We are really glad to announce that we have resumed both Deposits and Withdrawals for Malaysian Ringgit (MYR).
Coinhako prioritizes providing our users with the best possible Cryptocurrency trading experience.
During the recent MYR transaction hiatus, we were busy working on a solution to enable a larger trading volume for our users. Users trading MYR may now trade for Cryptocurrencies with lesser restrictions than before.
MYR Trading Back to Normal
You will now be able to utilize your MYR wallet as before.
1) Deposit Process
Step 1: Select ‘Deposit MYR’ in your Dashboard
Step 2: Select ‘Deposit via local inter-bank transfer’ to key in the details of the bank account you wish to withdraw your money to
Step 3: You will now be able to see the account details for you to make your transaction. Do not forget about your Unique Deposit Code which will be reflected just above the bank account details, on the same page. The unique deposit code would prevent any delays in processing your deposits.
2) Withdrawal Process
Step 1: Select ‘Withdraw MYR’ in your Dashboard
Step 2: Select ‘Withdraw to bank account’ to key in the details of the bank account you wish to withdraw your money to
If you have not entered a bank account
Step 3: You will be prompted to add details of your bank account. Select ‘Add Bank Account’
Step 4: Select the country of bank
Step 5: Fill in the details of your Bank Account accordingly.
After Bank Account Details have been keyed in
Step 6: Choose the bank account which you wish to withdraw your funds to
Step 7: You will be led to the following page where you may key in the amount you wish to Withdraw.
Key in the amount of MYR you wish to Withdraw under ‘Please enter amount to withdraw’ and select ‘Request MYR Withdrawal’ when you are done.
3) Daily Trading Limits
Your allocated Daily Trading Limit has not been and was not affected through this transition.
Maximum trading limits are evaluated on a case by case basis based on your income level. Should you require any increase your trading limit, kindly complete the questionnaire and go through the income verification. You may refer to this link https://www.coinhako.com/wallet/verification to submit the relevant documents.
4) Transaction Fees
i) MYR Deposits
There are no transaction fees for depositing MYR
ii) MYR Withdrawals
Local inter-bank transfer: There will be a withdrawal fee for MYR 6 which will be deducted from the withdrawn amount
Telegraphic transfer: There will be a withdrawal fee of 0.1% of the amount, excluding bank charges.
These information can be seen before any MYR withdrawal requests.
iii) Trading of Cryptocurrencies within CoinHako
Transaction Fees for the the trading of Cryptocurrencies will be as per normal. You will be able to see the fees before the purchase of any Cryptocurrencies.
SGD Transactions resolved soon
While our MYR Deposit and Withdrawal processes are fully resumed we are also glad to share that we are on the way to a solution for the SGD Deposits and Withdrawals situation.
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Disclaimer: Please note that this post is purely informational. Should you have any further enquiries please do not hesitate contact our support team at firstname.lastname@example.org
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