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You'll need a Bitcoin wallet before you buy since some exchanges require one.
Don't have a wallet? Read our guide on the best Bitcoin wallets.
Coinmama allows customers in almost every country to buy bitcoin with a credit or debit card. They charge an ~6% fee on each purchase.
If buying less than $150 worth of bitcoins, you won't need to verify your identity. This convenience makes small purchases quick and easy.
Want to buy using Coinmama? This step-by-step guide will show you how to use Coinmama.
LocalBitcoins is an escrow service which also helps to match bitcoin buyers and sellers. The most common method of payment for purchase is cash deposit. However, users may advertise trades for whichever payment method they prefer.
Buying bitcoins via an in-person meeting, secured and facilitated by LocalBitcoins, may be one of the fastest and most private ways to buy bitcoins in any country.
Luno is a Bitcoin exchange with a presence in South Africa, Singapore, Nigeria, Malaysia and Indonesia. It offers 0% fees for market makers, meaning you can avoid fees if you place a buy order then wait for a seller to take it.
Luno also offers an Instant Buy feature.
Bitcoin Exchange Malaysia is a Bitcoin exchange based in Malaysia. It offers a fast and easy service, although its buying and selling rates aren't great.
You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they're also private. That convenience and privacy, however, comes with a price; most ATMs have fees of 5-10%.
Technically, VirWoX isn't even a Bitcoin exchange. It mainly serves as a way for people to buy Second Life Lindens, a currency used in the virtual world Second Life. You can't buy Bitcoin with PayPal directly at VirWoX, but it's possible to first buy Second Life Lindens (SLL) and then trade your SLL for Bitcoin. This process works perfectly, but in the end will cost you about 10% in fees.
This workaround/hack has made VirWoX the easiest and most popular way to buy bitcoins with PayPal.
Mycelium Local Trader helps you find local Bitcoin sellers. Once you locate a seller, you meet up in-person and conduct the trade. Mycelium charges absolutely no fees. While Mycelium Local Trader works great in highly-populated areas, users in low population areas will have trouble finding sellers.
Changelly lets you buy bitcoin with Litecoin, Dogecoin, altcoins and many other digital tokens. Changelly works in nearly every country but you will need another cryptocurrency in order to purchase bitcoins. Exchanges happen almost instantly because Changelly never actually controls your tokens but just exchanges them.
Bitcoin-OTC is an over-the-counter marketplace for the peer to peer exchanging of bitcoin. It is almost like a Craigslist for Bitcoin. Users must create ads or locate other ads to find sellers of bitcoin. Bitcoin-OTC is somewhat complicated and hard to use, but may be the only option for users in some countries without an exchange.
Malaysia has generally lacked behind in terms of major adoption, but this has changed in the last two years. The increased demand for bitcoins in Malaysia is no surprise – countries with weakening economies and loss of faith in the government have always seen people turn to Bitcoin. It is a vote of no-confidence in both the government and the currency.
On 4 November 2013, Bank Negara Malaysia (BNM) met with local bitcoin proponents to learn more about the currency but did not comment at the time. BNM issued a statement on 6 January 2014 that bitcoin is not recognised as a legal tender in Malaysia. The central bank will not regulate bitcoin operations at the moment and users should aware of the risks associated with bitcoin usage.
Throughout Malaysia, there is only one working bitcoin ATM located in Kuala Lumpur.
CoinBit.me is a new Bitcoin platform that was launched in Malaysia in April of 2017. Since its inception, 17,800 registered users from all around the world have signed up.
Malaysia’s Bitcoin market is growing quickly, with more and more merchants accepting the digital currency as a payment method. Luno.com lists 21 merchants that currently accept bitcoin as payment. The list can be found here .
A recent statement by Malaysia’s Bank Negara governor Tan Sri Muhammad Ibrahim at the Global Symposium on Developing Financial Institutions would indicate that Malaysia may be the next to open its doors to Bitcoin.
The governor addressed a number of different financial sectors but stated clearly that the Bank Negara was working on cryptocurrency guidelines.
Malaysia’s tax system is territorial, so only income accruing in or derived from Malaysia or received in Malaysia from outside is taxable. If mining operations are within Malaysia, taxation of gains would be possible. Malaysia only imposes capital gains tax on stock shares.