How to Buy Bitcoin in Taiwan

We found 3 trusted online cryptocurrency exchanges operating in Taiwan including Kraken, Huobi, and Binance.

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Alon Shvartsman
Last updated: September 20, 2022
Alon Shvartsman
Last updated: September 20, 2022
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Most Popular Bitcoin Exchanges in Taiwan

Popular

Kraken is the most popular Bitcoin exchange in Taiwan with 6,000,000 users

Visit Kraken

User-friendly

Huobi allows buying and selling Bitcoin with 4 forms of payment

Visit Huobi

All Around

Binance accepts users and payments from 190 countries

Visit Binance
Kraken

Ease of Use

Easy

Fees

Average

Verification

2-3 Days

Reputation

Trusted

With millions of active users, an international market, and strategic investors on board, Kraken, joins Coinbase and Binance to become the big three cryptocurrency exchanges in the global market.

Huobi

Ease of Use

Medium

Fees

Average

Verification

1-2 Days

Reputation

Trusted

Launched in 2013, Huobi is the 5th largest cryptocurrency exchange in the world by volume and boasts a 24-hour trading volume of $26 Billion.

Binance

Ease of Use

Medium

Fees

Low

Verification

1 Day

Reputation

Trusted

Within 8 months of launching in July 2017, Binance quickly skyrocketed into the world's largest cryptocurrency exchange by trading volume, processing more than $1 billion on a daily basis.

Buying bitcoin and cryptocurrencies in Taiwan

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Buying bitcoin and other cryptocurrencies in Taiwan is a simple process and usually takes less than 10 minutes to get fully setup.

The first step is to register with a platform, app or exchange and complete a Know Your Customer (KYC) process.

Bitcoin hardware wallets

The exchange you choose will be interoperable with most devices, desktop and mobile, and will allow you to withdraw to your own personal hardware wallet.

here are also several options available for buying and selling without verification on P2P exchanges, although they are much less user-friendly and are recommended for more advanced users.

Requirements to buy cryptocurrency in Taiwan

Before purchasing, there are a couple of important things you'll need to prepare:

  • A passport, national identity card, or driver’s to complete the KYC process.
  • A private and secure internet connection, public WiFi is not recommended as it may pose security problems.
  • A mobile phone to verify your identity using two-factor authentication (2FA).
  • A bank account or credit card you can use to make fiat currency deposits to purchase cryptocurrencies.
  • A crypto wallet to store your assets. Almost all exchanges will offer built-in wallets, but it is important to withdraw your crypto to your own personal cold wallet for optimal security.

Steps to Buy Cryptocurrency in Taiwan

1. Create an account with an exchange

Taiwan has 3 trusted exchanges available for you to sign up for, with the most popular being Kraken and Huobi, which account for a combined 7,000,000 active users.

Both exchanges are considered to be beginner-friendly and offer multiple deposit methods and a variety of cryptocurrencies.

Exchanges will differ by fees, security, payment methods, and other features, so explore the "info" tab on the exchanges listed above to find which one is the right fit for you.

The platform you end up choosing will depend on your preferences and the cryptocurrencies and payment methods they support.

Also it's important to note that you can always sign up to other exchanges later.

2. Complete the KYC verification process

After signing up to an exchange you will need to verify your identity and address, which is part of the Know Your Customer (KYC) process. This is an unavoidable legal requirement for almost all exchanges in Taiwan.

To complete this step you will need your photo ID readily available to take pictures of both the front and back sides of the document.

In most cases your verification will be approved instantly and at most can take 1-2 days.

3. Make a fiat deposit

To begin buying bitcoin and other cryptocurrencies you will need to link a bank account or credit card to the exchange.

Some of the payment methods provided by Kraken and Huobi are: Electronic Funds Transfer, Bank Transfer (SEPA), Wire Transfer.

Depending on the payment method, it could take anywhere from a couple of minutes to days for the funds to arrive at the exchange.

4. Buy cryptocurrency

Deposit fiat for bitcoin

Once your account has been funded, you are ready to buy your first bitcoin. It's important to note that you do not need to buy a full bitcoin.

Most exchanges will let you buy as little as a few dollars worth of bitcoin, or any other cryptocurrency.

5. Send your bitcoin to a personal wallet

Bitcoin hardware wallets

Once you've purchased bitcoin or your cryptocurrency of choice it's important to withdraw it to your own secure personal wallet.

Leaving your coins on an exchange poses a security risk as many exchanges are targets for hackers to steal user funds. Storing your own coins on your personal hardware wallet mitigates that risk.

Is Bitcoin legal in Taiwan?

Frequently Asked Questions

?What is the best exchange to buy bitcoin from in Taiwan?

There are 3 trusted exchanges operating in Taiwan with the most popular being Kraken , Huobi , and Binance.

You can review each of these exchanges and find best exchange that works for you. Bitrawr ranks exchanges in Taiwan based on fees, users, and security while giving placement preference to exchanges located in Taiwan or specifically catering to users in Taiwan.

?Can you buy bitcoin anonymously in Taiwan?

Yes, you can buy bitcoin safely and anonymously by using P2P (Peer to peer) exchanges like Bisq, Paxful, LocalSwap and LocalBitcoins.

?Can you buy bitcoin in Taiwan using debit or credit cards?

Most of the exchanges operating in Taiwan have debit/credit card payment options available. Remember that this requires completing KYC.

?Should I leave my bitcoin on an exchange after buying?

No! For complete custody of your Bitcoin or other cryptocurrencies it is recommended to store them in a hardware wallet as it keeps private keys safe and entirely offline.

?Can you buy bitcoin using cash in Taiwan?

Bitcoin ATMs are an excellent way to buy bitcoin using cash and offer little to no requirements for KYC. ATMs are commonly located inside of convenience stores, shops, restaurants, malls or airports. Find one near you using our ATM map.

?Can you buy bitcoin futures in Taiwan ?

Yes, popular Bitcoin futures exchanges like Bitmex, Deribit, and FTX enable users to long or short BTC with up to 100x leverage.

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