How to Buy Crypto with CIMB Clicks

Can I Buy Crypto with CIMB Bank?

Yes, while CIMB itself does not offer digital currencies, it allows the transfer of Malaysian Ringgit to authorized cryptocurrency exchanges in Malaysia. Selecting a platform that holds registration with Bank Negara Malaysia (BNM) as an approved digital asset exchange is essential for maintaining regulatory compliance. You should choose one that accepts MYR deposits to avoid high currency conversion fees.

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How to Buy Crypto with CIMB Clicks

‍CIMB customers can purchase cryptocurrencies through licensed digital asset exchanges. Bybit is the most suitable choice because it complies with BNM regulations and offers an extensive selection of over 1,100 cryptocurrencies for both spot and futures trading with up to 100x leverage. This platform supports MYR deposits through several methods including local bank transfers, credit or debit cards, and e-wallets such as Touch 'n Go.

Follow this simple guide to use Bybit with CIMB Clicks:

1. Account Registration: Navigate to the Bybit platform and register for a new account.
2. CIMB Clicks Deposit: Once your account is confirmed, deposit MYR funds using CIMB Clicks online banking or debit card facilities.
3. Cryptocurrency Selection: Browse the trading platform to pick from a diverse selection of cryptocurrencies.‍
4. Transaction Execution: Specify your investment amount in MYR, choose your desired cryptocurrency, and finalize your purchase.

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What are the Fees?

‍CIMB customers converting MYR to cryptocurrencies need to be aware of various costs involved. These include charges for deposits, transactions, and withdrawals. Fee structures differ from one exchange to another, with transaction fees typically ranging from 0.1% to 0.5%.

For CIMB users, Bybit offers an affordable solution with low transaction fees starting at just 0.1% for spot trading, plus a maker fee of 0.02%, and a taker fee of 0.055% for derivatives trading. Bybit also provides free MYR deposit options through several payment options including bank transfers.

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Is CIMB Clicks Crypto Friendly?

CIMB adopts a progressive stance towards cryptocurrency investments. It permits its users to execute fund transfers through various methods, such as debit cards and online banking, for use on exchanges. This approach is important for ensuring platforms comply with Malaysian financial regulations, under the oversight of Bank Negara Malaysia (BNM).

This policy enables CIMB customers to invest in digital assets within a secure and regulated environment. By adhering to BNM regulations, the bank provides a reliable avenue for investors looking to expand their portfolios with cryptocurrencies.

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Bottom Line

In conclusion, while CIMB does not directly support crypto trading, it facilitates secure and compliant investments by allowing transfers to registered exchanges like Bybit. Bybit supports over 1,100 cryptocurrencies and adheres to strict regulatory standards, offering services in Malay to cater to local investors. With competitive fees and multiple MYR deposit options, Bybit paired with CIMB makes a strong choice for Malaysian users.