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How to Buy Crypto with Maybank

How to Buy Crypto with Maybank

Andrew Chen
Fact Checked
Oct 6, 2022

Key Takeaways: Unfortunately, Maybank does not currently support the direct investing of tokens through its banking platform. However, there are secure, alternative ways to buying crypto with the funds in your Maybank account. Simply transfer your funds to a secure cryptocurrency exchange.

We recommend using the Bybit exchange as it offers direct deposits from Maybank. Additionally, it does not require users to KYC to use the platform, meaning you can make trades and deposit/withdraw funds without ever needing to submit identification documents.

Table of Contents

Best Exchange in Malaysia

Platform Highlights

  • Instant Malaysian Ringgit (MYR) deposits via bank transfer or debit/credit card.
  • Buy and sell 700+ cryptos with futures and spot trading.
  • NFT Marketplace, IDO Launchpad & other features.

Can I use a VPN to buy crypto in Malaysia?

Yes, although many cryptocurrency exchanges offer services to Malaysian investors, the Malaysian government still blocks access to these platforms. It is completely legal to purchase tokens in Malaysia, but many popular websites including crypto exchanges cannot be accessed without the use of a VPN.

There are many reliable VPNs you can use in Malaysia, we suggest using the Express VPN extension as it is the most secure VPN globally. Using a VPN is legal and if you don't like Express VPNs services, there is a 30-day money back guarantee. Once you have downloaded the VPN, you can buy cryptocurrencies through the Bybit exchange.

Buying Crypto with Maybank.
Buying Crypto with Maybank.

How to Buy Bitcoin & Crypto with Maybank

The best and easiest way to buy cryptocurrencies like Bitcoin or Ethereum with Maybank is by going through the Bybit exchange. On Bybit you can buy, sell, trade (futures & options), stake and earn on over 1000 tokens and pairs. Bybit accepts multple deposit methods including credit/debit card, bank transfer, Touch n Go and more. Follow the below guide to get started.

  1. Sign Up: Create an account on Bybit and complete the verification process.
  2. Deposit MYR: Click 'Buy Crypto', then 'One Click Buy', pick a method and deposit money from Maybank.
  3. Buy BTC: Find Bitcoin in the search bar, input the amount of MYR you want to invest and click 'Buy BTC'.
How to Buy Bitcoin & Crypto with Maybank.
How to Buy Bitcoin & Crypto with Maybank.

Is it legal to buy cryptocurrencies in Malaysia?

It is legal to buy cryptocurrencies in Malaysia, but there are some restrictions in place. For example, the Malaysian government does not recognise cryptocurrencies as legal tender. This means that you cannot use them to make payments or purchases in Malaysia. However, you can still legally trade and invest in cryptocurrencies.

There are also some taxes that you will need to pay on your profits when you sell cryptocurrencies. Overall, the Malaysian government is relatively open to cryptocurrencies and has plans to regulate them in the future. Additionally, Bybit offers services to Malaysian customers and accepts MYR as a form of payment to purchase tokens with.

Bybit Restricted Countries List.
Bybit Restricted Countries List.

About Maybank

Maybank is one of the largest banks in Malaysia. It was founded in 1960 and has since grown to become the single leading financial institution in the country. It offers a wide range of banking and financial services, including personal and corporate banking, investment banking, Islamic banking, and insurance.

It also has a significant international presence, with operations in Singapore, Indonesia, Vietnam, Philippines, Brunei, Cambodia, Pakistan, India, China, Hong Kong SAR, United Arab Emirates, Kuwait, Bahrain, Qatar, Oman, and Saudi Arabia. Maybank is listed on the Bursa Malaysia stock exchange and has a market capitalisation of over RM 100 billion.

Maybank Home Page.
Maybank Home Page.

Buying Crypto Fees

Bybit is currently running a promotion where users can buy any cryptocurrency on the platform for zero fees. In addition to zero spot trading fees, Bybit does not charge any fees to deposit funds onto the platform from Maybank. Meaning that it's effectively free to invest in cryptocurrencies on Bybit. It is currently the most affordable exchange in Malaysia.

Andrew Chen

Former Bitcoin Maximalist turned multi-chain enjoyer. I hunt down the best yields across AVAX, Solana, Fantom and other networks.

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