Top 7 Indonesia Crypto Exchange List 2024

Cryptocurrency trading has become a major business model in Indonesia mainly because the government has realized the potential growth of digital finance. The recent tenders announced in Indonesia bring all crypto operations within a legal framework. Indonesia is rapidly becoming a hub of bitcoin trading as more people are showing interest in exchanging fiat currencies for digital. Seeing this, major popular and big trading firms have opened their exchange crypto di indonesia. Let’s look at some of the best crypto exchanges in Indonesia with platform details.

Key Takeaways

• Identify the leading 7 Indonesian crypto exchanges for your consideration.
• Uncover detailed reviews of each platform, analyzing features, advantages, and disadvantages.
• Gain a solid understanding of the core principles governing cryptocurrency exchanges.
• Utilize a comprehensive comparison table to evaluate key metrics across all exchanges efficiently.

List of Top 7 Crypto Exchanges in Indonesia

Before getting into crypto trading, selecting the best crypto exchanges is essential. Below, we have the best Indonesian crypto exchange list based on their features, pros and cons, fees, and many other aspects to give our readers better clarity.

1. Binance

Binance Exchange is a premier crypto exchange and wallet designed for experienced investors. It is considered a platform crypto terbaik di dunia concerning trading volume. Founded in 2017 by Changpeng Zhao, Binance Exchange is among the first decentralized crypto exchanges, boasting over 169 million users globally. Binance is particularly appreciated by experienced traders in Indonesia and outside who can trade in more than 350 cryptocurrencies and a wide range of fiat currencies. Explore the Binance review page to gain better insight.

Why We Chose It?

Binance thrives in offering a versatile and diverse trading platform. Its constant updates and the development of new tools show that the platform strives to meet the needs of all users. By promoting education and engagement, the exchange enables traders to make informed decisions and thrive in the constantly changing crypto market environment.

Key Features:

• Many trading products include Auto-Invest, ETH Staking, Launchpad & Launchpool, Academy, Pay, Exchange, Leveraged Tokens, Research, Charity, and more.
• More than 350 tradable cryptocurrencies for Indonesian traders, including Bitcoin, Ethereum, and Solana.
• Operates with extensive and strong licensing, ensuring accessibility without any direct regulation
• Copy trading features allow beginners to copy the trades of professionals.
• Advanced trading tools, including margin and futures trading, are tailored to accommodate individuals of different experience levels
• Multiple order types, including market order, limit order, stock market order, and trailing stop order

Pros and Cons

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2. Bybit

The Bybit cryptocurrency exchange was launched in 2018 and offers a secure, fair, safe, and transparent trading platform. This platform is suitable for trading veterans & those who are ready to move on to more complex derivatives. It is one of the popular crypto exchanges in Indonesia, having the highest trading volumes in crypto derivatives. Refer to the Bybit review page for a more comprehensive understanding.

Why We Chose It?

Unlike other trading platforms, Bybit has adopted a user-focused approach to ensure that it adds value to the trader’s needs as they evolve. Its focus on openness and safety, coupled with new tools and programs, provides a solid foundation for beginners and professionals.

Key Features:

• Provides full access to various trading features such as isolated margin and cross trading.
• A dedicated NFT marketplace to allow buying, selling, and exploring hundreds of NFTs without paying high fees.
• Copy trading feature to leverage the experience of professional traders and copy their trading strategies.
• Exclusive VIP program to offer exclusive promotions, discounts, and gifts for elite traders.
• Allows limit orders, conditional limit orders, advanced orders, and stop-loss orders.
• Presents various analysis tools such as moving averages, monthly price ranges, and other indicators.
• Loan service allows traders to borrow multiple cryptocurrencies using their digital assets as collateral, facilitating liquidity management and leverage.

Pros and Cons

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3. Coinbase

Established in 2012, Coinbase facilitates crypto-to-fiat conversions in over 32 countries, including Indonesia. The platform has various notable features, for which it is considered one of the best cryptocurrency exchanges in Indonesia. It has a highly dedicated and responsive support staff, making it a good fit for both new and experienced traders. For detailed information about the features, read the Coinbase review page.

