MAX Exchange stands as one of the most popular cryptocurrency trading platforms, especially for users seeking efficient fiat and crypto withdrawal services. This guide offers a full walkthrough on depositing and withdrawing funds, covering everything from TWD transactions to moving assets like USDT. Whether you are new to the platform or looking to streamline your transactions, this tutorial will help you navigate the process with confidence.
How to Deposit and Withdraw TWD on MAX Exchange
Depositing and withdrawing New Taiwan Dollars (TWD) on MAX is streamlined and user-friendly:
- Deposit: Navigate to MAX Home > Wallet > TWD > Deposit > Transfer to your exclusive deposit account.
- Withdraw: Go to MAX Home > Wallet > TWD > Withdraw > Choose account and amount > Complete two-factor verification.
MAX Deposit Tutorial
Before initiating a deposit, keep two critical points in mind:
- Level 2 Verification: To deposit TWD, you must complete Level 2 identity verification (KYC) after registering your account.
- Bank Account Binding: You can only use a registered bank account for deposits and withdrawals. Transfers from unlinked accounts will fail and require customer support assistance for a refund.
⚠️ Why is Identity Verification (KYC) Necessary?
KYC, or Know Your Customer, is a standard regulatory process financial institutions use to verify client identities. It helps prevent financial crimes like money laundering, fraud, and terrorist financing. Whether trading cryptocurrencies or opening a bank account, KYC is a mandatory step for security and compliance.
Once these are completed, you’re ready to deposit. The following steps are demonstrated using the MAX mobile app, but the desktop process is similar.
Step 1: Access Your Wallet
Open the MAX app and tap on “Wallet” in the bottom menu to view your asset dashboard.
Step 2: Select TWD
From your list of cryptocurrencies, select “TWD” to proceed.
Step 3: Initiate Deposit
On the TWD page, tap the “Deposit” button.
Step 4: Choose Deposit Method
You’ll see two options: your pre-linked bank account or a Far Eastern Bankee digital asset account. Bankee offers fee-free deposits to MAX. You can add it as an option without changing your primary account.
Step 5: Transfer Funds
After selecting a method, you’ll see a dedicated Far Eastern Bank account number. Use your linked bank account to transfer funds via online banking or ATM. Note that over-the-counter, cash, third-party, or corporate transfers are not supported and will fail.
Most deposits are processed within 5-10 minutes if the amount is small and details are correct.
MAX Withdrawal Tutorial
Withdrawals on MAX can be divided into two types: TWD withdrawals and cryptocurrency transfers.
TWD Withdrawal
Step 1: Check Wallet Balance
Ensure you have sufficient TWD balance. If you hold crypto like USDT, sell it for TWD first. Use comparison tools to find the best exchange rates before converting.
Step 2: Go to Wallet
From the home screen, tap “Wallet.”
Step 3: Select TWD
Find and select “TWD” from your assets, then tap “Withdraw.”
Step 4: Choose Withdrawal Method
Select your preferred withdrawal account—either your linked bank account or Bankee.
Step 5: Enter Details & Verify
Enter the amount to withdraw. The system will display the applicable fee. Confirm the details, submit, and complete two-factor authentication to finalize your request.
Cryptocurrency Withdrawal (To External Wallet)
Step 1: Access Wallet
From the home screen, go to “Wallet.”
Step 2: Choose Cryptocurrency
Select the cryptocurrency you want to withdraw (e.g., USDT). On the currency page, tap “Send.”
Step 3: Enter Transfer Details
Select or enter the destination address and amount. Confirm the transaction fee and amount, then submit and complete two-factor verification. Your crypto will be sent to the external wallet.
⚠️ Important Reminder: Once cryptocurrency is sent, it cannot be reversed. Never transfer funds based on requests from strangers, and always be cautious of scams.
Before You Transfer: Check Address and Network
When sending crypto from MAX, pay close attention to the address and blockchain network. For example, USDT can be sent via multiple networks like ERC-20 and TRC-20, which have different addresses and fees. TRC-20 is often recommended for USDT due to lower fees and faster speed, but always confirm that the recipient supports the network.
Sending crypto to an incompatible address (e.g., ERC-20 USDT to a TRC-20 address) will result in permanent loss. Always double-check the address and network, and consider doing a test transaction first.
MAX Withdrawal Fees
MAX does not charge extra fees for deposits beyond what your bank may apply. Withdrawal fees, however, vary:
- TWD Withdrawal: Personal accounts are charged 15 TWD per withdrawal; corporate accounts are charged 100 TWD. The fee is deducted from the withdrawal amount.
- Crypto Transfers: Fees depend on the cryptocurrency and blockchain. For example, Bitcoin sent via the Bitcoin network costs 0.0001 BTC, while BSC transfers cost 0.00001 BTC. For full details, check the MAX official fee schedule.
👉 Compare current transaction fees
Frequently Asked Questions
How long does a deposit take on MAX?
Deposits are typically processed within 5-10 minutes.
What should I do if my deposit doesn’t appear?
If your deposit hasn’t arrived, it could be due to using an unlinked account, splitting the transfer, or using an unsupported method. Contact MAX customer support for a refund, which may take 1-3 business days to process. A 15 TWD interbank transfer fee may apply.
What are common reasons for withdrawal failure?
- Using a bank account not linked during registration.
- Attempting over-the-counter cash deposits.
- Entering an incorrect deposit account number.
How long does a TWD withdrawal take?
Withdrawals submitted before 11:00 AM on a banking business day are processed within 0-1 business days. Requests after 11:00 AM take 1-2 business days.
Are withdrawals taxable?
Yes, any profit from cryptocurrency trading is subject to tax. When you convert crypto to TWD and withdraw to a bank account, it is considered domestic income and must be declared for personal income tax. Profits from overseas exchanges may be treated as foreign income.
Can I withdraw to any bank account?
No, you can only withdraw to the bank account you registered and verified during the KYC process.
What is the minimum withdrawal amount?
The minimum withdrawal varies by currency and network. Check the MAX website or app for specific details.
Conclusion
Understanding how to deposit and withdraw on MAX Exchange is essential for efficient crypto trading. Always prioritize security by verifying addresses, enabling two-factor authentication, and staying aware of fees and processing times. For the best exchange rates, use comparison tools to maximize your returns.