RE: BUYING BITCOIN/STEEM IN MALAYSIA - which platform would you recommend?
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I am getting ready to set up my own Malaysian exchange since the one I had in Thailand got caught up in some mess with the US SEC and folded.
I already asked for advice from many Malaysian friends, @crypto.piotr. The only place recommended by every one of them is remitano.com. I'm about halfway done with the set up and have asked questions on the site. they are quick to respond and have had good answers and help. So far, so good.
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I loved your answer dear @fitinfun.
It is very accurate.
Please tag me once you do it. I am interested on trying it out and/or advising.
To change btc to the local currency in Malaysia, or anywhere is the world for that matter, binary btc atms are what are needed. A binary bitcoin atm allows you to buy btc for a fiat currency and also allows you to sell your bitcoin, or swap it to a fiat currency, using your mobile phone.
Use this website https://coinatmradar.com/country/129/bitcoin-atm-malaysia/
it helps because, it shows you where the locations of bitcoin atms are in any given country is any, and in which city, and the exact location the btc atm is located in. It also allows you to call ahead to see if the location of the bitcoin atm, which is usually a mall, store, or gas station, actually still HAS the bitcoin atm there, and you can call the store to ask if the atm is working before you get there to save time. (Some btc atms do breakdown, and need fixing)
The website also shows you the type of btc atm there, whether its binary, which allows for buying and selling of btc for cash, or if it is a stationary, one way btc atm, which is only for purchasing coins. It's best to learn about the different types of btc atms.
Fees at atms vary depending on the amount of coin purchased. The higher the amount purchased, the higher the fee. Some atms have a minimum amount you must buy, some have a maximum amount of transaction value done in a day, and some have no minimum deposit limit at all.
Be careful also, if you're in a country that is still wavering in the status of the legality of btc. Always be careful when purchasing coins, never send them to someone you dont trust totally, and use the mycelium wallet, or the blockchain wallet for best results.
Try not to use coinbase wallets, as some atms will have a sign warning you not to, but that's a topic for another post entirely.
Btc atms are the safest, they are private, near instant, and allow you to bypass online exchanges, which have so many rules and regulations based on country, linking banks, legality, verification of identity, etc.
If you must try exchanges or would like to, you can try:
paxful
coinmama
changelly
I try to avoid exchanges as much as possible, especially if they link to simplex such as in the mycelium wallet, or the coinbase, and changelly sites, because then you must use a credit or debit card, and verify your identity.
The trouble with this being, is that either your bank or the vendor/exchange can deny your btc transaction.
BTC atms still remain the surest, quickest, and most private way to get your coins.