Purchasing cryptocurrency doesn’t have to be complicated. With the right guidance, anyone can complete their first crypto transaction in under 10 minutes—right from a smartphone or computer. This comprehensive guide breaks down the entire cryptocurrency buying process into five clear, actionable steps, complete with practical insights and essential tips to help you get started confidently.
Whether you're new to digital assets or looking to refine your approach, this step-by-step walkthrough ensures a smooth, secure experience. Let’s dive in.
Step 1: Choose a Cryptocurrency Exchange
The easiest way to buy cryptocurrency is through a cryptocurrency exchange—an online platform where users trade digital assets. These platforms offer access to a wide variety of coins and tokens, and most operate 24/7 with intuitive interfaces.
While some exchanges are region-specific, others serve a global audience. For example, local exchanges like MAX Exchange cater specifically to users in Taiwan and support TWD (New Taiwan Dollar) deposits, making onboarding more convenient. However, due to limited liquidity, pricing may not always reflect global market rates.
On the other hand, international exchanges attract traders worldwide, resulting in tighter spreads and more accurate pricing. Though they may not support direct TWD deposits, they offer broader trading pairs and advanced features.
👉 Discover how global exchanges can expand your crypto investment options
Many users adopt a hybrid strategy: start with a local exchange to convert TWD into a widely accepted stablecoin like USDT, then transfer it to a larger global exchange for more diverse trading opportunities.
When choosing an exchange, consider:
- Supported payment methods
- Available cryptocurrencies
- Security measures
- Regulatory compliance in your region
Popular platforms often rank high due to strong user trust, liquidity, and ease of use.
Step 2: Complete Identity Verification (KYC)
After selecting an exchange, the next step is identity verification, commonly known as Know Your Customer (KYC). This standard security procedure helps prevent fraud, money laundering, and unauthorized access.
The process typically involves:
- Uploading a government-issued ID (e.g., passport or national ID card)
- Taking a live selfie or recording a short video
- In some cases, providing basic financial information
This step usually takes less than five minutes and is similar to opening a bank account online. Most reputable exchanges require KYC before allowing trades—this isn’t a restriction but a sign of legitimacy and user protection.
While a few platforms allow trading without verification, these often come with lower withdrawal limits and reduced security. For serious investors, completing KYC is a small price to pay for enhanced safety and functionality.
Step 3: Deposit Funds Into Your Account
Before buying crypto, you need to deposit funds into your exchange account—a process known as “funding” or “depositing.” Unlike stock trading, where settlement happens after execution, crypto platforms require pre-funded balances.
If using a Taiwan-based exchange like MAX:
- Navigate to the deposit section
- Select TWD as your currency
- Generate a unique bank transfer account number
- Use your banking app to send funds
Transfers in TWD are typically processed within 3–5 minutes. For international transfers in USD via wire, allow up to one business day.
Once confirmed, your account balance will reflect the deposited amount, ready for trading. Always double-check deposit addresses and network details to avoid irreversible mistakes.
👉 Learn how fast and secure crypto funding can be on trusted platforms
Step 4: Select the Cryptocurrency You Want to Buy
With funds in your account, go to the trading interface and choose the digital asset you’d like to purchase. You’ll see various trading pairs such as:
- BTC/TWD (Bitcoin priced in New Taiwan Dollar)
- ETH/USDT (Ethereum priced in Tether)
- USDT/TWD (Tether priced in TWD)
The part before the slash (/) indicates the cryptocurrency you’re buying; the part after shows what you’re paying with.
You’ll notice that TWD pairs offer fewer options compared to USDT pairs. That’s because USDT (Tether) is one of the most widely used stablecoins—pegged to the US dollar and accepted across nearly all exchanges.
Many traders follow this strategy:
- Buy USDT with TWD
- Use USDT to trade for BTC, ETH, SOL, or other altcoins
This two-step method unlocks access to hundreds of additional cryptocurrencies not available through direct fiat pairs.
Step 5: Place Your Buy Order
Now comes the final step: placing your order. On the trading page, you’ll see real-time data including the latest price, order book (bid/ask), and trading volume.
Two common order types are:
- Market Order: Buys immediately at the current market price—fast but potentially less precise
- Limit Order: Lets you set a specific price at which you want to buy—more control, but execution depends on market movement
For better pricing control, many users prefer limit orders. Here’s how it works:
- Enter your desired price per coin (e.g., 31.5 TWD per USDT)
- Specify the quantity (e.g., 100 USDT)
- The total cost updates automatically (e.g., 3,150 TWD)
You don’t need to buy whole coins—one can purchase 0.001 BTC or even smaller fractions, as long as the minimum trade value (often around 250 TWD) is met. This makes high-priced assets like Bitcoin accessible even with small budgets.
Once submitted, your order appears in the “Open Orders” section. It remains active until filled or canceled—an advantage over traditional markets with time-limited orders.
What to Do After Buying Crypto?
After acquiring cryptocurrency, you have several options:
- Hold for long-term appreciation
- Trade for other digital assets
- Transfer to another exchange for broader opportunities
- Stake or lend through crypto yield programs to earn passive income
For instance, many users buy USDT on MAX, transfer it to a global exchange like OKX, then explore advanced trading features or staking options.
Frequently Asked Questions (FAQ)
Can I buy less than one cryptocurrency?
Yes! Cryptocurrencies are divisible. You can buy fractions like 0.001 BTC or 50 USDT—ideal for budget-conscious investors.
How fast does a crypto purchase settle?
Transactions settle instantly on most exchanges. Once your order executes, the coins appear in your account immediately.
Is identity verification mandatory?
Most regulated exchanges require KYC for trading and withdrawals. It enhances security and compliance but may limit anonymity.
What’s the difference between market and limit orders?
A market order executes instantly at current prices; a limit order waits for your specified price, offering more control but no guarantee of execution.
Can I sell crypto the same way I buy it?
Absolutely. Simply switch from “Buy” to “Sell” in the trading interface and follow similar steps to convert crypto back into fiat or stablecoins.
Are there fees for buying crypto?
Yes—exchanges charge trading fees (usually 0.1% or less), deposit/withdrawal fees, and sometimes spread markups. Always review fee structures beforehand.
Final Thoughts: Start Smart, Trade Confidently
Buying cryptocurrency is now as straightforward as online shopping—if you know the steps. The entire process boils down to five core actions: choosing an exchange, verifying identity, depositing funds, selecting your asset, and placing an order.
By starting with stablecoins like USDT and leveraging both local and global platforms, you gain flexibility, better pricing, and access to advanced investment tools.
👉 See how seamless crypto trading can be—start exploring today
As blockchain technology continues to reshape finance, understanding these basics empowers you to participate safely and effectively. Always do your own research, manage risk wisely, and remember: every expert was once a beginner.