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What Is A Bitcoin Kclau.com

What Is A Bitcoin Kclau.com

Colbert Low, one of the earliest Bitcoin user in Malaysia, and also the founder BitcoinMalaysia.com , shared about this digital currency and how it may affect the way you keep your money online. Bitcoin is a protocol. Some people call it magic Internet money, some call it e-cash, but what it is, is a global payment system. Its the best of both worlds. People nowadays like digital stuff like digital books, digital walls, and like Bitcoins, digital cash. Everything is digital because people dont like to wait nowadays. Imagine going out for lunch and you decided to split the bill between ten friends. One of these friends would say, Oh, I have a RM 100. How many of you will split it? If you have Bitcoins on our phone, you simply have to scan a QR code and instantly pay your friend back. Its borderless and its much faster because it confirms in a few minutes. An example of Bitcoin as a global payment system is, for example, sending money to your friend in, say, South America. Its pretty easy. Go online to a website, send some Bitcoins, and receive confirmation in about one or two minutes. Compare this to going to Maybank, for instance, a TT will take about 24 to 48 hours to clear. Bitcoin is said to be created by someone named Satoshi Nakamoto. Some people say hes British, some say hes Japanese no ones really sure. Some people even say hes an alien. Bitcoins are decentralized and are peer-to-peer. Im sure normal people are put off by these terms, but techies love them. What do these words mean? Bitcoins are decentralized meaning, in contrast to Paypal or Western Union, Bitcoin servers are all around the world. We call these servers Bitcoin nodes. Anyone can install a Bitcoin Node. I can even install it on my RM 1000 laptop Dell, or HP, or whatever and turn it in to a Bitcoi Continue reading >>

Reddit: The Front Page Of The Internet

Reddit: The Front Page Of The Internet

Technically, yes. Mnemonic phrases are basically passwords after all, often 12-words long, so assuming he knows how all this works and how to use it (which I really doubt), it'd be relatively easy for him to gain access to my acc. It's in a safe for that reason, but that's mostly a deterrent. I also have a custom passphrase on top of that, so even if he knows the full recovery phrase, he'd still be stuck at that part. So he'd have to somehow brute force his way through without the custom passphrase, which is pretty unlikely. He knows the thing is valuable to me, but doesn't know how much there really is in there. Most importantly, I absolutely trust the guy, he's the last person I'd expect to betray my trust like that. 7 points 4 months ago edited 4 months ago Here's some guide to help the users who are stuck. Luno lets you convert your MYR or BTC to ETH. From there just go to your ETH wallet and transfer it to another ETH wallet or an exchange with ETH wallet and trade it back to BTC. You will only incur a small transaction and maker/taker fee depending on the exchange's fee policy. Either way, if you want to cash out also is up to you, thought there will may be withdrawal fee of 1-3%. In any case, anyone who consider themselves a serious owner of their cryptos should always have a separate default wallet that does not sit with an exchange or anyone else! Continue reading >>

Taxman Scrutinises Crypto Exchanges

Taxman Scrutinises Crypto Exchanges

Rules gradually being enacted to clamp down or regulate trading of cryptocurrencies in some Asian countries CRYPTOCURRENCIES are all the rage the world over. Based on the potentially revolutionising blockchain technology, the best-known cryptocurrency remains bitcoin, which has attracted the attention of speculative traders across the globe. This week, though, the cryptocurrency saga hit a notable milestone, which will very likely result in changes in rules related to the trading of such currencies. Tax authorities in countries such as South Korea and India have clamped down on cryptocurrency exchanges, wanting to know who is dabbling in cryptocurrencies and whether these customers are evading taxes. New exchanges the world over are doing brisk business facilitating the buying and selling of cryptocurrencies. The United Kingdoms The Independent reported this week that Hong Kongs Binance.com, said to be the worlds largest cryptocurrency exchange, is currently adding a couple of million members every week. Malaysian tax authorities have also jumped into action. The largest cryptocurrency exchange in Malaysia is said to be Luno. However, over the past few weeks, its bank account in a major local bank was frozen by the authorities. This sent shockwaves across the cryptocurrency scene in Malaysia. Luno currently trades the two most popular cryptocurrencies bitcoin and ethereum. StarBizWeek reported last month that Luno had one million customers or wallets registered. The exchange had revealed that Malaysians traded over 900 bitcoins on the Luno exchange in a single day last December, which worked out to some RM40mil. A source had told StarBizWeek in December that one of the popular exchanges had hit a trading volume of some RM500mil from Malaysian trades last year alone. As Continue reading >>

