgit, and is compatible with the biggest financial institutions in Malaysia, you’ve come to the right place.

Here are my top picks for the best crypto exchanges Malaysia has to offer.

1. Pepperstone

Best Leverage

Trading fees: 0%
Security: 10/10
Customer support: Excellent

Easy to use & ultra-secure.

★★★★★

Rated 4.9/5

Pepperstone is an Australian brokerage and CFD trading platform licensed and regulated by the Australian Securities and Investments Commission (ASIC), the FCA in the UK, and the DFSA in the United Arab Emirates. With direct access to CFDs on indices and cryptocurrencies, ETFs, stocks, and forex, Pepperstone is an all-in-one investing platform used by crypto traders worldwide.

I appreciate Pepperstone for its low trading commissions, tight spreads, and extensive offering of assets to invest in. Experienced investors can trade with 10x leverage (depending on jurisdiction and experience), which is available on most crypto assets.

Pepperstone doesn't charge any deposit or withdrawal fees, and spreads range from just 0.0 to 1.2 pips depending on the underlying crypto asset. The Pepperstone app is rated 4.3/5 on Android and 4.0/5 on iOS, with customer support available 24/7 via telephone or email to answer all your questions.

Features

  • Zero trading commissions
  • Tight spreads (around 0.0 – 1.2 pips)
  • 24/7 customer support via phone and email
  • Up to 10x leverage (depending on jurisdiction) on most crypto assets
  • Access to TradingView's advanced charting tools
  • Supports 20+ crypto CFDs
  • Free deposits and withdrawals

Cost

  • Spread: From 0.0 – 1.2 pips
  • Trading Fees: Low
  • Deposit Fees: Free
  • Withdrawal Fees: Free

Best For

Experienced investors looking for low fees and access to charting tools.

Note: US & Canadian investors cannot use Pepperstone.

2. CoinSmart

Best Overall

Trading fees: 0.2%
Security: 95% cold storage
Signup bonus: $50

$50 bonus ends October 5, 2022.

★★★★★

Rated 4.9/5

CoinSmart offers very low trading fees: just 0.2%. It supports 16 cryptocurrencies, verifies accounts instantly, prides itself on its helpful customer service reps, and has a beautiful, well-rated app.

As a Canadian exchange, CoinSmart is regulated by several Canadian financial authorities, which keeps your money safe and secure. CoinSmart is also a publicly-traded company on Toronto’s NEO stock exchange, which means they’re subject to third-party financial and security audits at least once per year.

I've personally used CoinSmart for over a year, and I’ve had nothing but excellent experiences with them. I've tried out many of the other cryptocurrency exchanges on this list, so I'm confident that CoinSmart is the best platform for most crypto investors.

From now until October 5, 2022, CoinSmart is offering a $50 signup bonus to Yore Oyster readers who fund their account with $200 or more. If you’re looking for a highly-respected exchange that offers the lowest fees, excellent customer service, and a slick mobile app, open a CoinSmart account today.

Features

  • Extremely low trading fees (just 0.20% per trade)
  • 24/7 customer support available via phone, live chat or email
  • Instant account verification
  • Supports 16 cryptocurrencies
  • Immediate deposits and withdrawals
  • User-friendly for both beginners and advanced traders
  • 95% cold storage policy keeps your crypto extra secure

Cost

  • Account Opening: Free
  • Trading Fees: 0.20%

Signup Bonus

$50 bonus when you sign up using this link

Best For

Investors looking to trade stablecoins or altcoins with the industry’s lowest fees.

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Offer ends October 5, 2022.

3. Crypto.com

Crypto.com Exchange

Crypto.com is a major global player that brings a mature, proven exchange to experienced crypto investors. It supports 100+ cryptocurrencies, making it an ideal fit for anyone looking to invest in undiscovered altcoins before the masses.

