Introduction to Cryptocurrency: Step One—Buying Coins
Bitcoin, Ethereum, Dogecoin… and even Trump-themed coins! Cryptocurrency seems exciting, but how should beginners start buying coins? It's not difficult—just unfamiliar at first. With a bit of research, you'll quickly get the hang of it.
This guide will walk you through the first step: three beginner-friendly ways to buy crypto in Taiwan in 2025. Once you learn these methods, you can buy coins independently, avoiding scams by never relying on strangers.
Before Buying Crypto: Do You Have a Wallet?
If you don’t have a cryptocurrency wallet yet, there are three primary ways to buy coins:
Ask a Trusted Person to Buy for You
- Simplest but riskiest. Only recommended if you know someone very trustworthy in the crypto space.
- ⚠️ Never ask strangers!
Use a Digital Asset Trading Platform
- Convenient for buying/selling, but you’ll still need an exchange account for further trading.
Buy via a Cryptocurrency Exchange
- Slightly more complex but ideal for future trading. The most popular method.
Comparison of the Three Methods
| Method | Security | Fees | Convenience | Financial Products Available? |
|----------------------------|----------|------------|-------------|-------------------------------|
| Trusted Person | Variable | None | High | No |
| Trading Platform (e.g., Maicoin) | High | Highest | Medium | No |
| Exchange (e.g., Bybit) | High | Low | Highest | Yes |
Method 1: Ask a Trusted Person to Buy for You
Only consider this if you’re absolutely certain about the person’s trustworthiness. Otherwise, the fraud risk is too high.
Method 2: Buy via a Digital Asset Trading Platform
Example: Maicoin
- Sign Up: Complete KYC verification (takes 1 day–2 weeks).
- Deposit Funds: Via bank transfer or convenience stores (e.g., Hi-Life).
Buy Coins: Select a coin (e.g., Bitcoin), enter the amount, and pay.
- Prices update in real-time; lock in your rate before payment.
✅ Pros: Easy for one-time purchases.
❌ Cons: High fees; not ideal for active trading.
👉 Learn how to buy crypto at convenience stores
Method 3: Buy via an Exchange (Best for Long-Term Use)
Example: Bybit
- Register: Complete KYC.
Buy Coins:
- Credit Card: Fast but high fees.
- Bank Transfer (P2P): Lower fees but requires caution.
- Start Trading: Use your coins for trading or yield products.
✅ Pros: Low fees, integrated trading tools.
❌ Cons: P2P carries minor risks.
New User Bonus: Use promo code 21515 for discounts.
FAQs
1. What Are Trading Pairs?
- Example: ETH/BTC means trading Bitcoin for Ethereum. Always check which base currency (e.g., USDT, BTC) you’re using.
2. Are Prices Different Across Exchanges?
- Yes, due to liquidity and demand. Compare rates before buying.
3. How Do I Withdraw Coins?
- Send to a wallet address. Always test with a small amount first!
4. Do I Pay Taxes on Crypto Profits?
- In Taiwan, profits may be subject to income tax. Overseas earnings over NT$1 million/year must be declared.
Deepen Your Knowledge
Final Tip: Stick to exchanges with strong reputations (e.g., Bybit) and avoid unverified P2P sellers. Happy investing!