Best Crypto Exchanges in Taiwan

Best Cryptocurrency Exchange Taiwan

We have thoroughly evaluated the 16 cryptocurrency platforms currently operating in Taiwan to identify the best options. Our assessment focused on compliance with the Financial Supervisory Commission (FSC) regulations, features and services, fee structures, supported tokens, and New Taiwan Dollar (TWD) deposit methods. Below is a comparison table highlighting the top 5 exchanges for Taiwanese investors.

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1. Bybit

Bybit is the leading exchange in Taiwan, with a user base exceeding 39 million and an interface that is available to use in Taiwanese and Mandarin. This platform has over 1,300 digital assets to trade and earn yields on. It supports features like cryptocurrency staking, borrowing and lending, catering to diverse investment approaches.

What sets Bybit apart in Taiwan is its expansive range of trading types, including perpetual contract options. These offer up to 100x leverage and robust liquidity, highlighting its commitment to providing a multifaceted platform. It is among the only exchanges with regularly updated 1:1 proof-of-reserves, providing complete transparency in its holdings.

• Fees: Maker fee of 0.02% and a taker fee of 0.055% for futures trading or 0.1% for spot markets.
• Supported Assets: Over 1,300 digital assets.
• Regulation & Licensing: Secured licenses from tier-1 financial markets authorities and is available in Taiwan.‍
• TWD Deposit Methods: Bank transfers, credit cards, debit cards, Samsung Pay, Apple Pay, Google Pay, Alipay and JKOPAY.

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‍2. Gate.io

‍Gate.io sets itself apart with an expansive selection of over 2,100 cryptocurrencies, enabling users to broaden their investment strategies with choices from stablecoins to various altcoins. It handles more than $5 billion in daily trading volume across both spot and futures order books and supports a thriving user base of over 16 million users.

It enriches the trading experience by offering specialized features like trading bots, copy trading services, and leverage options that reach up to 100x in futures and options markets. Beyond trading, the platform is equipped with an NFT marketplace, a crypto debit card, Dollar-Cost Averaging (DCA) investing, staking services, crypto loans and auctions for parachain slots. 

• Fees: 0.1% for maker orders and 0.2% for taker orders. 
• Supported Assets: Offers over 2,100 digital assets. 
• Regulation & Licensing: Licensed in Seychelles and allowed to operate in Taiwan.‍
• TWD Deposit Methods: Bank transfers and credit card options.

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3. Binance

Binance is known for its vast ecosystem and impressive global user base of over 200 million. Its services go beyond typical spot and futures trading with up to 50x leverage, including features like Binance Earn, which allows users to earn yields on over 350 tokens. Additional offerings include a native wallet, an NFT marketplace, lending and borrowing services and a crypto card.

While it strives to comply with international financial standards, it's important to note that the platform has encountered regulatory challenges in various regions. Taiwanese investors should consider this when considering the platform's adherence to local compliance norms. Binance has robust support for institutional investors with complex trading products like crypto options.

• Fees: 0.1% fee for spot trading, a maker/taker rebate of 0.01%, and 0.06% for derivatives.
• Supported Assets: Over 350 cryptocurrencies.
• Regulation & Licensing: Registered by Taiwanese financial regulators.‍
• TWD Deposit Methods: Bank transfers, Alipay and credit cards.

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4. MaiCoin Max

MaiCoin Max is the most popular Taiwanese trading platform, and it was established in 2014 by Stanford University alumnus Alex Liu. It was the first licensed exchange in the country and offers diverse trading options, including spot and margin, across 30 digital assets. Prioritizing user security, it integrates advanced measures like multi-factor authentication and biometric verification.

As part of the esteemed MaiCoin Group, the largest blockchain technology company in Taiwan, MaiCoin Max is at the forefront of promoting crypto applications. The platform’s compliance with the Financial Supervisory Commission's Money Laundering Prevention Law in 2021 exemplifies its commitment to regulatory adherence and security.

• Fees: A maker fee of 0.05% to 0.035% and a taker fee of 0.15% to 0.105%.
• Supported Assets: 30 digital assets.
• Regulation & Licensing: Regulated with the FSC.‍
• TWD Deposit Methods: Bank transfers only.

