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.
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.
- Sign Up: Create an account on Bybit and complete the verification process.
- Deposit MYR: Click 'Buy Crypto', then 'One Click Buy', pick a method and deposit money from Maybank.
- Buy BTC: Find Bitcoin in the search bar, input the amount of MYR you want to invest and click 'Buy BTC'.
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.
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.
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.
Buying crypto with Maybank through the Bybit exchange is easy and affordable. The process of setting up and using an account takes only a few minutes and you can start trading immediately. Additionally, Bybit is one of the most secure and trusted exchanges in Malaysia, meaning that your funds are safe. So if you're looking to buy cryptocurrencies in Malaysia, Bybit is a great choice.