In a significant move for the Taiwanese crypto market, leading global cryptocurrency exchange CoinW has announced the integration of Sofu, a trusted third-party payment service, into its Over-the-Counter (OTC) trading zone. This integration enables users in Taiwan to directly purchase cryptocurrencies like USDT using New Taiwan Dollars (TWD), streamlining the onboarding process for local investors.
This development addresses a key pain point for Taiwanese users, who previously had to convert TWD into other supported fiat currencies or use local exchanges with limited trading options. The new partnership eliminates complex procedures, extra fees, and exchange rate risks, offering a seamless and efficient gateway into the diverse world of digital assets.
Simplifying Crypto Purchases with Sofu
Sofu specializes in TWD collection, clearing, and settlement services. Its integration into CoinW’s platform means users can now directly use TWD to buy USDT and other major cryptocurrencies. Once funded, users can access a full suite of crypto financial products, including spot trading, perpetual contracts, copy trading, and ETFs—all within a single, secure ecosystem.
This enhancement is part of CoinW’s ongoing effort to improve user experience and accessibility, particularly for newcomers to the crypto space.
How to Use Sofu on CoinW in Four Steps
Getting started with TWD purchases on CoinW is straightforward. Follow these steps to buy crypto with Sofu:
- Register and Verify: Create a CoinW account and complete the mandatory KYC (Know Your Customer) verification process.
- Initiate Purchase: On the CoinW website, click “Buy Crypto” and select “One-Click Buy.” Choose Sofu as your payment method, enter the amount and currency you wish to purchase, and review the details.
- Confirm Transaction: Verify the payment information and select your preferred transfer method. Click “Confirm” to proceed.
- Complete Payment: After submitting the order, follow the on-screen instructions to transfer the TWD amount. Your crypto assets will be credited to your account upon confirmation.
For those who prefer in-person guidance, CoinW offers extensive support. 👉 Explore more strategies for easy crypto onboarding
Beyond Online Payments: CoinW’s Localized Support in Taiwan
CoinW’s commitment to the Taiwanese market extends beyond its online platform. It boasts the highest number of partnered OTC physical service locations in the region, with over 20 brick-and-mortar stores. These locations provide invaluable services, allowing users to complete their KYC verification and deposits in person. They also offer hands-on operational tutorials, making the platform particularly accessible for those less familiar with digital asset exchanges.
Further supporting its educational mission, CoinW has established the CoinMan Academy. This initiative features a professional讲师团队 (lecturer team) composed of seasoned crypto investors and traditional finance bankers. The academy aims to equip new investors with correct market knowledge, sound investment concepts, and practical know-how for navigating the crypto ecosystem safely and effectively.
A Focus on Security and Global Accessibility
Since its founding in 2017, CoinW has prioritized user security and a seamless trading experience. Its OTC service operates under strict Anti-Money Laundering (AML) standards and employs comprehensive customer due diligence processes. The platform reserves the right to refuse transactions from high-risk entities, ensuring a secure environment for all users.
Globally, CoinW supports over 40 fiat currencies, including USD, GBP, and EUR, and offers credit card purchases. It serves nearly ten million users across more than 200 countries and regions, backed by a professional 24/7 online customer support team ready to address any issues promptly.
Frequently Asked Questions
Q: What is Sofu, and how does it work with CoinW?
A: Sofu is a third-party payment service specializing in New Taiwan Dollar (TWD) transactions. Its integration with CoinW allows users to directly deposit TWD to purchase cryptocurrencies like USDT, simplifying the process and avoiding foreign exchange conversion.
Q: What can I trade on CoinW after purchasing USDT with TWD?
A: After funding your account with USDT, you gain access to a comprehensive suite of crypto products. This includes spot trading for various cryptocurrencies, perpetual contracts, copy trading features, and ETF products, providing diverse investment opportunities.
Q: Is it safe to use CoinW's OTC platform?
A: Yes, CoinW implements robust security measures for its OTC service. This includes strict AML compliance, thorough customer checks, and a secure escrow system for transactions. These protocols are designed to protect user assets and prevent fraudulent activities.
Q: Where can I get help if I'm new to CoinW?
A: CoinW provides multiple support channels. You can access their 24/7 online customer support. Additionally, in Taiwan, you can visit one of their many partnered OTC physical locations for in-person assistance and tutorials. The CoinMan Academy also offers educational resources for beginners.
Q: Why was this integration with Sofu important for the Taiwanese market?
A: Previously, Taiwanese users had to convert TWD to another currency like USD, incurring extra fees and exchange rate risks, before buying crypto. The Sofu integration removes this intermediate step, offering a faster, cheaper, and more straightforward method to enter the crypto market using local currency.
Q: Are there any fees for using Sofu to buy crypto on CoinW?
A: While specific fees can vary, using Sofu typically avoids the foreign exchange conversion fees that were previously necessary. Always check the latest fee schedule on the CoinW platform during the transaction confirmation step for the most accurate information.