How To Buy Ethereum In Taiwan: All The Options

Edited by Ezvid Wiki Editorial on 26 June 2018

The Ethereum blockchain is growing in popularity because of the vast number of coins that can be purchased with Ether on exchanges like ForkDelta, and the growing popularity of crypto collectibles. Many want to get in early, but users in Taiwan may have trouble finding reliable places to purchase Ether. We'll break down some of the best options so you can compare them. If you're trying to decide between Bitcoin and Ethereum, try this guide. This video was made with Ezvid Wikimaker.

Where Can I Purchase Ether With TWD?

  1. Remitano - peer-to-peer exchange where you can buy and sell ETH
  2. ShapeShift - integrates with MetaMask so you can exchange Bitcoin purchased through a service like BitoEX for Ether in your MetaMask wallet
  3. CEX.io - purchase Ethereum with a Visa or Mastercard in USD, EUR, or GBP
  4. Coinmama - allows for purchases with a credit card, but must be in USD or EUR
  5. LocalEthereum - listings for sellers in a variety of payment options
  6. Maicoin - peer-to-peer sales through bank transfers

Vitalik Buterin Explains Ethereum

Can I Purchase ETH At A Convenience Store?

While BitoEX has penetrated the Bitcoin market in Taiwan by setting up purchasing at some convenience stores, Ethereum isn't quite as widespread. Users may want to take advantage of the ease with which one can purchase Bitcoin by starting there. If you have a Bitcoin wallet, you can download MetaMask, then use ShapeShift to convert your Bitcoin to Ethereum. Since MetaMask is necessary for buying unique digital assets like Factbars, doing it this way will actually save you the hassle of having to transfer your Ether once you buy it.

Purchasing Bitcoin At A Convenience Store

In Depth

Investors in the world of crypto assets are flocking to Ethereum, the blockchain that allows for the development of decentralized applications, or dapps, that utilize smart contracts for trading fungible and non-fungible assets. While most sites where you can purchase Ether are aimed at the US market, those in Taiwan have several options that don't require buying in American currency. We'll go over the different ways you can exchange TWD for Ether so you can find the best source for your needs.

First, let's talk about why you're looking to buy Ether, because that affects which site you should use. Many people invest in Ethereum for the same reasons they invest in Bitcoin, as an alternative currency. Those who have held onto Ether have seen its value go up, and if you're betting it will go higher, you want to get in quickly. There are even Ethereum ATMs being rolled out alongside Bitcoin ATMs in some cities, so the future looks bright for this currency.

Ethereum is useful just like Bitcoin for the purchase of alternative coins. When a company issues an I.C.O., it has options for how it will sell those assets. Many companies are attracted to Ethereum because it allows for the incorporation of smart contracts. There are many exchanges where you can purchase alternative assets using Ether.

When a company issues an I.C.O., it has options for how it will sell those assets.

Most new tokens on the Ethereum blockchain adhere to a standard called ERC20, a set of six functions for smart contracts that regulate how they are to operate. This can include alt coins, games, and dapps like PoWH3D and Gandhiji that promise income based on participation and referring others to the service.

ERC20 tokens are like Bitcoin and Ether in that they are fungible, meaning each one is the same. If you have two Bitcoins, and you plan to sell one, it doesn't matter which one you sell because they are worth the same amount. You can also deal in fractions of a coin just like you can with dollars and cents.

But some assets are unique, or non-fungible. ERC-721 is a standard for smart contracts dealing in digital assets that are not all the same. One popular example is Factbar, online representations of facts that are researched and verified. If you own a Factbar, you are the only person who owns it at that time, and every Factbar has its own unique value. Highly-desirable Factbars are therefore very valuable because they are rare.

But some assets are unique, or non-fungible.

Because tokens like Factbars and CryptoKitties are unique, you can't buy them on exchanges. Instead, you'll need a browser extension like MetaMask, which integrates with your browser so you can make purchases on these individual marketplaces. If this is your goal, you need to make sure that you purchase Ether from a site that can easily transfer to MetaMask.

Remitano is a simple exchange that also has apps available for Android and iOS. Remitano is a peer to peer exchange, which means you need to find a seller on their exchange, then initiate the transaction. Your Ether will be deposited into a wallet on the site, from which you can then transfer to another Ethereum wallet. You need to make this transfer before you can use your Ethereum to make purchases.

If you're interested in purchasing crypto collectibles like Factbars, or buying more obscure coins on an exchange like ForkDelta, you'll need a MetaMask wallet. MetaMask can be easily downloaded, but you'll have to transfer your funds. ShapeShift is one of the ways you can add Ether to MetaMask.

ShapeShift is one of the ways you can add Ether to MetaMask.

On ShapeShift, you'll see that you can exchange many cryptocurrencies and alt coins between your accounts. MetaMask makes the process simple, allowing you to do everything in your browser so you can get to using the extension to make purchases of the assets you want to buy. If you've got Bitcoin, you can exchange it for Ether. Bitcoin has more purchase options in Taiwan currently, so this may be the simplest choice.

If you want to buy Ether directly, it's possible to do so with a credit or debit card. Both Cex.io and Coinmama offer this option, allowing you to pay in US dollars or Euro with a Visa or Mastercard. This is only a good option if you have a card that doesn't charge foreign transaction fees. You'll also need to set up an Ethereum wallet and make sure you know how to send funds, so this isn't the best option for beginners.

There are other sites, such as LocalEthereum and Maicoin, which have peer to peer selling through a variety of payment options. You can initiate a bank transfer, use an ATM at a convenience store, or even pay in cash. Again, these aren't the simplest options, so if you're just getting into crypto collectibles, you might be better off purchasing Bitcoin through a service like BitoEX, then transferring it to Ether using Shapeshift and MetaMask.

Again, these aren't the simplest options, so if you're just getting into crypto collectibles, you might be better off purchasing Bitcoin through a service like BitoEX, then transferring it to Ether using Shapeshift and MetaMask.

Over time, there will be much more integration for NT in all these exchanges, and new ones will pop up as time goes on. You need to understand the risks before getting involved. But if you plan on investing in digital currency for the long haul, Ethereum is a gateway to coins, games, and unique digital assets in a growing marketplace.