Smart investors are always looking for investment opportunities that offer optimal returns. Today, cryptocurrency has emerged as an increasingly competitive investment field.
Elon Musk, the founder of Tesla and dubbed the “Technoking,” is among the prominent investors in cryptocurrency. The confidence in this investment potential is also shared by asset managers who have included crypto in their portfolios.
Recently, Brevan Howard Asset Management, a United Kingdom-based company managing US\$14 billion in funds, also began investing in cryptocurrency. However, what is the status of this investment in Malaysia?
The cryptocurrency revolution has received mixed reactions from financial regulators in various countries. Thailand, Bolivia, and Iran, for example, have banned cryptocurrency.
In Malaysia, the approach is more dynamic. According to guidelines from the Securities Commission, cryptocurrency investment is allowed and legal in Malaysia, but it can only be conducted through platforms registered with the Digital Asset Exchange. Among the platforms licensed by the Securities Commission are Luno Malaysia, Sinegy Technologies, and Tokenize Technology.
Through these platforms, investors can invest in various cryptocurrencies such as Bitcoin, ethereum, litecoin, and XRP.
So far, investor response to these platforms has been very encouraging. For example, Luno Malaysia has managed over RM1 billion since its launch in 2019.
Interestingly, interest among female investors in cryptocurrency has also increased. According to data from Luno Malaysia, female investors on its platform rose to 20 percent, compared to 12 percent in 2019.
From a legal standpoint, cryptocurrency investment is permitted in Malaysia. But what about Muslim investors? In 2020, the Shariah Advisory Council of the Securities Commission decided that investing and trading in cryptocurrency is Shariah-compliant.
Therefore, Muslim investors can also participate in this investment. One of the advantages of cryptocurrency investment is its transactional flexibility, as it can be conducted 24 hours a day, including on weekends, making it ideal for working investors. In addition to offering optimal returns and flexibility, this investment is also closely monitored by the Securities Commission. As such, investors only need to focus on managing their funds wisely.
However, like any other investment, risks still exist. Investors are advised to continuously seek knowledge in order to maximize returns and manage losses effectively. Technical analysis can help determine the right time to buy or sell cryptocurrency.
Overall, we are fortunate that this investment is legal and Shariah-compliant in Malaysia. However, be cautious not to fall into the traps of irresponsible parties. Make sure to invest through licensed platforms and check the Securities Commission’s website for the latest information.
Adapted from the source:
https://www.bharian.com.my/rencana/komentar/2021/04/810777/pilih-saluran-sah-labur-mat
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