Where To Buy Bitcoin In Malaysia

Where To Buy Bitcoin In Malaysia

Historically, Bitcoin has been rather difficult to buy in Malaysia as there used to be a large friction in getting a hand on this cryptocurrency. However, the process is easier now with a few changes starting in the year 2014. Here is some introduction on where to buy Bitcoin in Malaysia. Luno, which was known previously as BitX, is one of the latest exchanges that offer Bitcoin trading services even though it is headquartered in Singapore. It is founded by Marcus Swanepoel back in January 2013. This company focuses on emerging markets like Malaysia, Singapore, Indonesia and South Africa. You may basically sign up for an account at Luno prior to be able to buy Bitcoin in Malaysia. One important advice is to always use a very strong password that you have not used on other channels so that it cannot be easily hacked. In addition, remember to run Malware scans for safety purpose. You will be given a limit of RM5000 if you do not give any identity verification. It is solely up to yourself whether to give a softcopy of your identity card or passport to verify yourself. You can skip this step if you do not reach the limit of RM5000. In order to buy Bitcoin, you will need to first deposit some money into your Luno wallet. You need to click in the system and specify how much ringgit that you wish to deposit and then you will be given a reference number. You may deposit the money with your CIMB, Public Bank or Maybank using their account and reference number and then click on the button, which says that you have deposited the money. Once that is completed, you need to wait for a few hours for the Bitcoin to be delivered to your wallet. If you wish to withdraw the Bitcoin elsewhere, you just need to key in the wallet address of the targeted destination. It is highly recommended Continue reading >>

Bitcoin & Ethereum Reseller And Mining In Malaysia | Coinvestasia

Bitcoin & Ethereum Reseller And Mining In Malaysia | Coinvestasia

Cryptocurrencies are decentralised virtual and highly encrypted currencies held digitally online, they are safe, private, easy to use, quick, and highly valuable. You can use cryptocurrencies to make payments or transfer to anyone anywhere with extremely low fees. Fees are often determined by the amount of data involved in a transaction and not based on the amount itself. A great long-term strategy in investing is to buy a little bit of each of themsince its impossible for anyone to really know which ones will survive the next 5-10 years. One thing for sure, the entire market of cryptocurrencies will go up, so diversifying your investments in them will future-proof your portfolio. The price keeps fluctuating, please contact us in order to get the latest price for BTC/MYR and ETH/MYR. Notify us about the payment and wallet address confirmation If you agree with the current price fair and made payment to our account. Please send us your wallet address. (Note : BTC and ETHaddresses are not the same) You may contact us to get the latest BTC/MYR & ETH/MYR price. After we confirmabout your transaction to our address, you are guaranteed to receive fund in less 2 hours. Continue reading >>

Thinking Of Trading Bitcoin? Here Are 10 Things You First Need To Know Before Starting

Thinking Of Trading Bitcoin? Here Are 10 Things You First Need To Know Before Starting

