So in light of the SC's announcement of a Binance ban for Malaysian users, I'll list down some alternative crypto exchanges that I have used before.
Recommended list:
1) Kucoin:
The best option to look for low market cap altcoins on top of all the most popular cryptocurrencies. Currently don't have any issues with withdrawals, and withdrawal fees are quite close to Binance's. No KYC needed for small amount transfers. The only inconvenience is that there's a main account and a trading account, the main account is for deposits and withdrawals, while you have to transfer your assets to the trading account to start trading (no fees for this action). If you hold their native token, KCS, you can receive daily crypto dividends collected from trading fees, get trading fee discounts, trade in KCS pairs and get exclusive offers. There's a referral code: rJ8Q6T4 you can use to get trading fees discounts if you sign up.
2) Crypto.com:
I use Crypto.com first before Binance. They are the leaders in providing debit card services that gives crypto cashbacks for every purchase in their native token CRO. You can buy most of the popular cryptocurrencies using their Crypto.com app. The app and the exchange are separate as the app is mobile only while the exchange is web browser only. They also have the flexible and locked earn programs to earn interest on your cryptos, but not competitively high. You can also participate in Syndicate and Supercharger events to earn different types of yield with your CRO tokens.
Unfortunately, if you reserved your card, you won't be able to get the card in Malaysia unless if you reside in Singapore. For context, mine's have been waiting since last year. Trading and withdrawal fees are higher than Binance & Kucoin, except if you are a VET investor, then they have the lowest withdrawal fee of just 0.05VET. Use my referral code: 2zphtgju37 to receive at least $10 in CRO when you stake at least 1000 CRO.
3) Celsius Network:
By far my most favourite centralized platform. No deposit fees, withdrawal fees, lockups or any other hidden fees. It's one of the most established platforms earning yields of up to 17.78% on your cryptos, and up to 11.21% on your stablecoins, and the itnerests will be rewarded every Monday and will be compounded weekly. They work like a crypto bank where they take your deposits, lend them to institutions and charge them interests, while giving back 80% of the interest revenue to the depositors, thus the rates mentioned and will vary according to institutional demand. It's also a very secure platform with 2FA, biometrics, HODL mode (disable withdrawals until you wait one day if you disable this mode to prevent hackers move your funds easily), whitelist withdrawals (change to another withdrawal address will have to wait 24 hours). There's also a concept called proof-of-community where you can audit the interests that you get from Celsius is correct. You can also check their website, at the About section, click the "Why Trust Celsius" & "Security Insight" for a better understanding on how the platform secure your funds.
It's not an exchange platform, but they are going to implement an in-app swap soon where you can swap tokens in the app for minimal or no fees. They are also releasing a credit card soon, but I doubt that we can use it in Malaysia.
Best of all, they give promo codes for new users, where you can earn $50 for transferring a minimum of $400 into your Celsius account for the first time if you use my referral code: 1587314a52. Other promo codes are stated here:
HODL10: Transfer $100 or more in any crypto to earn $10 bonus in BTC.
HODL50: Transfer $500 or more in any crypto to earn $50 bonus in BTC.
BNB40: Transfer $400 or more in BNB to earn $40 bonus.
UNI60: Transfer $400 or more in UNI to earn $40 bonus.
Remember to not transfer crypto out for 30 days to unlock your promo and referral rewards. You can still withdraw your tokens out within that period, but it will forfeit your rewards. Also remember to deposit at least 20 to 30% more of the transfer amount value mentioned to factor in the crypto price volatility. If the crypto price drops below the transfer amount, your rewards will also be forfeited. The safest bet is to deposit stablecoins.
4) Orion Protocol:
This is recommended for those who wish to trade in decentralized exchanges. They are aggregating every centralized, decentralized and swap pools into one single exchange (think Binance, Kucoin, Uniswap and other swap and exchange platforms under one Orion platform), so that you can alwyas get the best price for a particular crypto. You can choose the Binance Smart Chain wallet to save up networking fees, and they listed many popular tokens (but do note that the tokens listed such as BTC, ETH, ADA, etc are Binance-pegged, which means they can only be transferred via the BEP-20 network). No KYC required and you get to own your keys, own your crypto using your Metamask wallet or your hardware wallet. If you hold ORN, you can stake your ORN to get interests of around 12% APR, or provide liquidity to liquidity pairs to get as high as 70% APR.
5) Coinex:
Decent exchange, also list most of the popular cryptos there, trading and withdrawal fees are also reasonable. You can even select a BEP-20 USDT deposit there to save your withdrawal fees. Once I had that deposit stuck for a day, contacted customer support and they resolved my issue in 24 hours, so their customer service seems fine. Also no KYC required if you're trading small amounts.
6) Nexo:
Worthy rival of Celsius Network. You can also earn up to 8% APR on your cryptos and 12% APR on your stablecoins, while the interests are compounded daily. You can currently swap your tokens inside the app, but I think transferring them to Binance/Kucoin will be more worth it. Withdrawals are free but with limits.
Not recommended list:
1) Luno:
By far one of the highest trading fees (2% if you buy tokens directly from the app, 0.5% in the exchange). Withdrawals fees are dynamic and unpredictable unless if you use Ripple XRP. Only 5 coins listed in there. Enough said.
2) Hotbit:
An alternative to Kucoin for buying small market cap coins. The withdrawal fees for the tokens are also high. Recently got hacked not long ago.
3) Bitfinex:
I have by far the worst user experience using Bitfinex. It took me quite some time to get around on how to view balances, make deposits and withdrawals, and perform trades. Still difficult to use after getting the hang of it. Furthermore, you can read the scandal of Bitfinex & Tether to learn why you will not want to trust this platform. The features are also super limited if you don't provide KYC to them.
Not Available for Malaysian Users:
Coinbase, Bitpanda, Voyager (will add more if I can think of more)
Exchanges that I havent tried before:
Huobi, FTX, Gate.io (will add more if I can think of more)
Feel free to comment down the exchanges you used and talk about your experiences.
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