Choosing the right cryptocurrency exchange is one of the most critical steps for both beginners and experienced investors in Taiwan. With the digital asset market growing rapidly, selecting a secure, compliant, and user-friendly platform ensures peace of mind and smoother trading experiences. This comprehensive guide walks you through the registration processes, KYC (Know Your Customer) verification, and key features of Taiwan’s top four regulated exchanges: MAX, BitoPro, HOYA BIT, and XREX.
We’ll also break down what makes an exchange trustworthy, compare fees and security measures, and offer expert tips to help you make an informed decision.
Why Choose a Legitimate Cryptocurrency Exchange in Taiwan?
In a volatile market filled with risks, using a legally compliant exchange significantly enhances your fund protection and transaction safety. Here are three core reasons why choosing a regulated platform matters:
Regulatory Compliance with Financial Authorities
While Taiwan hasn’t yet passed a dedicated crypto law, all legitimate exchanges must comply with anti-money laundering (AML) regulations. The Financial Supervisory Commission (FSC) maintains an official list of virtual asset providers that have completed AML compliance declarations. As of now, 26 platforms are on this list. By choosing one of these declared operators, you reduce exposure to fraud, scams, and illicit financial activities.
TWD Escrow via Partner Banks
Licensed exchanges in Taiwan typically partner with local banks—such as Far Eastern International Bank—to hold customer TWD funds in segregated trust accounts. This means your money is kept separate from the exchange’s operational funds, adding a crucial layer of financial security.
Advanced Fund Security Mechanisms
Top-tier exchanges go beyond basic compliance by implementing:
- Cold wallet storage for majority of assets
- Two-factor authentication (2FA)
- Proof of Reserves (PoR) audits
- Real-time monitoring systems
These safeguards help prevent hacks and unauthorized access.
What You Need: Documents for Exchange Registration
Before starting the sign-up process, prepare the following:
- Government-issued ID (National ID card)
- Second ID (Health Insurance Card with photo, Passport, or Driver’s License)
- Active email address
- Mobile number registered under your name
- Local bank account for deposits/withdrawals
Now let’s dive into each exchange’s step-by-step registration and KYC process.
Step-by-Step: Opening Accounts on Taiwan’s Top 4 Exchanges
MAX Exchange – Trusted & Feature-Rich Trading Platform
Launched by Maicoin in 2018, MAX supports multiple cryptocurrencies and seamless TWD deposits/withdrawals. It offers competitive trading fees ranging from 0.028% to 0.150%, depending on user tier.
MAX Registration Process:
- Visit MAX website or download the app.
- Enter your email and create a password.
- Verify your email via confirmation link.
- Add your mobile number and complete SMS verification.
- Input personal details: full name and ID number.
- Upload front/back photos of your National ID + a second ID (e.g., health card or passport).
- Take a selfie holding your ID and a note stating “For MAX registration only + today’s date.”
- Wait 3–5 business days for review.
👉 Discover how to secure your crypto assets with advanced trading tools today.
BitoPro – Supermarket Crypto Purchases Made Easy
BitoPro stands out with its “buy crypto at convenience stores” feature. Backed by Far Eastern Bank for TWD custody, it offers over 20 cryptocurrencies and 36 trading pairs.
Trading fees: 0.1% (Maker), 0.2% (Taker) — with discounts available.
BitoPro Registration Process:
- Go to BitoPro’s website or install the app.
- Click “Sign Up,” enter email and password.
- Confirm your email to complete Level 1 verification.
- Proceed to identity verification: upload both sides of your ID.
- Complete facial recognition scan.
- Fill in personal info from your ID.
- Link your local bank account.
- Approval usually takes 1–3 business days.
HOYA BIT – Beginner-Friendly & Intuitive Design
HOYA BIT emphasizes simplicity, making it ideal for new investors. It also offers a “Daily Earn” feature for passive income generation.
Note: Trading includes a built-in 0.2%–1.2% payment processing fee, but no charges for TWD deposits/withdrawals.