Why We Chose It?

Overall, Coinbase stands out for the security and simplicity of its trading platform, which can be useful to both beginners and experienced traders. It focuses on a set of features that make trading in cryptocurrencies as efficient as possible, with minimal risks, and also provides a knowledge section for users.

Key Features:

• Offers unique features such as Coinbase Advanced, Coinbase Earn, Coinbase Card, and more.
• Loan service allows traders to withdraw cash loans by keeping their BTC deposits as collateral.
• Supports multiple payment methods for crypto purchases, including bank transfers, debit or credit card payments, wire transfers, and e-wallet payments.
• Offers API documentation to allow businesses to use and review Coinbase products.
• Offers mobile wallet to hold digital assets securely on the platform.

Pros and Cons

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4. Kraken

Kraken is one of the best crypto exchanges in Indonesia and has a reputation for providing innovative and interactive interfaces for crypto trading. The interface is designed to help novice traders understand and reap the benefits of bitcoin trading. Kraken’s reputation also rests on its quick and secure way of accessing bitcoin trading. Refer to the Kraken review page for a more comprehensive understanding.

Why We Chose It?

Kraken’s key features include its strong security and a vast amount of educational content for users. These features make Kraken a secure trading platform with helpful information on the cryptocurrency market. These features make Kraken a perfect spot for any pro or novice trader looking for a good and informative trading platform.

Key Features:

• Major services offers:

  – Crypto Trading

  – Margin Trading

  – Future Trading

• Multiple crypto and fiat funding options with low processing time
• High liquidity crypto exchange that offers maximum flexibility, supporting every trader’s trading strategy
• Traderable NFTs are available on the platform
• Margin trading with up to 5X leverage
• Personalized OTC trading from the Kraken Trade Desk

Pros and Cons

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5. Indodax [Bitcoin Indonesia]

Indodax, popularly known as the Indonesian Bitcoin and crypto exchange platform, is a dedicated Indonesian crypto platform that was launched in 2014. Indodax is registered and directly supervised by BAPPEBTI and the Ministry of Communication and Information. The platform has more than 6.5 million registered users and more than 200 coins to trade.

Why We Chose It?

Indodax is designed for Indonesian users and guarantees their safety and convenience when trading. The constantly developed and improved tools and community support make the platform reliable for traders with different levels of experience in the region.

Key Features:

• To enhance the security of every transaction made on Indodax, two-factor authentication protection is provided using Google Authenticator, email, and SMS verification.
• Easy deposits and withdrawals are enabled through a wide range of payment methods accessible via laptops, tablets, and smartphones
• The Indodax Chart Analysis feature makes it easy for investors and traders to make transactions, optimise profits, and reduce losses.
• The useful stop-loss feature helps manage the risks of rapid price fluctuations, allowing traders to determine the right price at which automated trading is triggered.

Pros and Cons

6. Payeer

Payeer is a highly recommended exchange platform that offers diverse features and services and access to a range of crypto functionalities suited for individual needs. Essentially, Payeer serves as a virtual wallet for crypto and fiat assets and acts as a crypto exchange, providing traders with seamless trading and funds management. Keep reading this Payeer review to dive deep into the platform’s features, pros and cons, supported cryptocurrencies, and exchange fees.

Why We Chose It?

Payeer platform is unique due to its versatility and the range of services that it offers. It is suitable for users who are in search of an effective means of handling both cryptocurrencies and traditional money. The emphasis on convenience and the speed of operations will make it comfortable for all types of traders.

Key Features:

• Offers a popular digital or electronic wallet that allows users to trade and store a wide range of assets, including crypto and Fiat.
• Charges relatively lower fees than other competitors in the market
• Registered crypto exchange for storing and trading cryptocurrencies directly in popular digital wallets.
• Provides virtual solutions for both businesses and individuals
• The affiliate program provides referrals for users with a 25% fee charged by Payeer from referred users to reward them.

