Buying Cryptocurrency in Malaysia
Cryptocurrency is commonly known as digital assets or virtual money. It is popularized by the pioneer crypto coin which is Bitcoin. The creation of Bitcoin has led to the development and creation of other coins.Since the time when Bitcoin has insanely incurred a high price, and most of the Malaysians cannot afford it already. It is great that alternative coins known as altcoins were developed to serve as an alternative option.Cryptocurrency is not yet fully regulated around the globe. This means you can still easily purchase these coins as long as you have access to the internet and you have the money to buy them.
How to Buy Alt Coins in Malaysia?
If you are new to
cryptocurrency, there are around 2,000 different altcoins listed in Coinmarketcap. But remember that not all those coins are significant. Most of them are called shitcoins since they have no significant value at all.Another note to consider is that the cryptocurrency market poses high volatility and risk. Everyone is at risk of losing all their investment if the market does not favor their token or coin.The rule of the thumb is don’t invest what you can’t afford to lose. Aside from this, it is imperative to do thorough research online before buying any of these coins. There are already
cryptocurrency exchange platforms in Malaysia like
Bluebelt Exchange that have proven good reputation and consistency.
So how to start investing in Alt Coins?
Acquire a Cryptocurrency Wallet : You can choose from different kinds of wallets such as hardware wallet, software wallet, or online wallet. Online wallets pose the highest risk out of the options since it literally means you are storing your coins on other platforms. However, its the easiest and most feasible way of storing your coins. In fact, most people are opti
ng for this option.
Choose your Crypto to Trade: You can buy Bitcoin or other altcoins depending on the current budget you have. Just remember that most of these coins cannot be bought with cash. You can earn them via
other means.
Check if the Coins are Tradable in an Exchange: Not all
cryptocurrency exchange platform contains all the coins in the market. You need to search for an exchange where you can trade your coin. It is recommended to look for more than one exchange in this case.
In a Nutshell… The buy and sell of cryptocurrency in Malaysia are starting to make its way in the market. This new technology in the financial industry will soon make a positive impact not only on the global market scale, but in the Malaysian economy as well.