Best Crypto Exchanges in Taiwan - Regulated Platforms (2023)

Best Crypto Exchanges in Taiwan

In this guide, we have prepared a detailed summary of the top five Cryptocurrency exchanges offering services in Taiwan. Our expert team has provided essential information regarding the security, features, fees, and other details for each platform.

Antony Bianco

Head of Research

min read

April 7, 2023

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Summary: To trade Cryptocurrencies in Taiwan, investors must go through a secure digital asset exchange that supports New Taiwan Dollar (TWD) deposits. To assist Taiwanese traders in finding the most suitable platform, our team has gathered a list of trustworthy exchanges that each provide distinct and diverse features. Certain platforms offer greater functionality, while others prioritize enhanced security measures.

Refer to the below list for a quick overview of the top Cryptocurrency exchanges in Taiwan:

Bybit - Best Overall Crypto Exchange in Taiwan
OKX - Best Exchange for DeFi Products
Binance - Best Global Cryptocurrency Exchange
MaiCoin Max - Best Taiwanese Crypto Exchange
KuCoin - Best Exchange for Altcoins

Website

Best Crypto Exchange in Taiwan

5.0 out of 5.0 by Datawallet.

Bybit is the best Cryptocurrency exchange for Taiwanese investors as it offers free and instant New Taiwan Dollar (TWD) deposits to buy and sell over 400 Cryptocurrencies. The platform can be used in over 30 languages including Mandarin, Cantonese, Japanese and more.

Fees
Free TWD deposits and trading fees start from a competitively low 0.1%.
Security
Non-KYC exchange that provides proof-of-reserves which shows users funds are held 1:1
TWD Deposit Methods
Bank Transfer, Credit/Debit Card, JKOPAY, Line Pay and 10+ more options.

Top Crypto Trading Platforms in Taiwan

Our team has conducted an extensive analysis of the top 40 digital asset exchanges to determine what the best Crypto trading platforms available for Taiwanese investors are. To come to this conclusion, we have compared each of their features, security, fees, TWD deposit methods, and more.

Below you can find a comprehensive guide to the Five Best Crypto Exchanges in Taiwan.

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‍1. Bybit

Bybit is a Singapore-based derivatives trading platform that offers multiple order types including spot, futures, options and margin trading. It has gained popularity among traders due to not having KYC (identity verification) requirements and a wide range of trading tools. Bybit supports spot trading and perpetual futures trading with leverage of up to 100x. Its user-friendly interface also makes it an attractive option for both novice and experienced traders. The exchange offers a wide variety of features including staking, lending and borrowing services plus more.

Fees: TWD deposits and withdrawals are free of charge. For spot trading, the fee is 0.1% and for futures trading, the maker/taker rebate is 0.01%/0.06%.
Supported Assets: Buy and sell 400+ Cryptocurrencies.
Regulation & Licensing: Not regulated by any government authority (hence no KYC requirements), but does provide proof of reserves.
Customer Support Options: 24/7 Mandarin and Cantonese-speaking customer support via live chat, email, and Social Media Communities.
TWD Deposit Methods: Bank Transfer, Credit/Debit Card, JKOPAY, Line Pay and 10+ more options.

To learn more about this platform and its features, visit our detailed Bybit Review.

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2. OKX

OKX is a Hong Kong-based Crypto exchange founded in 2017 by a team Star Xu, a blockchain expert. It is one of the largest exchanges by trading volume and provides a wide range of trading options, including spot and margin trading, perpetual futures, options, and derivatives. The exchange offers leverage of up to 100x on its futures contracts and provides traders with a variety of order types, such as limit, market, and stop orders.

Fees: TWD deposits and withdrawals charge a spread of 0% - 1%, depending on the method. For spot trading, the fee is 0.1% and for futures trading, the maker/taker rebate is 0.02%/0.05%.
Supported Assets: Buy and sell 240+ Cryptocurrencies.
Regulation & Licensing: Licensed in Malta and provides proof of reserves.
Customer Support Options: 24/7 Mandarin and Cantonese-speaking customer support via live chat, email, and Social Media Communities.
TWD Deposit Methods: Apple Pay, Bank Transfer, Credit/Debit Card, and Mega Bank.

To learn more about this platform and its features, visit our detailed OKX Review.

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3. Binance

Binance is a Malta-based Cryptocurrency exchange founded in 2017 by Changpeng Zhao, a software developer with a background in finance. It is currently the world's largest Crypto exchange by trading volume and offers a broad range of trading options, including spot and margin, futures, and options. Binance offers a wide range of features and even has its own blockchain network, BNB chain, and its own token, BNB, which if staked, gives users a discount on fees.

