Want to trade Bitcoin? The Bitcoin Rate Malaysia for today is:
In the graph above, you can see the latest Bitcoin Rate for Malaysia according to the time.
The price of Bitcoin will change almost every minute. The Bitcoin Rate in Malaysia is affected by supply and demand. The more the demand, the higher the price.
On the flipside, the more people sell their Bitcoins, the lower the price.
The Bitcoin Rate in Malaysia will change according to the exchange you are on. For example, in Luno the price may be RM80,000 for a Bitcoin and on Bitfinex the price may be RM78.500. This is because people trade on different platforms all the time, and hence the difference in supply and demand.
Which is why you have to be cautious whenever you buy or sell Bitcoin. You must follow the price of the exchange you are trading on. You must also take into account factors such as time for transacting Bitcoin and the commission taken by the exchange.
If you are buying Bitcoin with a different currency, you’ll have to take into account the currency exchange as well if you want to track your actual ROI.
If you want to buy Bitcoin with Maybank, you can use exchanges such as Luno, Remitano or Localbitcoins.
Before buying Bitcoin you must first have a Bitcoin wallet. Many Bitcoin exchanges have their own wallets, but if you wish to invest in the long term it is better you have your own wallet, offline or online.
Side note: One of the best offline and secure wallets now is Ledger Nano S Wallet.
Now you might be thinking, what if I buy Bitcoin in one exchange and sell it at another exchange to make a profit (on the price difference)
While that may seem like a smart idea, many people are already doing that. This process is called Arbitrage. However, like I said you have to take into account factors such as transaction time for Bitcoin (Now it is very long because there are so many transactions but not enough mining power), and the commission the exchange(s) take whenever you are making a transaction.
Therefore, you got to really consider what is your strategy when investing in Bitcoin. Long term or short term? For investment or quick trades for profit?
The Bitcoin Rate Malaysia will always change according to the sands of time. Use the graph above to plan your next Bitcoin investing strategy.