The first step to becoming a professional cryptocurrency trader｜Lazy Bag, a well-known exchange in Taiwan

No matter what new investment you are going to do, you must first understand the risks. That's why I posted an article "Cryptocurrency Investment Miscellaneous - Risks and Basics You Should Know" before introducing the exchange. It roughly explains the risks that may be encountered, the most basic principles of blockchain encryption and related issues related to asset security. Always remember that risk and profit go hand in hand. This is a place with high risk and high reward. If you decide to If you want to start investing in cryptocurrencies, this article will be a good place for you to do a little comparison and try to find your favorite exchange as your first step in investing in cryptocurrencies! Today, I will introduce three of the largest and most well-known cryptocurrency exchanges in Taiwan. I will introduce their profiles and platform features for your convenience.

Basically, because of the fear of illegal money laundering, government regulations have clearly required that exchanges set up in Taiwan must do real-name verification (Know Your Customer, KYC) before they can start using the transaction services, so you will need to upload your own information when registering. Personal identity documents and self-portraits and other more personal documents, many people turn around and give up if they can’t cross this hurdle. If you feel that it will be very uneasy to pass these information online, you can also consider opening an account directly at their physical location. Just like a securities account opening a stock, there will be someone to help.

MaiCoin MAX Exchange

Introduction

MaiCoin Group is the oldest digital asset trading group in Taiwan. It was established in 2014 and provides cryptocurrency trading services. Its businesses include MaiCoin platform, AMIS account networking company, Hong Kong MaiCapital and the MAX exchange to be introduced here.

MAX Exchange was established in 2018. In addition to providing common currency-to-currency transactions, there are also NTD-to-cryptocurrency transactions. In addition, MAX cooperates with Far East Bank to assist in cash flow verification. It is the first transaction that entrusts user funds to the bank for custody. Therefore, in order to ensure the safety of users' New Taiwan dollar assets, the first physical store in Taiwan was established in 2019. It is very convenient to ask questions directly to the physical store.

At the moment of writing this article, MAX Exchange ranks 64th in the world exchange on CoinMarketCap, with 16 circulating currencies and 29 different trading pairs to choose from, basically including BTC, ETH, USDT and other mainstream currencies can be traded.

Referral code and platform application discount

MAX Exchange has issued its own MAX Token. As long as the MAX Token is held and used, the transaction fee and withdrawal fee can be deducted. The current discount rate: the transaction fee is 50%, and the withdrawal fee is 20%. %, if you use the invitation code link (https://max.maicoin.com/signup?r=5836d63b), or directly enter the referral code "5836d63b", you can save another 20% of the transaction fee in the future. With the MAX Token payment fee discount of 50%, the total transaction fee savings can be as high as 60%! MAX Token can also be held and locked. In short, the purchased MAX Token is deposited into the MAX platform, and the platform will issue rewards to the lockers every day, which can be regarded as a kind of mining!

If you want to transfer the purchased digital assets to other major exchanges or your own wallet, MAX currently provides two transfer protocols for Tether (USDT): ERC20 and TRC20. TRC20 withdrawal is currently free of fees. Yes, and if you transfer money within the MAX exchange, you don't need to spend the transfer fee.

Other features

"Put virtual currency to receive income" : Currently, MAX Exchange has opened the idle asset income of USDT and USDC stable currency. In short, it is like a bank's survival. Do nothing, just put the money in the platform , it is no problem to use it at any time. The annualized rate of return can be seen here. The current rate of writing the article is 1%, and the interest is paid every day, so you can receive more interest from the interest of the previous day on the next day, with compound interest Effect.

However, if you want to obtain stable income, you need to manually open it. Find "Get Idle Assets Income" on the personal page, and check all the currencies. From the next day after the setting is completed, you will automatically receive income every day. Get a passive income that you can earn while lying down.

"MaiDeFi" : This is a new thing of MAX Exchange, which is the combination word of MaiCoin + DeFi. The so-called DeFi is Decentralized Finance, which generally refers to decentralized finance. If it takes some space to explain, I will bring it here first. It means making money in decentralized applications, but users don’t need to spend time researching how to put money into these applications. Divided into several optional combinations, each with different income, the most advanced risk-taking annualized income is estimated to reach 10%~20%.

But back to what I said earlier, high returns are often accompanied by high risks. Although mindless investment is very convenient, the risk behind these returns may be that the DeFi projects they invest in are hacked, resulting in the loss of funds. In fact, there are assets that return to zero. I personally don’t want to ask others to help me invest in these projects. I always feel that it is safer to do my own research on what I want to invest in (Do You Own Research!).

