The cryptocurrency landscape in Malaysia is evolving rapidly, and Hata Malaysia has entered the scene as a significant player. 

Officially licensed by the Securities Commission Malaysia (SC), Hata stands out as the country’s fifth regulated Digital Asset Exchange (DAX) and a pioneer in obtaining both a full DAX license and a Digital Broker license. 

In this blog, we’ll explore what makes Hata a promising option for cryptocurrency enthusiasts in Malaysia. 

What is Hata?

Hata Malaysia is a cryptocurrency exchange platform, officially recognized as the country’s fifth regulated Digital Asset Exchange (DAX) by the Securities Commission Malaysia (SC). 

Hata has also obtained a Money Broker license from the Labuan Financial Services Authority.

Established by Darien Ng, KK Chong, and David Low—who previously served as Luno APAC’s general manager—Hata aims to provide Malaysians with a secure and cost-effective platform to trade digital assets. 

Initial Impressions and Onboarding Experience

Signing Up

The registration process on Hata is straightforward. 

New users are required to provide basic details and complete identity verification (KYC) to comply with the Securities Commission Malaysia’s regulations. 

This includes uploading identification documents and proof of address. 

Users have reported that the verification process is relatively quick, typically taking less than 24 hours, which is a significant advantage compared to other exchanges​.

Interface and Design

Hata’s platform is sleek, intuitive, and designed to meet the needs of modern traders. 

The dashboard provides clear navigation, making it easy to access trading options, deposit funds, or check portfolio performance. 

For those new to crypto trading, the platform simplifies complex functions without compromising on advanced tools for seasoned traders​.

Deposits and Payments

Hata supports instant deposits and withdrawals through local bank transfers, and it also allows funding via popular e-wallets like GrabPay and Boost. 

First Impressions

One of the standout features during onboarding is Hata’s Instant Buy/Sell option. 

This feature is perfect for beginners who prefer a simple way to buy or sell cryptocurrencies without diving into the complexities of market orders. 

However, advanced traders might appreciate the zero-maker-fee trading and discounted taker fees, which scale with trading volume​

Investment Options with Hata Malaysia

Available Cryptocurrencies

Currently, users can invest in 19 popular digital assets as per the list:

1. Bitcoin (BTC) – Bitcoin SegWit
2. Ethereum (ETH) – Ethereum (ERC20)
3. Solana (SOL) – Solana
4. Litecoin (LTC) – Litecoin
5. Ripple (XRP) – XRP Ledger
6. Bitcoin Cash (BCH) – Bitcoin Cash (CashAddr)
7. Cardano (ADA) – Cardano
8. Polkadot (DOT) – Polkadot
9. Polygon (POL) – Polygon
10. Stellar (XLM) – Stellar
11. Chainlink (LINK) – Ethereum (ERC20), BNB Smart Chain (BEP20)
12. Avalanche (AVAX) – Avalanche (C-Chain)
13. Cosmos (ATOM) – Cosmos
14. Uniswap (UNI) – Ethereum (ERC20), BNB Smart Chain (BEP20)
15. Worldcoin (WLD) – Ethereum (ERC20)
16. Curve DAO Token (CRV) – Ethereum (ERC20)
17. Aave (AAVE) – Ethereum (ERC20)
18. Synthetix (SNX) – Ethereum (ERC20)
19. Maker (MKR) – Ethereum (ERC20)

Local Custody Solutions

One of Hata’s unique features is its local custody of digital assets. 

Unlike many exchanges that store user funds overseas, Hata ensures that all assets are securely held in Malaysia through proprietary technology, in compliance with the Securities Commission Malaysia. 

This reassures users that their investments are safeguarded under local regulations​

Affiliate Program as an Indirect Investment Option

Hata offers a revenue-sharing affiliate program where users earn 30% of trading fees generated by their referrals. 

This creates a potential side income opportunity without directly trading, adding an unconventional investment option to the platform’s offerings​

Pros and Cons of Using Hata Malaysia

Hata Malaysia stands out as a regulated and user-focused cryptocurrency exchange tailored for Malaysians. 

While it offers several advantages, there are also areas where potential users should exercise caution. Here’s a breakdown of the pros and cons of using Hata Malaysia.

Pros

1. Regulated and Secure
   • Fully licensed by the Securities Commission Malaysia (SC), ensuring compliance with local regulations and offering peace of mind for users​
   • Digital assets are stored locally under SC-compliant custody solutions, adding a layer of security and trust​
2. Low Fees
   • No maker fees, encouraging liquidity provision on the platform.
   • Competitive taker fees starting at 0.4% and reducing based on trading volume, offering cost savings for active traders​
3. Extensive Cryptocurrency Options
   • Offers a diverse range of cryptocurrencies, providing more investment opportunities compared to some competitors​
4. User-Friendly Features
   • Simplified Instant Buy/Sell option with a minimal 1% fee, ideal for beginners​
   • Intuitive platform design, making navigation and trading straightforward for all user levels.
5. Innovative Affiliate Program
   • Revenue-sharing model that provides 30% of trading fees from referrals, enabling users to earn passive income​
6. Local Payment Options
   • Supports instant deposits and withdrawals via local bank transfers and e-wallets like GrabPay and Boost, offering convenience for Malaysian users​
7. Recurring Buy Feature for Dollar-Cost Averaging
   Hata’s Recurring Buy feature allows users to set up automatic purchases of selected cryptocurrencies at regular intervals.

