Complete Tutorial on Getting Started with Cryptocurrency: From Fiat Currencies to First Investments on the Chain

Why You Need to Know About Cryptocurrencies

BlackRock, the world’s largest asset management firm, recommended in a report that investors should allocate 1-2% of their portfolio to Bitcoin. What used to be a 60% stock + 40% bond allocation may have evolved into a 59% stock + 39% bond + 2% bitcoin allocation.

Cryptocurrencies are no longer just a tool for the tech community or coin speculators, but a new asset class to be included in formal portfolios.

How are fiat currencies different from the assets in the chain?

You have to understand that fiat currencies (e.g. NTD, USD) have a lot of restrictions on movement in the real world, high fees, and need to be vetted by banks. When you convert funds to a chained asset (e.g. stable currencies such as USDT, USDC, etc.), the funds can be transferred in seconds:

Remittances can be made in seconds
Virtually no handling fees
No restrictions or scrutiny from traditional financial institutions
You are in complete control of your assets

<p class=”” data-start=”519″ data-end=”532″>This is where the value of cryptocurrencies comes in.

How can a beginner start investing in cryptocurrencies?

Step 1: Convert your fiat currency to USDT or USDC (Stablecoin)

This is your first step into the cryptocurrency world. There are two main ways to do this:

Method 1: Credit Card Purchase (fast but with high fees)

Download Binance APP
Register your account and complete KYC (verification of identity).
Use Apple Pay or credit card to buy USDT directly

Pros: Fast and convenient
Disadvantage: High handling fee, only suitable for the first time to try a small amount.

Method two:Using Local Exchange (Recommended)

Taiwan users can use MAX, BitoPro, XREX
Transfer NT dollars to an exchange account
Purchase USDT (market orders are usually sufficient)
Transfer USDT to Binance or other international exchanges.

This method has a very low handling fee and is suitable for long-term investors or for larger deposits.

How do I transfer USDT to Binance?

Select “Save USDT” in Binance.
<strong data-start=”942″ data-end=”967″>Selection Chain (BEP20 / TRC20 recommended)
“Withdraw USDT” from MAX’s wallet to the address.
Confirm address and chain are correct and send

It is recommended to get used to “Double Check”:

Confirm the currency is USDT
Confirm the link is BEP20 or TRC20.
Confirm the first 5 codes and the last 5 codes of the address are correct.

Just wait for 1~2 minutes and the funds will be credited to your account.

<h3 data-start=”1135″ data-end=”1150″>Start buying your first Bitcoin!

Go to the Coin homepage, click “Trade” → “Spot”.
Select BTC/USDT
Create a limit order or market order
Click Buy

After completion, your Bitcoin will be displayed in the asset list.

Withdrawal Procedure (Exchange from USDT to Taiwan Dollar)

Transfer USDT back to your local exchange (e.g. MAX).
Sell USDT for Taiwan Dollars

Withdrawal of Taiwan Dollars to Personal Bank Accounts

This is a reverse process, almost identical to the deposit process.

Can I exchange coins privately?

Yes, but be sure to

Only use “someone you trust very much
Double-check your chain and address
Use a small test transfer

Fraud is rampant, so if you are unfamiliar with the process, please avoid private exchanges.

Why do most people use international exchanges?

Because of local exchanges (like MAX):

Limited functionality

Small number of currencies and poor liquidity
Wide bid-ask spread
High fees and strict regulation

International exchanges (e.g. Coin)

Wide choice of currencies
Complete functions (e.g. investment, robotics, wealth management, etc.)
Lower fees and higher liquidity

How to keep your assets safe and secure after getting started?

If you will be trading in the short term, you can put it in an exchange hot wallet

For long term investment (hold for more than 1 year), it is recommended to use cold wallet

Cold wallets are the best way to “truly own assets” in the Web3 world.

Conclusion: Your first cryptocurrency journey has begun!

If you have successfully converted from Fiat to USDT and bought Bitcoin, congratulations, you have officially entered the Web3 world!

You can explore more features in the future:

Money Security
Launchpad New Coin Offerings
<p class=”” data-start=”1785″ data-end=”1800″>NFT, Decentralized Wallet, Contract Trading
Or learn to participate in airdrops (Airdrop)