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A decentralized currency can lead to opportunities because it’s decentralized, as the markets of cryptocurrencies reached the long-awaited $3 trillion mark in November 2021. It is expected that market capitalization will reach $2 trillion by 2022.

In addition, it’s wise to think about cryptocurrencies like Ethereum, Litecoin, and so on, as they’re useful for various applications, such as data storage, gaming, and finance.

Is investing in cryptocurrencies in 2022 a wise move? This how to trade Bitcoin guide will examine the most important aspects of trading Bitcoin, building a crypto investment portfolio, and exploring the future holds for the asset that has outperformed the stock market over the last decade.

Contents

How to Trade Bitcoin in Malaysia – Step by Step Guide

You will need to follow these steps in order to start trading BTC on eToro. In order to complete the four main trading steps on eToro, you will only need to spend a few minutes. Initially, we will look at how to trade bitcoin on eToro and how to do it correctly.

Step 1: Open an Account with eToro

eToro requires only a simple click on the “Join Today” link on the homepage.  You’ll see a short form asking for personal information details and instructing you to set up your login details. Your username and password can be remembered by using your Google or Facebook account when you sign up.

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67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Step 2: Upload ID

Secondly, you will need to upload proof of your identity through a copy of your identity document. Finally, to trade bitcoin on eToro, you need to go through a KYC (Know Your Customer) process. This process comprises two steps. On the one hand, you need to attach your passport, driver’s license or visa to verify your identity. Then, in the next step, after uploading a utility bill or bank statement, you will be asked to verify that your address is correct.

The process for eToro to respond to your documents does not take long, as most accounts are verified within hours of receipt.

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Step 3: Deposit Funds

You must then deposit it into your account. It is a requirement to deposit 200 GBP. There are several options for depositing. An eToro account can be funded either by bank transfer or credit/debit card. PayPal and Skrill are also accepted as e-wallets. Additional currencies can be added to your account, apart from USD, GBP, and EUR. When you withdraw, there are no fees or charges associated with it, and the money appears in your account almost immediately.

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Step 4: Trade Bitcoin

To trade Bitcoins, you need to have some Bitcoins. Once you have entered the amount in the search bar, you can click the order button to purchase Bitcoins or Bitcoin Cash.

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67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

What is Bitcoin

learn how to trade bitcoin for beginnersBitcoin (BTC) is the first global cryptocurrency considered highly speculative. Before investing in Bitcoin, it is necessary to understand how it operates. In 2009, an anonymous developer called Satoshi Nakamoto launched the digital currency, leading to its popularity and scalability. Besides conceiving the technology that has enabled Bitcoin to reach its popularity and scalability today, Satoshi Nakamoto is also credited with creating Bitcoin itself. The cryptocurrency has no owner or central bank. In nature, Bitcoin is a decentralized digital currency. As a result, it cannot be manipulated.

Bitcoin cannot be manipulated or printed, unlike traditional currencies such as the dollar. Bitcoins are generated automatically every 10 minutes. The value will increase as more Bitcoins are generated.

Bitcoins can be transferred from one account to another. Therefore, many people continue to buy bitcoin as an investment resource. Furthermore, the value of bitcoin will increase in the future, which will make it possible for them to cash in at a higher price in the future.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Other Types of Bitcoin Assets

As assets, cryptocurrencies are generally stored in digital wallets, commonly a blockchain wallet, which allows users to manage and trade their coins.

Bitcoin ETFs

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Indirectly intervening in the Bitcoin market is possible through bitcoin exchange-traded funds (ETFs). However, investors who hold Bitcoin ETFs’ ownership and trading of Bitcoins is prohibited.

The New York Stock Exchange presented an exchange-traded Bitcoin futures fund in October.  Bitcoin futures contracts typically back ETFs that track Bitcoin futures instead of the real thing. Contracts back a regulated financial product, exchange-traded funds. Their confluence was inevitable as both ETFs and Bitcoins became more popular. Through Bitcoin ETFs, investors can invest directly in the bitcoin market without buying bitcoins directly.

Bitcoin Funds

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Grayscale trust is the largest bitcoin fund in the world, with assets totaling $37 billion. No other bitcoin fund comes close to it. Its nearest rival, the ProShares Bitcoin Strategy (BITO) exchange-traded fund, began trading in October and has racked up $1.3 billion in assets.

Bitcoin CFDs

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Similarly, CFDs and alternative investments have begun to take an interest in cryptocurrencies.

