For Taiwanese users investing in cryptocurrencies, please note the "Anti-Money Laundering Registration Rules for Virtual Asset Service Providers" issued by the Financial Supervisory Commission (FSC). Always choose secure and reliable exchange platforms!
This guide explores deposit and withdrawal methods for Matrixport, a one-stop digital asset financial services platform. We'll cover credit card purchases, wallet transfers, USD account wire transfers, and analyze each method's pros/cons. Quick verdict: Credit card purchases are least recommended due to high fees; USD wire transfers and wallet transfers are optimal.
Matrixport Overview
Founded in February 2019 by Jihan Wu (co-founder of Bitmain), Matrixport is headquartered in Singapore and offers crypto wealth management, lending, and custody services. Key stats:
- Monthly trading volume: $5B+
- Loans outstanding: $400M
- Assets under custody: $10B
Deposit Methods Comparison
| Method | Wallet Transfer (Recommended) | Credit Card Purchase (Not Recommended) | USD Wire Transfer (Large Amounts) |
|---|---|---|---|
| Target Users | All | All | Transfers >$5,000 |
| Fees | 1 USDT | ~5% | $15–25 |
| Notes | Verify wallet address/coin | High fees; credit card rewards may offset partially | Cheaper than TWD forex conversion |
Step-by-Step Deposit Guides
1. Credit Card Purchase (Not Recommended)
- Supports 20+ cryptocurrencies and Apple Pay.
- Example: Buying 100 USDT yields only ~87.1 USDT after fees.
- Tip: Use only as a last resort.
2. Wallet Transfer (Best for Small Amounts)
- Deposit TWD via local exchanges like MAX or ACE.
- Convert to USDT (use TRC20 network for lowest fees).
- Transfer to Matrixport wallet.
👉 How to save on fees with TRC20 transfers
3. USD Wire Transfer (Best for Large Amounts)
- Requires KYC Level 2 verification.
Steps:
- Bind USD bank account (submit English documents).
- Wait 1 business day for approval.
- Wire funds using Matrixport’s bank details (include PIN code).
- Funds auto-convert to USDC (1:1 ratio).
Note: Banks charge $20–30 per transfer. Use for amounts >$10,000.
Withdrawal Methods
1. Wallet Transfer
- 2 free monthly withdrawals on Matrixport.
- Use TRC20 for USDT transfers (Omni not supported).
2. USD Wire Transfer
- Only supports USDC withdrawals.
- Fees: 1 USDC (Matrixport) + $15–25 (bank).
- Processing: 2–4 business days.
FAQ Section
❓ Is Matrixport safe?
Yes, it’s regulated and complies with Singaporean AML laws.
❓ What’s the cheapest withdrawal method?
Wallet transfers (TRC20) with minimal fees.
❓ Can I use TWD directly?
No, convert to USDT/USDC via local exchanges first.
Recommended Crypto Platforms
| Platform | Key Feature | Bonus |
|---|---|---|
| Binance | USDT/USDC 8% APY | Sign up for 2,000U bonus |
| OKX | USDT 15–40% APY | Get started |
Final Tips
- For <$10K: Use wallet transfers.
- For >$10K: USD wire transfers save forex costs.
- Always double-check wallet addresses and network types.
👉 Explore more crypto strategies here
Disclaimer: This guide is educational only. Invest at your own risk.