How does cryptocurrency withdrawal work? Which platforms support TWD withdrawals? What if an exchange doesn’t directly support TWD? This guide answers these questions and more.
Recommended Platforms for Cryptocurrency-to-TWD Withdrawals
For Taiwanese crypto users, withdrawing funds in New Taiwan Dollars (TWD) is a common concern. Here are two primary methods:
Method 1: Cross-Exchange Transfers
Most international exchanges don’t support direct TWD withdrawals. Instead, users transfer assets to platforms like MaiCoin that support TWD withdrawals.
Steps:
- Transfer crypto from the original exchange (e.g., Binance) to a TWD-supported platform.
- Sell crypto for TWD.
- Withdraw TWD to a bank account.
⚠️ Caution: Crypto transfers are irreversible! Always double-check addresses and blockchain networks.
Method 2: Direct TWD-Supported Exchanges
For beginners, using a platform that supports TWD end-to-end simplifies the process. Below, we detail two such platforms.
General Tips:
- Compliance matters: Choose exchanges regulated by Taiwanese authorities.
- Check fees, limits, and processing times.
- Test small withdrawals first for security.
Withdrawal Guide 1: MaiCoin
Overview:
- Established in 2013, MaiCoin is a veteran Taiwanese exchange specializing in Bitcoin and altcoins.
- Offers wallet services, blockchain solutions, and beginner-friendly tutorials.
Withdrawal Rules:
- ✅ Supports TWD withdrawals.
- ⏳ Processing: 0–2 business days (longer during holidays).
- 💸 Fee: 15 TWD per withdrawal (no discounts).
- Minimum: 100 TWD.
Steps:
- Log in → Navigate to Wallet.
- Complete identity verification and link a bank account.
- Enter the TWD amount to withdraw.
Selling Crypto for TWD:
- Go to Trade → Select a cryptocurrency (e.g., BTC) → Click Sell.
- Confirm the amount, and the proceeds (TWD) will reflect in your wallet.
Withdrawal Guide 2: Mitrade
Overview:
- Australian-based CFD platform (since 2011) offering crypto, stocks, forex, and commodities.
- Supports TWD deposits/withdrawals and USDT.
Key Features:
- User-friendly interface.
- 24/7 Taiwanese customer support.
- Fast transactions.
Withdrawal Rules:
- ✅ Multiple options: Bank transfer, e-wallets, QR codes.
- ⏳ Processing: Up to 3 business days.
- Free monthly limits apply; fees after exceedance.
Steps:
- Pass KYC verification.
- Navigate to My Account → Withdraw.
- Select amount and confirm.
👉 Explore Mitrade’s TWD-Friendly Services
Withdrawal Guide 3: Binance to MaiCoin
For exchanges like Binance that lack direct TWD support:
- On Binance, go to Assets → Withdraw → Enter MaiCoin’s deposit address.
- Transfer crypto to MaiCoin, then sell for TWD.
Note: Always verify addresses to avoid irreversible losses.
FAQ
Q1: Which platforms offer the lowest TWD withdrawal fees?
A: MaiCoin charges 15 TWD per withdrawal, while Mitrade offers limited free monthly withdrawals.
Q2: How long do TWD withdrawals take?
A: MaiCoin: 0–2 days; Mitrade: Up to 3 days (plus bank processing).
Q3: Are there limits on TWD withdrawals?
A: Yes—check each platform’s policies (e.g., minimums or daily caps).
Final Tips
- Use regulated platforms for security.
- Pre-test small withdrawals.
- Stay updated on regulatory changes.
👉 Learn More About Secure Crypto Withdrawals
Disclaimer: Trading CFDs involves risk. Ensure you understand the terms before investing.