Crypto.com offers some unique features that no other cryptocurrency exchanges can match. Users can trade options and futures contracts, earn interest by staking their coins, and make trades with up to 10x leverage when they feel particularly confident in a coin.

Crypto.com also has invested an enormous amount of money into its platform security, which makes trading with them extremely safe. The exchange is lightning quick (prices update dozens of times per second), which gives day traders an upper hand over the rest of the market.

Overall, Crypto.com is a solid exchange for investors looking to cash in on brand new altcoins.

Features

  • Average trading fees (0.4%)
  • Supports 100+ cryptocurrencies
  • Allows up to 10x leverage
  • Trade crypto derivatives (futures and options contracts)
  • Earn daily interest by staking your coins
  • Purchase newly-listed coins at up to 50% off
  • Free deposits from all cryptocurrencies

Cost

  • Account Opening: Free
  • Trading Fees: 0.4%

Best For

Investors looking to buy altcoins and other new crypto assets before they go mainstream.

OPEN FREE ACCOUNT
Extremely secure, 10x leverage

4. Luno

Luno is a large crypto exchange and one of the first to come out, back in 2013. It is available in 40 countries around the globe and has a strong presence in Southeast Asia – particularly in countries like Indonesia, Malaysia, South Africa, Singapore and Nigeria. As of 2022, it has over 10 million active users.

Some of Luno’s best features include a crypto staking platform called Luno Earn, which supports staking for Bitcoin, Ethereum, and USDC; and Luno Explore, with lots of learning resources. Luno also has an easily-accessible app for Android and iOS, and a Repeat Buy option to automatically purchase crypto.

Luno supports a total of 8 cryptocurrencies, and the APY for its Luno Earn staking platform can go as high as 7.6%, paid monthly. Luno keeps assets secure with a stringent Cold Storage policy and Multi-Signature protocols.

Features

  • Supports 8 cryptocurrencies
  • Luno Savings, crypto staking platform
  • 95% Cold Storage policy
  • Secured with Multi-Signature protocols
  • Send & Receive crypto for free within Luno
  • Luno Explore, learning resources for beginners
  • Set up price alerts and market notifications
  • Available on Android and iOS
  • Repeat Buy, automatic recurrent purchases

Cost

  • Trading Fees: 1.10%
  • Maker’s Fees: Free
  • Taker’s Fees: 0.41%
  • Buy Fees Instant Sell/Buy:1.10%
  • Transfers within Luno Ecosystem: Free
  • Deposit Fees (Crypto): Free
  • Deposit Fees (Transfer Bank Instant): Free
  • Withdrawal Fee (Crypto): Depends on the crypto (0.004 BTC for Bitcoin)
  • Withdrawal Fee (Fiat): Rp 15,000

Best For

Investors in Southeastern Asia looking for a well-established exchange.

5. Tokenize

Tokenize is a cryptocurrency exchange headquartered in Kuala Lumpur, Malaysia. It has strong ties in that region, providing seamless integration with banks and financial institutions across all major countries in Southeast Asia, including Singapore, Malaysia, Thailand, and Vietnam. 

Tokenize was one of the first exchanges to be approved by the Securities Commission Malaysia (SC) and is among the top-three largest exchanges by monthly volume in that region. Tokenize supports fiat-to-crypto, crypto-to-crypto, and ICO investments and trades.

Tokenize supports 40 cryptocurrencies, including BTC, ETH, and Polkadot (DOT), and hundreds of crypto pairs like BCH/BTC, DAI/BTC and ENJ/BTC. For high net-worth individuals and institutions, there’s an Over-the-Counter (OTC) service. Discounts on trading fees apply for investors holding Tokenize tokens, TKX.

