What Is Bitcoin?
Even if you don’t fully grasp blockchain technology, you’ve likely heard of Bitcoin. Often dubbed “Digital Gold,” Bitcoin represents a revolutionary store of value. Some investors believe it could eventually surpass gold as the premier asset class. Currently ranked 8th in global asset market capitalization, Bitcoin has potential for 10x growth if it achieves gold-like status. Now is the perfect time to learn how to invest in this transformative asset.
Bitcoin Price Trends: A 5-Year Snapshot
From 2020’s $8,000 to today’s $55,000 per BTC, Bitcoin has demonstrated remarkable growth despite its volatility. The expanding blockchain ecosystem—fueled by NFTs, DeFi, gaming innovations—continues attracting new investors. While crypto markets fluctuate, long-term holders often regret not accumulating more during key opportunities.
How to Buy Bitcoin: Step-by-Step
Step 1: Open an Exchange Account
Choose a reputable cryptocurrency exchange that suits your needs. Here’s a comparison of top platforms for investors:
| Feature | MAX (Taiwan) | Binance | FTX (Discontinued) | KuCoin |
|---|---|---|---|---|
| Fiat Deposit | Bank transfer, Convenience stores | Credit card, C2C, Wire transfer | Credit card, Wire transfer | Credit card, C2C |
| Pros | Local Taiwanese support, Far Eastern Bank partnership | Global leader, Chinese interface, Robust ecosystem | Advanced trading tools, Low fees | User-friendly, Terra ecosystem focus |
| Supported Coins | 16 | 391+ | 263 (Historical) | 473+ |
| Ideal For | Taiwan-based investors | Beginners & advanced traders | Experienced traders | Terra ecosystem participants |
👉 Start your crypto journey with a trusted platform
Key Selection Criteria:
– Regulatory compliance
– Security measures (2FA, cold storage)
– Liquidity volume
– Supported payment methods
Step 2: Execute Your First Trade
After account verification:
1. Navigate to “Spot Trading”
2. Select BTC/USDT pair
3. Enter purchase amount
4. Confirm transaction
Critical Safety Tips:
– Avoid leveraged products (marked FUTURES, MARGIN)
– Double-check order types
– Start with small test transactions
Smart Bitcoin Earning Strategies
Grow your holdings passively through these proven methods:
| Strategy | FTX Blockfolio (Past) | Celsius Network |
|---|---|---|
| APY | 5-8% | 3.51-8.88% |
| Lock-up | Flexible | Flexible |
| Best For | Small balances | Diversified earn |
Alternative Options:
– Exchange staking programs
– DeFi lending protocols (higher risk)
– Crypto savings accounts
👉 Discover earning opportunities today
Withdrawing Bitcoin Profits
Converting to Fiat (New Taiwan Dollars)
- Sell BTC for USDT
- Transfer USDT to MAX exchange
- Withdraw to Taiwanese bank account (NT$15 fee)
International Options:
- USD wire transfers (higher fees)
- P2P trading (requires verification)
- Crypto debit cards
Advanced Investment Pathways
For experienced investors:
– Altcoin trading (higher volatility)
– Derivatives trading (requires expertise)
– DeFi yield farming (technical knowledge needed)
– NFT market participation
Beginner Recommendation: Stick to simple BTC accumulation strategies for long-term growth.
Bitcoin Investment FAQs
Q: Is Bitcoin too volatile for beginners?
A: Dollar-cost averaging (regular small purchases) helps mitigate volatility risks.
Q: How much should I invest initially?
A: Only allocate funds you can afford to lose—1-5% of portfolio is common for starters.
Q: What’s the safest storage method?
A: Hardware wallets like Ledger provide optimal security for long-term holders.
Q: How do taxes work for crypto in Taiwan?
A: Currently no capital gains tax, but consult a tax professional for latest regulations.
Q: Can I lose all my Bitcoin?
A: Yes—through exchange hacks, lost passwords, or market crashes. Proper security is essential.
Q: When should I sell Bitcoin?
A: Establish clear profit-taking strategies based on your financial goals, not emotions.
Final Thoughts
Bitcoin represents a groundbreaking financial innovation. By starting with reputable exchanges, employing secure storage solutions, and adopting disciplined investment strategies, newcomers can confidently participate in the crypto revolution. Remember: education is your most valuable asset in this dynamic market.