We may receive advertising compensation when you click certain products. Before jumping into this page, an important disclosure.
You'll need a Bitcoin wallet before you buy since some exchanges require one.
Don't have a wallet? Read our guide on the best Bitcoin & cryptocurrency wallets.
Coinmama Popular Buy Bitcoin Read Review
Coinmama allows customers in almost every country to buy bitcoin. They charge a 4.9%-5.9% (depends on volume) fee on each purchase.
Customers in Europe can also purchase bitcoins with SEPA transfer for a lower fee.
Want to buy using Coinmama? This step-by-step guide will show you how to use Coinmama.
We may receive compensation when you use Coinmama. Please visit Coinmama for its exact pricing terms.
- Works in almost all countries
- Highest limits for buying bitcoins with a credit card
- Reliable and trusted broker
- Some of the highest fees among credit/debit card bitcoin brokers
Bitpanda Popular Buy Bitcoin Read Review
Bitpanda is a Bitcoin broker based in Europe.
They have high payment limits and low fees across their wide range of payment methods.
Bitpanda offers customers the option to buy bitcoins with credit card, debit card, SOFORT, Skrill, NETELLER, giropay, eps, SEPA, and Online Bank Transfer.
Our guide will show you how to buy bitcoins with a credit card on Bitpanda.
We may receive compensation when you use Bitpanda. Please visit Bitpanda for its exact pricing terms.
- Some of the lowest fees for buying bitcoins with credit/debit card
- Reliable and trusted broker
- Fees aren't shown openly on the site but instead included in the buying price
Kraken Buy Bitcoin Read Review
Founded mid-2011, Kraken is the one of the world's largest cryptocurrency exchanges, and the largest in Europe based on daily average trading volume. It is available in almost all countries. Deposits can be made via bank wire, SEPA, ACH and SWIFT.
- Very low 0.25% taker fee, falling to 0.1% with sufficient trading volume
- Very low maker fee, falling to 0% with sufficient trading volume
- Highly-rated for security and data protection
- Requires ID verification, so not private
LocalBitcoins Popular Buy Bitcoin Read Review
LocalBitcoins is an escrow service which also helps to match bitcoin buyers and sellers. Users may advertise trades for whichever payment method they prefer.
Buying bitcoins via an in-person meeting, secured and facilitated by LocalBitcoins, may be one of the fastest and most private ways to buy bitcoins in any country, including the United States, Europe (besides Germany), UK, Singapore, Canada, Australia and many more.
We may receive compensation when you use LocalBitcoins. Please visit LocalBitcoins for its exact pricing terms.
- Can be private, fast and easy
- In-person trades require no personal information
- Purchases of bitcoin can be made quickly via cash deposit
- Beware of scams; always follow the rules!
- Harder to buy large amounts of bitcoins compared to large exchanges
- Slightly to significantly higher prices than regular exchanges; premium for higher privacy
MaiCoin Popular Buy Bitcoin
MaiCoin is the largest Bitcoin exchange in Taiwan. Customers can deposit funds via cash payment at any Taiwanese ATM, 7-Eleven ibon terminal, or bank counter. Online, clients may pay via bank transfer. MaiCoin also accepts payments from post offices.
- Fast way to buy bitcoin in Taiwan
- No fees; only bank transfer fees apply
- Daily limit of $500,000 NTD may be raised on request
- 7-Eleven ibon method is fairly private; requires only your mobile phone number
- Process for buying with cash may be slightly confusing the first time
- Verification required for most methods; not private
BitoEX Buy Bitcoin
BitoEX is a Bitcoin company based in Taiwan. It allows users to purchase bitcoins at 5,000 FamilyMart convenience stores across Taiwan.
- Fast way to buy bitcoin in Taiwan
- Very low cash purchase charges; 1% BitoEX fee and 25 TWD FamilyMart rate
- Fairly private purchase method, requires only your mobile phone number
- Process may be slightly confusing the first time
- 20,000 TWD buying limit per phone number
Bitcoin ATMs Buy Bitcoin
You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they're also private. That convenience and privacy, however, comes with a price; most ATMs have fees of 5-10%.
- Our map makes it super easy to find a Bitcoin ATM near you
- Bitcoin ATMs often have 5-10% fees per purchase
Mycelium Local Trader Buy Bitcoin
Mycelium Local Trader helps you find local Bitcoin sellers. Once you locate a seller, you meet up in-person and conduct the trade. Mycelium charges absolutely no fees. While Mycelium Local Trader works great in highly-populated areas, users in low population areas will have trouble finding sellers.
- Easy and cheap way to buy bitcoins with cash
- Private way to buy bitcoins, no personal information required beyond cellphone number
- Users in sparsely populated areas will have trouble finding sellers
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Chapter 1
Bitcoin & Cryptocurrency Trading in Taiwan
Taiwan boasts one of the most advanced and futuristic economies in the world. It has a focus on manufacturing, tourism, financial services, but also tech. It does, however, live in the shadow of China, which claims it as its own territory and is, like Hong Kong, always under threat of being invaded or controlled by China.
