Crypto payments are not a new thing. They have been popular for years, especially among those who play at online casinos. A crypto deposit, such as a Bitcoin transaction, offers unsurpassed anonymity and a ton of other benefits. This article will tell you why Bitcoin is the perfect currency for players who enjoy casino nights in Malaysia.
The Legal Side of Things
Firstly, you need to know that digital assets in Malaysia are regulated as “securities” under the 2019 Prescription Order. This makes all cryptocurrencies legal to buy, sell, and trade. Bitcoin is just the most popular of them, hence it is accepted by most crypto casino sites operating in the country.
Yet, the Bank Negara Malaysia (BNM) does not recognize crypto as legal tender. This means that even if you find a licensed, legal, and trustworthy casino site that accepts it, it isn’t “money” in the legal sense and carries no deposit protection.
Secondly, gambling in Malaysia is generally considered illegal, regardless of the payment method. This is due to the local Muslim population, which is forbidden to gamble by Sharia rules. Only non-Muslim and foreign users can play at licensed offshore operators. If you plan to do so, the best crypto casinos in Malaysia are highly recommended, and can be found after you visit Kasinodalamtalianterbaik.com .
Ever-Increasing Popularity of Bitcoin in the 21st Century
There are several factors that have contributed to the ever-increasing popularity of Bitcoin in Malaysia. Without a doubt, it contributed a lot to the introduction of crypto gambling sites for Malaysia, which are almost always operated by international companies. Here are more details about the relatively short history of Bitcoin in this country and why its popularity keeps growing.
According to 2023 data from a market intelligence platform, approximately 1.28 million people in Malaysia own cryptocurrency, which has nearly doubled in just three years (~650,000 in 2020).
In a 2022 survey by Luno Malaysia, 47% of Malaysian crypto investors allocated the largest portion of their portfolio to Bitcoin.
The Securities Commission (SC) maintains a very strict licensing regime. As of 2024, there are only four fully licensed Digital Asset Exchanges (DAX) allowed to operate: Luno Malaysia, MX Global, SINEGY, and Tokenize Malaysia.
In 2023, the SC approved Malaysia's first Shariah-compliant crypto fund, the Halogen Shariah Bitcoin Fund.
Additionally, the COVID-19 pandemic and subsequent economic uncertainties prompted many Malaysians to look for alternative investments against inflation. Bitcoin's popularity is expected to continue growing. It is even safe to say that it is closely tied to the cryptocurrency's price performance. For instance, the number of users in Malaysia nearly doubled in just three years, a period that saw significant BTC price increases.
The Undisputable Advantages of Bitcoin
What makes Bitcoin such a perfect choice for online casino payments in Malaysia? Let’s find the short answers to this question in the list below.
An unsurpassed independence, as no government or bank controls Bitcoin transactions. All transactions are done in a decentralized network.
Bitcoin users have full ownership and custody of their funds, as they control the private key required for a BTC transaction.
Crypto payments became very popular in the 21st century, which corresponds with the rise of smart technology in almost every industrial domain.
Fast and immediate payments from international users, as crypto offers borderless transactions. No bank approval is required, and you can pay 24/7 with Bitcoin.
Bitcoin transactions are irreversible and cannot be blocked or frozen by any central authority or fraudulent activity.
Tips to Find the Best Bitcoin Casino in Malaysia
As Bitcoin is not accepted at land-based casinos in Malaysia, your only choice is to play at crypto casino sites that accept BTC deposits and withdrawals. However, how to find the best crypto casino in Malaysia that accepts Bitcoin? There are a few important steps to be considered, so here are more tips you need to know:
Read multiple online casino reviews from different sources and compare their pros and cons.
Always visit a casino and confirm that it is licensed by a reputable organization, such as the MGA .
Explore the cashier in advance and see if the crypto casino accepts Bitcoin payments.
Read the casino’s full banking policy and focus on everything related to BTC payments.
Find out if a BTC deposit is eligible for claiming the casino welcome bonus.
The best crypto casino in Malaysia offers games from popular and trusted software providers.
Check the promotions page and see if there are any additional BTC-specific promotions.
A top operator that accepts Bitcoin offers comprehensive customer support and an FAQ section.
Once you select the top casinos that offer Bitcoin payments, compare their mobile apps.
Look for additional casino reviews and user feedback on blog posts, forums, and social media.
Conclusion and Overview
Overall, choosing the best site might not be an easy task because, nowadays, there are many nice Bitcoin casinos. Always consider your expectations and your safety. Of course, it is also important to play responsibly, even if you do it with Bitcoin or for free. Now you know why it is the perfect currency for playing at online casinos in Malaysia.
