How to Buy Crypto with Citibank Malaysia

Last updated on November 12, 2023

Quick Summary: While Citibank Malaysia 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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Citibank Malaysia Homepage

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

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

Next you’ll want to sign up to an exchange (for this short guide I’ll use eToro as it’s a global and widely used exchange) and deposit funds so you can start trading crypto.

How to buy crypto or bitcoin with Citibank

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

1. Pick a crypto trading platform

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 crypto

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 Citibank Malaysia.

Buy Crypto With eToro

About Citibank Malaysia

Citibank Berhad is a licensed commercial bank that operates within Malaysia with its main office at Jalan Ampang, Kuala Lumpur. Citibank Berhad operates as a subsidiary of Citigroup Holding (Singapore) Private Limited which has been operating their banking services in Malaysia in 1959. Citibank Berhad was locally incorporated in 1994.

Today, Citibank Berhad has 11 branches spread across Kuala Lumpur, Selangor, Penang, Kuantan, Malacca and Johor. It also gives its customers access to cash as well as various banking services via 11,000 MEPS (Malaysian Electronic Payment System) ATMs, which cover more than 2,000 locations across the country.

Citibank Berhad (Citi) is an all-encompassing bank that offers an array of financial and banking services, including retail banking, institution banking as well as investment products and services. It also offers offshore financial services through its headquarters at Labuan, Malaysia. Citi is the one foreign financial institution graded AAA by Rating Agency Malaysia for 15 consecutive years.

Citibank is establishing strategic centers of excellence that provide central services across Kuala Lumpur, Penang and Johor Bahru through Citigroup Transactions Services (M) Sdn Bhd (CTSM was previously called Citigroup Trade Services Malaysia) that was established at the end of November, 1994. By incorporating CTSM, Citi became the first bank in Asia to choose Malaysia as the preferred location for its financial BPO (Business Process Outsourcing) services, leveraging the large and skilled staff in Malaysia.

Penang hub Penang center is among the biggest trade processing centre of Citi worldwide and provides operations to assist Citi’s trade commercial and cash management businesses that cover more than 100 countries. It also has a network of 3300 banks that provides services to Asia, Europe, US, Africa and the Middle East.