BitoEX
BitoEX, founded in Taiwan in 2014, is a cryptocurrency wallet and exchange that enables consumers to buy, sell, and store Bitcoin, Ethereum, and Tether via 5,000+ convenience stores, a mobile app, and the BitoPro international exchange, holding approximately 80% of Taiwan's retail crypto market with 300,000+ registered members.
- Company typePrivate
- Founded2014
- HeadquartersTaipei, Taiwan
- Headcount11–50
- GTM typeB2C
- OfferingSoftware
What BitoEX does
BitoEX (幣託), founded in Taiwan in October 2014 by Titan Cheng, operates a cryptocurrency wallet and exchange platform that lets consumers buy, sell, and store Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) through three distribution rails: a FamilyMart FamiPort kiosk on-ramp launched in October 2014 (now covering FamilyMart, OK MART, and Hi-Life across more than 5,000 stores), a web platform and iOS/Android mobile app, and the BitoPro international exchange launched in 2018 for professional trading. The platform reports approximately 80% Taiwan retail crypto market share with 300,000+ registered members and supports cold wallet storage, a 1% convenience store transaction fee, embedded spread on BitoPro trades, and external withdrawal fees.
The technical stack combines standard exchange components (cold wallet custody, SSL Qualys Labs A-level certification) with a proprietary HIL security transaction mechanism for DOS attack prevention and a blockchain-based electronic performance certificate service that guarantees on-chain settlement within 15 days (verified by 4+ confirmations) or triggers a fulfillment procedure. API integration is offered to connect physical stores and cross-border platforms, and a Dow Jones partnership supports market data feeds. Leadership is concentrated around Founder Titan Cheng and CTO 林書維 (Jimmy Liu is listed as co-founder/CFO in some sources), with the legal entity 鴻科科技有限公司 (Hongke Technology Co., Ltd.) in Taiwan and a BVI-registered BitoEX Technology Company as the international operating entity.
BitoEX monetizes through transaction-based revenue: a 1% fee on convenience store purchases, an embedded buy/sell spread on BitoPro, dynamic external withdrawal fees calibrated to network conditions, and a TWD 5,000 recovery fee for erroneous transfers. Its go-to-market is product-led and channel-partner-led, relying on convenience store visibility and word-of-mouth in Taiwan's crypto community rather than paid acquisition. Capitalization totals $12.5M ($2.5M angel in 2014 plus a $10M round in May 2018), and stated strategic priorities are BitoPro scale-up and entry into India, Singapore, and Malaysia.
BitoEX firmographics
Firmographics- Name
- BitoEX
- Legal name
- 泓科科技有限公司 (Hongke Technology Co., Ltd.)
- Website
- https://bitoex.com
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- BitoEX, founded in Taiwan in 2014, is a cryptocurrency wallet and exchange that enables consumers to buy, sell, and store Bitcoin, Ethereum, and Tether via 5,000+ convenience stores, a mobile app, and the BitoPro international exchange, holding approximately 80% of Taiwan's retail crypto market with 300,000+ registered members.
