Understanding Deposit and Withdrawal Processes
After completing dual-ID verification and bank account authentication on MAX Exchange:
- Navigate to Wallet → Select TWD
- Click Deposit → View your designated bank account details
Key notes:
- Upon verification, users receive a unique Far Eastern Bank account (MAX's partner bank)
- Deposits must originate from your authenticated bank account
- Withdrawals are processed to the same verified bank account
🔍 Pro Tip: Use the Maicoin mobile app for smoother transactions with SMS/email authentication.
How to Buy USDT with TWD
USDT (Tether) is a stablecoin pegged 1:1 to the USD, minimizing volatility. It serves as the primary trading pair for most cryptocurrencies—similar to converting USD before exchanging for exotic currencies like Zimbabwean dollars.
Step-by-Step Guide via Maicoin App:
- Go to Trade → Select USDT
- Tap Buy/Sell → Choose Buy → Enter USDT quantity or TWD amount → Confirm Buy
- Reverse the process for selling USDT
📌 Why USDT? It's universally accepted across exchanges, enabling seamless cross-platform trades.
Transferring USDT to Binance
On Binance App:
- Log in → Funds → Spot Wallet → Search USDT → Select Deposit
- Choose TRON (TRC20) network → Copy wallet address
On Maicoin App:
- Go to Wallet → USDT → Send
- Add new address: Paste Binance’s TRC20 wallet address
- Enter amount → Confirm transfer
⚠️ Critical Reminder: Both platforms must use TRC20. Transfers fail if networks mismatch!
FAQ Section
Q: Why can’t I withdraw to an unverified bank account?
A: Exchanges comply with anti-money laundering (AML) laws, requiring matched account ownership for security.
Q: How long do USDT transfers take?
A: Typically 5–30 minutes, depending on network congestion.
Q: Is TRC20 the only option for USDT transfers?
A: No, but it offers lower fees (~$1) vs. ERC20 (~$10–$20). Always verify the recipient’s network!
👉 Master crypto trading strategies to optimize your portfolio.
Key Takeaways
- Always verify deposit/withdrawal account details
- USDT bridges trades between exchanges
- Network compatibility (TRC20/ERC20) is non-negotiable
Stay tuned for our next guide: Binance Spot Trading Explained!
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