Features

  • Supports 40 cryptocurrencies
  • Easy-to-use platform
  • Multi-Signature security protocol
  • Fiat-to-crypto & crypto-to-crypto trades
  • Low fees when holding TKX tokens

Cost

  • Trading Fees: From 1.0% to 0.1% (based on TKX holdings)
  • Deposit Fees (Bank transfer): Free
  • Deposit Fees (Grabpay): 1.5%
  • Deposit Fees (Credit & Debit cards): 2.9%
  • Deposit Fees (StraitX): 0.3% (charged by Xfers)
  • Withdrawal Fees (Crypto): Depends on the crypto (0.002 BTC for Bitcoin)
  • Withdrawal Fees (StraitsX): 0.3% (charged by Xfers)
  • Withdrawal Fees (Bank Transfer): Free

Signup Bonus

20% bonus when you sign up using this link.

Best For

Investors in the Southeast Asia region looking for high compatibility between their bank and their exchange.

6. Coinhako

Coinhako is a cryptocurrency exchange based in Singapore and with a strong presence in the Asia-Pacific region. Launched in 2014, it surpassed 150,000 active traders by the end of 2020 and reported their largest spike of registered users in 2021; which suggests it could become a major crypto player in Asia.

Coinhako supports 3 fiat currencies, USD, SGD and VND, and 66 of the largest cryptocurrencies, including BTC, ETH, LTC and NEO. It offers preferential OTC trading services for high net-worth individuals and one of its main selling points is its multi-chain-compatible Super Wallet, which allows easy access to crypto from multiple blockchains.

Users can deposit fiat directly to their Coinhako Super Wallet through bank transfers, Visa, or Mastercard. Coinhako users have access to real-time data on all supported currencies and can join a generous points-based Rewards Program; points can be traded for bundles of crypto.

Features

  • Supports 66 cryptocurrencies
  • Multi-chain compatibility
  • User Loyalty Program
  • Crypto Wallet Services
  • Real-time price data
  • OTC services for institutions
  • Rewards Program; Crypto Bundles

Cost

  • Spread: 0.3%
  • Maker’s Fees: 1%
  • Taker’s Fees: 1%
  • Deposit Fees (Crypto): Free
  • Withdrawal Fee (Crypto): Depends on the crypto (0.002 BTC for Bitcoin)
  • Deposit Fees (Fiat): Free
  • Withdrawal Fee (Fiat): $2

Signup Bonus

20% bonus when you sign up using this link.

Best For

Investors in the Asia-Pacific region looking for a blockchain-spanning crypto wallet and an attractive Rewards Program.

7. KuCoin

KuCoin KuCoin is a cryptocurrency exchange that began operations in Hong Kong in 2017 and bills itself as “The People’s Exchange.” Its objective was to offer a simple and secure platform for crypto investors, and it has been a success: in just four years it has attracted over 8 million users.

Besides buying and selling crypto, KuCoin supports four market order types as well as margins, futures, and P2P trading. KuCoin Trading Bots are one of its biggest features, allowing users to invest on autopilot using dollar-cost averaging.

New KuCoin users will receive a $10 sign-up bonus, and if you’re willing to freeze your crypto for a short period you can earn up to 10% in interest. KuCoin takes security seriously, with features like multi-factor authentication, encryption, and an additional trading password.

Features

  • Users can also get trading fee discounts based on their KuCoin Token (KCS) balance.
  • Margin Trading
  • Crypto Staking, earn up to 10% interests
  • KuCoin Trading Bots, invest on autopilot using dollar–cost averaging
  • Supports 600+ cryptocurrencies
  • Supports market, limit, stop-limit, and stop-market order types

Cost

  • Trading Fees: From 0.0125% to 0.1%
  • Makers Fees: From 0.0125% to 0.1%
  • Takers Fees: From 0.0125% to 0.1%
  • Deposit Fees: Free
  • Withdrawal Fees: Depends on the coin (For BTC: 0.0005 BTC)

Signup Bonus

$10 bonus when you sign up using this link.

Best For

Investors looking for a very secure platform, different market tools, and trading bots.