- Ownership category
- akta.pro rank
BitoEX industry classification
Industry- Product category
- Cryptocurrency Exchange
- NAICS
- Securities and Commodity Exchanges (523210)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- POS, QR & In-Person Acceptance Infrastructure (Crypto) (FSADAIAI)
- akta.pro secondary industries
- Spot Crypto Exchanges (Order-Book & Matching Engine) (FSADAAAA), On/Off-Ramp Providers (Fiat↔Crypto) & Cash-In/Cash-Out Networks (FSADAIAE)
Keywords
Where BitoEX is headquartered
LocationHeadquarters
- HQ city
- Taipei
- HQ country
- Taiwan
- HQ region
- Asia
Offices1 record
Markets served
BitoEX business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales
Revenue model
- Convenience Store Purchase Fee: 1% service fee on the transaction amount for purchasing cryptocurrency at convenience stores
- Cryptocurrency Trading Spread: Buy and sell prices are published by BitoEX and already include transaction fees; no additional fees required at point of transaction
- External Withdrawal Fee: Dynamic fees charged when sending cryptocurrency to external wallets, varying based on network conditions to ensure faster transaction confirmation
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Convenience store purchase service fee |
| Unit Pricing | Pay-as-you-go | TWD withdrawal limits |
| Unit Pricing | Pay-as-you-go | Minimum cryptocurrency withdrawal amounts |
| Other | Pay-as-you-go | Error transaction recovery service |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels4 records
BitoEX product offering
Product offeringCore offering
BitoEX operates a virtual currency wallet and exchange platform that lets individual users buy, sell, store, and transfer Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). Its flagship distribution is the world's first convenience store cryptocurrency purchase service, integrated with FamilyMart FamiPort kiosks and mobile QR-code payments across Taiwan. The company also runs the BitoPro international exchange for professional cryptocurrency trading.
Product overview
BitoEX is a virtual currency wallet and exchange platform consisting of multiple integrated products: the core BitoEX Wallet for buying, selling, and storing Bitcoin (BTC), Ethereum (ETH), and Tether (USDT); the BitoPro international cryptocurrency exchange for professional trading; the Convenience Store Purchase Service enabling purchases at FamilyMart via FamiPort kiosks or mobile QR codes; a TWD Cash Account for managing fiat currency; and an Electronic Performance Certificate service providing blockchain-based transaction guarantees. The platform serves as a comprehensive cryptocurrency ecosystem with approximately 80% Taiwan market share and 300,000 registered members.
Differentiator
Problem solved
Functional benefit
Brands
- BitoPro: International virtual currency exchange platform offering trading services for Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
Products and services
- BitoEX Wallet Virtual currency wallet and exchange platform enabling individual users in Taiwan to buy, sell, store, and transfer Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). Provides bank account binding, fiat cash accounts, and convenience store purchase integration.
- BitoPro International Cryptocurrency Exchange International virtual currency exchange platform offering professional cryptocurrency trading services for Bitcoin (BTC), Ethereum (ETH), and Tether (USDT), operating as the international sub-brand of BitoEX.
- Convenience Store Purchase Service (超商購買服務) Allows users to purchase Bitcoin and Ethereum at FamilyMart convenience stores through FamiPort kiosks or mobile one-stop shopping QR code payments. Service fee is 1% of the purchase amount, with an additional NT$25 kiosk fee charged by FamilyMart.
- Electronic Performance Certificate (電子履約憑證)
Quantifiable outcome
- 80% market share in Taiwan cryptocurrency market
- +2 more outcomes
Companies that use BitoEX
Customer profileNamed customers2 records
Segments2 records
Ideal customer profiles2 records
BitoEX technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
BitoEX partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered flagship/core and minor.
- FamilyMart (全家便利商店)flagship/coreStrategic partnership enabling cryptocurrency purchases at FamilyMart convenience store FamiPort kiosks across Taiwan. First launched in October 2014 with approximately 2,986 stores, later expanded to over 3,000 locations. Users can purchase BTC and ETH by paying at FamilyMart counters, making BitoEX the world's first provider of convenience store crypto purchasing services.
- Dow JonesminorDow Jones is listed as a partner on BitoEX's About page, suggesting data or information service integration.
- OK MART Convenience StoresminorConvenience store chain added to expand crypto purchase locations beyond FamilyMart, bringing total store count to over 5,000 locations.
- Hi-Life Convenience StoresminorConvenience store chain added to expand crypto purchase locations, part of the multi-chain convenience store network for cryptocurrency services.
Scale indicators6 records
Recent moves6 records
Expansion highlights5 records
BitoEX competitors and assessment
Company assessmentDirect peers
- MaiCoin: Taiwan's other major domestic cryptocurrency exchange and wallet platform (operates MAX Exchange). Directly competes with BitoEX in the same regulatory jurisdiction with overlapping retail and professional trading audiences.