HOYA BIT Registration Process:
- Download the HOYA BIT mobile app.
- Tap “Register” on the homepage.
- Enter email and set password.
- Confirm six-digit code sent to your inbox.
- Bind phone number and set a fund password.
- Provide name, ID number, and date of birth.
- Upload National ID and complete face scan.
- Submit second ID (health card, driver’s license, or passport).
- Link your bank account directly in-app.
- Review time: just 1–2 business days.
HOYA BIT also offers an active LINE official community, perfect for newcomers seeking guidance and real-time support.
XREX – Global Focus with Stablecoin Integration
Originally built for cross-border payments in emerging markets, XREX now serves retail users with TWD and USD on/off ramps. It supports 120 spot trading pairs, with fees between 0.05%–0.2%.
XREX Registration Process:
- Download the XREX app.
- Register with email and verify via code.
- Add mobile number and confirm via SMS.
- From the top-right menu, select “KYC Verification.”
- Choose individual or business account; fill in occupation.
- Upload ID documents and take a verification selfie.
- Wait 5–10 business days for approval—longer due to enhanced compliance checks.
How to Choose the Right Exchange: 5 Key Factors
1. Security Standards
Always prioritize platforms that offer:
- Cold wallet storage
- Two-factor authentication (2FA)
- Proof of Reserves
- Bank-held TWD escrow
Exchanges like MAX and BitoPro even have insurance coverage for digital assets.
2. Transparent Fee Structure
Compare:
- Trading fees (maker/taker rates)
- Deposit/withdrawal costs
- Hidden charges like payment processing fees
For high-frequency traders, lower-tier fees matter most; casual users may value simplicity over marginal savings.
3. Supported Cryptocurrencies
Check if your preferred coins (e.g., BTC, ETH, SOL, USDT) are available. XREX leads with broader international support, while HOYA BIT focuses on major assets.
4. User Interface & Experience
A clean, intuitive interface reduces errors—especially for beginners. HOYA BIT excels here with guided flows and minimal clutter.
👉 Start trading on a globally trusted platform designed for all experience levels.
5. Customer Support Quality
Look for:
- 24/7 live chat or weekday phone support
- Chinese-language assistance
- Active social communities
MAX offers weekend text support; HOYA BIT’s LINE group provides peer-to-peer learning opportunities.
Frequently Asked Questions (FAQ)
Q: Is KYC mandatory on all Taiwan crypto exchanges?
A: Yes. Under Taiwan’s Anti-Money Laundering Act, all regulated platforms require identity verification to prevent illicit activities.
Q: Can I use a foreign ID to register?
A: Most exchanges require a Taiwanese National ID or ARC (Alien Resident Certificate) for full access to TWD banking features.
Q: How long does KYC approval take?
A: Typically 1–5 business days, though XREX may take up to 10 days due to stricter checks.
Q: Are my funds safe if the exchange shuts down?
A: On compliant platforms, TWD is held in trust accounts—legally protected even during insolvency.
Q: Do I need to pay taxes on crypto gains in Taiwan?
A: Yes. Starting 2025, capital gains from cryptocurrency will be taxable under new regulations.
Q: Can I trade USDT without KYC?
A: No—Taiwan’s regulated exchanges require full KYC even for stablecoin trading.
Final Thoughts: Which Exchange Is Right for You?
| Use Case | Recommended Platform |
|---|---|
| Beginners seeking ease of use | HOYA BIT |
| Frequent traders wanting low fees | MAX |
| Users wanting to buy crypto at 7-Eleven | BitoPro |
| Those involved in global or USD-denominated trades | XREX |
Regardless of your choice, always practice good security hygiene—enable 2FA, use strong passwords, and consider diversifying holdings across platforms.
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By understanding each exchange’s strengths and aligning them with your needs, you can confidently begin your cryptocurrency journey in Taiwan—safely, legally, and efficiently.
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