How to Buy Bitcoin and Cryptocurrency in Taiwan: A Complete Guide

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Purchasing Bitcoin and other cryptocurrencies in Taiwan has become increasingly accessible thanks to the growing number of platforms and services tailored to local users. Whether you're a beginner or looking to refine your strategy, understanding the available methods—exchanges, trading platforms, and OTC (over-the-counter) markets—is essential for making informed, secure, and cost-effective transactions.

This guide walks you through the three primary ways to buy Bitcoin in Taiwan, detailing how each method works, its pros and cons, and practical steps to get started—all while prioritizing safety and ease of use.

Method 1: Currency Exchanges (兌換所)

A currency exchange operates similarly to a traditional money changer or bank teller—offering fixed buy and sell rates for cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). You simply pay in Taiwanese dollars (TWD) and receive crypto at the platform’s listed rate, much like converting TWD to USD.

Popular exchanges in Taiwan include MaiCoin and BitoEX, both of which support direct TWD-to-crypto transactions.

How It Works

Buying Crypto

  1. Visit the exchange’s website.
  2. Enter the amount of cryptocurrency you’d like to purchase.
  3. The platform calculates the equivalent TWD amount based on its current buy rate.
  4. Pay via online banking, ATM transfer, or convenience store payment code.
  5. Once confirmed, the crypto is instantly credited to your account.

Selling Crypto

  1. Place a sell order for your cryptocurrency.
  2. Upon completion, TWD will be credited to your platform balance.
  3. To withdraw funds, complete KYC verification and link a local bank account.
  4. Withdrawals typically take 1–3 business days.

Advantages

Disadvantages

👉 Discover a seamless way to start your crypto journey today.

Method 2: Cryptocurrency Exchanges

A cryptocurrency exchange functions like a stock trading platform where users place buy and sell orders that are matched based on market demand. These platforms often require identity verification (KYC) and allow for greater flexibility in pricing and asset selection.

Exchanges are divided into two types:

How It Works

Buying Crypto

  1. Register an account and complete KYC verification.
  2. Deposit TWD via bank transfer or ATM.
  3. Use your TWD balance to place a buy order at your desired price.
  4. Once matched, the cryptocurrency is added to your wallet.

Selling Crypto

  1. Place a sell order at your preferred price.
  2. After the trade executes, TWD appears in your account.
  3. Withdraw funds to your linked bank account—again, KYC is required.

Advantages

Disadvantages

For those seeking advanced trading tools and deeper market access, exchanges offer powerful features—but they come with a steeper learning curve.

Method 3: OTC (Over-the-Counter) Market

The OTC market allows individuals to trade cryptocurrency directly with one another, bypassing traditional exchange systems. This method is ideal for large-volume trades or users who want faster access to cash.

There are two main types of OTC trading:

1. Peer-to-Peer (P2P) Private Trades

Buyers and sellers arrange transactions privately via messaging apps or forums. Payment can be made through bank transfer or even in-person cash exchange.

Process:

⚠️ High risk of fraud—always verify identity and use escrow when possible.

2. OTC Trading Platforms

These platforms function like digital marketplaces (e.g., Shopee or 8591), where users post buy/sell ads.

Process:

Advantages

Disadvantages

👉 Explore secure, low-fee trading options with built-in buyer protection.

Frequently Asked Questions (FAQ)

Q1: Is it legal to buy Bitcoin in Taiwan?

Yes, owning and trading Bitcoin is legal in Taiwan. The Financial Supervisory Commission (FSC) recognizes cryptocurrencies as legitimate assets, though they are not considered legal tender.

Q2: Do I need ID verification to buy crypto?

Most regulated exchanges and currency exchanges require KYC verification (ID, proof of address) before allowing deposits or withdrawals. This helps prevent money laundering and ensures compliance with local regulations.

Q3: Which method is best for beginners?

Currency exchanges like MaiCoin or BitoEX are the most beginner-friendly due to their simple interface, instant transactions, and direct TWD support.

Q4: Are there fees when buying Bitcoin?

Yes, all platforms charge fees—whether as part of a spread (exchanges), transaction fee (trading platforms), or service fee (OTC). Always check the total cost before confirming a trade.

Q5: Can I use a credit card to buy crypto?

Some fiat-supported exchanges allow credit card purchases, though they may impose higher fees or limits due to chargeback risks.

Q6: How do I keep my crypto safe after buying?

Store your cryptocurrency in a private wallet rather than leaving it on an exchange. Hardware wallets (like Ledger) or trusted software wallets offer better long-term security.

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Whether you're taking your first step into digital assets or expanding your portfolio, choosing the right method depends on your priorities: simplicity, price, speed, or security.

For users who value both ease of use and advanced functionality, combining a trusted exchange with secure storage practices offers the best balance.

👉 Start buying Bitcoin safely and efficiently—explore trusted global platforms now.

By understanding the differences between currency exchanges, trading platforms, and OTC markets, you can make smarter decisions, avoid common pitfalls, and confidently navigate Taiwan’s evolving cryptocurrency landscape.