Because of the large media coverage of Bitcoin’s value, its value surged to over $19,000 in December 2017. When prices are churning rapidly, trading is always a priority.

Existing exchanges such as CBOE and CME created Bitcoin futures contracts to validate the new asset class.

Most people learn about cryptocurrencies by purchasing them and investing their money in them. This method, however, can also be problematic. The processing time of cryptocurrency transactions is longer than that of forex trading, which is instantaneous. A number of unregulated exchanges have also attacked Bitcoin and Ethereum wallets.

Bitcoin Futures

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It is similar to buying or selling equity securities to invest in ETFs. However, ETFs allow trading and selling during market trading hours except for mutual funds. Essentially, bitcoin ETFs allow investors to agree to buy or sell bitcoin at a specified price at a future date. Often, commodities are traded for this purpose.

Advantages of Trading Bitcoin

1. Lightning-Fast Transactions:

Transactions can be completed in days, or even weeks, in the case of fiat currencies. This is not the case with cryptocurrencies. Your money will be sent instantly no matter what time you are in. In other words, there is no waiting time and no hassle. For example, you can use Bitcoin Loophole to send bitcoins to a friend in another country. The recipient must type in the bitcoin address, and the transfer will be made without limitations unless you decide to cancel the transaction.

2. Lower Transaction Fees:

Do you think you can pay a little more than $35 for withdrawing money from your bank account? In the case of withdrawals over $1,000, you could be charged that amount. On the other hand, Bitcoin transactions do not carry fees other than a small transaction fee, i.e., processing the transaction. As a result, you need not fear it.

3. Privacy:

The anonymity of Bitcoin transactions makes them an ideal choice for people who appreciate privacy. Owners of BTC wallets have one or more public keys which function as their bitcoin addresses, and these keys are the only information required to make a transaction. Unlike the credit card system, Bitcoin does not require your name, address, or other information. All that is needed is the recipient’s address in order to accept payment.

4. Decentralization:

Thanks to its decentralized nature, governments and financial organizations cannot interfere with bitcoin transactions. Consequently, it provides a great alternative for those seeking a little more privacy or who are against the system. When participants’ information is hacked from conventional payment systems, e.g., PayPal or credit cards, hackers gain access to their complete financial records and fraudulently conduct transactions. Because of its unique blockchain technology, BTC can never have these problems.

Risks of Bitcoin Trading

1. Young Technology

The development of cryptocurrency is in an early stage. Bitcoin has been around for roughly ten years, but it has not yet reached its full potential. Since there have been so many changes in the market in the past few years, it is difficult to predict its future. The value of Bitcoin may devalue in the future. Approaching this new investment opportunity with caution is the best approach. Secure your funds by taking steps to prepare for the market’s future.

2. Currency Or Investment Opportunity?

Cryptocurrency could prove to be a very useful means of online exchange. Bitcoins are, however, traded as financial investments similar to stocks. Crypto-currencies may make good retirement investments, according to some. However, if there are no regulations, no physical collateral, and constantly shifting markets, investors risk losing money. Therefore, it’s best to use caution when it comes to bitcoin despite its potential benefits. Investing in small amounts is a better option

3. Financial Loss

Bitcoin is often referred to as a Ponzi scheme, as an example of people at the top profiting from the ignorance of others. This is because when people buy bitcoins, a bubble arises.

When the bubble bursts, bitcoin loses its value; people hold on to their cryptocurrency to sell it, even though they cannot do so when the bubble bursts. This is a huge financial loss because the investment has not produced high returns.

Can You Trade Bitcoin in Malaysia?

how to trade bitcoin without feesThe most accessible cryptocurrency at the moment is Bitcoin. You can buy Bitcoin through various platforms today, including exchanges, brokerages, cryptocurrency wallets, and even e-wallets such as PayPal.

It is interesting for younger investors because of its simplicity, convenience of mobile devices, and the ability to copy other traders. Users feel more comfortable buying and selling more complex assets simpler, such as Bitcoin. With eToro, there are no commission charges, so you get to keep more of your hard-earned money.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Bitcoin Trading Strategies

1. Do Your Research

Before making any kind of investment, make sure you do your homework.

You must search for reliable sources of information and learn as much as you can about the topic. It is possible to find many review sites that provide good analyses online, and it is also possible to find valuable information from experts online or through social media.