Thinking Of Trading Bitcoin? Here are 10 Things You First Need To Know Before Starting Ever wanted to get in on the BitCoin action? Read this first. Over the past two years, the subject of cryptocurrencies has been gaining staggering popularity and interest among investors. At the forefront of this conversation, Bitcoin has been a trailblazer in the way people are starting to make transactions and interact with financial markets. Exploding on to the financial scene in 2013, Bitcoin saw its prices surge from under USD15 to close to USD1,000 in a short span of time, and subsequently rising to more than USD2,500 today. This rise in prominence and volatility has led to greater interest among traders as they look to capitalise on the price swings in it. However, whether you are an experienced trader or an investor looking to also trade this virtual currency, there are important things you first need to know before you starting trading. #1 You Dont Own The Underlying Asset When You Trade Unlike investing in Bitcoins where you own the underlying asset in a Bitcoin wallet, trading Bitcoin CFDs does not require you to own the underlying asset and there will be no delivery of Bitcoin only the difference in the entry and exit prices of the CFD contract which is denominated in USD will be paid out. For example, when you trade Bitcoin CFDs using a broker like IG , you are entering into a Contract For Difference (CFD) with the broker. This allows you to go long (if you think the Bitcoin prices will increase in the future) or short (if you think the Bitcoin prices will decline in the future). In essence, you do not actually need to own any Bitcoins to profit from it. Read Also: This Is Why Some People Trade, Rather Than Invest When it comes to trading, you should always know the coun Continue reading >>

Fyb-sg Faq

Fyb-sg Faq

You can change your password by using the Forgot Password feature. I am getting an OTP prompt when logging in, but did not receive any SMS. The OTP can be obtained from the Google Authenticator app. It can be found on the deposit page, in the bank deposit details box. The code is unique to your account and must show on our statement in order for your account to be credited. You simply key in the quantity of Bitcoins you wish to buy/sell and the price(exchange rate) in the respectivebuy/sell field and click the Buy/Sell button. Once you have executed a trade, the following chain of events take place : 1. FYB will try to fill your order with other pending orders at the same or better price than you indicated. In other words if you try to buy 1BTC at $25000, Fyb will try to fill your order with the lowest selling price orders up till $25000. If there are sell orders below $25000, you will be filled at a better rate. 2. If your entire order is filled, execution stops. If there is a partial fill(ie. only 0.8BTC could be bought at/below $25000) then the remaining qty is listed as a pending order(Buy Pending Order 0.2BTC at $25000) Is the Bitcoin deposit address for my account unique, does it change? Your deposit address is unique to your account and is not shared with any other account for receiving deposits.Any new payments to the address will be reflected in your FYB-SG bitcoin balance.(Note this does not apply to withdrawals, withdrawal of BTC can come from different addressesand therefore the actual Bitcoin balance of your deposit address is not representative of your FYB-SG Bitcoin Balance). If im a miner, can i send my mining payouts directly to my deposit address? However, it is unlikely to be profitable to mine if you reside in Singapore unless you have access to fre Continue reading >>

Bitcoin Use Case; Send Money Abroad In 24h Shops Without A Bank Account

Bitcoin Use Case; Send Money Abroad In 24h Shops Without A Bank Account

According to the World Bank, remittances to the developing world are expected to reach US$440 billion in 2015, an increase of 0.9% over the previous year. The East Asia and Pacific region alone is expected to weight as much as US$125 billion, or 28.4% of the total remittance flows to the developing world. This juicy market has attracted many fintech entrepreneurs who are all looking to compete against dinosaurs of the likes of Western Union and MoneyGram, by providing cheaper, easier and faster ways of transferring funds across the globe. Rebit.ph, are among the many platforms that are using bitcoin to power these global remittances. Also knows in the jargon as rebittances, these startups offer a way to users to send and receive almost instantly money from friends and relatives located abroad. Bitspark Joins Accenture FintechInnovation Lab selected to participate in the 2015 Fintech Innovation Lab Asia-Pacific. Following the 12-month program, the seven selected startups will have the opportunity to pitch their product to potential investors and industry experts. Accentures Fintech Innovation Lab, a program launched last year with support from banks and financial institutions such as Bank of America Merrill Lynch, China Construction Bank, China Citic Bank International, Commonwealth Bank of Australia, Credit Suisse, Goldman Sachs, HSBC, J.P. Morgan, Maybank, Morgan Stanley, Standard Chartered and UBS, aims to nurture early-stage fintech startups that are eyeing the Asia-Pacific region. Its exciting working with entrepreneurs, Jon Allaway, senior managing director, Financial Services at Accenture, said. Like Accenture, they envisage a future where technology solutions not only arm financial institutions with far-more-sophisticated, fine-tuned data but also make everyday Continue reading >>

