How to Buy Cryptocurrency in Taiwan
Buying cryptocurrency in Taiwan
Taiwan benefits from having one of the most futuristic and advanced economies worldwide. Its main focus is on tourism, financial services, but also on tech. However, the country lives in China’s shadow, with China claiming it as its own territory, and in constant fear of falling under China’s control. On the other hand, Taiwan is currently advancing in adoption of cryptocurrency and blockchain technologies, and it’s considered a popular location for startups and hubs, meaning it's entrepreneur-friendly. At the moment, there are lots of ambiguities regarding tax regulation for virtual currencies in Taiwan. The Taiwan Financial Supervisory Commission is yet to propose any regulation regarding various coins. Nevertheless, platform service fees which are charged from sellers and buyers by platform operators are taxed as follows when it comes to business operations - transaction fees derived from income are regarded as sales of labor service and are, therefore, subject to VAT.
As of 20/03/2021
Exchanges Info
These exchanges all accept customers from Taiwan. While they broadly offer the same services and you can buy cryptocurrency at all of them, there can be differences in transaction fees, security, verification requirements, deposit methods and features, as shown below
Bybit
Based in Singapore and registered in the British Virgin Islands, Bybit is a P2P cryptocurrency exchange offering perpetual futures products with 100:1 leverage. Bybit can process 100k transaction per second which is a great feature for leveraged trading.
Advanced and secure technology
- Anonymous accounts
- Attractive trading bonuses
- Very low fees
Limited asset coverage
- No option instruments
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