As a Malaysian investor looking to buy USDT, choosing the right crypto platform can significantly impact your costs and safety. In this post, we compare eight popular platforms — Nexo, Bitget, Hata, Bybit, Luno, Huobi, and Binance — based on their fees and regulatory status in Malaysia. We’ll use a simple example: buying and withdrawing 1,000 USDT.
🔍 Fee Comparison: Buying & Withdrawing 1,000 USDT
| Platform | Trading Fee (MYR) | Withdrawal Fee (MYR) | Total Cost (MYR) | Regulatory Status |
|---|---|---|---|---|
| Bitget | RM 4.80 | RM 1.44 | RM 6.24 | ❌ Not SC-registered |
| Bybit | RM 4.80 | RM 1.44 | RM 6.24 | ❌ Banned by SC |
| Binance | RM 4.80 | RM 1.44 | RM 6.24 | ❌ Not SC-registered |
| Huobi | RM 9.60 | RM 1.44 | RM 11.04 | ❌ Banned by SC |
| Hata | RM 12.00 | RM 0.80 | RM 12.80 | ✅ SC-registered |
| Luno | RM 12.00 | RM 14.40 | RM 26.40 | ✅ SC-registered |
| Nexo | RM 9.60 | RM 48.00 | RM 57.60 | ❌ Not SC-registered |
💡 Assumptions: 1 USDT = RM 4.80; TRC-20 withdrawal fees ≈ 0.3 USDT; trading fees calculated at 0.10–0.25% depending on platform.
🛡️ Regulatory Safety in Malaysia
| Platform | SC Malaysia Registration | Regulatory Status |
|---|---|---|
| Hata | ✅ Yes | Fully compliant |
| Luno | ✅ Yes | Fully compliant |
| Nexo | ❌ No | Not SC-registered |
| Bitget | ❌ No | On SC Alert List |
| Bybit | ❌ No | Banned by SC |
| Huobi | ❌ No | Banned by SC |
| Binance | ❌ No | Not SC-registered |
✅ Final Verdict: Which Platform Is Best?
- Cheapest Overall: Bitget, Bybit, and Binance all tie at RM 6.24.
- Safest & Regulated in Malaysia: Hata is the most cost-effective SC-registered platform at RM 12.80.
- Most Expensive: Nexo, due to its high withdrawal fee (10 USDT ≈ RM 48).
⚠️ Important Note: While Bitget, Bybit, and Binance offer the lowest fees, they are not registered with the Securities Commission Malaysia, and Bybit and Huobi are banned from operating in Malaysia. Using these platforms may expose you to regulatory and legal risks.
📝 Conclusion
For Malaysian investors, Hata remains the best balance of cost-efficiency and regulatory safety. While some platforms offer slightly lower fees, they come with significant legal and compliance risks. If you value peace of mind and compliance with local laws, Hata is your best bet.
Always prioritize safety and compliance over marginal fee savings.