Hi. If you want to exchange Bitcoin to fiat, then send the money to a Taiwanese bank account in NTD, which exchange platform would you use?
Bitstamp has good rates, have used it before, reliable, just don’t know the cost for a bank transfer to Taiwan. Just sent them an email.
I don’t think it’s swift, but if you’re able to open a MaiCoin account I think you can withdraw to a bank account. I’m sure you can buy bitcoin that way. There’s also localbitcoins where you can buy and sell.
Thanks, I thought a Swift transfer was anything that is not SEPA. My mistake then. Any international transfer will do. Will check MaiCoin to see if their rates are as good as Bitstamp.
Other question: do banks in Taiwan ask questions if you send money on a monthly basis due to cryptocurrencies (Bitcoin) related activity?
Maybe, if the source has been flagged as a suspect for money laundering or other criminal activity. MaiCoin is local and supposedly follows regulations. That’s what I’d deal with, or localcoins through which you deal with individual buyers, but with a markup.
Unless you specifically have the need to, you can receive money in a bitcoin wallet and then transfer it to your bank less than monthly. Convert it to a stablecoin while you wait if you’re worried about the price dropping.
Sounds good. Thanks.
Ace.io is a Taiwan-based exchange that can use the normal bank transfer system in Taiwan to transfer TWD. They even allow foreign nationals to use it!
Thanks, will check it out.
Also found Bitoex but don’t know if it’s reliable https://www.bitoex.com/?locale=en
Bitoex is mostly very reliable, at least on purchasing BTC by registered bank account.
Good to know, thanks.
By the way seeing the price movement of yesterday is a reminder than BTC still sucks as a currency. There is a guy on a forum who lost 900 USD just because Coinbase was dragging their feel on approval.
Start the telethon!! 900 USD!!
They ask what the transfer is for every time you send or receive funds in my experience, but they never ask follow up questions.