Cryptocurrency lending has become a popular way for investors to generate passive income, especially through platforms like Bitfinex. A critical step in this process is converting fiat currency—such as New Taiwan Dollar (TWD)—into a stablecoin like USDT (Tether), which can then be transferred and used for lending. This guide walks you through the process of depositing TWD to MAX Exchange and converting it into USDT, setting the foundation for effective crypto lending strategies.
Understanding USDT and Its Role in Crypto Lending
USDT, or Tether USD, is a stablecoin pegged 1:1 to the U.S. dollar. Backed by reserves, it offers the stability of fiat with the flexibility of blockchain transactions. As one of the most widely adopted stablecoins globally, USDT serves as a bridge between traditional finance and digital assets.
For users engaging in Bitfinex lending, USDT is particularly valuable. Not only can it be lent directly on Bitfinex, but it also avoids the volatility associated with cryptocurrencies like Bitcoin or Ethereum. This makes it ideal for funding loans with minimal exchange rate risk.
👉 Discover how to start earning yield on your digital assets today.
Step-by-Step Guide: Deposit TWD to MAX Exchange
Before converting to USDT, you must first deposit New Taiwan Dollar into your MAX account. Follow these steps carefully:
1. Log In and Access Your Wallet
- Sign in to your MAX Exchange account.
- Click on the menu in the top-right corner.
- Select "Wallet" from the dropdown.
2. Locate the TWD Deposit Option
- In the wallet section, find "New Taiwan Dollar (TWD)".
- Click "Deposit" (入金) next to the TWD balance.
3. Use Your Assigned Bank Account
- MAX provides a unique virtual bank account for each user.
- Only transfers from verified personal bank accounts are accepted.
- You may use ATM transfers or online banking, but in-person counter deposits are not allowed.
4. Confirm the Deposit
- After transferring funds, return to your wallet.
- Wait for the deposit to reflect—processing usually takes a few minutes.
- Ensure your TWD balance updates accordingly before proceeding.
This fiat on-ramp is secure and regulated, making MAX a trusted gateway for Taiwanese users entering the crypto market.
Converting TWD to USDT on MAX
Once your TWD is successfully deposited, the next step is purchasing USDT.
1. Enter the Trading Interface
- Click "Go to Exchange" (進入交易所).
- On the trading page, locate the BTC/TWD pair.
- Click the arrow next to it to open the market list.
2. Select USDT/TWD Market
- From the dropdown, choose USDT/TWD.
- This opens the trading interface for buying USDT with TWD.
3. Place a Buy Order
- Select "Buy" at the bottom of the order form.
- Choose "Limit Order" to control the price.
- Enter the current market price or slightly lower in the price field.
- Input the amount of USDT you wish to purchase.
Pro Tip: Bitfinex requires a minimum lending amount of 150 USD (approximately 150 USDT). Considering MAX’s current 5 TWD transaction fee, it's wise to purchase slightly above 155 USDT to ensure eligibility for lending.
4. Execute the Trade
- Click "Buy USDT" to place your order.
- The trade will execute once matched with a seller.
5. Verify Your USDT Balance
- Return to your Wallet section.
- Confirm that the purchased USDT appears in your asset list.
- If the order remains unfulfilled for an extended period, consider adjusting your price or switching to a market order—though it may incur higher fees.
👉 Learn how to maximize returns using stablecoin lending strategies.
Frequently Asked Questions (FAQ)
Q1: Why use USDT instead of USD for Bitfinex lending?
USDT offers near-instant transfers across blockchains and exchanges without significant price fluctuations. On Bitfinex, both USD and USDT are accepted for lending, so using USDT eliminates conversion fees and delays while maintaining dollar parity.
Q2: Can I deposit TWD directly to Bitfinex?
No. Bitfinex does not support direct fiat deposits from most regions, including Taiwan. You must first convert TWD to USDT via a local exchange like MAX, then transfer the USDT to Bitfinex using a blockchain network (e.g., TRC20 or ERC20).
Q3: Is there a minimum amount required to start lending on Bitfinex?
Yes. The minimum lending offer on Bitfinex is 150 USD (or equivalent in USDT). Be sure your purchase meets this threshold after accounting for any fees.
Q4: Which blockchain network should I use when transferring USDT?
When withdrawing from MAX, choose either TRC20 (Tron) or ERC20 (Ethereum). TRC20 generally has lower transaction fees, making it more cost-effective for smaller transfers.
Q5: Are there fees for buying USDT on MAX?
Yes. MAX charges a small trading fee—currently around 0.05% per transaction, plus a fixed 5 TWD handling fee for certain operations. Always check the latest fee schedule on their official site.
Q6: How long does it take for USDT to appear in my Bitfinex wallet?
After initiating a withdrawal from MAX, USDT typically arrives in your Bitfinex wallet within 10–30 minutes, depending on network congestion. You can track the transaction using a blockchain explorer with the provided TXID.
Final Steps Before Lending on Bitfinex
After acquiring USDT on MAX, your next move is transferring it to Bitfinex:
- Copy your USDT deposit address from Bitfinex (ensure correct network: TRC20 or ERC20).
- Initiate a withdrawal from MAX, pasting the address and selecting the matching network.
- Wait for confirmation and arrival.
- Once received, move funds to your Funding Wallet on Bitfinex.
- Create a lending offer in USD or USDT markets.
You’re now ready to earn interest—often ranging from 5% to 15% APY—depending on market demand.
👉 Start building your automated crypto income strategy now.
Core Keywords
- USDT lending
- Convert TWD to USDT
- MAX Exchange guide
- Bitfinex funding
- Stablecoin investment
- Crypto lending tutorial
- Passive income crypto
- TWD to USDT conversion
Risk Disclosure
The information provided here is for educational purposes only and does not constitute financial advice. Cryptocurrency investments carry inherent risks, including market volatility and platform security concerns. Neither Bitfinex nor any third party guarantees principal protection or fixed returns. Always conduct thorough research and assess your risk tolerance before participating in crypto lending activities.