Here’s a detailed step-by-step guide on how to buy USDC in Malaysia using Binance P2P.
- Go to Binance.com (register an account first if you’re new. Get 5% fee rebate from every trade when you register via Fiholic!)
- Go to Buy Crypto > P2P Trading
- Choose USDT
- Choose MYR in fiat (should be automatically selected already)
- Enter amount you wish to purchase. This will filter the sellers who are able to sell at the quantity you want, as some sellers impose high limit to trade)
- For payment type, usually I select Bank Transfer as this is most widely accepted
- Select any traders. Usually those who are offline and not doing trading will put “offline” in their username. Don’t trade with them as your transaction will be slow.
- Check the seller’s terms and conditions. Read the instructions carefully. Then proceed with the amount you want to buy. Make sure to follow the seller’s instructions.
- On the next page, keep the page open then perform the bank transfer accordingly.
- Select complete transaction once you have transferred the funds.
- Wait for seller to transfer USDT
- Once you have USDT, go to Trade > Convert
- Select USDC. Convert your USDT.
- Et voila~ Now you have USDC in your Binance account!
And that, ladies and gentleman, is how you buy USDC from Malaysia easily. Although there is an extra step involved and you’ll need to convert from USDT to USDC, the fees involved are very minimal. Buying from a fiat onramp using local currency also saves you on foreign exchange fees compared to if you were to use credit or debit cards.