- Buy crypto at true cost with the lowest fees
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You can use a cryptocurrency exchange to buy, sell and trade cryptocurrencies such as Bitcoin (BTC) and Ether (ETH). We’ve compared some popular Bitcoin exchanges by different categories to make it easier to find the best for you.
It’s important to research a wide range of platforms and compare the pros and cons of each option. The best Bitcoin exchange for you depends on what you’re looking for.
Consider the following factors when comparing crypto exchanges.
For the sake of our example, let’s assume that you have RM1,000 that you want to use to buy Bitcoin.
You’ll need to deposit funds on your cryptocurrency exchange, or otherwise make a transfer. Bitcoin exchanges accept all sorts of deposit methods, including the following:
The payment types accepted will vary between exchanges though, so it’s worth checking to ensure your preferred payment method is supported before signing up.
The term “exchange” can be used to refer to a variety of cryptocurrency brokers, trading platforms and other services. Different types of exchange are often more geared towards beginners or experienced users.
Cryptocurrency is held in digital wallets. Some exchanges will give you your own wallet, which lets you hold cryptocurrency in your exchange account and then transfer it anywhere as desired, while others will require you to have your own wallet at the time of purchase.
However, using an exchange for long-term storage is not recommended. As the exchange controls the private key to your wallet, you don’t have total control of your funds. And with exchanges regularly (and sometimes successfully) targeted by hackers, storing crypto on an exchange long-term is very risky.
Not all crypto exchanges are created equal, and not all crypto buyers and sellers have the same trading needs. The best exchange for one person might not necessarily be the right choice for someone else, so it’s essential that you do your own research.
Check out our reviews on a range of leading cryptocurrency exchanges in Australia and around the world. Compare the features, fees and pros and cons of each Bitcoin exchange and consider how they align with your trading requirements.
No. The list of currencies available varies widely from one exchange to the next. Some Bitcoin exchanges will only offer Bitcoin or a select few currencies while others support hundreds, but there’s no guarantee that all the cryptos you want to buy and sell will be available on any one platform.
While regulators are gradually implementing laws and guidelines to help protect consumers against fraud, there are still plenty of dodgy exchange operators out there. Falling victim to theft is a major concern for any crypto buyer.
Read our guide to cryptocurrency scams for a checklist to help you avoid falling victim to fake or disreputable exchanges.
You may want to consider using the services of an over-the-counter (OTC) broker in order to avoid slippage. Check out our guide to OTC services for more details.
You can view 24-hour trading volume for crypto exchanges on sites like CoinMarketCap, but be aware that the information is not always correct, and many unscrupulous exchanges try to cheat the rankings with fake trading volume.
Exchanges in Malaysia and several other countries are subject to Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regulations. In order to comply with these regulations, exchange operators must gather certain details about their customers – which is why you may be asked to provide proof of ID. This process is typically referred to as Know Your Customer or KYC.
Disclosure: At the time of writing the author holds ADA, ICX, IOTA and XLM.
A complete review of the AscendEX exchange, covering trading and DeFi features, associated fees, regulation and security. Is AscendEX right for you?
Trade cryptocurrency, derivatives and speculate on stocks with this fully-featured exchange created “by traders, for traders”.
Learn more about the Crypto.com platform in our complete review.
Read about Bitsane’s features, security and fees to see if it’s the right cryptocurrency exchange for you.
If you’re looking for a secure, decentralised exchange where you can trade a huge range of Ethereum ERC20 tokens, check out our review of IDEX.
LocalMonero is a global peer-to-peer marketplace where users can buy and sell Monero (XMR) using their local currency. Find out how the platform works in this detailed guide.
If you want to buy or sell digital currencies on the Liquid crypto exchange, check out our review of its fees, features and payment methods as well as its pros and cons.
Cubits aims to be more than just a bitcoin broker. Think of it as a high-security wallet that enables seamless bitcoin to fiat currency conversions.
CoinCorner aims to be the world’s easiest and most straightforward way to buy, sell and transfer bitcoin. See how it works and whether it’s succeeded.
Learn all about Coinhako and how you can use it to buy bitcoin, Ethereum and Bitcoin Cash in Malaysia.
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