This is a follow-up to my Bitcoin FAQ article. You need to understand bitcoin first before diving into other types of cryptocurrencies. If you have not read that, you might find this confusing, so read that first.
This article looks at cryptocurrency and altcoins from a more ‘investor’, rather than ‘tech’ point of view. If any info here is wrong or outdated, please let me know by commenting.
Looking for information about bitcoin in Malaysia? I’m glad people are showing more interest in this, but it’s risky to dive in without sufficient information. From my experience admin-ing one of the Bitcoin Malaysia FB pages (here; join for latest news and updates), seems like many people like to promote unsafe bitcoin investment opportunities.
So here’s a FAQ about everything you should know about Bitcoin in Malaysia, as a newbie. This is kept fairly jargon free.
Versi Malay yang ditulis oleh SenangBit
You know you gotta invest. That’s how you can achieve financial freedom. But dude, there’s way, WAY too many investment options out there. Some are legit, some are not. How do you know which ones are investment scams?
As someone who reads/works/writes about finance, I like to think that I can make that snap judgement whether an investment opportunity is legit or not. The last thing I want is an ‘investment’ that actually scams me out of my money, you know? In a Lowyat thread I was recently reading, this girl was lamenting her father’s tendency to get sucked into such ‘investments scams’, which resulted in him losing much of his money. Fella’s retired, too 🙁 My heart breaks for this girl.
So I thought, Imma write about what I know about spotting un-legit investments.
This is 100% the most updated list of where you can spend your bitcoins in Malaysia. Accurate as of 30 June 2016. If I missed any, please let me know. EDIT: article is super outdated.
At the end of the article I will also teach you how to spend your bitcoins in Malaysia using a debit card.
Related: Bitcoin for newbies guide for Malaysians
Today, I reached a milestone! RM10,000 in Bitcoins. This is the second investment I made after ASB (aka genetic lottery due to being technically Malay) that I hold more than RM10k in one investment vehicle.
Update March 2016: I’m now RM15k in.
In a previous post, I wrote about the 4 things I learned about buying Bitcoins in Malaysia.
Related: Bitcoin guide for Malaysians
Today I’m going to talk about why I personally invest in it.
On 29th December 2015, I became a proud owner of a bitcoin.
Well, to be exact, I own 1.0516 bitcoins. I’m planning to get some more.
Edit 31 Dec 2015: I now own 3.20 bitcoins yay
Edit 29 Jan 2016: 6.88 btcs 🙂
Btw, my wallet code is 13Pmx3xcZA81RKu11Z4iUnWQph5VyA72f2 (in case any of you want to donate 😉
Interested in my journey in buying Bitcoins in Malaysia and what I found out on the way? Read on..