Buy Bitcoin from Indonesia's top Crypto Exchanges
Unlike the rather Regulatory friendly neighboring countries of Indonesia, this Particular South East Asian Nation has a degree of challenges when it comes to Blockchain Regulation. The Central Bank of Indonesia warns its Citizens about the risks associated with trading Cryptocurrencies and reiterates that it is not legitimate within Indonesia from a press release on Jan 13th. The issues stem from the concerns over Money Laundering and Terrorist Financing. This is seen with the voluntary closure of two Cryptocurrency Exchanges in Indonesia “TokoBitcoin” and “BitBayar”. The Central Bank has their own Anti-Cryptocurrency Campaign claiming that:
''Virtual currencies are vulnerable to bubble risks and susceptible to be used for money laundering and terrorism financing, therefore can potentially impact financial system stability and cause financial harm to society.''
Bank of Indonesia has attempted to cracks down on Bali bitcoin business in the past
Though amidst the Republic’s Central Bank of Indonesia’s distaste and opposition towards Cryptocurrencies, there is No Official Ban on Bitcoin and Cryptocurrencies in the Country. All of the statements and opinions presented by the Central Bank are advice on the risks associated with buying, selling, and trading with digital assets such as Cryptocurrencies. In our current Era, it is indeed the Wild, Wild West of Crypto. And the recent statement does indeed shed a harsher tone. But its all to warn the general public on its risks.
Ultimately there are numerous Exchanges and Peer-to-Peer Marketplaces that have decided to set up shop on Indonesian Soil. Even one of South Korea’s Top Three Cryptocurrency Exchanges (Coinone) had launched their Exchange in Indonesia.
It’s clear that Bank Indonesia is exceptionally concerned, if not, dismissive towards Cryptocurrencies. Regardless, it is NOT Banned, further, it would be unconstructive to not allow some level of regulation to allow Cryptocurrencies and Blockchain Technology to grow from its Nascent position.
Hence why there are a number of Startups, Marketplaces, and Exchanges that have decided to sprout in the Tropical Nation, with International Interest from foreign firms with Expansion Plans. In this Comprehensive List we will be sharing and reviewing several Cryptocurrency Exchanges and Peer-to-Peer Marketplaces which have gained popularity and growth in Indonesia.
Crypto Exchanges
INDODAX
INDODAX – Indonesia Digital Asset Exchange, formerly known as Bitcoin.co.id is the largest Cryptocurrency Exchanges in Indonesia currently. Founded by the CEO Oscar Darmawan, this Crypto Exchange is headquartered in Bali, Indonesia. It is so large that it is on the verge of overtaking the Indonesian Stock Exchange in terms of users according to Indonesia Central Securities Depository.
It will have approximately 1.5 Million users by the end of 2018, with more than 1 Million Members as of 2018 itself. They indeed have a very stable platform which accepts Fiat-to-Crypto (Indonesian Rupiah) and Crypto-to-Crypto transactions for engaging in their exchange. Their fee structure only charges a 0.3% for market takers and 0% for market Makers to incentivize liquidity. This Cryptocurrency Exchange houses numerous Cryptocurrencies such as Bitcoin, Ethereum, Ripple, Dogecoin, Litecoin, Bitshares, DASH, NXT and XEM with 0% trading fee.
With exceptional Customer Support and Overall Service, it’s no wonder that it’s grown to be the largest Cryptocurrency Exchange in Indonesia.
Go to Indodax.com
TokoCrypto
TokoCrypto is considered to be one of the newer Exchanges in Indonesia which had launched in June 2017.
They Strive to be a Top-Tier Crypto-Exchange by providing a platform that is Simple, Instant, and Secure.
With a Customer-Oriented approach, there is significant room for growth for this Exchange as they currently only have Bitcoin and Ethereum listed to be traded for using the Indonesian Rupiah.
Having Officially launched on the 8th of April 2018, soon enough they will house additional Cryptocurrencies to trade, such as Ripple, Litecoin, Neo, Cardano, Swipe, and more.