2. Beware of Fraudulent Schemes

Many scammers and individuals are on the prowl for victims in the cryptocurrency market because it remains largely unregulated. Therefore, ensure that the platform you are dealing with is secure before committing any funds. Reviews can provide you with an additional benefit in this regard.

As well as that, we advise you only to transact with regulated brokers. It is well known that services like eToro have a great track record of success, and they are regulated in different countries across the globe. Therefore, using services like these is much safer than using other ways.

3. Only Invest Funds You Can Lose

The cryptocurrency Bitcoin is no exception – it has a high level of risk. Therefore, investing money that you cannot afford to lose, as a precaution, is not recommended.

There is no need to lie to yourself or take out a loan to invest in Bitcoin. Instead, it is better to prepare yourself for the possibility of losing your capital when you are investing and only to invest when you have enough money.

Bitcoin can be invested and traded with as little as you have – even a complete novice. During this process, you will improve your trading skills, as well as your financial status. You can expect to start earning big bucks before you know it.

4. Track Your Results

No matter what you do, the most important thing is to know how your portfolio is performing. For traders, this is of particular importance. It is possible that the market outlook could affect your position.

Due to its volatile nature, it is difficult to keep track of Bitcoin’s price due to its volatility. There are, however, several apps available today that can help you monitor the performance of your portfolio. Furthermore, checking your account regularly will also reduce the risk of suffering a big loss in the future.

5. Resist FOMO

You might find it difficult to handle the pressure when you’re new to crypto trading. Take care not to copy the actions of others when investing or assuming positions. This is called FOMO.

You should make sure that you do your research and take your time. Unfortunately, FOMO can lead to people missing out on earning opportunities when participating in transactions. It is a small risk, but there is still a risk. However, regardless of how strong the temptation might be, it is important to invest when you are prepared and confident enough.

Best Platforms to Trade Bitcoin in Malaysia

1. eToro- Overall Best Cryptocurrency Trading Platform In Malaysia

how to trade with bitcoineToro is a popular choice among cryptocurrency investors for trading Bitcoin. With this online broker, it is very easy to trade with the main digital currencies and offers a wide range of assets and markets. Ave, Kyber Network, and Augur are among Defi coins and Bitcoin, Ethereum, and Ripple.

Over 20 million investors have invested in eToro thanks to various factors. First, the eToro platform is extraordinarily convenient and easy to use, so even if it’s your first time making a Bitcoin purchase online, eToro can handle it. Regardless of this, eToro offers you zero commissions so that you can trade Bitcoin.  Aside from this, eToro offers zero commissions, so you can trade Bitcoin without paying any fees.

eToro is one of the hardest bitcoin brokers to compete with in terms of fees. Commissions are not charged by eToro. The online broker allows you to purchase Bitcoins without commission. Fees for foreign exchange are only 0.5%   after depositing with the broker.

PayPal, Neteller, debit cards, and credit cards are popular withdrawal and deposit methods available through eToro.

eToro is subject to many regulations. Several regulatory agencies, such as the FCA of the U.K., CySEC of Cyprus, and ASIC of Australia, have licensed the brokerage firm. Additionally, the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC) have already regulated it in the United States. 

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eToro fees

Fee Amount
Stock trading fee Free
Forex trading fee Spread, 2.1 pips for GBP/USD
Crypto trading fee Spread, 0.75% for Bitcoin
Inactivity fee $10 a month after one year
Withdrawal fee $5

Pros:

  • Bank transfers and debit/credit cards are accepted
  • Zero commission on bitcoin purchases
  • Just $25 as a deposit
  • K. and U.S. fully regulated
  • More than 2,400 global shares and 250 ETFs
  • CFD markets are also available
  • Copy-trading social network
  • Licensed by the FCA, ASIC, and CySEC
  • FINRA and SEC approved

Cons:

  • A fee of $5 for withdrawals
  • It’s a U.S. dollar-based platform

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2.Huobi – Excellent Trading Platform for Bitcoin in the Malaysia

Huobi is a Singapore-based cryptocurrency exchange and online financial services provider. The Huobi Exchange offers resources such as Bitcoin, Ethereum, and XRP as well as an opportunity to participate in initial coin offerings (ICOs) before they become mainstream. The exchange was established in Beijing, China. In 2017, the government expelled cryptocurrency exchanges from the market. Since then, its presence has rapidly increased.