Bitcoin And Ethereum Made Easy | Buy, Store And Learn About Bitcoin And Ethereum In Malaysia | Luno

Bitcoin And Ethereum Made Easy | Buy, Store And Learn About Bitcoin And Ethereum In Malaysia | Luno

New to Bitcoin or Ethereum? Learn more on our Learning Portal Why are so many people investing in digital currencies like Bitcoin? People all over the world use Bitcoin to send money to friends and family or buy things online. It can be cheaper, faster and easier to use than ordinary money. Like the internet, no single entity controls Bitcoin. It provides users with both transparency and privacy. It puts you back in control of your money. People are buying Bitcoin because its like digital gold. It is used as an alternative store of wealth, for portfolio diversification, and long term investment. Learn more about Bitcoin and Ethereum on our Learning Portal Why are people from all over the world choosing Luno? Were early industry pioneers and have been around since 2013, successfully processed more than a billion dollars in transactions and have happy customers in over 40 countries. People love our easy-to-use products. From local payment methods to customer support in many different languages, we make your Bitcoin experience the best one. Our expert team has worked all over the world for top tech and finance companies such as Google, Amazon, Morgan Stanley and Barclays. Plus were backed by some of the world's top investors. When we say your money is safe, we really mean it. Weve built some of the worlds most sophisticated Bitcoin security systems and have never been compromised. Continue reading >>

How To Buy Cryptocurrency Like Bitcoin In Malaysia

How To Buy Cryptocurrency Like Bitcoin In Malaysia

Now is one of the best times to own Bitcoinbut only if you bought it last year. That doesnt mean youre out of the cryptocurrency gold rush, fortunately. Everything between Dogecoin, Ethereum and NEM are all still an opportunity for users to hedge their bets, though options for Malaysians to buy can be limited. Just keep in mind how volatile these cryptocurrencies usually aremore volatile than Bitcoin even, which relies on its founding ideology to drive more stability. With enough smarts and research, you might also still benefit from buying Bitcoin even today. Fun Fact: Bitcoin was born out of the financial crisis of 2008, which drove demand for currency that is not controlled by a central authority. It aims to fix the problem by capping the maximum number of Bitcoins that can ever be in circulation and the rate new Bitcoins can be produced. So if youre an extreme beginner who is curious about how to own your very own chunk of cryptocurrency, heres where to get them. Before you make any serious purchases, read up about cryptocurrency wallets and how to secure them . Try to stick to officially endorsed wallets, and be careful of malware pretending to be wallets. As a fair warning, weve received reports of Bitcoin owners in Malaysia whose wallets were suspended from transferring into Malaysian bank accounts, lasting approximately a month. Do bear this in mind before you commit your money to any wallets. We think a good rule of thumb is to only buy cryptocurrency with money you can afford to lose. The list below is curated based on platforms that have a substantial presence in Malaysia, either through good reputation, or those who are run by Malaysians, as far as we can find. Luno allows you to trade Ringgit with cryptocurrency directly. This Singaporean app is probably t Continue reading >>

