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How to Buy Crypto with Bank Muamalat Malaysia Berhad

Last updated on November 12, 2023

Quick Summary: While Bank Muamalat Malaysia Berhad does not offer cryptocurrency trading through its own platform, you can make use of your account to purchase crypto through a third-party exchange.

There are a lot of Malaysia cryptocurrency exchanges to pick from, but we suggest using the eToro exchange.

They offer the majority of most well-known cryptocurrencies and are simple to use. They have lots of advanced features but are also great for beginners.


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Bank Muamalat Malaysia Berhad Homepage

As mentioned in my quick summary, like most Malaysia banks, Bank Muamalat Malaysia Berhad doesn’t allow users to trade cryptocurrency directly on their platform, due to the complexities with setting up a crypto exchange and comes with regulations and extra work for the banks.

Thankfully there are many cryptocurrency exchanges to pick from that allow you to buy Bitcoin and other cryptocurrencies.

Once you’ve signed up to a crypto exchange (in our example I’ll be using eToro as it’s a highly trusted and global exchange), you can easily move money from your bank account to the trading platform., and exchange it for a variety of cryptocurrencies.

How to buy crypto or bitcoin with Bank Muamalat

Let’s get started! Just follow our 4 quick steps.

1. Pick a crypto exchange

As mentioned above, I’ll be using eToro for this guide as they are a widely used exchange and have a huge range of cryptocurrencies to choose from. It’s also one of the best exchanges for beginners and allows more advanced features when you get more comfortable with trading.

The steps in this guide should be similar for most trusted crypto exchanges, so feel free to use whichever you end up going with.

Let’s get started!

2. Create account with the trading platform

You’ll first need to create an account if you haven’t already, you can do using this quick link below.

Sign Up With eToro

Once you’ve filled out the basic information you’ll be asked for KYC (Know Your Customer) information, this is normal for crypto exchanges to stop any bad activity. This will often be called the “verification” process.

3. Fund your account

Next, you’ll need to add funds to your account using any of their deposit methods. For eToro there are many options such as bank transfer, PayPal, credit/debit card, and many more.

4. Buy cryptocurrency

Lastly, you’ll need to go to the “trade” section, this will differ for each exchange but it will usually have some variation of this.

It’s that easy! You’ve now got the tools to buy your first cryptocurrency with Bank Muamalat Malaysia Berhad.

Buy Crypto With eToro

About Bank Muamalat Malaysia Berhad

Bank Muamalat Malaysia Berhad (Jawi: bGHk mml@mlysy) began operations on October 1, 1999, with the assets and liabilities inherited from the Islamic window for banking of the earlier Bank Bumiputra Malaysia Berhad, Bank of Commerce (M) Berhad, and BBMB Kewangan.

Bank Muamalat Malaysia Berhad, the second fully-fledged Islamic bank that was established in Malaysia following Bank Islam Malaysia Berhad, is poised to take on its part in offering Islamic banking services and products to Malaysians regardless of religion or race. It was founded on an income sharing model and its products were not tied with the Bank Indonesia discount rate, so it was able to survive its 1997 Asian financial crisis, which raised the average interest rates of banks in the other Indonesian banks.

DRB-HICOM owns 70% of the shareholding in the Bank and Khazanah Nasional Berhad holds the remaining shares.