It moved to Singapore because of a more favorable regulatory climate. In fact, Huobi is the biggest bitcoin exchange today, supporting over 355 types of cryptocurrency. Over 5 million users are active on the platform, which is represented by 130 countries. On the list of top cryptocurrency exchanges, Huobi ranks third based on its daily trading volume. Another top cryptocurrency exchange is Coinbase.

Users love Huobi's convenience. As a result, it meets the needs of both new and experienced users alike.

Your account can be set up fully in a few minutes. It should not be difficult for you to do this, so don't hesitate to do it.

Huobi fees:

Fee Amount
Crypto trading fee Commission, starting from 0.2%
Inactivity fee Free
Withdrawal fee 0.2%

Pros:

  • Highly configurable dashboard with smart and intuitive features
  • Trade more than 230 assets
  • Supports multiple platforms or exchanges at the same time
  • Leverage and margin trading
  • Provide high levels of security
  • Ensure client funds are protected
  • Multilingual customer service
  • An advanced mobile app

Cons:

  • Fiat currency deposits and withdrawals are not available
  • Limited withdrawals
  • Limited margin leverage

Your capital is at risk

3. Crypto.com- Over 40 Cryptocurrencies And Stablecoins In Malaysia

how to buy and trade bitcoinA forerunner in cryptocurrencies, Crypto.com is an exchange platform dating back to the early days of cryptocurrencies. This platform was launched in 2016. But, more than being curious, the founders of Crypto.com expect to convert cryptocurrencies into the future's default investment class.

Investors of all expertise levels can use the exchange to satisfy their crypto trading requirements. Crypto futures and order forms supporting 150 currencies can be negotiated using this platform. Purchasing and storing assets such as SafeMoon can be the right selection for you at Crypto.com. You will incur a 0.40% commission if you trade, and the commission drops when the transaction volume is high, or the CRO token is maintained in very large volumes.

Crypto.com is more like a cryptocurrency bank than an exchange, as it provides a range of payment methods. It is quite easy to purchase cryptocurrencies on the exchange, exchange them, and trade and invest in them. Crypto.com's app will enable users to instantly start trading cryptocurrencies with all they need to get started.

Along with supporting the holding of cryptocurrencies in the cryptocurrency wallet, the users will be free to use them at any time for purchases within the crypto app. And when a user purchases a Visa card from Crypto.com, they can handle the card details right from within the app itself. It will also be possible to exchange cryptocurrencies within the platform at no cost.

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Crypto.com fees

Fee Amount
Crypto trading fee 0.4% per trade
Inactivity fee Free
Withdrawal fee Free

Pros:

  • Various cryptocurrencies are available
  • It has affordable and transparent rates
  • Easy-to-use interface
  • Users can send crypto to each other with no fees
  • Separated NFT platform

Cons:

  • Higher costs unless you hold CRO tokens
  • Finding trading fee discounts can be difficult

Your capital is at risk.

4. Binance - The Largest Cryptocurrency Exchange In Malaysia

how to trade ethereum for bitcoinBinance is the largest cryptocurrency exchange in daily trading volume among all cryptocurrency exchanges. The daily trading volume of Binance is more than $50 billion, making it one of the most popular exchanges in the world. In addition, Binance offers a wide variety of features to its users.

With the exchange, it is possible to access many different cryptocurrencies, such as Bitcoin and Ether, and have access to high liquidity, as most assets feature a high level of turnover.

On its platform, Binance proposes trading fees starting at around 0.1 percent and has easy to comply with KYC procedures. Furthermore, Binance, in addition to offering cryptocurrencies and leveraged trading, allows users to buy more cryptocurrencies than they own.

In countries where bank transfers are relatively inexpensive, you may not need to wait long to receive funds, but in countries where bank transfers are expensive, you may have to wait a few days. Using your debit or credit card is possible in such a situation if you wish to receive your winnings quickly.

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Binance fees

Fee Amount
CFD trading fee Variable spread
Forex trading fee Variable spread
Crypto trading fee Commission starting from 0.1%
Inactivity fee Free
Withdrawal fee 0.80 USD (Bank Transfer)

Pros:

  • There are currently more than 100 cryptos available on the market
  • The fees for trading are low compared to other exchanges
  • Provides support for debit/credit cards and bank transfers
  • There is a lot of buzz surrounding the cryptocurrency scene

Cons:

  • Beginners are not recommended to make investments
  • At present, debit and credit cards have high fees associated with them

Your capital is at risk.

