The cryptocurrency market is currently undergoing a correction phase, with Bitcoin dropping below $40K and Ethereum below $3K. For those considering entering the market or buying the dip, this guide will walk you through opening accounts and making initial deposits at reputable exchanges.
Recommended Cryptocurrency Exchanges
Here are four beginner-friendly exchanges supporting Traditional Chinese:
- ACE Exchange - Taiwan's first legally compliant platform with zero trading fees
- MAX Exchange - Taiwan's pioneer cryptocurrency exchange
- Binance - The world's largest crypto exchange by trading volume
👉 Compare exchange features and fees
Account Opening Process
ACE Exchange Registration
Step 1: Download the Mobile App
Available on iOS and Android
Step 2: Account Registration
Use invitation code: 06136664
Step 3: Identity Verification (KYC)
- Upload ID documents
- Take a selfie with your ID
- Processing time: ~5 business days
Step 4: Bank Account Binding
- Connect your Taiwanese bank account
- Special benefits available for KGI Bank users
Step 5: Deposit Methods
- Bank transfer (recommended)
- Credit card purchases via third-party Switchere
MAX Exchange Registration
Key Requirements:
- Email and mobile verification
- Two forms of ID
- Taiwanese bank account
Processing Time:
- Level 1 verification: ~15 minutes
- Full verification: 3-7 business days
Binance Registration
Verification Levels:
- Intermediate: $50K daily limit
- Advanced: $200K daily limit
Security Features:
- 2FA authentication (SMS + Google Authenticator)
- Face recognition technology
Deposit Methods Compared
| Feature | ACE | MAX | Binance |
|---|---|---|---|
| Bank Transfer | ✅ | ✅ | ❌ |
| Credit Card | ✅ | ❌ | ✅ |
| Processing Time | 3-5 days | 1-3 days | Instant |
| Fees | 0% | Varies | 2-3% |
👉 Learn how to reduce trading fees
FAQ Section
Q: Which exchange is safest for beginners?
A: ACE and MAX are both Taiwan-based and fully regulated, making them excellent choices for first-time users.
Q: How long does verification take?
A: Typically 3-7 business days, though Binance often completes verification within hours.
Q: Are there alternatives to credit card deposits?
A: Yes, bank transfers generally have lower fees. Some exchanges also support P2P trading.
Q: What's the minimum deposit amount?
A: Varies by exchange, but most platforms allow deposits as low as $10 equivalent.
Q: Can I use foreign bank accounts?
A: The exchanges listed primarily support Taiwanese banks, except Binance which accepts international accounts.
Key Takeaways
- Start small - Begin with test transactions before larger deposits
- Diversify platforms - Consider using multiple exchanges for different features
- Security first - Always enable 2FA and use strong passwords
For ongoing support, visit ACE's physical locations in Taipei or Taichung, or join their official community groups.