Summary: Taiwan's leading cryptocurrency exchanges set themselves apart by securing licenses and strictly complying with regulations enforced by the Financial Supervisory Commission (FSC) of Taiwan. They provide maximum security for Taiwanese crypto investors by maintaining high standards and undergoing thorough audits from autonomous financial institutions.
In this piece, we assess the top five cryptocurrency exchanges in Taiwan, taking into account factors such as intuitive platforms, an expansive range of digital currencies, and competitive transaction fees.
- Buy and sell over 350 cryptocurrencies with industry-leading fees.
- Free and instant TWD deposits via bank transfer, debit cards, credit cards, Alipay and more.
- Regulated and available to investors in Taiwan and trusted by over 120 million investors.
Top Trading Platforms in Taiwan
Our experts have evaluated more than 20 digital asset platforms to outline the top 5 options for investors in Taiwan. To pinpoint Taiwan's best exchanges, we carried out an exhaustive analysis, rigorously examining and contrasting the pros and cons of each platform. Grounded in our research, we have compiled the top 5 crypto trading platforms in Taiwan below.
1. Binance
Binance cements its position as Taiwan's premier crypto exchange, showcasing stringent regulatory adherence and offering a secure, dependable platform for trading digital currencies. Renowned globally, it supports over 350 crypto assets, maintains low 0.1% fees, and offers varied trading options (e.g. Spot & Futures). Its simple interface caters to a broad range of investors, and its security measures ensure trust.
Binance's commitment to regulation, functionality, usability, and security solidifies its role as Taiwan's leading crypto exchange. It provides efficient New Taiwan Dollar (TWD) deposit methods, including bank transfers, credit/debit cards, Alipay, Google Pay, Apple Pay and more.
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2. Bybit
Bybit clinches the second spot as a globally recognized cryptocurrency exchange, headquartered in Singapore and helmed by the respected crypto figure, Ben Zhou. Bybit is celebrated for its focus on cryptocurrency derivatives trading, offering up to 25x leverage on over 300 different crypto assets with 0.01% fees.
Our experts selected Bybit for its round-the-clock customer support in Mandarin and platform accessibility in the same language. Catering to the needs of Taiwanese investors, Bybit prioritizes security, transparency, and privacy. It has incorporated KYC procedures, ensuring absolute transparency and AML compliance, and it also exhibits audited proof of reserves, confirming a 1:1 holding of funds.
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3. OKX
Claiming the third spot among Taiwan's leading cryptocurrency exchanges is OKX, The platform draws Taiwanese investors with its broad range of over 300 cryptocurrencies available for trading, all with competitive fees starting at 0.15% Taker and 0.1% Maker. OKX supports seamless onboarding for investors by accommodating instant New Taiwan Dollar (TWD) deposits via local bank transfers, debit cards, credit cards, Alipay and more.
What distinguishes OKX is its feature-rich platform and simple user interface on iOS and Android, which incorporates a native blockchain for DeFi called OKC Chain, an NFT Marketplace, derivatives trading, and more. These features make OKX a comprehensive and favoured choice for cryptocurrency trading in Taiwan.
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4. Gate.io
Gate.io is a well-regarded exchange and one of the most established globally, founded in 2013 by Lin Han. Headquartered in the Cayman Islands, it has over 12 million registered users across 180 countries. It provides the broadest selection of cryptocurrencies among any centralized exchange (CEX) worldwide, with over 1400 options available.
Our team has chosen Gate.io as the fourth-best exchange in Taiwan primarily due to its extensive array of tokens and its no-KYC, no-ID signup policy. Additionally, it presents a feature-rich trading platform that offers diverse opportunities for trading, staking, loans, mining, and even copy trading. Gate.io also houses an NFT marketplace where users can freely create and mint projects, further enhancing its appeal to Taiwanese investors.
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5. Bitget
Bitget, a notable and new player in the cryptocurrency exchange landscape, rounds out our top five for Taiwan. Established in Seychelles in 2020, Bitget has rapidly expanded its reach and now serves a substantial user base of 2 million investors worldwide. It is particularly known for futures trading, offering traders up to 100x leverage on a variety of cryptocurrency pairs.
Bitget has been selected as the fifth-best exchange in Taiwan due to its high leverage offering, attractive fee structure (0.1%), and strong commitment to user security. Its support for multiple trading pairs and futures trading options, coupled with a customer-centric approach, make Bitget an appealing choice for Taiwanese investors seeking leverage on derivatives.
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Is Crypto Regulated in Taiwan?
Digital assets are an emerging and rapidly evolving field in finance, and their regulation in Taiwan is complex and multi-dimensional. The primary regulatory body governing crypto in Taiwan is the Financial Supervisory Commission (FSC).
The FSC has adopted an active approach towards regulating cryptocurrency, with the aim of promoting the industry's development while protecting Taiwanese investors. To accomplish this, the FSC has promulgated a range of guidelines and regulations applicable to cryptocurrency exchanges. These include stipulations related to Anti-Money Laundering and Counter-Terrorist Financing, in harmony with international standards and practices.
How to Buy Bitcoin in Taiwan
Investing in Bitcoin in Taiwan is a straightforward and secure process, guided by the clear regulatory framework established by the FSC. Here's a succinct guide to assist you in purchasing Bitcoin and other digital assets:
- Choose a Cryptocurrency Exchange: Select a Taiwan-focused exchange like Binance, Bybit, OKX, Gate.io, or Bitget, considering aspects like usability, security, fees, and customer support.
- Register an Account: Sign up on your chosen exchange, typically requiring an email and password. Some platforms may necessitate KYC procedures for identity verification.
- Fund Your Account: Deposit New Taiwan Dollars (TWD) into your account, commonly through bank transfers, debit/credit cards, or digital wallets like PayPal.
- Buy Bitcoin: On the trading platform, choose Bitcoin, input the amount you wish to purchase in TWD or Bitcoin fraction, and confirm the transaction.
- Monitor Your Bitcoin: Keep an eye on your investment due to the fluctuating nature of cryptocurrency prices.
Always remember, investing in cryptocurrencies carries risk. Ensure to conduct thorough research and consider consulting financial experts if uncertain.
Final Thoughts
In summary, Taiwan's cryptocurrency trading environment thrives under progressive regulations with top exchanges like Binance, Bybit, OKX, Gate.io, and Bitget leading the market. These platforms offer unique features, security, and competitive fees, simplifying crypto investing for Taiwanese traders. However, due to the volatile nature of cryptocurrencies, potential investors should approach with caution and conduct thorough research.
Co-Founder & former Investment Banker (Finance MBA) turned Full-Time analyst and Head of Research at Buy Bitcoin Bank. Left traditional finance to pursue my interest in digital assets and decentralized finance.