Pros and Cons

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7. Bitstamp

Bitstamp has a proven track record in the crypto trading market as one of the oldest crypto exchanges in the world, catering to all types of traders. Established in 2011 and headquartered in the UK, it boasts a user base of over 23,000 retail investors. Bitstamp focuses on providing financial services to clients worldwide, who can trade across a multitude of cryptocurrencies and deposit or withdraw funds using their choice of payment methods through credit and debit cards or bank accounts. For in-depth analysis, you can refer to the Bitstamp review page.

Why We Chose It?

In the world of cryptocurrency, the Bitstamp platform is known for its stability and longevity and for being a pioneer in the field. This is because the platform offers high levels of security and accessibility while simultaneously providing complex trading tools for a wide range of traders.

Key Features:

• Provide over 80 cryptocurrencies to trade.
• Excellent user experience for traders of all experience levels, including beginners and experienced traders
• Supports seamless crypto-to-fiat and fiat-to-crypto conversions
• Easy navigation for instant, market, limit, or stop orders.
• A convenient and secure mobile app, perfectly optimized for Android and iOS devices.

Pros and Cons

Comparing the Best Crypto Exchanges in Indonesia

Exchange Logo	Available Coins	Minimum deposit	Fees (Maker and Taker)	Unique Features
	400+	$10	0.380% & 0.570%	Top Crypto Exchange In the Crypto Trading World
	100+	50 USDT	0.15% & 0.20%	24/7 Customer Support
	250+	$50	0.05% to 0.60% & 0.00% to 0.40%	Most Secure Crypto Exchange in the World
	240+	$0	0.25% & 0.40%	Innovative and Interactive Interfaces for Crypto Trading
	200+	1000	0.1% & 0.2	Allows Large Number Of Digital And Fiat Currencies
	14	Vary from coin to coin	Not clear	Charges Relatively Lower Fees Than Other Competitors
	90+	Variable fee	0.30% & 0.40%	Excellent User Experience for Traders

*Disclaimer: The fee structure may vary based on trading volume. Rates are subject to change and can fluctuate according to market conditions.

Basic Cryptocurrency Law and Regulations in Indonesia

Indonesia has not banned the use of cryptocurrencies but has placed restrictions on them. The Commodity Futures Trading Regulatory Agency (BAPPEBTI) monitors the market, categorizing cryptocurrencies as commodities that can be traded. BAPPEBTI requires exchanges to register with them and adhere to very stringent requirements. Also, the Ministry of Communication and Information is responsible for compliance concerning the security of the digital asset. Cryptocurrencies are not an exception to the AML/CFT rules as they are also under the rules of these regulations. These regulatory frameworks allow the trade of cryptocurrencies, although they are not legal tender, to maintain market integrity and protect consumers.

Our Methodology

Here are some common points that we have considered for creating the best crypto platforms for traders:

• Platforms regulations.
• Basic And Advanced Trading Features
• Trading Fees and Withdrawals Fees
• Safety and Security Measures
• Educational Resources
• User Feedback
• Platform Usability (Desktop and Mobile)

Learn more about our approach to reviewing Crypto Exchange platforms. Explore our methodology!

Conclusion

Cryptocurrency is a rapidly evolving field with exciting possibilities. Despite the uncertainty, the cryptocurrency market has a bright future as a new investment option. More and more people are jumping in, and countries like Indonesia are working on regulations to make buying and selling crypto safe and smooth. These exchanges can adapt to legal requirements and become successful businesses, all while helping create a well-organized crypto market.

How to Select the Best Cryptocurrency Exchange in Indonesia?

The trickiest part of crypto trading is choosing a platform that suits your needs. Users must consider several criteria before investing their money in trading. They must look into aspects like bank currency support, accessibility, bank transfer charges, and the reputation of the Indonesian crypto exchange. They must understand that cryptocurrency is volatile, decentralised, and anonymous, unlike the standard bank currency. Thus, an investment in it must always begin with thorough research.
Follow these basic questions to get answer for the best crypto trading platform for self:

Does that Crypto Exchange Support Indonesian Rupiahs?

