For those looking to buy and sell cryptocurrencies using New Taiwan Dollar (TWD), understanding Taiwan's virtual currency exchanges is essential. But which exchange is the best? How should you choose among the legendary "Big Three" exchanges?
This guide introduces Taiwan's top three cryptocurrency exchanges, covering their unique features, functionalities, risk control mechanisms, and a comprehensive comparison to help you select the most suitable platform.
Why Use a Taiwanese Cryptocurrency Exchange?
Taiwanese exchanges like MAX, BitoPro, ACE, and XREX comply with Anti-Money Laundering (AML) regulations and allow users to trade cryptocurrencies directly with TWD. Some even offer physical branches for consultations.
Key Benefits:
- Direct TWD-to-Crypto Trading: Only local exchanges support seamless TWD transactions.
- Lower Fees: Trading fees are cheaper compared to international platforms or credit card purchases.
- Beginner-Friendly: Ideal for first-time investors holding TWD who need to convert to crypto before exploring global markets.
Note: Starting December 1, 2024, exchanges must complete regulatory registration. Leading platforms are expected to comply promptly.
Overview of Taiwan’s Top 3 Exchanges
The "Big Three" Taiwanese exchanges are MAX, BitoPro (幣託), and ACE, with MAX currently leading in trading volume and offering competitive fees.
1. MAX Exchange
- Founded: 2018 (under MaiCoin Group, backed by Fubon Financial and SBI Group).
Key Features:
- Low trading fees (0.05% Maker, 0.15% Taker).
- Deep market liquidity and 30+ cryptocurrencies.
- Passive income options (staking, idle asset rewards).
- MAX token for fee discounts (as low as 0.02%).
2. BitoPro Exchange
Highlights:
- Convenient fiat on-ramps (e.g., convenience store deposits).
- Dollar-cost averaging (DCA) and FamilyMart point conversions to Bitcoin.
- Intuitive app design for beginners.
- Fees: Slightly higher (0.1% Maker, 0.2% Taker).
3. ACE Exchange
Pros:
- Active community and frequent promotions (e.g., zero-fee campaigns).
- Advanced tools like grid trading and dual-currency investments.
- Cons: Reputation impacted by 2024 legal investigations; app functionality issues reported.
Comparison Table: MAX vs. BitoPro vs. ACE
| Feature | MAX | BitoPro | ACE |
|---|---|---|---|
| CMC Rank | #112 | #106 | #130 |
| Trust Bank | Far Eastern Bank | Far Eastern Bank | KGI Bank |
| Trading Fees | 0.05%/0.15% | 0.1%/0.2% | 0.05%/0.1% |
| Platform Token | MAX | BITO | None |
| USDT/TWD Price | 32.195 | 32.249 | 32.278 |
| Best For | Long-term investors | Web3 enthusiasts | Promo hunters |
Functional Comparison
| Function | MAX | BitoPro | ACE |
|---|---|---|---|
| DCA | No | Yes | Yes |
| Grid Trading | Yes | Yes | Yes |
| Staking | Yes | No | No |
| Crypto Loans | Yes | No | No |
| Dual-Currency | No | No | Yes |
Risk Management in Taiwanese Exchanges
All three exchanges implement random audits and risk controls. Users may need to provide proof of funds for large transactions to prevent fraud. Note: Legitimate exchanges will never ask for additional deposits during reviews.
How to Use These Exchanges?
- Sign Up: Verify your identity and link a bank account.
- Deposit TWD: Transfer funds from your registered bank.
- Trade: Buy USDT/TWD pairs, then transfer to global exchanges like Binance for broader options.
FAQs
Q: Do these exchanges charge fees?
A: Fees apply for withdrawals and trades, but inactive accounts incur no charges.
Q: Are they safe?
A: While ranked by volume, safety isn’t guaranteed. Monitor updates and withdraw funds if risks arise.
Key Takeaways
- MAX: Best for low fees and liquidity.
- BitoPro: Ideal for Web3 integrations.
- ACE: Suited for promo-driven traders (but caution advised).
Consider registering multiple exchanges to leverage their strengths. For crypto discussions, join our LINE community!
Disclaimer: This content is for educational purposes only. Cryptocurrency investments carry risks; ensure compliance with local laws.