Convert
Malaysian Ringgit (MYR) to Conflux EVM (CFX) Instantly

Frequently Asked Questions

What is the best way to buy Conflux (CFX) with Malaysian Ringgit (MYR)?

The most common method is using a regulated cryptocurrency exchange in Malaysia that lists the MYR/CFX pair. These platforms act as a fiat on-ramp, allowing you to deposit MYR directly from your local bank account via methods like FPX online banking or bank transfer. After completing the mandatory KYC/AML compliance checks, you can place an order to purchase the CFX digital asset. Alternatively, you can use a global exchange that accepts MYR deposits to trade for CFX.

What kind of fees can I expect when executing a MYR to CFX transaction?

There are several potential fees. First, depositing MYR onto an exchange via FPX or bank transfer may incur a small fee from the payment provider or exchange. Second, the cryptocurrency exchange itself will charge a trading fee, typically a small percentage of the transaction value. Finally, when you withdraw your CFX to a personal digital wallet, you'll pay a network transaction fee. The Conflux network is known for its low fees, which are paid in CFX, making this final step cost-effective.

Why is Conflux's EVM compatibility important for someone investing with MYR?

EVM (Ethereum Virtual Machine) compatibility means that decentralized applications (dApps) built for Ethereum can be easily deployed on the Conflux network. For a MYR-based investor, this is significant because it opens up access to a potentially vast and growing ecosystem of DeFi, NFT, and gaming protocols without needing to use the often congested and expensive Ethereum mainnet. Your CFX, purchased with MYR, becomes the key to interacting with these dApps, benefiting from Conflux's high throughput and low transaction fees.

What are the key technical advantages of the Conflux network that MYR investors should know?

Conflux distinguishes itself with a unique Tree-Graph ledger structure and a hybrid PoW+PoS consensus mechanism, enabling high throughput of thousands of transactions per second with low transaction fees. Crucially for developers and users, it features full EVM compatibility, allowing for easy migration of dApps from Ethereum. It also utilizes ShuttleFlow, a cross-chain asset protocol, enhancing interoperability. For an MYR-based investor, this means access to a scalable and versatile blockchain ecosystem.

After buying CFX with MYR, what is the most secure way to store it?

For maximum security, it is highly recommended to transfer your CFX from the cryptocurrency exchange to a non-custodial digital wallet where you control the private keys. Options include Conflux's native wallet, Fluent Wallet, or hardware wallets that support the Conflux network. Storing assets on an exchange is convenient for trading but exposes you to risks like exchange hacks. With a personal wallet, you have full sovereignty over your blockchain assets, but you are solely responsible for securing your private keys or seed phrase.

Can I use the ConfluxScan explorer to track my MYR/CFX blockchain transaction?

Yes, but it's important to understand the process. The initial purchase of CFX with MYR happens on a centralized exchange and is recorded in their private ledger. The 'blockchain transaction' occurs when you withdraw the CFX from the exchange to your personal wallet. Once you initiate this withdrawal, the exchange will provide a transaction hash (TxID). You can enter this TxID into the ConfluxScan explorer to track the confirmation status of your transfer on the public Conflux blockchain, verifying that the digital asset has securely arrived in your wallet.