The users must look for and choose the exchange that supports Indonesian Rupiah through bank transfer. This is because using a site that supports bank transfer deposits is the easiest method to buy and trade Bitcoin with IDR.

Fee Structure of Crypto Exchange

If users are planning to buy or sell crypto coins, they must have a comprehensive understanding of the exchange’s fee structure. Exchange sites are a business model that emerged along with bitcoin trading, not a service. So, users would be charged for transferring funds from their accounts. Users must compare several exchange points and choose the one that is likely to bring a better profit.

Deposits and Withdrawals Charges

An exchange charges the users for various services, such as deposits, withdrawals, and trading. Quite a few of these exchanges do not charge the users for any deposits they make to invite more funds from them. Some of them are still charged for such services. However, they make up for it through other features such as safety and trading.

Security of Crypto Platform

Security is one of the foremost concerns of an exchange. Still, crypto wallets are not as safe as bank accounts, and users must consider several security features before transferring the funds to the wallet, like 2-factor authentication, cold wallet, SMS alert and more.

Is Platform Licensed?

Always look for a platform with a license from a concerned authority like the Financial Services Authority. A supervisory board exists to oversee cryptocurrency exchange and transactions in Indonesia. Moreover, the legal framework around crypto and bank fiat currency is actively being shaped.

How to Trade Cryptocurrency in Indonesia?

1. Find a suitable cryptocurrency exchange platform: Look for a reputable exchange that operates in Indonesia and offers your interest in cryptocurrencies.
2. Register yourself on the chosen platform and complete KYC (Know Your Customer) verification: This will involve providing personal information and documents to verify your identity.
3. Fund your account using a payment method accepted by the exchange: Most exchanges in Indonesia allow deposits using Indonesian Rupiah (IDR) via bank transfer or debit/credit card.
4. Finally, start trading your chosen cryptocurrencies! Once your account is funded, you can explore the exchange’s platform to buy and sell cryptocurrencies. Remember to do your research before making any trades.

Crypto Tax Regulations In Indonesia

Crypto transactions in Indonesia are taxed under the monitoring and authority of the Directorate General of Taxes, a subsidiary of the Ministry of Finance, according to the Finance Minister Regulation. Traders engaging in cryptocurrency transactions on licensed and regulated exchanges registered with Bappebti must have 0.11% VAT (value added tax) and 0.1% PPh (income tax) on the transactional value.

For unregistered crypto exchanges in Indonesia, the rates double to 0.22% VAT and 0.2% Income Tax. Cryptocurrency exchanges manage the taxes, thereby simplifying the compliance standards and procedures for traders who need to report their cryptocurrency holdings in their tax returns every year.

FAQs

Which Crypto Exchange Is Licensed in Indonesia?

Binance, Indodax, Kraken, Coinspot, Coinbase, HitBTC, Bitcoin Indonesia, Abra, Paxful, and Bitfinex are some of the most popular licensed sites for cryptocurrency exchange.

Can You Trade Crypto in Indonesia?

Yes, anyone can trade crypto in Indonesia. However, blind investments in bitcoin trading do not ensure any return. So, one must extensively research various types of crypto coins and the features of the exchanges to select the one that would be beneficial.

Does Indonesia Have a Crypto Tax?

Indonesia does have crypto taxes. Since cryptos are considered commodities, they charge income tax and value-added tax for transactions.

Are there any exchanges in Indonesia suitable for new investors?

Indeed, Binance, Indodax, and Coinbase are good cryptocurrency exchanges for newcomers in Indonesia.

Do I need to verify my account to use an Indonesian crypto exchange?

Yes, it is advisable to complete the account verification process with the Indonesian crypto exchange as per the regulation and for the safety of the trader’s digital assets.