How to Sell Bitcoin and Ethereum for TWD via MaiCoin and Deposit to Your Taiwanese Bank Account

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Selling cryptocurrency like Bitcoin (BTC) and Ethereum (ETH) for Taiwanese dollars (TWD) has become increasingly accessible, especially with local platforms such as MaiCoin. This guide walks you through the complete process of transferring your digital assets from external wallets or mining platforms into your Taiwanese bank account using MaiCoin—securely, efficiently, and with minimal friction.

Whether you're cashing out mining rewards from services like MinerGate or simply converting holdings stored elsewhere, MaiCoin offers a seamless bridge between crypto and traditional banking in Taiwan.

Why Use MaiCoin?

MaiCoin is a trusted digital asset platform based in Taiwan that supports both Bitcoin and Ethereum wallets, enabling users to not only store but also exchange these cryptocurrencies directly for New Taiwan Dollars (TWD). The standout feature? You can deposit funds directly into local banks or post office accounts, making it one of the most convenient options for Taiwanese residents.

Key benefits include:

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Step-by-Step Guide: Convert Crypto to TWD via MaiCoin

Step 1: Register and Verify Your Account

Begin by creating an account at maicoin.com. To unlock full functionality—including bank withdrawals—you’ll need to complete identity verification.

Required documents:

These can be uploaded under the “Settings” section. While typical review times range from 3 to 5 business days, many users report approval within hours.

Once verified, link your Taiwanese bank account—this ensures smooth TWD deposits later on.

Step 2: Find Your MaiCoin Wallet Address

After logging in, navigate to your wallet dashboard and select the cryptocurrency you wish to deposit (BTC or ETH).

For this example, we'll use Ethereum (ETH):

  1. Click on the Ethereum wallet
  2. Copy the provided wallet address

This address will act as the destination for incoming transfers from external sources.

Step 3: Transfer Crypto from External Platforms

Suppose you’ve earned ETH through mining on MinerGate or another platform. Here’s how to move it:

  1. Log into your MinerGate dashboard
  2. Select Withdraw > Ethereum
  3. Paste your MaiCoin ETH wallet address
  4. Enter the amount and click Withdraw

Ensure accuracy when entering the address—crypto transactions are irreversible.

Step 4: Monitor Transaction Confirmation

Back in MaiCoin, go to your transaction history. You’ll see a pending ETH deposit.

Transactions require multiple blockchain confirmations before being finalized. For Ethereum, MaiCoin typically waits for around 100 confirmations, which usually takes about 30 minutes depending on network congestion.

You can verify progress by clicking the transaction ID, which opens a detailed view on etherchain.org.

Step 5: View Confirmed Balance

Once confirmed, your ETH balance will appear in your MaiCoin wallet. Now you’re ready to convert it to TWD.

Step 6: Choose the Right Time to Sell

Cryptocurrency prices fluctuate constantly. Before selling, check the current ETH to TWD exchange rate on MaiCoin’s price chart.

Timing matters:

Selling during favorable conditions maximizes your TWD return.

Step 7: Initiate the Sale

Go to the “Sell Ethereum” page:

  1. Enter the amount of ETH you want to sell
  2. MaiCoin will auto-calculate the equivalent TWD value based on real-time rates
  3. Review the estimated payout

If satisfied, proceed to the next step.

Step 8: Confirm and Submit

Important notes:

Check both confirmation boxes and click Submit.

Step 9: Wait for Bank Transfer

Your transaction status will change to “Pending Transfer” in the history log.

Most transfers complete within the same day. In one reported case, a withdrawal initiated in the morning was credited by 3:00 PM.

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Step 10: Verify Bank Deposit

Log into your online banking portal (e.g., E.SUN Online Banking) and check your recent transactions. The deposited amount should match MaiCoin’s final payout after fees.

Exchange Rate Comparison: Is MaiCoin Competitive?

One common concern is whether MaiCoin offers fair exchange rates compared to international platforms.

Let’s analyze a real example:

Actual received via MaiCoin: NT$834

That’s a difference of just ~NT$5.73, which is remarkably close considering:

This small spread reflects reasonable operational costs and confirms MaiCoin’s competitiveness among regional crypto-fiat gateways.

Frequently Asked Questions (FAQ)

Q: How long does identity verification take on MaiCoin?
A: While official estimates suggest 3–5 business days, many users report approvals within hours, sometimes even on the same day.

Q: Can I withdraw to any Taiwanese bank?
A: Yes, MaiCoin supports transfers to most major local banks and post office savings accounts.

Q: Are there minimum or maximum withdrawal limits?
A: There’s no stated maximum, but withdrawals under NT$1,000 incur a NT$10 fee. Larger transactions are processed without extra charges.

Q: What happens if I send crypto to the wrong wallet address?
A: Unfortunately, blockchain transactions cannot be reversed. Always double-check addresses before confirming any transfer.

Q: Does MaiCoin support other cryptocurrencies besides BTC and ETH?
A: Currently, MaiCoin primarily supports Bitcoin and Ethereum. Support for additional tokens may expand in the future.

Q: Is my personal data safe with MaiCoin?
A: MaiCoin complies with local financial regulations and employs industry-standard encryption and security practices to protect user data.

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By following this guide, you can confidently convert your Bitcoin or Ethereum into TWD using MaiCoin and enjoy fast, secure deposits into your Taiwanese bank account—all without complex procedures or excessive fees.

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