Hello Grasshoppa,

There is a quote that says “Never Say Never”. Over the years, I have written a number of posts on how I will never invest in cryptocurrency & my stand on cryptocurrency. But there was an online platform that I wanted to make a purchase from and it didn’t accept any form of payment besides cryptocurrency, which has led me to invest in cryptocurrencies.

Previously that online platform accepted PayPal & credit card payments but with their recent changes, they now only accept Bitcoin as a form of payment. To be honest, I was reluctant to try it out at first but since I needed to make the purchase, I had no choice but to invest in Bitcoin. There is another problem that I faced when I decided to invest in Bitcoin which is which app I should use. The platform that I wanted to make my purchase from only allows me to pay via Bitcoin or USDC by using Coinbase, but Coinbase is not recognised by the Securities Commission of Malaysia.

In order for me to invest in Bitcoin via Coinbase, I have to have a cryptocurrency wallet via a Malaysian recognised cryptocurrency platform. Luno was my only choice for me to invest in since there is no other cryptocurrency platform to my knowledge. I registered a Luno account in early January 2021 when they were doing some promos via Shopee but I did not invest then. To try out my first investment, I decided to invest RM10 in Bitcoin & transfer that to my Coinbase account. My first attempt failed as they are charging around RM30 to transfer from Luno to Coinbase.

Next, I decided to transfer more money into Luno so I could meet their minimum requirement for the transfer fee. I have transferred a total of RM610 into my Luno wallet & the investment was split between Bitcoin & Ripple. Luno has 4 options for cryptocurrency that you can invest from which are Bitcoin, Ripple, Litecoin & Ethereum. I had heard of those 4 cryptocurrencies but I have no knowledge of any one of them.

So far I’ve seen some profit even though I have invested for only a short amount of time but I still have not much of an idea of how things work. I have not transferred any of my funds to Coinbase yet at the moment as I personally think it is too expensive to pay RM30 per transfer. Since my initial investment in cryptocurrency, I have no plans to purchase more or sell it. I will be staying on with my RM610 investment to monitor the situation before I decide to invest more or sell it off. In terms of profit, I have made some money from Ripple & lost money from Bitcoin. I do monitor the trends from time to time but there is not much indication on when it will be up or down. The movement is just too fast for me to catch.

If you are not investing in cryptocurrencies yet & you wish to invest, you can use my promo code: DNKPBZ to earn RM25 worth of Bitcoin. All you have to do is to deposit & purchase Bitcoin worth RM250 & we will each earn RM25 worth of Bitcoin.

OSS!