- ACE Exchange (ACE): Taiwan-licensed virtual asset platform offering TWD fiat on-ramps and spot trading. Competes head-to-head with BitoEX for the same regulated Taiwanese retail and institutional crypto users.
- XREX: Taiwan-headquartered crypto exchange and cross-border payment platform serving both retail and B2B stablecoin settlement. Competes directly with BitoEX in the Taiwan market and adjacent cross-border use cases.
- Modernity Financial (台灣現代財經): Taiwanese virtual asset service provider offering crypto trading and wallet services. Competes with BitoEX for domestic retail and OTC fiat-to-crypto flow.
Broad incumbents
- Binance: World's largest cryptocurrency exchange by trading volume. While not specifically retail-POS enabled, Binance competes with BitoPro for professional and retail traders across Asia including Taiwan.
- Coinbase: U.S.-listed publicly traded crypto exchange with global reach and broad asset coverage. Competes with BitoPro on professional trading and represents a benchmark for exchange scale and valuation.
- OKX: Global spot and derivatives crypto exchange with strong Asia-Pacific presence. Competes with BitoPro for active traders and offers a broader product suite including DeFi and Web3 services.
- HTX (formerly Huobi): Asia-origin global crypto exchange historically strong in Chinese-speaking markets. Competes with BitoPro across trading pairs and liquidity, especially for Taiwanese and Southeast Asian users.
- Crypto.com: Global crypto exchange and card-issuing platform with consumer app and payments features. Relevant comparable because of its emphasis on retail UX and crypto-to-fiat spending — analogous to BitoEX's convenience-store spending vision.
Emerging players
- Paxful: P2P crypto marketplace historically known for physical-location OTC and gift card fiat on-ramps. Conceptually comparable to BitoEX's convenience-store OTC model, though Paxful has been more globally distributed and less retail-chain integrated.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
BitoEX social profiles
Digital presenceBitoEX financial estimates
Financial estimateRevenue estimate
Valuation estimate
BitoEX leadership team
Management profileNumber of profiles
Profiles3 records
BitoEX subsidiaries and ownership
Company hierarchySubsidiaries1 record
BitoEX funding detail
Funding detailFunding overview
Funding rounds2 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
BitoEX M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about BitoEX
What does BitoEX do?
BitoEX operates a virtual currency wallet and exchange platform that lets individual users buy, sell, store, and transfer Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). Its flagship distribution is the world's first convenience store cryptocurrency purchase service, integrated with FamilyMart FamiPort kiosks and mobile QR-code payments across Taiwan. The company also runs the BitoPro international exchange for professional cryptocurrency trading.
Is BitoEX a public or private company?
BitoEX is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was BitoEX founded?
BitoEX was founded in 2014. It employs 11 to 50 people.
Where is BitoEX based?
BitoEX is headquartered in Taipei, Taiwan, in the Asia region.
How does BitoEX make money?
Three revenue lines are on record. Convenience Store Purchase Fee is the primary driver. The others are cryptocurrency Trading Spread and external Withdrawal Fee.
Who are BitoEX's main competitors?
Direct peers on record are MaiCoin, ACE Exchange (ACE), XREX and Modernity Financial (台灣現代財經). Broad incumbents are Binance, Coinbase, OKX, HTX (formerly Huobi) and Crypto.com. Paxful is listed as an emerging player.
Does BitoEX have an API?
Yes. Provides API integration functionality connecting physical stores and cross-border platforms for payment services and consumption channels. Users can access BitoEX services through API connections with partner platforms.
What industry is BitoEX in?
BitoEX's product category is Cryptocurrency Exchange. Its primary akta.pro industry code is FSADAIAI, POS, QR & In-Person Acceptance Infrastructure (Crypto), with a secondary code of FSADAAAA, Spot Crypto Exchanges (Order-Book & Matching Engine). Its NAICS code is 523210 and its SIC code is 6200.