BitoPro is a leading cryptocurrency exchange in Taiwan that supports both TWD (New Taiwan Dollar) and cryptocurrency withdrawals. This guide provides a step-by-step walkthrough for both methods, along with essential information on fees, processing times, and practical tips to optimize your withdrawals.
Whether you're cashing out to your bank account or transferring crypto to an external wallet, understanding BitoPro’s withdrawal process can save you time and reduce costs.
How to Withdraw from BitoPro
Withdrawing from BitoPro can be done in two primary ways, depending on your target asset:
| Withdrawal Method | Description |
|---|---|
| Cryptocurrency | Transfer crypto from your BitoPro account to an external wallet or exchange. |
| TWD (New Taiwan Dollar) | Withdraw TWD to your linked bank account. |
Before initiating any withdrawal, ensure you have completed KYC Level 2 verification. Without it, withdrawal functionality will be unavailable.
There are also daily withdrawal limits:
| Asset | Per Transaction | Daily Limit |
|---|---|---|
| USDT | 300,000 USDT | 500,000 USDT |
| TWD | 1,000,000 TWD | 2,000,000 TWD |
Monthly TWD withdrawal limits are also capped at 5,000,000 TWD. Always check the official BitoPro fee page for the most current limits and policies.
How to Withdraw Cryptocurrency from BitoPro
This process is ideal if you want to move your crypto to a private wallet or another exchange like Binance.
Step 1: Obtain the External Deposit Address
First, you need the deposit address from your destination wallet or exchange.
- Log in to the platform you are sending to (e.g., Binance).
- Navigate to your Wallet or Assets section.
- Find the Deposit or Receive function for the specific cryptocurrency you want to withdraw (e.g., USDT).
- Crucially, select the correct blockchain network (e.g., TRC20, ERC20, BEP20). You must use the same network on both sides.
- Copy the generated deposit address.
Step 2: Initiate the Withdrawal on BitoPro
- Log in to your BitoPro account and go to 【Assets】.
- Select 【Withdraw】.
- Choose the cryptocurrency you wish to withdraw (e.g., USDT).
- Select the same blockchain network you chose in the previous step.
- Paste the external address you copied.
- Enter the amount you wish to withdraw and confirm all details.
⚠️ Important: Double-check the address and network. Transactions sent to the wrong address or on the wrong network may be permanently lost.
Withdrawals are typically processed within 5-10 minutes, depending on network congestion.
How to Withdraw Crypto and Convert to TWD
A common strategy for global traders is to convert crypto to TWD through a Taiwanese exchange. The general workflow is:
Crypto → USDT → Transfer to BitoPro → Sell USDT for TWD → Withdraw TWD to Bank
Here’s how to execute this:
Step 1: Get Your BitoPro Deposit Address
- In the BitoPro app, go to 【Assets】.
- Select 【Deposit】.
- Choose the coin you are sending (e.g., USDT).
- Select your preferred network (ERC20, TRC20, BEP20, or Polygon).
- Copy your unique BitoPro deposit address.
Step 2: Withdraw from the External Exchange to BitoPro
- Go to your external exchange (e.g., Binance).
- Navigate to 【Withdraw】.
- Select the same cryptocurrency and identical network you selected on BitoPro.
- Paste your BitoPro deposit address.
- Enter the amount and confirm the withdrawal.
The transfer usually takes 5-10 minutes to reflect in your BitoPro account.
Step 3: Sell Crypto for TWD on BitoPro
- Once the USDT arrives, go to the 【Trade】 section.
- Select the USDT/TWD trading pair.
- Place a sell order. You can use a market order for instant execution or a limit order to specify your desired price.
Step 4: Withdraw TWD to Your Bank Account
- From your BitoPro homepage, go to 【Account】.
- Select 【Withdraw】 and choose TWD.
- Enter the amount you wish to withdraw.
- Confirm the transaction.