"Profit and Loss Dashboard (ROI)" : It has an unrealized profit and loss report function that can be presented in real time. I think it is a very good design, which makes it more convenient for everyone to grasp the profit and loss of coins. The detailed algorithm can be found on their official website.

"MAX Token lock-up" : If you purchase MAX platform tokens and lock your positions, you can receive MAX tokens as interest every day, and the source of interest comes from the handling fee of the previous day's transaction, so the annualized remuneration will fluctuate daily, but roughly It falls at about 2.5~5%. In addition, there is another benchmark for the lock-up time as a bonus. If you just lock the position, the time will be added to 0%. The longer the lock-up time is, the higher the time will be. The bonus is 50%.

Suppose I have locked up 10,000 MAX for more than 90 days, if the annualized remuneration on the day is 5%, plus our time bonus of 50%, our annualized remuneration on the day will become 7.5%, and the calculation method is 10,000 (lock-up amount ) * 0.075(annualized interest rate) / 365(days) = 2.054, so I can get 2.054 MAX lock-up interest today.

ACE Exchange Ace Exchange

Introduction

Established in 2018, ACE Exchange is a cryptocurrency exchange under the ABE (Asia Blockchain Ecosystem), the largest blockchain ecosystem in Asia. It is the only cryptocurrency exchange in Taiwan that is subsidized by the government. The ABA Accelerator (Asia Blockchain Accelerator) developed on Binance Smart Chain can be said to be a world-recognized and certified exchange.

ACE Exchange provides NTD and cryptocurrency transactions, and both NTD and cryptocurrencies have trusts. NTD is kept by KGI Bank Trust; cryptocurrencies are insured by the digital currency wallet system CYBAVO to protect customers. For digital asset custody, there are currently three physical stores in Taiwan. If you have any questions, you can directly ask the physical stores. It is very convenient.

At the moment of writing this article, ACE Exchange is ranked 122nd in the world exchange on CoinMarketCap , with 18 currencies in circulation and 21 different trading pairs to choose from, basically including BTC, ETH, USDT and other mainstream currencies. can be traded.

Referral code and platform application discount

ACE's new user activity this year, as long as the registration and transaction-related tasks, can directly obtain USDT (US dollar stable currency) equivalent to NT$1,300, which should be the largest among all exchanges in Taiwan, but only until the end of this year, welcome to use My invitation link , or enter "27005347" in the invitation code field on the registration page. When you complete the registration, both of us can get an additional USDT equivalent to one dollar. (It should be noted that the invitation code of ACE is not like MAX, which can be entered after the account is opened. It can only be entered on the registration page. Once it is missed, it cannot be filled!)

This year's new user bidding activity only started in February and will continue until the end of the year. If you feel that it is too late to complete the account opening action at the end of the year, I think there will still be rich account opening discounts next year, but the content may be different. You can pay attention to their official website. If you decide to apply for an account then, I hope you can come back and use my invitation code to support me, thank you very much.

ACE currently provides three transfer protocols for Tether (USDT): ERC20, TRC20 and Omni. TRC20 withdrawal is currently free of fees, and if you transfer funds within the ACE exchange, you do not need to spend transfer fees. . For more detailed event details, please contact the official website of ACE Exchange .

Other features

"Low Fee" : Currently, ACE's transaction fee is divided into two types. One is the related trading pair of general fiat currency or cryptocurrency, 0% for the maker (Maker) and 0.1% for the taker (Taker); the other is For trading pairs on the Innovation Board, both pending orders and takers are 0.2%. In addition, the deposit and withdrawal of New Taiwan Dollars are 0 fee. For other rates, you can look at their more detailed rate descriptions , but the fee rate may still change, so you should pay attention to it before you trade!

To add, the so-called "Pending Orderer" refers to a transaction order that is placed at a limit price and waiting to be filled, and "Order Taker" refers to a market order that is directly filled, or the amount set by the limit order can be directly filled at the moment. transaction slip.

"ACE Debt Debt Subscription" : This is a kind of debt that users can subscribe for. In short, it means borrowing money, but I haven't seen the official statement that it may be lent to whom or how they will deal with the money. Debt is not usually Yes, there will be one after a while, just like holding an event, and each time the content of the creditor's rights is different. According to the past data, the lent currency is USDT or USDC, and the annualized rate of return is 8~14%. Between 7 and 180 days, the loan time. ACE Debt's interest payment model is weekly, but the principal will not be repaid until five working days after the end of the income calculation period.