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5. KuCoin

KuCoin is one of the most popular exchanges, with a daily trading volume that often exceeds $8 billion. It has a diverse user community of 30 million spread across Taiwan and 200 other countries. It offers an impressive collection of over 700 cryptocurrencies to trade on spot, futures and options markets with leverage options up to 100x.

The exchange places a strong emphasis on transparency by regularly publishing its Proof of Reserves (PoR) to ensure a compliant trading environment. Its appeal extends beyond security, featuring a wide range of features, such as a native blockchain network, KCC Chain, staking options, crypto loans, trading bots and copy trading services. 

• Fees: 0.1% charge for spot trading, 0.02% for maker and 0.06% taker fees for derivatives trading.
• Supported Assets: More than 700 cryptocurrencies.
• Regulation & Licensing: Not regulated in Taiwan but available in the country.‍
• TWD Deposit Methods: Bank transfers and debit or credit cards.

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Is Crypto Regulated in Taiwan?

Yes, cryptocurrency is legal in Taiwan, and the government is moving closer to formal regulation. Recently, the Ministry of the Interior approved the formation of the Taiwan Virtual Asset Service Provider Association, a key step toward industry self-regulation. This association, which includes major exchanges like MaiCoin and BitoPro, aims to create standards for consumer protection and compliance.

Since July 2021, Taiwan’s Financial Supervisory Commission (FSC) has enforced strict anti-money laundering (AML) rules for crypto service providers. In September 2023, the FSC further emphasized customer protection in its guidelines, reinforcing the regulatory framework.

While comprehensive crypto legislation is still pending, Taiwan’s recent initiatives, including the establishment of this industry association, signal a move toward more structured regulation. These efforts are in line with broader trends in other Asian markets, aiming to balance innovation with security in the crypto space.

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How is Crypto Taxed in Taiwan?

In Taiwan, the National Taxation Bureau of Taipei (NTBT) is responsible for taxing crypto transactions. When you sell, trade, or use digital currencies for payments, these activities are considered taxable events. Any gains or profits derived from these transactions must be reported as part of your income, and the tax rate applied will depend on your total income level.

A 5% business tax or VAT is applied when trading digital currencies. This tax affects both local individuals and entities, except for individuals whose monthly sales are under NT$40,000. For foreign companies without a physical presence in Taiwan, the 5% VAT still applies if their transactions with Taiwanese customers exceed this sales threshold.

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How to Buy Bitcoin in Taiwan

For Taiwanese investors new to cryptocurrency, understanding how to purchase Bitcoin through a digital asset exchange is crucial. Here’s a short guide to help you get started:

1. Create an Account: Start by selecting any exchange that operates in Taiwan. Provide your email and phone number to sign up for an account. You’ll also need to complete the verification process, which typically requires submitting a photo ID and proof of address.
2. Deposit New Taiwan Dollars (TWD): Once your account is set up, go to the deposit section and select TWD as your deposit currency. Enter the amount you wish to deposit, and choose your payment method, such as bank transfer or credit card.
3. Choose Bitcoin: Navigate to the trading section of the exchange and search for Bitcoin (BTC). Select the TWD/BTC trading pair to view the current market rate. You can then review the available trading options, such as market orders or limit orders.
4. Execute the Trade: When you’re ready, click 'buy' or 'trade' to purchase Bitcoin. Specify the amount of Bitcoin you wish to buy or the amount you want to spend. Double-check the order details and execute the trade.

This guide outlines the essential steps for users in Taiwan to begin trading Bitcoin, from setting up an account to completing your first transaction.

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Bottom Line

In conclusion, Taiwan's cryptocurrency scene is rapidly evolving, with increasing government support and clearer regulatory efforts. As the country progresses toward more structured oversight, the top exchanges like Bybit, Gate.io, Binance, MaiCoin Max, and KuCoin offer robust platforms for Taiwanese investors to trade digital assets. Whether new to crypto or an experienced trader, these exchanges provide the necessary tools.