5. BitBuy - One Alternative To Trade Bitcoin In Malaysia

how to trade bitcoin on bybitThe Toronto-based BitBuy cryptocurrency exchange allows users to trade various cryptocurrencies with ease. It launched in 2013 and quickly became one of Canada's most popular exchanges. BitBuy is a secure cryptocurrency exchange because it is a regulated and transparent platform based in the country. For experienced traders, this exchange offers a range of services, including numerous features. In addition, its competitive trading fees and outstanding customer service attract many traders.

On Bitbuy, you can trade crypto with an interface that is easy to use and clean for traders with little experience. But Bitbuy Pro is better for traders with more experience. Investors and traders can use Bitbuy charts to view candles and volumes, which provide useful information. Chart settings include setting the period.

Additionally, the exchange provides its users with a service called 'Express,' which lets them buy the best cryptocurrencies with minimal hassle and time. However, each trade you make on Bitbuy Express will incur a 0.2% fee. As a result, a corresponding 0.2% will also be taken from your account when the transaction is complete.

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Bitbuy fees

Fee Amount
Crypto trading fee 1% to 1.50%
Inactivity fee Free
Withdrawal fee 1%  to 1.50%

Pros:

  • Easy-to-use Express Trade feature
  • Detailed charts and advanced tools
  • BTC insurance and secure crypto exchange
  • Compatible with iOS and Android devices
  • In Express Trade, traders pay only 0.2%, and in other trades, only 0.1%/0.2%

Cons:

  • Depositing and withdrawing money is subject to fees
  • Access to this exchange requires a VPN if you are not in Canada

Your capital is at risk

How to Trade Bitcoin in Malaysia - Fee Comparison

Platform Crypto trading fee Inactivity fee Withdrawal fee
eToro Spread, 0.75% for Bitcoin $10 a month after one year $5
Huobi Commission, starting from 0.2%

 

Free 0.2%

 

Crypto.com 0.4% per trade Free Free
Binance Commission, starting from 0.1% Free 0.80 EUR (SEPA bank transfer)
Bitbuy 1% to 1.50% Free 1%  to 1.50%

Conclusion

Bitcoin will play a major role in the future of finance. The technology will last for decades. The industry is worth a trillion dollars, so the government cannot ignore it. Because of this, digital currencies are officially or informally recognized by many governments around the world.

Goldman Sachs recommends these blockchain assets for those hesitant about cryptocurrency. Cryptocurrencies will fundamentally alter the way goods and services are bought and sold within a short period.

Despite the volatility of crypto investments, market research and analysis can produce a huge return on investment.

Suppose you plan to do your background research on any cryptocurrency. In that case, we suggest you use eToro since it provides expert analysis, trading strategies, crypto price analyses, as well as other information that will help you make an informed investment decision.

Investing in cryptocurrency in Malaysia can also be made easier with a regulated broker. Copying trades made by experienced traders is one of the most prominent features of this platform.

eToro – Best Platform to Trade Bitcoin With 0% Commission in Malaysia

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67% of retail investor accounts lose money when trading CFDs with this provider.

FAQs

What are the best Bitcoin trading platforms in Malaysia?

Customers can purchase bitcoins from many registered and qualified brokers. Our recommendations are eToro and Binance. Since both platforms are regulated and secure, you can complete a transaction quickly and easily.

Can I trade Bitcoin ETFs in Malaysia?

Exchange-traded funds (ETFs) are a way to invest indirectly in bitcoin. However, many larger platforms, such as major exchanges, do not sell or buy Bitcoin ETFs.

How to learn to invest in Bitcoin?

With eToro, you can learn more about investing in cryptos, building a portfolio, creating trading strategies, and gaining insight into price analysis, expert comments, and market news.

Is Bitcoin a buy?

In 2022, Bitcoin will be relatively safe as an investment. There are risks associated with investments, however, such as Bitcoin. Therefore, despite Bitcoin's reputation as a very safe currency, only those who have researched it and are confident are advised to use it.

Is Bitcoin trading illegal in Malaysia?

According to the Malaysian court system, cryptocurrency trading is legal.

How much money do you need to trade Bitcoin in eToro?

The amount of money you invest depends on your preferences, disposable income, and other factors. Be careful not to invest too much or too little in cryptos, as you may incur unnecessary risks. On the other hand, do not invest too little (say $50) since you will not gain much.

About Carlos Sereno
About Carlos Sereno

Journalist from Universidad Jorge Tadeo Lozano. Translator of Spanish and English. English as a second language. Interested in International media and sports media.