Back Story
Got an enquiry from a non-tech savvy person about investing into crypto and turning that into a RM10k profit. No idea how to start and no idea the period of time. What's clear is just the RM10k amount for next year splurge. So asking for my opinion.
What I did was have an overall idea on what's going on and prompt Grok to get me some good strategy to kickstart. Here's what I got. Think this is pretty useful and practical as well.
Feedback
Crypto can go up or down a lot, so there's risk—you might lose money. This is not advice from a pro; always check with a financial expert and only use money you can afford to lose. We're using an easy plan called "Dollar-Cost Averaging" (DCA). It means buying a little bit over time, not all at once. We'll focus on two big cryptos: Bitcoin (BTC) and Ethereum (ETH). Hold them until the end of the year. This is medium risk—safer than wild bets, but still not guaranteed.
Goal: Turn your starting money into extra RM10,000 by December 2025. If the market does okay (25-40% growth), this can happen. If not, you might get less, like RM3,000-RM6,000, which is fine as you said. Prices are in RM, but crypto is bought in USD equivalents on the app.
Why This Plan?
- It's simple: No need to watch prices every day or guess the market.
- Low effort: Set it up once, let it run.
- Medium risk: Stick to trusted cryptos, buy slowly to handle ups and downs.
- Extra perk: You can "stake" ETH to earn a little more (like interest) without work.
What You'll Need
- A phone or computer with internet.
- An account on Luno (best for Malaysians—it's regulated here, supports MYR, and is beginner-friendly).
- Money to start: I suggest RM30,000 total. This gives a good shot at RM10,000 profit if things go well. If you have less, start smaller and expect smaller wins.
- Split: 70% BTC (RM21,000), 30% ETH (RM9,000).
- Time: About 4 months left (until December 2025).
Step-by-Step: How to Do It
Pick and Set Up Your App
- Download the Luno app on your phone (free on Google Play or App Store).
- Sign up: Use your email, make a strong password, and add two-factor security (like a code to your phone).
- Verify your ID: Upload a photo of your MyKad or passport. This is required in Malaysia for safety.
- Link your bank: Add a Malaysian bank account (like Maybank or CIMB) to buy with MYR. Deposits are fast and free from most banks.
- Why Luno? It's local, easy for beginners, supports MYR directly (no extra conversion fees), and has simple tools. (If Luno doesn't work for you, try Binance—it's global and available, but Luno is simpler for Malaysians.)
Plan Your Buys (DCA Style)
- Don't buy everything now. Spread it over 4 months to avoid bad timing.
- Buy every week or every two weeks. For RM30,000 total:
- Weekly (16 weeks): Buy RM1,875 each time (RM1,312 BTC + RM563 ETH).
- In the app:
- Go to "Buy" section.
- Pick BTC, enter amount (e.g., RM1,312), pay with bank.
- Do the same for ETH.
- Set a reminder on your phone to do this each week.
- Automate: Luno has "Recurring Buys"—set it to buy automatically with MYR.
Hold and Earn a Bit Extra
- After buying, just leave it in your account. This is "HODL" (hold on for dear life).
- For ETH: Turn on "staking" in Luno. It's like putting money in a savings account. You might earn 4-6% extra per year. Go to ETH in your app, find "Stake" or "Earn" button, and follow steps. It's safe and easy—no extra cost.
- Check once a month: Open the app, see your balance. Don't sell if it dips; wait for growth.
Stay Safe (Risk Tips)
- Only use money you don't need soon.
- If prices drop a lot (e.g., BTC below $90,000 or about RM380,000), you can sell to stop losses, but try to hold—crypto often bounces back.
- Keep some money in "stablecoins" like USDT (in the app) for safety—it doesn't fluctuate much.
- Watch for taxes: In Malaysia, crypto profits might be taxed as income (up to 30%). Track your buys/sells and check with IRB or a tax expert. Luno provides reports to help.
- Avoid scams: Never share your password or click weird links. Luno is regulated by SC Malaysia, so it's safer.
When to Sell (Exit Plan)
- In December 2025, check your total value.
- If you have RM10,000+ profit (original RM30,000 now RM40,000+), sell what you need.
- In the app: Go to "Sell," pick BTC or ETH, enter amount, send money to your bank in MYR.
- If not at RM10,000 yet, hold longer or take what you have.
What If...
- Market goes great? You might make more than RM10,000.
- Market bad? Profits smaller, but this plan helps by buying low sometimes.
- Starting smaller? With RM15,000, aim for RM3,000-RM6,000 profit.
Final Tips
- Learn a bit: Read free guides on Luno's website or watch short YouTube videos on "crypto for beginners in Malaysia."
- Stay calm: Don't check prices too often—it can stress you out.
- Track progress: Use a notebook or phone note for your buys and total.
Good luck! If you follow this, it's straightforward. Remember, no guarantees in crypto. Start small if unsure.