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Learn More about buying CHZ in Malaysia
How to buy Chiliz in Malaysia
Is CHZ a good investment in Malaysia?
CHZ coins were released to the market in 2018. But it didn’t have any price until July 2019, when it started to become more popular among sports fans. The initial price of CHZ was $0.02, and it didn’t change for one year. Then it had a price jump in 2021 and suddenly reached its highest value of $0.89. The rest of the year passed with an average price of $0.50. Like most cryptocurrencies, 2022 wasn’t that much great for CHZ owners. Its price fluctuated a lot, but never reached that high to set a record. It ended the year with a price of $0.10.
Cryptocurrency investors often want to know what the cryptocurrency's future holds. But the future is unpredictable, especially in the volatile world of cryptocurrencies. However, to make it easier to decide about buying a coin, analysts and crypto experts analyze the past and current situation of the crypto market and give price predictions, which can be useful but should not be the only factor you pick to decide on buying crypto. They think the CHZ price might finally get higher than $1 by 2028 and would rise as high as $3 by 2030.
What is Chiliz ?
Chiliz is the world's first cryptocurrency dedicated to sports fans. Socios is the platform that works with this cryptocurrency. Sports clubs can create Fan Tokens on this platform, and their fans can buy tokens with their favorite sports club's logo to show their support. They also can trade the tokens with others. The Fan Tokens show interest in a particular sports team, especially football clubs. The platform was launched in December 2019. The first sports partner to this platform was the Italian soccer team of Turin.
Is Chiliz legal to buy in Malaysia
Yes, cryptocurrency is legal to buy, sell and trade in Malaysia. According to an issued guideline
on digital currencies by Malaysia’s central bank, Bank Negara Malaysia (BNM), has stated that
it does not ban cryptocurrency transactions and has issued guidelines for individuals and
businesses to follow when using cryptocurrencies. These guidelines are intended to help ensure
the stability of Malaysia's financial system and to protect consumers from potential risks.
Is Chiliz taxed in Malaysia
Yes and no, there is no specific tax law in Malaysia that governs the taxation of cryptocurrencies
as of 12 February of 2023. However, the Inland Revenue Board of Malaysia (IRBM) has issued
Guidelines on Tax Treatment of Digital Currency Transactions indicating that cryptocurrencies
may be subject to tax under existing laws on certain conditions. According to the mentioned
guideline above, The Malaysian Inland Revenue Board (IRBM) has stated that cryptocurrency
transactions are exempt from tax, unless they are conducted regularly or repetitively. This
means that if you engage in cryptocurrency trading on a frequent basis, you will be required to
pay taxes on your cryptocurrency earnings. For businesses involved in cryptocurrency, any
profits generated from these transactions will be subject to income tax, regardless of whether
the profits are received in cryptocurrency or fiat currency. On the other hand, according to the
above-mentioned document, since cryptocurrencies are not viewed as capital assets nor a legal
tender by Malaysian authorities, crypto transactions carried out by individual and occasional
investors are not taxed.
It is worth noting that tax laws and regulations can change over time, so we would recommend
checking with the IRBM or consulting with a tax professional for the most up-to-date information.
After you've bought Chiliz in Malaysia
CHZ is used on the Socios platform by sports fans. They usually use this token to purchase NFTs, which are the particular token with their famous sports team logo. They can play a role in the decisions of their favorite team by voting on different polls. The more sports team participate in this platform; the higher the value of its digital asset may be. Furthermore, you should transfer your coins to your account in the Socios platform to be able to use them for the mentioned operations.
The other option you have after buying CHZ is to keep it as an investment, which is a risky job. Because no one can guarantee that Chiliz is a good investment or may have a higher value in the future. Therefore, you should check different factors, read the analyses about this coin, then decide on buying it. Furthermore, as a beginner, it is always recommended to start with a limited amount of money and have an exit point for your investment to reduce the risk of loss.
Who can buy Chiliz in Malaysia
In Malaysia, there are no restrictions on who can buy cryptocurrency. The best way to purchase
cryptocurrency in Malaysia depends on individual circumstances and preferences. The most
widely used method is through a digital asset exchange platform like ours. Our platform offers a
secure and reliable option for individuals looking to buy cryptocurrency in Malaysia. Our
exchange adheres to the law and provides a variety of payment options, including credit card,
debit card, bank transfer, PayPal, Apple Pay, and Google Pay, without incurring exchange
transaction fees. On our platform, individuals have the capability to buy, sell, and trade
cryptocurrency tokens. As with any investment, it's important to thoroughly research and
understand the market before investing in cryptocurrency. It's also a good idea to consult with a
financial advisor or expert in the field to help you make informed decisions.
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Frequently asked questions
You can find several exchanges that accept CHZ tokens. However, you should know that most exchanges receive an extra expense as the processing fee on their platform. If you want to find a more cost-effective exchange, you can buy CHZ from the Blocktrade exchange with zero processing fee.
The use of cryptocurrency as a form of payment in Malaysia is not widely accepted. While some
businesses may accept cryptocurrency as payment, it is not yet a common method of payment
in the country. The central bank, Bank Negara Malaysia (BNM), has issued guidelines for
individuals and businesses to follow when using digital currencies, including cryptocurrencies,
but has not yet issued any specific regulations regarding their use as a form of payment.
It's important to keep in mind that the use of cryptocurrency as a form of payment is still in its
early stages and may not be accepted by all businesses. Before making a purchase with
cryptocurrency, it's a good idea to check with the merchant to see if they accept it as a form of
Yes, you can cash out your cryptocurrency assets in Malaysia. You have the option to convert
your cryptocurrency holdings into Euros through our digital asset exchange platform. Once the
sale is complete, you may withdraw the funds to your bank account or use them for other
transactions as per your requirement.
Alexandre Dreyfus is the founder and CEO of Chiliz. He has 20 years of experience in developing different web-based companies.
The adoption of cryptocurrency and the number of people owning crypto assets can vary greatly
and is subject to change. Additionally, the ownership of cryptocurrency is often not publicly
disclosed, making it difficult to determine the exact number of people who own these assets.
However, it is estimated that over 1 million people, 3.1% of Malaysia’s total population, currently
CHZ is a cryptocurrency that lets its holders purchase NFT tokens that are created by their favorite sports team.