For this reason, Taiwanese residents are very aware of the need to remain independent and safe from the jackboots of foreign and domestic rulers in anyway they can. Taiwan has, therefore, come a long way in embracing Bitcoin and appears to have a bright future when it comes to fostering a growing environment for the king of cryptocurrencies.
One of the easiest ways to buy Bitcoin in Taiwan is through cryptocurrency exchanges, outlined above. There are several exchanges offering Bitcoin in Taiwan, and you can easily select one based on your requirements and preferences using our guide. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be kept in mind before users select one.
Additionally, Bitcoin buyers need to keep in mind the fact that certain exchanges might require them to get a wallet of their own before they are able to buy the digital currency. Also, it is recommended to have a wallet of your own for security reasons, preferably a hardware wallet. If you don’t have a wallet, refer to our guide on the Best Bitcoin and Cryptocurrency Wallets to choose one.
COMPARISON
Another way to buy Bitcoins in Taiwan is through automated teller machines (ATMs). These ATMs allow users to instantly purchase and sell cryptocurrency using cash, however most of them require at least a phone number, so they aren't totally private. You can locate Bitcoin ATMs in Taiwan using our Bitcoin ATM Map.
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Chapter 2
Top Bitcoin & Cryptocurrency Exchanges in Taiwan
Taiwan has access to many large Bitcoin and cryptocurrency exchanges.
Have a look at our favorites below:
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Chapter 3
Best Bitcoin Wallets for Taiwan
There are three main types of Bitcoin wallet and all of them are supported in Taiwan:
- Software (desktop or mobile - iOS and Android wallets
- Hardware wallet
- Cold-storage (paper or steel wallets, the latter of which are used to backup your main wallet.
Best for Security
Ledger Nano X
Secure storage for any cryptocurrency
Visit WebsiteThe Ledger Nano X is the newest crypto hardware wallet, and is very easy to use. It connects to iOS, Android & desktop computers.
Temporary Wallet
Atomic Wallet
Best for storing crypto for short period of time
Learn MoreAtomic wallet is a multicurrency mobile wallet with a beautiful interface and easy to use features.
Best for Desktop
Electrum
Simple yet powerful desktop wallet
Learn MoreElectrum is a Bitcoin-only wallet that has been around since 2011. It's easy to use, but has advanced features.
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Chapter 4
Exchange Hacks and Crypto Scams in Taiwan
Binance Hack
In May of 2019, Taiwanese based exchange Binance (the worlds largest crypto exchange) had $40 million of Bitcoin hacked from its wallets.
Hackers were able to penetrate an undisclosed security loophole in Binance's safeguards.
More interesting than the hack itself was Binance's initial response to the hack. Specifically the response of CZ, the founder.
He initially talked about re-orging the Bitcoin blockchain in order to get the funds back. A re-org involves orphaning blocks that are undesirable to the attacker, therefore CZ was effectively claiming he would attack the Bitcoin blockchain for the greater good of returning the $40 million in stolen Bitcoin.
However, this would have been impossible for him to do, since this is exactly the kind of behavior Bitcoin is designed to prevent - censoring transactions with proof-of-work.
After this was pointed out to CZ, his response was dismissive, claiming that he simply decided he would not re-org the Bitcoin blockchain. You can see the full thread on twitter here:
After speaking with various parties, including @JeremyRubin, @_prestwich, @bcmakes, @hasufl, @JihanWu and others, we decided NOT to pursue the re-org approach. Considerations being:
— CZ Binance (@cz_binance) May 8, 2019
Many of the responses looked something like this:
Thank you for not doing what you couldn't do even if you wanted to. Really appreciated.
— Golly (@CareNotDude) May 8, 2019
Taiwanese Bitcoin Ponzi
In January of 2019, a 47-year-old man along with 6 other Taiwanese nationals were arrested in connection with a Bitcoin investment ponzi scheme that had amassed $51 million in investment from over 1000 Taiwanese and Chinese citizens.
The scammers promised investors 355% returns over one year. Unfortunately for the investors, the invested Bitcoin would be stolen and never returned.
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Chapter 5
FAQ
Does Coinbase work in Taiwan?
Coinbase ONLY allows crypto-to-crypto conversions for Taiwanese residents as of September of 2020.
Where Can I Find a Bitcoin ATM in Taiwan?
What is the price of Bitcoin in Taiwan?
The current price of Bitcoin in Taiwan is TWD 305,534, however this amount changes every minute, so always check the value on your local exchange.
Are there any Bitcoin OTC desks in Taiwan?
Both Kraken and Maicoin provide OTC large bitcoin buy orders for Taiwanese residents.
How do I cash out of Bitcoin in Taiwan?
Any exchange with a Taiwanese Dollars trading pair will allow you to sell your Bitcoin for fiat currency. Maicoin has TWD trading pairs for many popular coins.
As mentioned previously, you can also use automated teller machines (ATMs) to buy Bitcoin. Find them using our Bitcoin ATM Map.
Local Bitcoins is another option. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. Local Bitcoins is a peer-to-peer (P2P) exchange, where you buy and sell with another individual. This does introduce a degree of risk, though by ensuring that you conduct all business on the platform, make use of its escrow services, and only trade with users who have a good reputation, you'll minimize any potential problems.
You could also use a service like eGifter to sell your Bitcoin for gift cards.
