Buy Bitcoin in Indonesia

Indonesia Bitcoin 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.

 

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

Bitcoin.co.id Indonesia Bitcoin Exchanges

INDODAX – Indonesia Digital Asset Exchange, formerly known as Bitcoin.co.id is the largest Cryptocurrency Exchange 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.

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.They Strive to be a Top-Tier Crypto-Exchange by providing a platform that is Simple, Instant, and Secure.

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

In the brink of the increasing Crypto Hype in 2018, we’re seeing more Cryptocurrency Exchange Expansion plans taking off. Most Notably being Coinone which is South Korea’s third largest Cryptocurrency Exchange to expand to Indonesia and begin operations in May 2018. Currently, Coinone is ranked at 27th amongst global Crypto Exchanges, and it’s trying to enter the global market with Indonesia as a starter as Coinone Explains that Indonesia is “Highly Regarded for its Potential Growth in the Fintech Industry”.

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


 Peer-to-Peer Exchanges

LocalBitcoins

Localbitcoins is the world most popular Bitcoin Peer-to-peer marketplace that provides users with an alternative way to obtain and trade digital currencies within a local country. This P2P marketplace has been around for a very long time and was originally based from Finland since 2012, the goal to connect Bitcoin buyers and sellers via an open, peer-to-peer marketplace and has since become a popular service in Indonesia.

A platform that offers seller and buyers from around the world to meet and trade Bitcoin in countries worldwide has become the most popular Bitcoin P2P for Indonesian citizens. Anyone can find buyer/sellers of Bitcoin and directly initiate a trade request with users that are trusted based on the built-in rating system. Essentially, Localbitcoins provides an Escrow service that act’s as a third-party to ensure that trades are conducted fairly

Localbitcoins has developed a good reputation and established itself in a large number of countries around the world, with the site currently listing exchangers in 15582 cities across 248 countries.

Go to LocalBitcoins | Review


Remitano

Remitano Indonesia Bitcoin Marketplace

Owned by the Seychelles-based company Babylon Solutions Limited, Remitano has been around since 2016 connecting Bitcoin buyers and sellers on an open, peer-to-peer marketplace. Unlike LocalBitcoins.com, this exchange offers alternative Markets such as Bitcoin Cash & Ethereum providing more alternatives when compared to P2P Bitcoin-only Exchange Network. Remitano, only requires you verify your email address, allowing anyone to bitcoin via a seller on the platform without requiring additional verification

By using the site users can create and list advertisements, communicate with prospective buyers and sellers and confirm all the transaction details before finalizing any trade. Since Remitano is popular among Thai’s it likely to remain one of the more active decentralized marketplace for buyer/sellers of digital currencies such as Bitcoin, Ethereum & Bitcoin Cash

Go to Remitano | Tutorial | Review


MyCelium Local Trader

MyCelium Local Trader takes a much more Mobile Approach to P2P Trading of Cryptocurrencies. A project by Megion Research & Development GmbH with numerous other products such as Bitcoin Wallet, Entropy, Bitcoincard, Mycelium Gear (a payment gateway), ATMs, Local Trader, and Tabtrader. This Project is based in Vienna, Austria.

Available on both iOS and Android, this decentralized in-person Exchange helps traders find buyers and sellers of Bitcoin by setting up Advertisements. The great thing is that there are absolutely NO FEES aside from the transaction costs, but Peer-to-Peer Marketplaces are known for users who sell at a significantly Marked up rate. Though MyCelium Local Trader sees to offer an alternative to obtaining Cryptocurrencies locally through a face to face deal and is synonymous to LocalBitcoins.

Go to MyCelium Local Trader


 

 

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