Malaysia has emerged as a growing hub for cryptocurrency adoption, with increasing interest from both novice and experienced investors. As digital assets gain mainstream traction, choosing the right crypto exchange becomes crucial for secure, cost-effective, and user-friendly trading. This guide explores the top five crypto exchanges available in Malaysia, comparing their features, supported coins, security measures, fees, and regulatory compliance to help you make an informed decision.
Luno – Best Overall Crypto Exchange in Malaysia
Established in 2012, Luno stands out as one of the most trusted and regulated digital asset platforms operating in Malaysia. Known for its strong reputation and active community, Luno offers a seamless experience for buying, selling, and storing major cryptocurrencies using Malaysian Ringgit (MYR).
Key Features:
- Easy conversion between MYR and popular cryptocurrencies
- User-friendly interface suitable for beginners and intermediate traders
- Supports bank transfers and credit/debit card deposits
- Mobile app for on-the-go trading
- Majority of funds stored in cold storage for enhanced security
- Competitive trading fees compared to regional peers
Supported Cryptocurrencies:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Bitcoin Cash (BCH)
- USD Coin (USDC)
- Litecoin (LTC)
Luno is particularly popular across Southeast Asia, including Malaysia, Singapore, and Indonesia. Its compliance with local regulations makes it a go-to choice for users seeking a reliable and legally recognized platform.
👉 Discover a secure and easy way to start your crypto journey today.
Tokenize – Best for Security-Conscious Traders
Founded in 2017 and based in Singapore, Tokenize is a secure digital asset exchange that emphasizes safety and transparency. While not exclusively focused on Malaysia, it serves an international client base and is known for its robust security infrastructure.
Key Features:
- Intuitive platform ideal for new users
- Zero market maker fees to encourage liquidity
- Over 40 supported cryptocurrencies
- Two-factor authentication (2FA) enabled by default
- Client-side encryption of private keys (decentralized storage)
- Referral program offering rewards for user acquisition
Supported Assets:
- Major coins like Bitcoin (BTC) and Ethereum (ETH)
- Wide range of altcoins
- Specialization in ERC20 token listings
Tokenize appeals to users who prioritize asset protection and decentralized control over their private keys. Although headquartered in Singapore, it remains accessible to Malaysian investors seeking a secure gateway into crypto.
Sinegy – Ideal for Beginners & Local Market Focus
Launched in 2017 in Penang, Sinegy holds the distinction of being Malaysia’s first licensed digital asset exchange operator. Regulated by the Securities Commission Malaysia, Sinegy provides a compliant and localized trading environment.
Key Features:
- Fully regulated by Malaysian authorities
- Direct fiat-to-crypto trading with MYR deposits
- Advanced charting tools and technical indicators
- Competitive rebates for market makers
- Cold wallet storage for maximum security
Supported Cryptocurrencies:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
Sinegy is tailored specifically for Malaysian users, offering a smooth onboarding process and MYR-based trading pairs. Its focus on regulatory compliance makes it a trustworthy option for conservative investors.
Huobi – Top Choice for Advanced Traders
Originally founded in China in 2013 and now operating globally from Seychelles, Huobi is a powerhouse exchange catering to experienced traders. With high liquidity and advanced trading tools, it supports both spot and derivatives markets.
Key Features:
- Over 300 tradable cryptocurrencies
- Fiat deposit options including MYR, USD, and USDT
- Margin trading and crypto lending services
- Futures and options (derivatives) available
- Mobile apps with real-time data and order execution
- Multilingual customer support
Supported Assets:
- All major coins: BTC, ETH, BNB, SOL, etc.
- Stablecoins, DeFi tokens, metaverse assets, and newly listed altcoins
Huobi’s global presence spans over 170 countries, with strong adoption across Asian markets. Malaysian traders looking for leverage, derivatives, or exposure to emerging projects will find Huobi highly advantageous.
Kucoin – The Cheapest Crypto Exchange
Launched in 2017, Kucoin is a global crypto-to-crypto exchange renowned for its low fees and vast selection of micro-cap altcoins. With over 8 million users worldwide, it's especially popular among cost-conscious traders and early-stage investors.
Key Features:
- More than 600 supported cryptocurrencies
- Trading pairs with BTC, ETH, and other major coins
- Ultra-low trading fees starting at just 0.10%
- Simple interface with mobile app support
- 24/7 multilingual customer service
Supported Assets:
- Leading coins: BTC, ETH, SOL
- Long-tail micro-cap tokens with high growth potential
While Kucoin doesn’t offer direct MYR deposits, Malaysian users can easily transfer USDT or other stablecoins from local exchanges to begin trading. Its affordability and diversity make it ideal for those hunting for hidden gems in the crypto space.
👉 Access low-fee trading with advanced tools designed for every level of investor.
How to Buy Cryptocurrency in Malaysia: Step-by-Step Guide
Whether you're new to digital assets or expanding your portfolio, follow these steps to safely purchase crypto in Malaysia:
- Choose a Regulated Platform: Opt for exchanges approved by the Securities Commission Malaysia (SCM), such as Luno or Sinegy.
- Register & Verify Identity: Sign up using your email, create a strong password, and complete KYC verification.
- Deposit Malaysian Ringgit: Use bank transfer, credit/debit card, or e-wallet to fund your account.
- Select & Purchase Crypto: Choose your desired cryptocurrency (e.g., BTC or ETH), enter the amount, and confirm the transaction.
- Secure Your Holdings: For long-term storage, transfer assets to a hardware or non-custodial wallet.
Is Cryptocurrency Legal and Taxed in Malaysia?
Is Crypto Legal?
Yes — cryptocurrency is legal in Malaysia. While not recognized as legal tender, the government permits its use for investment purposes. The Securities Commission regulates digital asset exchanges under capital markets laws.
How Is Crypto Taxed?
Currently, Malaysia does not impose capital gains tax on personal cryptocurrency investments. However, businesses earning income through crypto activities may be subject to income tax. Regulatory clarity is expected to evolve as adoption grows.
Frequently Asked Questions (FAQs)
What is the best crypto exchange for beginners in Malaysia?
Luno and Sinegy are highly recommended for newcomers due to their simple interfaces, MYR support, and regulatory compliance.
Which exchange offers the lowest fees?
Kucoin leads with trading fees as low as 0.10%, making it the most cost-efficient option among major platforms.
Can I buy crypto directly with MYR?
Yes — Luno, Sinegy, and Tokenize allow direct purchases using Malaysian Ringgit via bank transfer or card payment.
Are my funds safe on these exchanges?
Reputable platforms like Luno and Sinegy store most assets in cold wallets and implement strict security protocols including 2FA.
Do I need to pay tax when I sell crypto?
For individual investors, there is currently no capital gains tax on crypto sales in Malaysia. Always consult a tax professional for personalized advice.
Which exchange has the most coins available?
Kucoin offers over 600 cryptocurrencies, far exceeding other platforms in terms of altcoin variety.
👉 Start trading securely on a platform trusted by millions worldwide.
Choosing the right crypto exchange depends on your experience level, security needs, fee sensitivity, and investment goals. For beginners seeking simplicity and safety, Luno and Sinegy are excellent starting points. Those focused on minimizing costs should consider Kucoin, while advanced traders will benefit from Huobi’s sophisticated tools. Regardless of your path, always prioritize regulated platforms and practice sound digital asset security.