Introduction
The cryptocurrency market is experiencing significant growth in 2024 following key developments like the approval of US Bitcoin ETFs and Bitcoin's halving event. This guide will walk you through four essential steps to start your crypto investment journey.
Step 1: Register with a Taiwanese Cryptocurrency Exchange
For beginners, we recommend starting with a local exchange that offers:
- TWD deposits/withdrawals
- Chinese-language customer support
- Regulatory compliance with anti-money laundering laws
- Third-party bank trust custody for fiat deposits
👉 Get started with trusted Taiwanese exchanges
Recommended Exchanges:
MAX Exchange
- Established local presence
BitoPro Exchange
- User-friendly interface
Why register with multiple exchanges?
- Provides backup options
- Allows price comparison across platforms
- Ensures access during high traffic periods
Step 2: Purchase Cryptocurrency with TWD
After registration:
- Deposit TWD into your exchange account
Convert TWD to USDT (Tether)
- USDT serves as the base currency (1 USDT ≈ 1 USD)
- Most crypto prices are quoted in USDT pairs
Trading Interface Overview (MAX Exchange):
- Market price display
- Order book
- Price chart
- Buy/sell panels
- Order history
- Account balance
👉 Learn advanced trading strategies here
Step 3: Transfer to International Exchanges
Benefits of international exchanges:
- Wider selection of cryptocurrencies
- Better pricing
- Lower fees
- More investment options
Recommended Exchange: Binance
- Global market leader
- Established Taiwan office in 2018
Transfer Process:
- Select "TRC20" network
- Copy your Binance USDT deposit address
- Initiate transfer from your Taiwanese exchange
Important: Always verify:
- Correct blockchain network
- Accurate wallet address
Step 4: Start Crypto Investing
With funds on Binance, you can:
- Trade major cryptocurrencies (BTC, ETH)
- Use earning products (up to 10%+ APY)
Explore advanced strategies:
- Grid trading
- Dual currency investments
- Dollar-cost averaging
Withdrawal Process
To cash out:
- Convert crypto to USDT
- Transfer USDT to Taiwanese exchange
- Sell USDT for TWD
- Withdraw to bank account
FAQs
Q: Is cryptocurrency investing safe?
A: While volatile, using regulated exchanges and proper security measures significantly reduces risks.
Q: How much should I invest as a beginner?
A: Start with an amount you can afford to lose - recommended 1-5% of your portfolio.
Q: What's the best cryptocurrency for beginners?
A: Bitcoin (BTC) and Ethereum (ETH) are the most established, followed by stablecoins like USDT.
Q: How do I secure my account?
A: Enable 2FA, use strong passwords, and never share your private keys.
Conclusion
Cryptocurrency represents a new asset class worth exploring. By following these four steps - registering with exchanges, converting fiat, transferring to international platforms, and beginning your investments - you'll be well-positioned to participate in this growing market.
Remember: 👉 Successful investing starts with the right platform
Additional recommended international exchanges:
- Pionex
- OKX