Top Crypto Trading Platforms in Malaysia

Crypto trading in Malaysia is experiencing steady growth, driven by structured regulations provided by the Securities Commission Malaysia (SC). These standards establish a trusted and secure environment for exchanges serving local investors. Below, we've provided the country’s leading crypto trading platforms, comparing their trading fees, security, features, and available MYR deposit methods.

1. Bybit

Bybit is the top cryptocurrency exchange among Malaysian investors, offering a feature-rich platform that can be used in Malay and supports MYR deposits. The exchange currently serves over 68 million global users, handling daily transaction volumes exceeding $30 billion across both order books.

The platform was previously ordered to halt its services in Malaysia, but the SC has since eased these restrictions. Bybit offers spot trading, futures and perpetual contracts, and USDT-settled derivatives with 125x leverage. Traders benefit from sophisticated tools such as Grid, Futures Combo, and DCA Bots.

In addition to trading, it provides the Bybit Card, offering up to 10% cashback, high-yield staking options, copy trading features, a demo account and flexible crypto lending and borrowing services. Bybit also regularly publishes proof-of-reserves, ensuring all customer assets remain backed on a 1:1 basis.

Platform Highlights:

• Fees: Spot trading fees start from 0.1%.
• Supported Assets: Over 1,800 cryptocurrencies.
• Regulation & Licensing: Globally licensed and compliant with international financial standards.
• MYR Deposit Methods: Bank transfers via FPX (Maybank, CIMB, Public Bank), Touch n Go, Shopee, credit cards, debit cards, and Grab Pay.

2. Uphold

‍Uphold is an ideal exchange for Malaysian cryptocurrency newcomers, combining ease-of-use with a secure and highly transparent trading environment. Founded in 2014, it uniquely simplifies trading by allowing direct, single-step transactions between any of its three supported asset classes.

A significant feature that sets Uphold apart is its support for multi-asset trading across crypto, fiat currencies and commodities. Additionally, it provides attractive staking opportunities that earn up to 15% APY across 19 digital assets with flexible staking terms, allowing for instant unstaking.

The platform regularly publishes real-time data on its assets and liabilities every 30 seconds, ensuring user confidence through unparalleled openness. Uphold maintains rigorous international certifications, including SOC 2 Type 2, ISO 27001, and PCI DSS, reinforcing its commitment to data security.

Platform Highlights:

• Fees: Variable crypto trading fees ranging from 0.2% - 2.95%, depending on the asset.
• Supported Assets: Over 300 cryptocurrencies, 27 fiat currencies and 4 precious metals.
• Regulation & Licensing: Globally licensed and accessible from Malaysia.
• MYR Deposit Methods: Credit cards and debit cards.

3. KuCoin

KuCoin is a favourite among Malaysian investors seeking exceptional staking rewards and a wide range of trading options. Launched in 2017, it now supports over 40 million global users across 200 countries and facilitates MYR deposits from local banks like Maybank, CIMB, and Public Bank Berhad.

The diverse product ecosystem includes spot trading, derivatives, margin trading, and popular leveraged tokens designed to enhance returns. Its key offering is KuCoin Earn, where users access yield-earning features like staking, savings, KCS staking, Spotlight, Crypto Lending Pro and GemPool. 

Security is prioritized with advanced encryption standards, secure storage, and comprehensive account protection. KuCoin’s transparent Proof of Reserves process publicly verifies asset backing in real time. Furthermore, it offers multilingual customer support in both English and Malay.

Platform Highlights:

• Fees: Spot trading fees start at 0.1%.
• Supported Assets: Over 900 cryptocurrencies.
• Regulation & Licensing: Licensed in several jurisdictions and accessible from Malaysia.
• MYR Deposit Methods: Bank transfers, debit cards and credit cards.

4. Bitget

Bitget is becoming increasingly popular among Malaysian crypto investors due to its advanced copy trading features with more than 180,000 elite traders. The exchange serves over 100 million users globally and achieves daily trading volumes exceeding $25 billion across both spot and derivatives trading.

The main feature of Bitget is its advanced copy trading platform, where thousands of elite traders share strategies for spot, futures and bot trading. Alongside copy trading, it provides diverse trading options, including spot, futures, margin trading, and sophisticated trading bots.

The Bitget Earn service further enhances profitability by offering users secure crypto yield products. Security is central to the platform, reinforced by a substantial $549 million Protection Fund and strict asset management practices, including cold storage of user funds and a 1:1 asset backing.

Platform Highlights:

• Fees: Spot trading fees start at 0.1%.
• Supported Assets: Over 800 cryptocurrencies.
• Regulation & Licensing: Regulated globally and available in Malaysia.
• MYR Deposit Methods: Bank transfers, debit cards, credit cards, Apple Pay and Google Pay.