"ACE Exchange Exclusive Quotation Robot" : Join the ACE Chinese official Telegram community to get the ACE Exchange exclusive quotation robot for free. The robot has five functions:
1./show→View the currency and price of the currently set reminder
2./add→Set the price and currency to be reminded
3./del→to delete the number
4./mute→Set the robot mute time
5./price→If you want to query the currency pair, you can display the current price, 24hr change, 24hr highest price, 24hr lowest price, 24hr transaction volume

"Crazy Small Coins" : ACE provides many small coins that are on the craze. For example, the recent influx of GameFi-like currency funds, ACE can directly buy many choices, such as ENJ, GALA, ILV, MANA and other coins.

BitoPro Token Exchange

Introduction

Bitto Group can be said to be one of the pioneers of a blockchain company located in Taiwan. It was founded in 2014. Its first service that allows you to buy bitcoins at the convenience store downstairs is really cool! The BitoPro Coin Trust Exchange and BitoEX Coin Trust National Wallet are owned by the Bito Group. In addition to complying with the virtual currency-related norms of Taiwan's financial regulations, and insuring members' encrypted assets, it is the most trusted cryptocurrency investment brand in Taiwan.

The BitoPro currency trust exchange was established in 2018. It has stable NTD deposit and withdrawal services, and provides stable income debt commodities, allowing stable and active investors to choose suitable investment targets according to their own needs.

At the moment of writing the article, BitoPro exchange ranks 170 in the world exchange on CoinMarketCap , with 19 circulating currencies and 33 different trading pairs to choose from, basically including BTC, ETH, USDT and other mainstream currencies can be traded.

Referral code and platform application discount

Since I don't like BitoPro's software service and operation interface, I won't give a recommendation code here, but after all, it is the first platform that can buy coins in a convenience store. I'll still make a supplement here and try to write down its features. If there are any If you are interested, you can go to their official website to find more relevant details.

Other features

"Family Buying Coins Service" : Currently BitoPro has cooperated with major supermarkets, and there are nearly 10,000 supermarkets in Taiwan, and from 2020, the whole family's consumption points can be exchanged for free bitcoin.

"BitoDebt Debt Subscription" : The operating mode of BitoDebt is that enterprises, legal persons or individuals that need to borrow cryptocurrencies apply for a loan from BitoPro. After confirming the solvency and credit rating through a third-party credit investigation, BitoPro provides the loan and obtains the debt; then User subscription is open on the BitoDebt page, and BitoPro provides repurchase.

When we users subscribe for bonds, it is a kind of act of lending our assets to receive interest. The annualized remuneration will fall between 6 and 10%, and the time varies from a few weeks to a few months. After all, we are the lender, and we will There is a borrower, so these remunerations and the number of weeks to be borrowed usually depend on the borrower’s offer and demand, and BitoPro is responsible for connecting the two sides together, and by the way, it acts as a guarantor, so that the lender is not afraid of losing money, and can Stable profit.

"TTCHECK Gift Card" : You can give cryptocurrencies as gifts to relatives and friends, just like gift certificates or commodity cards, but behind these things we usually use are New Taiwan dollars or New Taiwan dollar-denominated gift assets, and the back of this gift card is are different cryptocurrencies. Cryptocurrencies redeemed using Family Points are in this form.

Epilogue

If you have a large transaction amount, I don’t recommend using the Taiwan exchange to buy these mainstream cryptocurrencies, because the pool is not deep, and if you place a market order of tens of millions of Taiwan dollars at a time, amazing things may happen ( Related news: One-click loss of tens of millions! Taiwan Max users re-sold "86 BTC", and Bitcoin crashed to 6,000 and traded at half price) . Later, I will introduce some world-class exchanges. If you want to do your homework first, you can also start with the top ten exchanges , but please always remember that choosing the top ten exchanges is only a scam. The risk is relatively low, which does not mean that there are no other risks!

There is another advantage that these three Taiwanese exchanges have applied for, if there is a sudden need to withdraw several million Taiwan dollars or more in an instant, the withdrawal of multiple exchanges can greatly increase your single-day withdrawal limit.

Since the Taiwan exchange for me is simply used to deposit Taiwan dollars, buy US dollar stablecoins to go to large exchanges with more services, or other decentralized places to play, so I will not choose any one. The ease of use is more important. In terms of overall experience, my recommended order is MAX > ACE > BitoPro .

In the future, there may be an airdrop event to share your profits in the cryptocurrency field with readers and friends who are planning to join the currency circle. A good start will be half the success. If you are interested, remember to follow the new articles!

Finally, thank you for taking time out of your busy schedule to take the time to read my articles. If you still like these content, I hope to get your follow-up and support.

See you next time o((>ω< ))o~

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