The most complete guide to buying cryptocurrencies in TWD 2025: Learn detailed tips on choosing a legitimate exchange, the account opening process, bank deposit methods, and how to pay taxes, so you can avoid stepping on mines and safely profit from your cryptocurrency investments.
Taiwan Cryptocurrency Regulation Update 2024: The Evolution of Market Regulation
In 2024, Taiwan's cryptocurrency regulation took a major step forward, and the old saying that "virtual currencies are uncontrollable" no longer applies. WithTaiwan Virtual Money Association (VASP)The regulation and legal framework for cryptocurrencies is becoming clearer with the formal establishment of the Cryptocurrency Foundation.
We have previously written articles on how to buy Bitcoin using Taiwan Dollars. However, some platforms, such as Rybit, have now discontinued their services for retail users. Whether you're a newbie or an experienced veteran, this article will walk you through how to legally and securely buy cryptocurrencies in Taiwan using Taiwan Dollars and teach you how to choose a reliable trading platform.
How to Legally and Safely Buy Cryptocurrency with Taiwan Dollars in Taiwan: The Details
In the article, I will explain in detail the latest regulations for buying cryptocurrencies on Taiwan Dollars, how to judge the security of the platforms, every step from opening an account to successfully purchasing Bitcoins. Finally, I'll also reveal how you should pay taxes if you make a profit in the cryptocurrency market - I've also consulted a professional accountant to answer this part of the question.
International Exchange vs. Taiwan Local Exchange
As we all know, to buy cryptocurrency, you need to use a proper cryptocurrency exchange. There are two types of exchanges: international exchanges registered overseas, such as Binance and OKX, which are large in scale and offer a wide range of services to serve global users. These platforms are large in scale and offer a wide range of services to users around the world. However, each country imposes restrictions on the services provided by these international platforms in accordance with local laws and regulations. For example, in the U.S., nationals can only use U.S. platforms such as Binance US or Coinbase due to regulatory requirements.
How to Choose a Compliant Exchange in Taiwan: Avoiding Illegal OTC Trading
Fortunately, Taiwan has fewer restrictions on international platforms. You are free to register and trade on platforms such as CoinOn and OKX and use the various cryptocurrencies available on the platforms. The only restriction is that bank accounts in Taiwan cannot transfer funds directly with international exchanges. That is, if you already own cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Stablecoin (USDT), etc., you can trade on international exchanges. However, if you are new to trading and want to transfer your Taiwan Dollars to an exchange, you will need to choose an exchange that already follows the anti-money laundering regulations in order to legally fund your Taiwan Dollars and start trading.
26 legal exchanges in Taiwan
According to the announcement made on September 26, 2024, there are currently 26 legitimate exchanges in Taiwan that have completed the Anti-Money Laundering Prevention and Control Act (AMLPA) compliance statement. These exchanges are legitimate, licensed Taiwan Dollar exchanges that can offer users the ability to buy and sell cryptocurrencies with Taiwan Dollars. It is basically illegal for someone to tell you that you can buy cryptocurrency directly in Taiwan dollars. These underground OTC services used to be very popular in the past, but they are now explicitly banned and the regulations are getting stricter and stricter.
Choosing Taiwan's Major Exchanges: OKX vs BITPRO
In Taiwan, apart from compliant platforms, the government mainly sets self-regulation through the Virtual Money Association. Regulation is not yet fully in place, but self-regulation has begun to play a role. If you don't prefer a particular platform, it's recommended to choose a larger platform with a long history, as such exchanges tend to be safer and more suitable for newbies.
Today we're going to use two of Taiwan's leading exchanges - OKX and BITPRO - as examples. These two platforms were founded in 2014, even before CoinSafe. They are the top two cryptocurrency exchanges in Taiwan in terms of qualifications, size, depth of trading and number of users. If you don't have any other preferences and simply want to buy and sell, then choose one of these two platforms.
OKX vs. BITPRO Fee Comparison: Choosing the Best Trading Platform
Next, let's briefly compare the key figures and fees of the two exchanges:
- OKX Handling Fee::
- List Handling Fee: 0.05%
- Handling Fee: 0.15%
- Average Handling Fee: 0.1%
- BITPRO Handling Fee::
- List Handling Fee: 0.1%
- Handling Fee: 0.22%
- Average Handling Fee: 0.15%
Both exchanges have their own platform currencies, OKB and BITO, and the main function of the platform currencies is that you can use the platform currencies to pay for the handling fees, which can be reduced to as low as 0.05% or 0.075%, which is much cheaper compared to stock market trading! In addition, both exchanges also offer a VIP program, whereby depending on your trading volume or funding level, the handling fee can be further reduced.
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If you sign up through an exclusive referral link, you'll also get up to $20% in fee waivers.
Cryptocurrency Price Fluctuations: USDT Price Differences on the TCC Exchange
For the price fluctuation of cryptocurrencies, although the price of stable coins such as USDT will change at any time, the price difference of USDT will not be very big in the Taiwan Dollar Exchange. Most cryptocurrency users buy USDT on the Taiwan Dollar Exchange before switching to other platforms for investment. Therefore, the USDT price difference on the Taiwan Dollar Exchange does not affect most traders.
Deposit Process in Taiwan Dollars: OKX and BITPRO's Partner Banks
As for the depositing part, both OKX and BITPRO have partnered with Far East Bank, which means that you can deposit your coins into the exchange quickly. The exchanges can't withdraw your money easily, it has to be reviewed and confirmed by Far East Bank.
Frequently Asked Questions
1. How to choose a legitimate Taiwan cryptocurrency exchange?
In Taiwan, legitimate cryptocurrency exchanges must comply with anti-money laundering regulations and be locally registered and licensed. When choosing a platform, you should prioritize those that are well-known and have a compliance statement.
2. How do I deposit funds into a cryptocurrency exchange?
Many legitimate Taiwan exchanges offer deposits in Taiwan Dollars, such as OKX and BITPRO, and these platforms have partnered with banks in Taiwan to allow users to quickly deposit Taiwan Dollars into the exchange.
3. Are cryptocurrency transactions taxable?
Yes, according to Taiwan's tax law, cryptocurrency transactions and profits are subject to tax. It is recommended to consult a professional accountant for specific tax calculations.
4. Is there a big difference in the price of stable money (USDT) on the Taiwan Dollar Exchange?
In most currency exchanges, the price difference in USDT is not significant, so the main considerations for choosing a currency exchange should be the trading fees and the platform.
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