Fees: TWD deposits and withdrawals vary between 0% - 3% depending on the method. For spot trading, the fee is 0.1% and for futures trading, the maker/taker rebate is 0.02%/0.05%.
Supported Assets: Buy and sell 300+ Cryptocurrencies.
Regulation & Licensing: Not regulated or licensed in Taiwan.
Customer Support Options: 24/7 Mandarin and Cantonese-speaking customer support via live chat, email, and Social Media Communities.
TWD Deposit Methods: Credit/Debit Card, Bank Transfer & Line Pay.

To learn more about this platform and its features, visit our ‍Binance Review.

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4. MaiCoin Max

MaiCoin Max is a Taiwanese Crypto exchange founded in 2014 Alex Liu, a Standford University graduate. It is the first Crypto exchange to be licensed by the Taiwanese government and provides users with a variety of trading options, including spot and margin trading, as well as access to over 30 Crypto assets. MaiCoin Max prioritizes user security and has implemented advanced security measures, including multi-factor authentication and biometric verification.

Fees: TWD deposits are free and withdrawals cost $15 TWD. The maker/taker rebate is 0.050%/0.045%.
Supported Assets: Buy and sell 33 Cryptocurrencies.
Regulation & Licensing: Not regulated in Taiwan.
Customer Support Options: 24/7 support is not available, but email, phone, and live chat support is offered between 10AM - 8PM.
TWD Deposit Methods: Bank Transfer.

5. KuCoin

KuCoin is a Seychelles-based Crypto trading platform founded in 2017 by Michael Gan. It offers a wide range of trading options, including spot and margin trading, futures, and options. The exchange supports over 600 Cryptocurrencies and is well-known to be the first platform to list altcoins, memecoins, NFT coins, Metaverse coins, etc. It also offers a mobile app for trading on the go, among other features including staking, loan services and an NFT marketplace.

Fees: TWD deposits and withdrawals are free. For spot trading, the fee is 0.2% fee and for futures, the maker/taker rebate is 0.02%/0.06%.
Supported Assets: Buy and sell 600+ Cryptocurrencies.
Regulation & Licensing: Unregulated hence no KYC requirements.
Customer Support Options: 24/7 Mandarin and Cantonese-speaking customer support via live chat, email, and Spanish-speaking support via its Social Media Communities.
TWD Deposit Methods: Credit/Debit Card.

To learn more about this platform and its features, visit our detailed KuCoin Review.

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It it Legal to Buy Crypto in Taiwan?

Yes, investing in Cryptocurrency is completely legal in Taiwan as there are no specific laws prohibiting the purchasing or ownership of digital assets. The Taiwanese government acknowledges Cryptocurrency as a legitimate asset and allows it to be purchased and held as an investment. Crypto is not recognized as legal tender, and businesses are not required to accept it as a means of payment.

To prevent fraudulent activities and protect investors, the Taiwanese Financial Supervisory Commission (FSC) issued guidelines for the regulation of Crypto-related activities in 2019. The guidelines require the registration of Crypto exchanges, and the implementation of AML policies to prevent illegal activities. While investing in Cryptocurrency is legal, investors must remain cautious and carry out thorough research about what platform they use to invest in the asset class.

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Is Crypto Taxed in Taiwan?

Yes, in Taiwan Cryptocurrency is subject to taxation as it is considered an intangible asset. The gains from the sale or exchange of a Crypto asset are considered taxable income, and the tax rate is calculated based on the taxpayer's total income for the year. Businesses that engage in Crypto-related activities must register with the Taiwanese tax authority and pay taxes on their Crypto-related income.

It is crucial for Taiwanese taxpayers and businesses to report their Crypto-related income and gains to the tax authority and seek advice from a tax professional to ensure compliance with the regulations. By doing so, they can avoid any potential legal consequences and ensure they are paying the appropriate taxes on their Crypto-related activities.

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Bottom Line

In conclusion, Taiwanese investors have a variety of trustworthy cryptocurrency exchanges to choose from, each with distinct features and offerings. Bybit, OKX, Binance, MaiCoin Max, and KuCoin are among the top exchanges in Taiwan, catering to different trading preferences and requirements. While trading cryptocurrencies is legal in Taiwan, investors must remain cautious and comply with the country's tax regulations. It is essential to research and select a secure, reliable platform to ensure a safe and fruitful trading experience.