If you're interested in cryptocurrencies, this guide will walk you through how to start investing as a beginner. The crypto space offers diverse profit opportunities that can be overwhelming, so we'll break it down into 7 fundamental steps to master basic operations before exploring advanced strategies.
Why Invest in Cryptocurrencies?
Here are compelling reasons why investors enter the crypto market:
- High growth potential: Many projects are in early development stages with exponential return possibilities
- Mainstream adoption: Events like the 2024 Bitcoin Spot ETF approval accelerated institutional investment
- Inflation hedge: Limited-supply assets like Bitcoin preserve value against currency devaluation
- Borderless transactions: Crypto transfers bypass geographical restrictions and exchange rate complexities
Getting Started with Crypto Investments
The easiest entry point is through cryptocurrency exchanges, similar to stock brokerage accounts. Beginners should register with both:
- Local exchanges (for fiat currency deposits)
- Global exchanges (for broader trading options)
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Step 1: Register and Verify Accounts on MAX and Binance
- Complete online registration and KYC verification
- Use referral codes for trading fee discounts
- Understand security protocols behind identity verification
Step 2: Deposit Fiat Currency into MAX Exchange
- Bank transfers go to trust accounts (not private accounts)
- Obtain dedicated deposit account details from MAX wallet interface
- Transfers typically clear within 5 minutes
Step 3: Convert TWD to USDT on MAX
Why USDT first?
- Stablecoin value pegged to USD
- Lower fees than direct crypto purchases
- Universal trading pair across exchanges
Transaction tips:
- Reference current market price
- Use limit orders for better rates
- Monitor order status in wallet
Step 4: Transfer USDT to Binance
Critical notes:
- Always double-check network selection (TRC-20 recommended)
- Confirm recipient address accuracy
- Typical transfer time: 10 minutes
- Contact support if transactions stall
Step 5: Trade Crypto on Binance
Basic trading mechanics:
- Select trading pair (e.g., BTC/USDT)
- Choose market/limit orders
- Minimum investment: ~$5 worth of crypto
- Track orders in "Spot Wallet"
Step 6: Withdraw Profits Back to MAX
Reverse process:
- Convert crypto to USDT
- Obtain MAX TRC-20 address
- Initiate withdrawal from Binance
- Confirm receipt in MAX wallet
Step 7: Cash Out to Bank Account
Final steps:
- Sell USDT for TWD on MAX
- Submit bank withdrawal request
- Note: NT$15 fee per transaction
- Processing time: 1-2 business days
Advanced Investment Strategies
Beyond spot trading:
- Earn programs: Up to 10% APY on stablecoins
- Futures trading: Leveraged positions (high risk/reward)
- Staking: Earn rewards by locking assets
Tax Considerations
Key guidelines:
- Overseas withdrawals: Subject to foreign income tax rules
- Local withdrawals: Treated as domestic income
- Tax optimization strategies for large portfolios
FAQ Section
Q: Are cryptocurrencies tangible assets?
A: While digital, they're transferable between wallets like traditional money.
Q: Is crypto just fraud?
A: Legitimate assets exist, but scams occur—always use reputable exchanges.
Q: What's the minimum investment?
A: Some platforms allow starts under $10.
Key Takeaways
- Master basic exchange operations first
- USDT simplifies initial transactions
- Always verify network selections for transfers
- Explore advanced strategies after grasping fundamentals
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Disclaimer: This content represents educational material, not financial advice. Cryptocurrency investments carry substantial risk—invest only what you can afford to lose.