Bitcoin And Other Cryptocurrencies

Bitcoin And Other Cryptocurrencies

QUOTE(Leon be here now @ Jul 9 2017, 04:29 AM) My experience with luno today sucked, slow and expensive I was charged about RM100 transaction fee, I knowingly saw this but did it anyway. is there a way to lower fee and send at slower pace at Luno? Basically deposit RM5000 from Maybank to luno, around 10pm 8.7.17 Bought BTC using RM5000 the fee was 1% fine 11pm Use luno to transfer to Coinomi wallet OMG!!! transaction was fast, about 1min for the first verification, 2-3 more follow in few minutes But the fee was extremely high somewhere around RM100 dont really remember the screen. At the end i only got 0.433350 in my coinomi wallet, which shows RM4761 is this normal? is luno charging or coinomi charging? Then I transfer another 5K from maybank to Luno this time was around 12:20am 9.7.17 reading up on this dynamic fee, they claim they dont make money, i knew i saw the fee was going to be around RM100 when i click send from Luno to coinomi, but i did it anyway, is there any other alternative when sending to coinomi or polonex "Free alternative: Sending to an email address or mobile number is instant and free" this only applies to Luno to Luno right? QUOTE(Leon be here now @ Jul 9 2017, 04:29 AM) My experience with luno today sucked, slow and expensive I was charged about RM100 transaction fee, I knowingly saw this but did it anyway. is there a way to lower fee and send at slower pace at Luno? Basically deposit RM5000 from Maybank to luno, around 10pm 8.7.17 Bought BTC using RM5000 the fee was 1% fine 11pm Use luno to transfer to Coinomi wallet OMG!!! transaction was fast, about 1min for the first verification, 2-3 more follow in few minutes But the fee was extremely high somewhere around RM100 dont really remember the screen. At the end i only got 0.433350 in my coinomi Continue reading >>

Luno Status

Luno Status

Bank deposits and withdrawals in Malaysia Update - We continue to work with Maybank to enable withdrawals and would like to provide a more concrete status update on how this is progressing. 1) We have successfully tested a batch of withdrawals via Maybank with a small, randomly selected test group of customers. 2) We are currently putting in place a timeline for releasing all withdrawals and re-enabling these in the app. 3) We aim to provide full details on this withdrawal process by Wednesday, 28 March 2018. 4) Rest assured, all the funds remain safe with Maybank and everyone will receive their money as soon as possible. Thank you for your continued support and patience so far. Update - While we continue to work with Maybank to re-open our account, and other banks on alternate bank accounts, we have made progress with Maybank on agreeing to process withdrawals for Luno customers. We are currently working through the details on how exactly this will be done, since it involves a large number of withdrawals and amounts. We will provide a detailed schedule around withdrawals to all our customers soon, once we finalise the details with Maybank. Deposits continue to remain closed. Thank you for your continued support and patience so far Update - This week, Bank Negara (BNM) issued a policy document around reporting requirements for digital currency exchanges ( ). This is a new and positive development in our view and Maybank is considering this in light of our account. Luno has been working with BNM to formulate these requirements, and Maybank is aware of this. We hope the reporting requirements provide Maybank with clarity on how we move forward together. We have been in touch with them following this policy release and are also talking to other banks in parallel. Rest ass Continue reading >>

How To Buy Bitcoins In Malaysia

How To Buy Bitcoins In Malaysia

I have been meaning to write a blog post about this for a while now. Few weeks back, Bitcoins price was at all time high (ATH) of $4,979, hitting $5,000 on some exchanges. Today, on September 15, 2017 is a different scenario altogether, price is hovering at $3,000. Thats down by whopping ~$2,000! Disclaimer: This is not an investment advice. And its not a paid review. Today we will be covering a site called Luno , formerly known as BitX Malaysia. I think Lunos user experience and services are quite user friendly, their support of local banks such as Maybank, CIMB and other local banks is a huge benefit too. After you signup at , go to your Wallet section and press on DEPOSIT button on the MYR wallet. *Enter BWSB4 to get RM5 worth of Bitcoin, after you login go to MENU PROMOTIONS ENTER CODE ( see details ). Choose a bank that you will be using to fund your wallet. I will be using Maybank2u in this example. Enter the amount that you want to fund your wallet. On this step, Luno will generate aReference Code for you, which you need to includewhen makinga fund transfer from your bank account. Login to your internet banking account and make a transfer with the same amount that you specified in Step-4. Please make sure to include your reference code in Step-4 in the Recipient reference and Description of transaction fields in Maybank2u when making the payment. After you have madethe payment, you wait until it shows up on your Luno account. Lunos FAQ states that deposits can take up to 24hours . However, it was pretty fast for me, it took less than 15minutes to appear on my Luno account. Once your account is loaded, click on the Exchange link at the side menu. This is where you will be buying the Bitcoins from. Exchange is basically a place (i.e marketplace) for users to buy/s Continue reading >>

