NTD Withdrawal Complete Guide: How to Quickly Convert Cryptocurrency to Cash? Comparison and Analysis of Major Exchanges

Looking to convert your crypto assets into New Taiwan Dollars (NTD) and withdraw, but unsure where to start? This article provides a comprehensive guide to withdrawing funds, including direct withdrawals, cross-platform transfers, and more. It also offers detailed comparisons of mainstream platforms like MaiCoin, BitoPro, Mitrade, and others.

The Two Mainstream Solutions for Crypto Withdrawals

The core issue faced by Taiwanese crypto investors is: Not all exchanges support NTD withdrawals. Based on actual situations, there are currently two main solutions:

Solution 1: Cross-platform transfer then withdrawal

International mainstream exchanges (such as some large platforms) usually only support USD, EUR, and other major currencies for withdrawal, and cannot directly withdraw NTD. The approach here is:

Transfer process: International exchange → Platform supporting NTD withdrawal → Bank account

The advantage of this method is that it leverages the liquidity and variety of currencies of large international exchanges. The downside is that it involves cross-platform operations, which carry higher risks.

⚠️ Three details that must be handled carefully:

• Incorrect transfer addresses cannot be reversed; confirm three times
• Choose the correct blockchain network (the same crypto may support multiple chains)
• Verify whether the platform maintains the network before transferring

Solution 2: Use a platform that supports NTD deposits and withdrawals directly

For beginners, the easiest approach is to choose an exchange that supports NTD deposits and withdrawals from the start, completing the entire process on the same platform. This avoids cross-platform risks and simplifies operations.

In-Depth Comparison of Mainstream Platforms Supporting NTD Withdrawals

Platform 1: MaiCoin - Taiwan’s Established Compliant Exchange

Basic Information:

• Founded: 2013
• Core Advantage: One of the first compliant platforms recognized by regulatory authorities in Taiwan
• Main Business: Spot trading, digital asset wallets, blockchain applications

Withdrawal Specifications:

Platform Features:

• Intuitive interface suitable for beginners
• Wallet function supports receiving and sending, facilitating cross-platform transfers
• Complete trading features, allowing direct conversion to NTD after buying/selling crypto
• Provides beginner tutorials

Suitable for:

• Investors who prioritize platform compliance and security
• Users wanting to complete the full process on a single platform
• Traders confident in Taiwan’s local regulations

Platform 2: Mitrade - A New Choice for CFD Trading

Basic Information:

• Founded: 2011
• Core Advantage: Offers CFD (Contract for Difference) trading, with full international regulation licenses
• Main Regulators: ASIC (Australia), FCA (UK), etc.

Withdrawal Specifications:

Platform Features:

• CFD trading mode, no need to hold actual crypto
• Supports leverage trading, suitable for short-term volatility trading
• 24-hour local customer support in Taiwan
• Funds stored separately, strictly regulated by international authorities
• Added USDT deposit channel, more flexible deposits and withdrawals

Quick Operation Flow:

1. Complete identity verification (KYC)
2. Deposit into trading account
3. Conduct crypto CFD trading
4. Click “My” → “Withdraw” to transfer to linked bank account

Suitable for:

• Investors seeking diverse financial products
• Traders interested in leverage trading
• Users wanting funds protected by strict international regulation
• Investors valuing local customer support and user experience

Platform 3: BitoPro Withdrawals - Another Option

BitoPro also supports NTD withdrawals, making it another mainstream choice in the market. When choosing, compare its fee policies, deposit speed, and platform stability.

Cost and Time Comparison for Withdrawals

Correct Approach for Cross-Platform Transfers

If your assets are on an international exchange and you want to withdraw via a NTD withdrawal platform:

Key steps:

1. Find the deposit address on the receiving platform

   • Log in to a platform supporting NTD withdrawals (e.g., MaiCoin)
   • Go to “Assets” or “Wallet”
   • Select the crypto you want to receive
   • Click “Receive” to get the dedicated address

2. Initiate transfer from the sending platform

   • Log in to the international exchange
   • Find “Withdraw” or “Withdrawal”
   • Select the crypto and blockchain network
   • Paste the receiving address, confirm amount and fee

3. Wait for blockchain confirmation

   • Confirmation time varies from minutes to hours depending on the chain
   • Once confirmed, funds arrive at the receiving platform

4. Sell crypto for NTD on the receiving platform

   • Go to trading page, select the crypto
   • Click “Sell” and input amount
   • The system automatically calculates NTD amount
   • After selling, you can withdraw the NTD

Pre-operation checklist:

• ✓ Address must be exact (copy and paste, do not type manually)
• ✓ Choose the correct blockchain (USDT may support multiple chains like Tron, Ethereum)
• ✓ Confirm the amount (do not exceed platform limits)
• ✓ Check platform maintenance status (some coins may be temporarily under maintenance)

Core Considerations When Choosing an Exchange

Security assessment

• Does the platform have proper financial regulation licenses?
• Are funds stored separately?
• Is there regular financial auditing?

Cost calculation

• Compare fees, exchange rates, withdrawal fees
• Calculate costs for multiple small withdrawals vs. one large withdrawal
• Watch out for hidden fees

Convenience

• Support in local language and accessible customer service
• Variety of deposit and withdrawal channels
• User-friendly platform interface

Risk Tips and Recommendations

1. Test with small amounts first

   • For cross-platform transfers or large withdrawals, verify the process with small amounts first
   • Confirm the funds arrive correctly before large operations

2. Monitor regulatory updates

   • Taiwan’s financial regulation environment is continuously evolving
   • Regularly check platform announcements for latest withdrawal policies

3. Be cautious with third-party agents

   • Avoid seeking withdrawal help from unofficial channels
   • All operations should be done through official platform channels

4. Verify bank accounts

   • Withdrawal accounts must be in your own name
   • Incorrect account info may lead to fund loss

Summary

Crypto withdrawals in Taiwan now have multiple mature options. Whether choosing MaiCoin’s direct NTD withdrawal, Mitrade’s CFD withdrawal, or BitoPro’s options, the core principle is: Choose compliant, licensed platforms, prioritize local support and reputation.

For beginners, trading directly on platforms supporting NTD deposits and withdrawals is the most convenient; for investors with assets on international exchanges, cross-platform transfer to NTD withdrawal platforms is also feasible. The key is understanding the risks at each step, developing habits of verifying addresses, amounts, and links carefully, to ensure funds are safely converted into cash.

Three simple steps to start your withdrawal journey:

1. Choose a reputable trading platform (focus on whether it supports NTD withdrawals)
2. Complete identity verification and bank account binding
3. Based on your asset location, choose direct withdrawal or cross-platform transfer