Cryptocurrency trading begins with funding your account—and knowing how to efficiently move funds in and out of an exchange is essential. This guide walks you through depositing (buying crypto with New Taiwan Dollar, TWD) and withdrawing (converting crypto back to TWD) on Bybit, one of the world’s leading digital asset platforms.
Whether you're a beginner investor or expanding your crypto strategy, understanding these core processes ensures faster, lower-cost transactions with maximum control over your assets.
What Is Bybit Exchange?
Founded in March 2018 by Ben Zhou, Bybit operates under Bybit Fintech Limited, registered in the British Virgin Islands. As of 2025, the platform serves over 20 million users across more than 160 countries, including major markets in Asia, Europe, North America, and Oceania.
In 2023, Bybit established its global headquarters in Dubai and secured an MVP license—a significant regulatory milestone. It has also been recognized by CoinGecko as one of the top three most trusted cryptocurrency exchanges worldwide.
A key innovation strengthening its bridge between traditional finance and crypto is the Bybit Card, developed in partnership with Mastercard. This integration allows users to spend digital assets seamlessly in everyday transactions—highlighting Bybit’s growing role in mainstream financial ecosystems.
How to Deposit on Bybit: 3 Ways to Buy Crypto with TWD
To start trading on Bybit, you must first deposit funds. While Bybit supports multiple deposit methods, not all are equally efficient for Taiwanese users. Below are the three most practical ways to fund your account using New Taiwan Dollar (TWD).
1. Blockchain Transfer (Recommended)
This method involves buying USDT (a stablecoin pegged to the U.S. dollar) on a local Taiwanese exchange like MAX, then transferring it directly to your Bybit wallet via blockchain.
Why it's preferred:
- Best exchange rates
- Lower fees compared to other methods
- High liquidity and fast confirmation (especially on TRC20 network)
👉 Discover a secure way to manage your crypto deposits and withdrawals today.
Step-by-Step: Using MAX Exchange + Blockchain Transfer
- Log into your Bybit account, go to Assets > Deposit > USDT.
- Select TRC20 (TRON network) and copy your deposit address.
- Go to MAX Exchange, navigate to Wallet > Send USDT.
- Click “Add Withdrawal Address,” paste the Bybit address, and select TRC20/TRON as the protocol.
- Enter the amount, confirm transaction details, and send.
Once confirmed (usually within minutes), your USDT will appear in your Bybit wallet—ready for trading.
💡 Tip: Always test with a small amount first to verify address accuracy and network compatibility.
2. Instant Buy (Fast & Simple)
Bybit’s built-in Instant Buy feature allows you to purchase crypto directly using a credit card or third-party payment gateway.
Pros:
- Fast execution (funds arrive in 5–10 minutes)
- User-friendly interface
- No need for a local exchange account
Cons:
- Higher fees and less favorable exchange rates
- Limited daily purchase caps
How to Use Instant Buy
- On the Bybit app or website, tap More > Instant Buy.
- Enter the amount of TWD or crypto you want to buy.
- Choose credit/debit card as payment method.
- Input card details and complete verification.
- Wait for confirmation—your purchased crypto will appear shortly in your wallet.
This option suits those needing quick access to crypto without navigating multiple platforms.
3. P2P Trading (Zero Fees, Manual Process)
Bybit’s P2P marketplace connects buyers and sellers directly. You can purchase USDT from verified sellers using TWD via bank transfer.
Advantages:
- No transaction fees
- Competitive pricing set by sellers
- Direct TWD-to-USDT conversion
Risks:
- Slower process due to manual seller coordination
- Must assess counterparty trustworthiness
- Potential delays if buyer/seller doesn’t act promptly
How to Buy via P2P
- Tap More > Instant Buy > Sell/Buy Crypto.
- Select Buy USDT, enter amount, choose TWD as fiat currency.
- Pick a seller with high completion rate and positive reviews.
- Follow on-screen instructions to complete bank transfer.
- Confirm payment and wait for seller to release USDT.
Only confirm payment after verifying all details match the order—never pay outside the platform.
How to Withdraw from Bybit: 2 Ways to Cash Out to TWD
After trading, converting profits back into TWD is crucial for real-world use or reinvestment. Here are the two most effective withdrawal methods.
1. Blockchain Withdrawal (Best for Large Amounts)
Transfer your crypto (e.g., USDT) from Bybit back to a Taiwanese exchange like MAX via blockchain, then sell for TWD.
Benefits:
- Lowest fees
- Full control over timing and pricing
- Ideal for larger withdrawals
Steps to Withdraw via Blockchain
- In Bybit, go to Assets > Withdraw > USDT.
- Paste your MAX Exchange deposit address.
- Select TRC20 network.
- Enter amount and confirm withdrawal.
- Wait for blockchain confirmation (typically under 5 minutes).
- Sell USDT for TWD on MAX at current market rate.
This method maximizes value retention by avoiding middlemen markups.
👉 Learn how top traders optimize their withdrawal strategies for speed and savings.
2. P2P Sell (Direct TWD Payout)
Use Bybit’s P2P platform to sell your crypto directly for TWD—no need to move funds off-platform initially.
Pros:
- Direct bank deposit in TWD
- No blockchain fees
- Real-time price matching
Cons:
- Price spreads may be less favorable
- Requires waiting for buyer confirmation
How to Sell via P2P
- Tap More > Instant Buy > Sell Crypto.
- Choose USDT, enter amount, select TWD.
- Pick a buyer with strong reputation.
- Follow prompts—once buyer pays, click “Release Crypto.”
- Receive TWD directly into your bank account.
Always ensure payment is received before releasing funds.
Frequently Asked Questions (FAQ)
Q1: Is Bybit legal for users in Taiwan?
Yes, Bybit is accessible to Taiwanese users and supports TWD through P2P trading and third-party payment integrations. However, always comply with local tax regulations when reporting gains.
Q2: Which network should I use for USDT transfers?
For lowest fees and fastest processing, use TRC20 (TRON). Avoid ERC20 unless necessary—it incurs higher gas fees.
Q3: Are there withdrawal limits on Bybit?
Yes. Daily limits depend on your verification level (KYC). Higher tiers allow larger volumes—complete identity verification to unlock full access.
Q4: Can I deposit TWD directly into Bybit?
Not natively. Bybit does not support direct bank transfers in TWD. Use P2P or buy USDT via a local exchange instead.
Q5: How long do blockchain transfers take?
Most TRC20 transfers complete within 1–5 minutes. Network congestion may cause rare delays.
Q6: Is P2P trading safe on Bybit?
Yes—Bybit acts as escrow during P2P trades, holding crypto until payment is confirmed. Stick to high-rated traders for added security.
Final Thoughts
Understanding how to effectively deposit and withdraw funds on Bybit empowers you to trade smarter and keep more of your profits.
For Taiwanese investors:
- Use blockchain transfer via MAX Exchange for best rates and low fees.
- Leverage P2P trading for fee-free entry or exit when convenience outweighs cost.
- Reserve Instant Buy for small, urgent purchases despite higher costs.
Regardless of method, always double-check addresses, networks, and transaction details before confirming.
👉 Maximize your trading efficiency with tools trusted by millions worldwide.
By mastering these workflows, you position yourself to act quickly, reduce costs, and navigate the crypto market with confidence—all while maintaining full control over your financial journey.