TWD withdrawals typically take 1-2 business days to arrive in your bank account. A fee of 30 TWD is deducted from the withdrawn amount.
👉 Explore efficient withdrawal strategies
BitoPro Withdrawal Fees Explained
Understanding the fees involved is key to minimizing costs.
Cryptocurrency Withdrawal Fees
Fees vary significantly based on the blockchain network used. For USDT, the fees are:
| Network | Fee |
|---|---|
| ERC20 | 4 USDT |
| TRC20 | 1.5 USDT |
| BEP20 | 0.1 USDT |
| Polygon | 0.1 USDT |
Tip: To save money, use networks with lower fees like BEP20 or Polygon, ensuring your receiving platform supports the same network.
TWD Conversion and Withdrawal Fees
Converting crypto to TWD involves multiple potential fees:
- Network Fee: Charged by the platform you are withdrawing from to send crypto to BitoPro. This can range from 0 to 5 USDT.
Trading Fee: BitoPro charges a fee for selling USDT to TWD.
- Maker (Limit Order) Fee: 0.1%
- Taker (Market Order) Fee: 0.2%
- You can reduce these fees by 20% by holding and using BITO, BitoPro's native token, to pay for them.
- TWD Withdrawal Fee: A flat fee of 30 TWD is charged for each bank transfer.
Withdrawal Processing Times
- Cryptocurrency: Usually processed within 5-10 minutes.
TWD (Bank Transfer):
- Requests submitted before 1:00 PM on a business day are typically processed by 3:30 PM the same day.
- Requests submitted after 1:00 PM or on a non-business day will be processed by 3:30 PM the next business day.
Always allow for potential delays during holidays or due to bank processing times.
Tax Implications for Withdrawals in Taiwan
In Taiwan, cryptocurrencies are treated as "virtual goods" for tax purposes.
- Trading one crypto for another (e.g., USDT to ETH) inside an exchange is generally not a taxable event.
- Selling cryptocurrency for TWD (fiat) is considered income and is taxable.
Your taxable income is calculated as:
(Amount from Sale - Original Cost Basis of the Crypto) + Other Income = Total Annual Income
This total income must be declared and is subject to personal income tax. It is highly recommended to keep detailed records of all your transactions and consult a tax professional for guidance.
Frequently Asked Questions (FAQ)
Q: Is there a minimum amount for withdrawal?
A: Yes, BitoPro enforces minimum withdrawal amounts for both cryptocurrencies and TWD. These limits are subject to change, so please check the official fee schedule on their website for the most accurate information before initiating a transaction.
Q: What should I do if my withdrawal is delayed?
A: Cryptocurrency withdrawals can be delayed by network congestion. For TWD bank withdrawals, first ensure you submitted it on a business day before 1:00 PM. If it's significantly delayed, the best course of action is to contact BitoPro's customer support directly with your transaction ID for assistance.
Q: Can I cancel a withdrawal after submitting it?
A: Once a cryptocurrency withdrawal is broadcast to the blockchain, it is irreversible and cannot be canceled. TWD withdrawal requests may be canceled if they are still pending processing by BitoPro, but this is not guaranteed. It's best to double-check all details before confirming any withdrawal.
Q: How do I reduce my trading fees on BitoPro?
A: You can reduce fees by using limit orders (Maker fees are 0.1%) instead of market orders (Taker fees are 0.2%). Furthermore, you can enable BITO token fee deduction for an additional 20% discount on all trading fees.
Q: Are my assets safe on BitoPro?
A: BitoPro implements industry-standard security measures, including cold storage for the majority of user funds. However, for maximum security, it is always advised to withdraw large amounts of cryptocurrency to a private wallet where you control the private keys.
Q: What banks are supported for TWD withdrawal?
A: BitoPro supports withdrawals to most major Taiwanese banks. You will need to link your bank account through the BitoPro platform after completing KYC verification. The specific list of supported banks can be found within your account's withdrawal section.