8. Huobi Global

Huobi Global is the sixth largest crypto exchange, based in the island nation Seychelles but with strong ties in the Asian market, with offices in Hong Kong, Singapore, South Korea and Japan. It also has a strong presence in Europe in countries like Italy and Portugal.

Huobi offers competitively low fees starting at 0.2%. Additionally, it offers plenty of tools veteran investors will appreciate: interactive charts, limit and stop orders, and margins and futures trading. Huobi supports over 400 cryptocurrencies.

Huobi new users will receive a $150 bonus in Point cards, and will get the chance to start earning Huobi Tokens (HT) for additional discounts – the more Huobi Tokens you hold the higher the tier and the lower the fees. In terms of security, it offers 2FA authentication and the option to freeze your account.

Features

  • 24/7 customer support available via live chat or email
  • Instant account verification
  • Supports over 400 cryptocurrencies
  • 98% cold storage policy keeps your crypto extra secure
  • Earn crypto rewards through staking
  • Huobi Tokens, earn discounts and rebates just by holding the token

Cost

  • Trading Fees: From 0.20% to 0.07% based on HT tier
  • Maker’s Fees: From 0.0362% to 0.0097% based on HT tier
  • Taker’s Fees: From 0.0462% to 0.0193% based on HT tier

Signup Bonus

$150 in Huobi Point Cards bonus when you sign up using this link.

Best For

Veteran investors looking for the very best investing tools and access to some of the newest cryptocurrencies.

Why you should trust me

  • Experienced
    I bought my first cryptocurrency (Bitcoin) in 2013, bought Ethereum in 2017, and have held active accounts with at least 5 exchanges since 2018.
  • Unbiased
    All of my selections are supported by multiple data points, including crypto thought leaders, security experts, and TrustPilot reviews.
  • Deep Research
    My team and I spent more than 20 hours researching exchanges before choosing our top picks, and we update them almost daily as the industry continues to change.
My top pick →

What To Look For In A Great Malaysian Crypto Exchange

I consider many different factors in my search for the best Malaysian crypto exchange. Here are just a few of the more prominent ones:

  • Supported coins: The best Malaysian crypto exchanges support a wide variety of coins—at least 20 or 30—including all the major coins like Bitcoin, Ethereum, and Dogecoin. Platforms that add new coins regularly tend to be more customer-focused overall, making this a strong indicator of a forward-thinking exchange.
  • User interface: Choosing a platform with an easy-to-use trading interface is important, especially for beginners. If you're a seasoned crypto investor, you'll also want to look out for exchanges that offer more advanced features like advanced order types and transaction exports for tax purposes.
  • Fees: All crypto exchanges charge fees (both in the form of trading commissions and bid-ask spreads), and they can vary by a wide margin. I've specifically chosen low-fee platforms here to help you maximize your profits.
  • Regulation: It's much safer to trade with a well-regulated exchange than an unregulated one, especially when markets aren't moving in your favor. Depositors' insurance is another safeguard offered by some exchanges, which keeps your assets safe even if the platform itself faces liquidity issues.
  • Deposit & withdrawal options: The exchange you choose should offer a variety of payment methods (bank transfers, debit/credit cards, PayPal, etc.) to ensure you can easily transfer funds in and out of your account. The more options you have, the better.
  • Security: Look for an exchange that strictly enforces multiple layers of security, such as two-factor authentication and at least 95% cold storage. Additional security measures like daily offsite backups, third-party security audits, and email confirmations on transactions make your account even more secure.
  • Customer support: The best crypto exchanges pride themselves on having well-trained, responsive support teams who can help users through any problems that come up. I pay particular attention to the channels each exchange offers support through, response times, the thoroughness and helpfulness of their responses, and user feedback on the customer support they've received.

In Summary

Choosing the best cryptocurrency exchange in Malaysia isn’t easy, given all the options out there and the different features each of them offers. As an avid crypto investor myself, I diligently keep up with the movements of the top exchanges in Malaysia, and have made my selections below based on years of research and personal experience.

