Cryptocurrency has taken the financial world by storm, with Bitcoin leading the charge as one of the most popular digital assets. If you're new to this space and wondering how to get started, you're not alone. The first step to entering the crypto market is simple: choose and register on a reliable exchange.
This comprehensive guide walks you through everything you need to know about getting started with cryptocurrency investing — from understanding what crypto is, to choosing an exchange, completing registration, depositing funds, and making your first purchase. Whether you're in Taiwan or elsewhere, this beginner-friendly roadmap will help you buy your first Bitcoin confidently and securely.
What Is Cryptocurrency?
Cryptocurrency is a digital or virtual form of money that uses blockchain technology to operate in a decentralized manner — meaning it isn't controlled by any central authority like a government or bank. The most well-known cryptocurrency is Bitcoin (BTC), but thousands exist today, including Ethereum (ETH), Solana (SOL), and many others.
Unlike traditional currencies, cryptocurrencies are secured using cryptography, making them extremely difficult to counterfeit. Transactions are recorded on a public ledger (the blockchain), ensuring transparency and security.
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Why Invest in Cryptocurrency?
The appeal of crypto lies in its potential for high returns, 24/7 market access, and financial inclusivity. Even during bear markets, strategic investors can profit using tools like crypto contracts, which allow trading in both rising and falling markets.
Some key reasons people invest in crypto include:
- High growth potential: Early Bitcoin investors saw life-changing returns.
- Diversification: Crypto adds a non-correlated asset class to your portfolio.
- Accessibility: Anyone with internet access can participate.
- Innovation exposure: Investing in crypto means supporting cutting-edge tech like DeFi, NFTs, and Web3.
But remember: high reward comes with high risk. Market volatility, regulatory changes, and security concerns are real challenges every investor must consider.
Choosing the Right Cryptocurrency Exchange
An exchange is a platform where you can buy, sell, and trade cryptocurrencies. For beginners in Taiwan or other regions, selecting a user-friendly, secure, and locally accessible exchange is crucial.
While some international platforms restrict local currency deposits, certain exchanges support TWD (New Taiwan Dollar) trading pairs and offer localized customer service.
Key features to look for in an exchange:
- Support for TWD deposits/withdrawals
- Strong security measures (e.g., two-factor authentication, cold storage)
- Simple KYC (Know Your Customer) verification process
- Low trading fees
- Intuitive interface for beginners
Step-by-Step Guide to Buying Your First Bitcoin
1. Register on a Trusted Exchange
Start by signing up on a reputable cryptocurrency exchange. Look for one that supports Taiwanese users and offers TWD funding options. During registration, you'll provide basic personal information such as your name, email address, and phone number.
2. Complete KYC Verification
Most regulated exchanges require identity verification to comply with anti-money laundering (AML) laws. You'll typically need to upload:
- A government-issued ID (e.g., national ID card or passport)
- A selfie holding your ID
- Proof of address (sometimes)
Verification usually takes minutes to a few hours.
👉 Begin your journey — verify your account and unlock full trading features now.
3. Deposit Funds Using TWD
Once verified, navigate to the deposit section and select TWD. Most exchanges support local bank transfers or third-party payment gateways. Transfer the amount you'd like to invest — even small amounts like $500 TWD can get you started.
4. Buy Bitcoin or Other Cryptocurrencies
With funds in your account, go to the trading page. Search for BTC/TWD pair, enter the amount you want to buy, and confirm the transaction. Congratulations — you now own Bitcoin!
You can store it in your exchange wallet temporarily or transfer it to a private hardware wallet for enhanced security.
Understanding Crypto Contracts: Trade in Bull and Bear Markets
Beyond simple buying and holding, advanced traders use crypto derivatives such as futures and perpetual contracts to profit regardless of market direction.
Types of crypto contracts include:
- Perpetual Contracts: No expiration date; ideal for long-term leveraged positions.
- Delivery Contracts: Expire at a set date; settled in crypto or cash.
- USDT-Margined Contracts: Denominated in stablecoins like USDT; easier to track P&L.
- Coin-Margined Contracts: Collateralized in the same cryptocurrency being traded (e.g., BTC).
These instruments allow leverage (e.g., 10x or 50x), amplifying both gains and losses. They’re powerful tools but come with significant risk — especially for beginners.
⚠️ Tip: Start with small positions and use stop-loss orders to manage risk.
Dollar-Cost Averaging: A Smart Strategy for New Investors
One of the most effective strategies for beginners is dollar-cost averaging (DCA) — investing a fixed amount at regular intervals (e.g., weekly or monthly), regardless of price.
For example:
- Invest $1,000 TWD every week into Bitcoin
- Over time, you buy more when prices are low, less when high
- Averages out your entry cost and reduces emotional decision-making
Studies show that consistent DCA into Bitcoin over 5–10 years has historically yielded strong returns, even after major market crashes.
Let’s say you invested $1,000 TWD weekly since 2017:
- Total invested: ~$260,000 TWD
- Value today: potentially over $1 million+ (depending on timing and price)
Of course, past performance doesn’t guarantee future results — but the principle remains sound.
Frequently Asked Questions (FAQ)
Q: Can I buy Bitcoin with TWD in Taiwan?
A: Yes. Many exchanges support direct TWD deposits via bank transfer or third-party payment systems, allowing you to purchase Bitcoin instantly.
Q: Is cryptocurrency legal in Taiwan?
A: Yes. While not considered legal tender, crypto trading and ownership are permitted. Exchanges must comply with AML regulations.
Q: How do I keep my crypto safe after buying?
A: Use strong passwords, enable 2FA, and consider moving funds to a hardware wallet (like Ledger or Trezor) for long-term storage.
Q: What’s the difference between a spot trade and a futures contract?
A: Spot trading means buying actual crypto for immediate ownership. Futures involve betting on future prices without owning the asset.
Q: Are there fees when buying crypto?
A: Yes. Exchanges charge trading fees (typically 0.1%–0.5%), withdrawal fees, and sometimes deposit fees depending on the method.
Q: Can I lose money investing in crypto?
A: Absolutely. Prices can drop sharply in short periods. Only invest what you can afford to lose.
Final Tips for Getting Started
- Start small – Test the waters before committing large sums.
- Educate yourself continuously – Follow trusted sources and learn technical analysis.
- Avoid FOMO (fear of missing out) – Don’t chase pumps; stick to your strategy.
- Use secure practices – Never share private keys or recovery phrases.
- Stay updated – Regulations and market conditions change rapidly.
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By following this guide, you now have a clear path from zero knowledge to owning your first cryptocurrency. Whether you're interested in long-term holding, DCA strategies, or exploring advanced tools like contracts, the world of digital assets is now within reach.
Remember: Success in crypto isn’t about timing the market perfectly — it’s about starting early, staying informed, and managing risk wisely.