Go to TokoCrypto
Luno
The Infamous Luno, formerly known as BitX, is one of the oldest and well-established Cryptocurrency Exchanges out there. Based in the UK and established in 2013, this Company has become an early mover in the Cryptocurrency Exchange Field as 2013 was still early in the years for Crypto. With a reputation for having a Secure, Reliable, and Safe Exchange, they’ve expanded from their traditional BTC/Fiat pair to add Ethereum services too. Now thanks to several series of fundings, they’ve expanded their services to other Markets such as Nigeria, Singapore, South Africa, Malaysia and Indonesia.
As a result from the increasing demand for Cryptocurrencies in South East Asia, Luno has had quite an impact in the Asian Markets in providing citizens access to the Cryptocurrencies. Citizens of Indonesia will benefit from the considerably affordable rates due to increased competition and having been in the game for several years. They accept Bank Transfers, International Wire, Credit Card and BTC + ETH deposits and a simple user interface to engage with.
Go to Luno.com/id
CoinOne
Their CEO Cha Myunghun is very positive on the growth potential since its inception in 2014. As soon as the Exchange launches in Indonesia, it will offer services for Bitcoin, Bitcoin Cash, Litecoin, and QTUM. Soon enough they intend on adding Ethereum, Ethereum Classic, and more Altcoins to their Exchange.
Keep your eyes peeled for updates on the launch of this exchange right here!
Go to Coinone.co.id
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Keep up to date with Indonesian Bitcoin Exchanges, by visiting ''Buy Bitcoin in Indonesia'' page, we will monitor each of the services listed to ensure that our readers use reliable and trusted Exchanges to trade Cryptocurrencies
I am really happy to see this post. It is a great news @crypto.hype. Please can you guide us in another post like this that how any one can buy crypto currencies through Indonesia? Thank you dear.
We will do more detailed reviews of each of the Exchanges in the future! Right, now we have 1 person charge of reviewing all the Indonesia Exchanges, so it may take some time. But, you can expect simple step-by-step guide on how to buy Bitcoin in Indonesia using one the exchanges mentioned above
Great dear. I will be in contact with you so that we can expand it to other members on steemit. It will really helpful for most of the steemit members.
Informasi yang sangat berguna sekali,untuk pemula seperti saya @cryto.hype
instead indodax, i just know other trade market.. nice info
You're welcome! There is going to be plenty of alternative in the future
i actually saw this exchange through storiqa ....i must say its a good exchange
mantap gan artikelnya tapi untuk saat ini saya masih cenderung pakai indodax. silahkan mapir gan ke tempat saya buat nambah nambah indo tentang bitcoin
Appreciate the positive Feedback! We prefer using IndoDax aswell
Informasi yang berguna sekali. Terima kasih telah berbagi.
We are here to raise more awareness! I hope all you, use the right services to trade Bitcoin in Indonesia
when steemit / dollar steemit can be sold at indonesia's trade market ? :))
Still waiting for that day! It will take some time but eventually one of these Exchanges is going to have a dedicated trading pair for Steem/SteemDollar! This platform is going growing and Steem is gaining in value, if would be a mistake not to list Steem-traded pair on Indonesian Exchanges
Saya sangat setuju dengan program tersebut,sekarang saya mengerti dan faham,karya yang sangat bermanfaat sahabat,,terimakasih telah berbagi,sukses selalu sahabat,@cryto.hype
Sama-sama! Kami berharap dapat meningkatkan kesadaran akan Cryptocurrency di Indonesia, saya berharap negara Asia Tenggara ini menjadi lebih pro-Bitcoin
Iya sahabat saya harap juga begitu,bangsa indonesia harus bangga memiliki putra bangsa yang jenius saperti anda sahabat,maju terus ,,,@crypto.hype
That's good news for Indonesian .
If I can give you guys my opinion for a good ICO, I discovered an exciting one: RAWG. If you want to have a look and get some information, the ICO will start by the end of the month.
The ICO site is this one: https://token.rawg.io/.
It's a video game discovery platform that converts your skills into goods and services.
You can earn tokens by playing your favorite games. The site is already working, with more than 50,000 games in the database and new games are getting added every day. This is the site: https://rawg.io/
Quite good looking, don't you think?
Have a look. I hope this information is helpful.