7 Asian Banks Investigating Bitcoin And Blockchain Tech

7 Asian Banks Investigating Bitcoin And Blockchain Tech

7 Asian Banks Investigating Bitcoin and Blockchain Tech Feb 16, 2016 at 10:30 UTC|UpdatedFeb 17, 2016 at 15:46 UTC UPDATE(17th February 15:40 GMT):Added detail on SBI Group's recent investment announcements. Until recently,there was a noticeable lackofinterest in bitcoinand the blockchain among thefinancial institutions of Asia. In fact, banks there were more likely to be issuing warnings about digital currenciesthan getting involved inany related activity. It wasthe fall of Mt Gox in Japan and the Chinese central bank's crackdown on bitcoin exchanges, events that both took placein 2014, that resulted in earlybarriersamong financial institutionsin those nations. However, the recent upsurge in the popularity of blockchain technology in the global finance sector seems to have at least somewhat laid thoseconcerns to rest. Now, the region'sbanking sector is showingthe samegrowingenthusiasm for the tech's disruptive potential in bankingthat can be seenin Europe and North America. Evidence ofthis sea change can be seen in the number of large financial institutions in China, Japan and Korea thathave recently moved to launch or supportinitiatives involving blockchain and digital currency, anddevelopproofs of conceptaround forward-looking applications of the technology. In this article, we look at which banks are engaging with the technology in the region. Japan's largestbank develops its own cryptocurrency At the start of this month, Japan'sBank of Tokyo-Mitsubishi UFJ (MUFG) revealed that it has developed its own digital currency nicknamed "MUFG coin" as part of its research into blockchain and distributed ledger technology. The initiative wasset upto replicatethe peer-to-peer (P2P) exchange and mobile-wallet functionality thatbitcoin provides, but without relying on itsdistr Continue reading >>

Maybank2u.com - Maybank Visa Debit Picture Card

Maybank2u.com - Maybank Visa Debit Picture Card

Home > Cards > Debit Cards > Maybank Visa Debit Picture Card Replacement fee: One time replacement fee of RM26.50 (inclusive of GST @ 6%) for each Picture Card request The Maybank Debit Picture card is open to all Maybank Debit Card customers which is Maybank Visa Debit including Co Brands, Maybank MasterCard Debit and Maybank Bankard. Maybank Debit card customers existing card will be converted or replaced to Picture Card and will carry VISA brand. A replacement and processing of RM26.50 (inclusive of GST @ 6%) will be charged for One Picture Card and will be debited from the customer's Current Savings Account (CASA). The Maybank Visa Debit Picture Card carries the same feature and benefit of Maybank Visa Debit which lets you Kindly take note that effective 9 May 2015, all Visa and MasterCard Debit Cardholders will receive a SMS (Short Message Service) for any retail purchases of RM500 and above charged to their Visa or MasterCard Debit for signature base transactions only. The SMS alert is not applicable for Pin base retail transaction. This is in-line with the mandatory guideline issued by Bank Negara Malaysia and the alert via SMS will be applicable to the following transactions: Purchase transaction via Point of Sales (POS) Terminals Shop at over millions of Visa accepted outlets worldwide. Use it as your ATM card to withdraw cash locally and overseas. For Overseas withdrawal & purchases, please activate your Overseas flag via Maybank2u or ATM. Set your own purchase limit up to RM5,000. No income requirement for application ,no finance and late charges or annual fees. Track and view your transactions real-time via Maybank2u Existing Maybank saving/current account holders who has a Visa or MasterCard Debit card aged 18 and above. Continue reading >>

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