Pepperstone is the favorite among knowledgeable Malaysian crypto investors, both for its high level of security and for its ease of use. Pepperstone's fees are also extremely low, so if you’re looking for a secure, cost-effective way to buy and sell crypto in Malaysia, I can’t recommend Pepperstone highly enough.

Best Crypto Exchange Malaysia FAQs

Which Malaysian crypto exchange has the lowest fees?

The Malaysian crypto exchange with the lowest fees is generally Pepperstone, depending on the specific crypto assets you're trading. In most cases, Pepperstone will be the cheapest option.

What’s the best crypto wallet in Malaysia?

The best crypto wallet is the Ledger Nano S hardware wallet. It is the best way to keep your private keys secure and, more importantly, offline. All Ledger wallets are certified by the French National Agency of Security and are among the safest and most cost-efficient wallets out there, and they support 1,200+ crypto assets, coins, and tokens.

What’s the best altcoin exchange in Malaysia?

The best altcoin exchange in Malaysia is one of Pepperstone or CoinSmart. Both of them support a wide variety of cryptocurrencies and regularly add more of the altcoins Malaysian investors are looking for.

What is the safest crypto wallet in Malaysia?

The Ledger Nano S is the safest wallet available today. All Ledger wallets far exceed industry standards for security: they use tamper-resistant Certified Secure Element (SE) with Common Criteria (CC) EAL5+ chips on their nanodevices, which means your private key stays on the secure chip. It also has a proprietary operating system called Blockchain Open Ledger Operating System (BOLOS) that's successfully undergone audits from the French National Agency of Security, many other government agencies, as well as regular audits from independent security organizations. 

What’s the safest crypto exchange in Malaysia?

The safest cryptocurrency exchange in Malaysia is Pepperstone. They strictly enforce bank-level security protocols, run on servers in secure locations around the world, and undergo frequent financial and security audits to ensure all of their users’ assets are completely safe. They also have some of the lowest fees of any platform in Malaysia and are known for being a reputable, trustworthy exchange.

How Can I Sell Bitcoin In Malaysia?

There are several different ways to sell Bitcoin in Malaysia, though the easiest is to sell it directly from the crypto wallet or exchange that you’re holding it on. Remember to be cautious whenever you transfer coins between wallets, since blockchain transactions are irreversible.

What crypto exchange is best for beginners in Malaysia?

The best crypto exchange for beginners in Malaysia is generally Pepperstone. They're ideal for beginners because they verify accounts instantly, have easy-to-use trading platforms, and provide great customer support in case you need any help along the way.

Is cryptocurrency legal in Malaysia?

Yes, cryptocurrency is legal in Malaysia, and you can buy, sell and use crypto without breaking the law. However, cryptocurrency is not currently considered legal tender in Malaysia, which means the Malaysian government and Malaysian businesses are not legally obligated to accept it as payment for goods and services.

What’s the best crypto app in Malaysia?

The best crypto app in Malaysia is Pepperstone. Its mobile app is very easy to use, has a nice, modern interface, and has very good ratings and reviews on both the Apple App Store and the Google Play Store. If you live in a country like Maldives or Malawi instead, you’ll have to double-check to ensure you can get the Pepperstone app in your local app store.

What is the best crypto exchange for day trading in Malaysia?

The best crypto exchange for day trading in Malaysia is Pepperstone, since it has low trading fees, tight spreads, and its prices update multiple times per second, giving day traders an upper hand over the rest of the market.

Can the Malaysian government track cryptocurrency?

Yes, Malaysian tax authorities can track cryptocurrency trades and transactions—and not only when your digital assets interact with real-world institutions like banks. Some exchanges in Malaysia are required by law to provide the government with information about their users’ transactions, including purchase price, purchase date, sale value, and all associated KYC data. If your tax returns don’t match the data the government receives from these exchanges, you may receive a fine.

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