Entering the world of cryptocurrency can feel overwhelming, but buying your first Bitcoin doesn’t have to be complicated. MAX Exchange offers a user-friendly platform that allows investors in Taiwan to purchase Bitcoin using New Taiwan Dollar (TWD), making it an accessible entry point for both beginners and experienced traders. This comprehensive guide walks you through the entire process—from account setup to placing your first order—with clear instructions and practical tips.
Whether you're looking to invest long-term or explore active trading, understanding how to navigate MAX Exchange is essential. Let’s dive into the steps, order types, fees, and best practices for buying Bitcoin securely and efficiently.
Setting Up Your Account and Funding Your Wallet
Before you can buy Bitcoin, you need a verified account and funds in your wallet. The process mirrors traditional stock investing: open an account, deposit money, choose your asset, and execute a trade.
1. Create and Verify Your MAX Account
To begin, sign up on MAX Exchange and complete Level 2 identity verification. Without this step, you won’t be able to deposit or withdraw TWD. Only after full verification can you access fiat currency transactions.
2. Deposit Funds in TWD
Once verified, deposit New Taiwan Dollar directly into your MAX account. The platform supports local banking methods, enabling seamless TWD transfers. With funds in your account, you're ready to start trading.
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Understanding Order Types: Limit, Market, and Stop Orders
MAX offers three main order types—each serving different investment strategies. Choosing the right one impacts execution speed, price control, and fees.
Limit Order (Maker) – Buy at Your Desired Price
A limit order lets you set a specific price at which you want to buy Bitcoin. Your order only executes when the market reaches that price.
For example:
- Set a limit price of NT$800,000 per BTC
- Specify quantity: 0.0005 BTC
- Total cost: ~NT$400
This approach gives you full control over pricing and is ideal if you believe Bitcoin will dip temporarily. Since these orders add liquidity, they come with lower fees (0.05%).
💡 Pro Tip: Use percentage-based position sizing (e.g., 25% of available balance) to maintain consistent investment habits without manual calculations.
Market Order (Taker) – Buy Instantly at Current Price
If immediate execution is your priority, use a market order. This buys Bitcoin at the best available current price—guaranteeing a fast transaction.
Example:
- Buy 0.0003 BTC instantly
- Pay whatever the prevailing market rate is
While convenient, market orders remove price control and incur higher fees (0.15%). They’re best used during rapid price movements or when securing quick profits.
Stop Order – Protect Against Losses
A stop order acts as a risk management tool. It triggers a sell order once Bitcoin drops below a specified threshold.
Use case:
- Bought BTC at NT$900,000
- Set stop price at NT$895,000
- When triggered, sell at NT$894,900
This helps limit losses during unexpected downturns. Stop orders are crucial for active traders managing portfolio risk.
How to Place a Bitcoin Order on MAX App
Follow these universal steps before selecting your preferred order type.
Step 1: Access the Trading Interface
- Open the MAX app
- Tap “Trade” at the bottom left
- Select BTC/TWD from the list
You’ll now see real-time price data and order entry fields.
Step 2: Choose Your Order Type
Switch between Limit, Market, or Stop by tapping the tab above the input field.
Enter:
- Price (for limit/stop)
- Quantity (minimum 0.0003 BTC)
- Review estimated total
Step 3: Confirm and Execute
Ensure sufficient balance, then tap “Buy”. Confirm the transaction if prompted.
✅ After submission:
- Market orders: Execute immediately
- Limit/Stop orders: Appear in “Open Orders” until conditions are met
Canceling Unfilled Orders
Changed your mind? You can cancel any unfilled order anytime.
- Go to “Orders” → “Current Orders”
- Find the pending trade
- Tap the “X” next to it
Cancelled funds return instantly to your wallet.
Verifying Your Bitcoin Purchase
After a successful trade:
- Tap “Wallet” at the bottom right
- Check your BTC balance—it should reflect the purchased amount
To review transaction details:
- Go to “Profile” → “All History”
- Select “Order Records”
- View date, quantity, average price, fees, and status
This transparency ensures accountability and helps track performance over time.
MAX Exchange Fees Explained
Yes, trading on MAX incurs fees—but they vary by order type:
| Order Type | Fee Rate | Notes |
|---|---|---|
| Limit (Maker) | 0.05% | Lower fee for adding liquidity |
| Market (Taker) | 0.15% | Higher fee for taking liquidity |
| Stop Order | 0.05% or 0.15% | Depends on execution method |
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⚠️ Common Pitfall: If your limit price matches the current market rate exactly, the system treats it as a market order—charging 0.15%. Always set your limit slightly above or below the current price.
Frequently Asked Questions
Q1: How long does it take for my Bitcoin purchase to go through?
A: Market orders execute instantly. Limit and stop orders depend on market conditions—if your target price isn’t reached, the order remains open indefinitely.
Q2: Why was I charged 0.15% instead of 0.05% on my limit order?
A: Your limit price matched the current market price, causing immediate execution as a taker trade. To ensure maker status, set your price slightly away from the spread.
Q3: Are there purchase limits on MAX?
A: Yes—minimum trade is 0.0003 BTC (~NT$270). Maximum per order is NT$1.5 million. There are no daily or monthly caps beyond this.
Q4: I completed a trade but don’t see my Bitcoin—what should I do?
A: First, check your wallet balance under “Assets.” If missing, contact MAX customer support with a screenshot of the order confirmation as proof of purchase.
Q5: Is it safe to keep Bitcoin on MAX?
A: For short-term trading, yes. But for long-term holding, transfer your coins to a private wallet for enhanced security.
Q6: Can I buy Bitcoin using USDT on MAX?
A: Absolutely. The process is identical—just switch to the BTC/USDT trading pair and proceed with your order.
Final Tips for Buying Bitcoin Successfully
Buying Bitcoin on MAX Exchange is straightforward once you understand the mechanics. Here’s how to optimize your experience:
- Use limit orders when buying to save on fees and control entry points
- Reserve market orders for urgent trades or profit-taking
- Always set stop-loss orders if actively trading
- Monitor spreads closely to avoid accidental taker fees
- Rebalance regularly and consider dollar-cost averaging
While MAX provides local currency access—a major advantage—it has lower liquidity than global exchanges. This may delay limit order fills during volatile periods.
👉 Explore high-liquidity platforms where your trades execute faster and more efficiently.
Conclusion
Buying Bitcoin on MAX Exchange is a solid option for Taiwanese investors seeking a regulated, TWD-supported gateway into crypto. With intuitive mobile app navigation, flexible order types, and transparent fee structures, it empowers users to take their first steps confidently.
However, always weigh trade-offs: convenience vs. speed, cost vs. control. As your portfolio grows, diversifying across platforms may offer better execution and opportunities.
No matter your path forward, knowledge is power—armed with this guide, you’re now ready to make informed decisions in the dynamic world of digital assets.