The cryptocurrency market has been booming recently, with Bitcoin gaining momentum before the U.S. election and skyrocketing after Trump's victory. From its low of 52,550 in early September to a peak of 99,588 in November, Bitcoin has officially signaled the start of this bull cycle in the crypto space!
Many investors are eager to dive into cryptocurrency trading. Here, we’ll guide you through the standard and secure process for entering the crypto market.
Step 1: Register on Cryptocurrency Exchanges
A critical point to remember: You must register with at least two exchanges.
- One should be a Taiwan-based exchange (e.g., BitoPro, Taiwan’s largest exchange) to enable direct bank transfers in TWD for buying cryptocurrencies or stablecoins.
- The second should be a global platform (e.g., Pionex, a leading quantitative trading exchange) to access advanced tools like grid trading or futures.
These two exchanges will cover over 90% of your crypto trading needs.
Step 2: Funding Your Account
After completing registration and identity verification, you can fund your account through:
- Bank transfers to a Taiwan-based exchange (after account linking).
- Convenience store scans (e.g., BitoPro supports small deposits via FamilyMart or Hi-Life).
⚠️ Avoid:
- Credit card transactions on offshore exchanges (high fees/poor rates).
- P2P trades with unverified dealers (risky and potentially illegal).
Step 3: Buying Cryptocurrencies
- For long-term holders: Purchase mainstream coins (e.g., Bitcoin, Ethereum) directly on a local exchange.
For active traders: Convert TWD to stablecoins like USDT (the "dollar" of crypto) to access advanced products:
- Grid bots, arbitrage strategies, or futures trading.
- Crypto-backed loans or yield-bearing assets.
The process mirrors forex trading—swap TWD for USDT first, then trade other assets.
Step 4: Withdrawing Profits
To cash out:
- Transfer stablecoins to your Taiwan-based exchange.
Sell for TWD and withdraw to your linked bank account.
- Example: BitoPro processes withdrawals before 11 AM on the same day; after 11 AM, funds arrive the next afternoon.
Why This Matters
By mastering these standard procedures, you’ll:
✅ Avoid scams fueled by misinformation.
✅ Ensure compliant, low-risk transactions.
✅ Seamlessly move between fiat and crypto.
FAQs
Q1: Can I use just one exchange for everything?
A: No. Local exchanges simplify fiat conversions, while global platforms offer advanced tools.
Q2: Are P2P transactions safe?
A: They carry high risks (scams, money laundering). Stick to regulated exchanges.
Q3: How fast are TWD withdrawals?
A: Typically same-day or next-day, depending on the exchange’s cutoff time.
👉 Ready to start trading securely? Explore trusted platforms here
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Note: For further learning, check out structured courses on crypto trading strategies, blockchain transfers, or bot configurations. Always verify information through official channels.