‍5. Luno

Luno is Malaysia’s leading cryptocurrency exchange, trusted by 15 million users globally. Established in 2013, the platform has been fully regulated and licensed by the Securities Commission Malaysia since 2019, highlighting its commitment to transparency, security, and compliance. 

Luno allows Malaysian users to easily deposit Malaysian Ringgit via trusted local methods such as FPX transfers, bank deposits, and Touch ‘n Go eWallet. Users benefit from recurring buy options, which enable daily, weekly, or monthly scheduled purchases and help them build their crypto portfolios over time.

The exchange also offers Ethereum staking with weekly payouts of up to 4% APR. Additionally, stringent security practices, including rigorous KYC and AML processes, industry-leading encryption, and intensive asset vetting, ensure users' investments remain secure at all times.

Platform Highlights:

• Fees: Trading fees start from 0.75%.
• Supported Assets: 25 cryptocurrencies.
• Regulation & Licensing: Fully licensed by the Securities Commission Malaysia.
• MYR Deposit Methods: Bank transfers (FPX), Touch ‘n Go eWallet, and local bank deposits.

Is Crypto Regulated in Malaysia?

​Malaysia has established a comprehensive regulatory framework for cryptocurrencies. While digital assets are not considered legal tender, they are classified as securities. This classification brings digital assets under the oversight of the Securities Commission (SC), which regulates their issuance, trading, and custody.​

The SC has introduced specific guidelines for various participants in the digital asset ecosystem. Digital asset exchanges must register as Recognized Market Operators (RMO), ensuring compliance with standards related to governance, risk management, and investor protection.

In addition to the SC's regulations, Bank Negara Malaysia, the country's central bank, plays an important role in monitoring the use of digital assets to safeguard the financial system's integrity. Furthermore, Malaysia has implemented the Anti-Money Laundering, Anti-Terrorism Financing, and Proceeds of Unlawful Activities Act 2001, which applies to digital asset activities.​

How is Crypto Taxed in Malaysia?

Cryptocurrency taxation in Malaysia primarily depends on whether the activities involved constitute active trading or passive investing. Malaysia does not have a capital gains tax, meaning profits from merely holding or occasionally selling cryptocurrencies are typically tax-free. 

However, individuals engaging regularly in crypto transactions classified as active or "day traders" must declare their gains as taxable income. The Inland Revenue Board (IRB) applies the Income Tax Act 1967, specifically Section 3, to determine if cryptocurrency transactions meet the criteria of business activity. 

The "badges of trade" framework helps the IRB assess taxable status based on factors such as frequency of transactions, short holding periods, deliberate business motives, or borrowing funds to buy cryptocurrencies. Tax rates range progressively from 3% to 30%, depending on the total taxable income. 

Cryptocurrency Adoption in Malaysia

Malaysia’s cryptocurrency market is rapidly expanding, with revenues anticipated to reach approximately US$290.9 million by mid-2025. Around 4.65 million Malaysians, roughly 13.27% of the population, are expected to participate in crypto trading and investments by the end of the year. 

This growing interest is supported by regulatory oversight from the Securities Commission Malaysia (SC), which ensures that licensed crypto exchanges and related financial services maintain high standards of transparency and compliance.

How to Buy Bitcoin in Malaysia

‍Investors in Malaysia looking to purchase Bitcoin should use cryptocurrency exchanges approved and regulated by the Securities Commission Malaysia (SC). Follow these simple steps to safely buy BTC in Malaysia:

1. Choose an Exchange: Pick a trusted cryptocurrency exchange licensed by Malaysia's SC, ensuring it supports Malaysian Ringgit (MYR) deposits.
2. Create Account: Register an account on your selected exchange and complete the necessary identity verification process. You'll typically need to provide a government-issued ID and proof of address.
3. Deposit MYR: Fund your exchange account using supported local methods, such as FPX bank transfers, direct bank deposits, or card payments.
4. Buy Bitcoin: Go to the exchange's Bitcoin trading page, enter the amount of BTC you wish to buy, review the applicable exchange rate and fees, and then confirm your transaction.

By following these straightforward steps, Malaysian investors can confidently purchase Bitcoin using secure crypto trading platforms.

Final Thoughts

As cryptocurrency continues to gain traction in Malaysia, choosing the right exchange can significantly impact your investing experience and financial outcomes. 

Platforms like Bybit, Uphold, KuCoin, Bitget, and Luno provide diverse options tailored to various trading needs. Whether you're a beginner or an experienced trader, these exchanges offer the tools and support necessary to navigate the digital asset market.