Rybit (Updated August 6, 2024: Rybit will transition to serving corporate clients exclusively from August 23 onward, discontinuing services for individual users. Consider alternative Taiwanese cryptocurrency exchanges for deposits/withdrawals.)
Why Choose Rybit?
For cryptocurrency traders, maintaining accounts on two types of exchanges is advisable:
- Global Primary Exchange: E.g., Binance—high liquidity, comprehensive features, and robust security. However, direct fiat-to-crypto conversions (like TWD) may require credit cards or peer-to-peer (P2P) methods.
- Local Taiwanese Exchange: Rybit simplifies converting TWD to cryptocurrencies (e.g., USDT) and vice versa, offering lower costs and enhanced security. Ideal for beginners.
Rybit’s mission centers on building a trustworthy, user-friendly platform while fostering blockchain education and ecosystem growth in Taiwan.
Rybit Registration & KYC Guide
1. Sign-Up Process
- Visit the Rybit Official Website or download their app.
- Provide an email, set a password, and verify via a confirmation code.
2. Identity Verification (KYC)
- Requirements: Valid ID and a live selfie.
- Note: Each user can bind only one account permanently. Mobile app registration is recommended for smoother photo uploads.
- Post-KYC, enable 2FA (Google Authenticator) for added security during logins/transactions.
Bank Account Binding & Deposit/Withdrawal
1. Bank Binding
- Link a personal Taiwanese bank account (digital banks excluded).
- Verification typically takes 1–3 days.
2. Depositing TWD → USDT
- Post-verification, transfer TWD to Rybit at displayed USDT rates (e.g., 31.513 TWD/USDT).
- Simplified process compared to other exchanges requiring additional trading steps.
3. Withdrawing USDT → TWD
- Convert USDT back to TWD, withdrawn to your linked bank account.
Transfers: Deposits & Withdrawals
Key Concepts:
- Deposit (充幣): Receive crypto from external wallets/exchanges.
- Withdrawal (提幣): Send crypto to other platforms (e.g., Pionex, OKX).
Critical Notes:
- Chain Selection: Match chains (e.g., TRC20/BEP20) on both ends to avoid lost funds.
- Fees: BEP20 often offers lower fees than TRC20.
Rybit Mobile App
Download via:
USDT FAQs
1. What is USDT?
A USD-pegged stablecoin (1 USDT ≈ $1) designed to minimize volatility, widely used for trading and transfers.
2. Converting USDT to TWD: Key Tips
- Platform Choice: Opt for reputable exchanges with transparent fees.
- Regulations: Complete KYC to comply with AML laws.
- Timing: Monitor exchange rates to maximize returns.
- Start Small: Test with minor amounts if new to conversions.