Buy Crypto with CIMB Clicks

Summary: CIMB Bank does not provide integrated banking services for clients to directly transact digital currencies through its online banking platform. Thus, investors need to register with a crypto exchange regulated by Bank Negara Malaysia, allowing MYR transfers for cryptocurrency purchases.

From an exhaustive evaluation of over 20 authorized exchanges, Bybit stands out as our top suggestion. Bybit is among the safest trading platforms in Malaysia, offering quick and economical MYR deposits from CIMB Bank accounts or cards to trade a wide variety of digital assets with industry-leading fees and liquidity.

Can I Buy Crypto with CIMB Clicks?

Yes, investors can purchase Bitcoin, Ethereum, stablecoins, and many other digital currencies through CIMB Clicks. Transactions can be conducted in Malaysian Ringgit (MYR) straight from your CIMB Bank account or CIMB Debit or Credit Card, directed towards a regulated Malaysian cryptocurrency exchange. Aspiring crypto investors are required to sign up with a legally endorsed digital currency exchange, which operates under the rules of Bank Negara Malaysia or a comparable monetary entity, adhering to crucial regulatory measures.

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How to Buy Bitcoin and Crypto with CIMB

The most secure method to invest in digital currencies like Bitcoin through CIMB is by using a regulated cryptocurrency exchange. One such platform recognized globally for its robust security and reliability is Bybit, which caters to a broad spectrum of cryptocurrencies. Bybit provides a variety of MYR deposit options from CIMB Clicks, including Bank Transfer, Credit Card, Debit Card, among others.

Here's a straightforward guide to aid you:

1. First, visit Bybit and set up your account. 
2. Next, click on the 'Buy Crypto' button in the navigation menu. 
3. Choose 'MYR' as your currency and select your preferred payment method (e.g., Bank Transfer) to move funds from CIMB Bank. 
4. After a successful deposit, use the search tool to find and buy your chosen crypto asset.

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What are the Fees?

The fees linked to purchasing Bitcoin and other cryptocurrencies through a CIMB Bank account can differ based on the selected cryptocurrency exchange. Key costs to bear in mind encompass deposit fees, withdrawal fees, spread rates, and trading charges.

We recommend Bybit as the most economical option for CIMB Bank clients, as it provides free MYR deposits and competitive trading fees. The main cost when investing in digital assets on Bybit is a trading fee, generally less than 0.1% per transaction. This positions it as a more budget-friendly choice compared to other exchanges like Luno, known for levying charges substantially higher, often exceeding 1% per transaction.

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Is CIMB Clicks Crypto-Friendly?

CIMB Clicks is committed to back its customers' ventures into cryptocurrencies by allowing transactions with authorized external trading platforms that comply with the regulations outlined by Bank Negara Malaysia (BNM). This stance enables CIMB Bank's customers to make MYR transfers from their accounts to platforms adhering to national standards set to prevent financial misconduct, like fraud and money laundering.

Therefore, when engaging with these compliant platforms, CIMB Bank's clients can confidently delve into cryptocurrency investments, assured that their activities are not just safe, but also completely in line with all mandatory legal stipulations.

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Bottom Line

In conclusion, buying cryptocurrency using CIMB Clicks is a convenient and safe process for Malaysian investors. By leveraging platforms such as Bybit that offer a seamless integration with CIMB Bank, customers can easily transact in their local currency, MYR, with minimal fees. 

The bank’s supportive stance on cryptocurrency transactions aligns with national regulations, providing an additional layer of assurance for investors venturing into digital assets. Through its cooperation with compliant platforms, CIMB remains a strong ally for its clients, bolstering their investment efforts in the fast-evolving crypto space.