Wanna subscribe to our portfolios but have no idea where you can get yourself cryptos? No worries! First off, you have to possess stablecoins at hand to continue your investment.
Steaker supports a selection of stablecoins that you can use for portfolio subscriptions, including those backed 1:1 by fiat currency USD such as USDT, USDT, and BUSD, and the most prominent of the crypto-collateralized stablecoins - DAI. Steaker Wallet even permits the deposit of BTC and ETH to accumulate interest. In this article, you will be taught how to make crypto purchases.
Basically, there are three ways to purchase/top up cryptos via fiat currency TWD: ➊ fiat-to-crypto platforms, ➋ exchanges, and ➌ over-the-counter (OTC) trading. If you already have access to or own cryptos, feel free to make a deposit and subscription at any time! However, to make the trading process less painful for newbies, Steaker has carefully selected four channels below to instruct you in swapping TWD for stablecoins.
1. TWD to Crypto - ZomFast
2. TWD to Crypto - MaiCoin
3. TWD to Crypto - MAX Exchange
4. TWD to Crypto - ACE Exchange
Overview of ➊ Fiat-to-crypto platforms, ➋ Exchanges, and ➌ OTC:
➊ Fiat-to-crypto Platforms
- Popular fiat-to-crypto platforms: MaiCoin, ZomFast, etc.
Fiat-to-crypto platforms seem easier for beginners to come to grips with because usually, their user interfaces (UIs) are clearer, and you can buy/sell cryptos (stablecoins backed by USD) according to their real-time price, which will change on a regular basis to match the current market price; there’s no need to understand what makers and takers or what limit orders and market orders are. However, bid and ask prices will be higher than those of exchanges.
- Popular exchanges that approve purchases via TWD top-up: MAX, ACE, BitoPro, BITGIN, etc.
- Popular exchanges that approve purchases by Visa Card: Binance, Coinbase Exchange, FTX, etc.
Trading cryptos on these exchanges is like trading on the stock exchange; you have to pick up more crypto jargon or learn how to operate their UIs. But normally, they have better bid and ask prices than fiat-to-crypto platforms.
Before doing a swap on the exchanges, you have to complete the know your customer/client (KYC) for identity verification. Some exchanges allow you to add your account of Bank of Taiwan (BOT) to their wallets so that you can buy cryptos via TWD top-up or convenience store payment. Others approve purchases made by Visa Card, yet this method of payment is widely accepted as the least desirable one unless your credit/debit card comes with some extra benefits.
We strongly advise you to refer to CoinMarketCap for cryptocurrency rankings by trending or biggest gainers. The higher the ranking, the exchange score, the traffic, and the trading volumes are, the better!
OTC, short for over-the-counter, refers to decentralized trading in which market participants trade cryptocurrencies directly between two parties without a central exchange or broker.
Usually, this kind of trade is conducted in cash, being one of the options for those in need of swapping a tidy sum of fiat currency for cryptos and leaving no trace in the transaction record. For that reason, it is riskier.
We strongly advise you to ascertain the source of the cryptos as well as the reliability of the channel before making a swap.
To withdraw the cryptos from exchange to Steaker wallet, check How to deposit on Steaker.