Cons

1. New Player in the Market
   • As a relatively new exchange, Hata lacks the long-standing reputation and global reach of competitors like Binance or Luno​
2. Limited Advanced Features
   • While excellent for beginners, it may not yet offer advanced trading tools or features (e.g., futures or staking) that appeal to professional traders​
3. Trading Volume
   • As a newer platform, liquidity and trading volumes might be lower compared to established exchanges, potentially impacting execution prices for large trades​
4. Fees on Instant Buy/Sell
   • Though competitive, the 1% fee on Instant Buy/Sell may still be higher compared to self-executed trades on the platform​

Read my article on Luno Malaysia here!

Fees and Limits Summary

Category	Method	Fee	Notes
Deposit	Bank Transfer	None	No limits specified.
	Online Bank Transfer (FPX) – Individual	Convenience fee applies	RM2.00 – RM250,000.00 per transaction.
	Online Bank Transfer (FPX) – Corporate	Convenience fee applies	RM2.00 – RM250,000.00 per transaction.
	eWallet	Convenience fee applies	RM2.00 – RM1,000.00 per transaction.
Withdrawal	Instant Transfer	Fees apply	Minimum withdrawal: RM10.00. Only to local MYR bank accounts.
Instant Buy/Sell	Hata Wallet (Buy/Sell Crypto)	1%	No limits on transactions. Individual limits: RM30.00 – RM50,000.00 per transaction.
	Crypto/Fiat Pairs (e.g., BTC/MYR, ETH/MYR)	Based on market rates	Limits vary per pair, e.g., BTC: 0.00006844-0.22815995 (RM30-RM50,000).
Trading Fees	Maker (All Exchange Pairs)	0.00%	Applies across all trading tiers.
	Taker (All Exchange Pairs)	0.10% – 0.40%	Based on 30-day trading volume; lower rates for higher tiers.
Send Crypto	Network-based	Varies	Dynamic fee based on network traffic; e.g., BTC: 0.0001 fee, minimum 0.0002 withdrawal.
Receive Crypto	Network-based	Free	Minimum deposit amounts apply, e.g., BTC: 0.0002, ETH: 0.0034. Deposits below minimum are not credited.
Verification Limits	Normal Account	RM250,000 daily withdrawal	No deposit limits.
	VIP Account	Unlimited	Unlimited deposits and withdrawals.

Read more about Hata’s fees here!

Who is Hata Malaysia Best Suited For?

Hata Malaysia caters to a diverse range of cryptocurrency investors, making it a compelling choice for Malaysians looking for an affordable, secure, and locally focused platform. 

Here’s a breakdown of who would benefit most from using Hata:

1. Beginner Cryptocurrency Traders

Hata’s user-friendly interface and Instant Buy/Sell feature make it ideal for beginners who are just starting to explore the world of digital assets. 

The ability to set up recurring investment plans simplifies the process for users who prefer a “set-it-and-forget-it” approach to dollar-cost averaging (DCA), a popular strategy for managing investment risk.

With a straightforward onboarding process, clear navigation, and competitive fees, Hata simplifies the trading experience for new users.

2. Cost-Conscious Investors

Hata offers 0% maker fees and low taker fees (as low as 0.1% for high-volume traders), making it one of the most affordable options in the market. 

Investors who want to minimize trading costs without compromising on security will find Hata appealing.

3. Malaysians Looking for Localized Solutions

Hata is deeply integrated into the local financial ecosystem, offering instant deposits and withdrawals via Malaysian banks and e-wallets like GrabPay and Boost. 

Additionally, its focus on local custody of digital assets ensures compliance with Malaysian regulations and provides extra security.

4. Affiliate Marketers and Passive Income Seekers

With its 30% revenue-sharing affiliate program, Hata provides an opportunity for users to earn passive income by referring others to the platform. 

This feature makes Hata attractive for individuals looking to monetize their network or expand their income streams.

5. Advanced Traders Seeking Flexibility

Hata’s spot trading platform, with advanced order types and discounts for high-volume trading, is well-suited for experienced traders. 

While it doesn’t yet offer complex derivatives like futures, its affordable fee structure and growing liquidity are advantages for frequent traders.

Who Might Look Elsewhere?

• Advanced Traders Needing Derivatives or Staking: Users seeking advanced features like futures trading, staking, or DeFi integrations might find other global exchanges more suitable.
• Global Users: Hata primarily caters to Malaysians, so international users or those seeking global liquidity might prefer platforms with a broader reach.

To check out other alternative platforms to invest in cryptocurrency, check out my article on:

• Luno Malaysia
• Tokenize Malaysia

Conclusion

Hata Malaysia is a promising addition to the local cryptocurrency landscape, offering an affordable, secure, and user-friendly platform tailored specifically for Malaysians.  

Hata Malaysia stands out as an excellent choice for Malaysian cryptocurrency enthusiasts, combining affordability, local integration, and regulatory compliance to create a platform that caters to the needs of the local market. 

Have you tried Hata? Or are you thinking about starting? I’d love to hear about your experiences and any questions you may have! 

Drop a comment below to share your thoughts, or feel free to reach out directly to me via email [email protected] 

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