Find the 10 Best Crypto Exchanges in Indonesia 2024

Cryptocurrency trading has become a major business model in Indonesia mainly because the government has realized the potential growth of bitcoins. 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 interested in exchanging fiat currencies for bitcoin. So, several of the most popular crypto firms in the world have opened their exchanges in Indonesia.  So, if you are interested in starting your crypto trading journey in Indonesia, check out our detailed list of the best crypto exchanges in Indonesia.

BEST CRYPTO EXCHANGES IN INDONESIA FOR 2024

TOP CRYPTO EXCHANGES IN INDONESIA BEST FOR
Binance Top Crypto Exchange In Crypto Trading World
Bybit 24/7 Customer Support
Coinbase Most Secure Crypto Exchange in the World
Kraken Innovative and Interactive Interfaces for Crypto Trading
OKcoin Best Liquidity Rates Available
Bitcoin Indonesia Allows Large Number Of Digital And Fiat Currencies
Abra Best Site for Fiat Currencies
Nicehash Advanced Charting Tools to Help Traders
Payeer Charges Relatively Lower Fees Than Other Competitors
Bitstamp Excellent User Experience for Traders

Why Do You Need Crypto Exchanges?

If you have decided to try crypto trading, an exchange site offers the best way to buy, sell, and trade crypto coins. This is because an exchange trading platform is often the simplest means to acquire the cryptocurrency of your liking.

These exchanges also provide an easy and much safer environment for exchanging crypto coins. Apart from the security features, the user-friendly system on many popular exchanges helps even novice traders participate in the business.

There is a growing interest among traders in Indonesia to buy, sell, and trade popular and profitable coins such as Bitcoin, Ethereum, Litecoin, etc. This article talks about the ways to buy Bitcoins and covers other aspects of Bitcoin trading; if you are interested in starting your crypto trading journey, let’s check our reviewed best crypto exchanges in Indonesia.

List of Top 10 Crypto Exchanges in Indonesia

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

Binance

Binance Exchange is a premier crypto exchange and wallet designed for experienced investors. It is considered the world’s largest crypto exchange regarding trade volume. Founded in 2017 by Changpeng Zhao, Binance Exchange was one of the first decentralized crypto exchanges to be developed in China. Based on this Binance review, 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 depending on the users’ location. Traders can also explore different trading options and tokens that Binance exchange features for seamless trades across various markets, including futures trading, spot trading, margin trading, and crypto trading.

Features of Binance

  • Many trading products include Auto-Invest, ETH Staking, Launchpad & Launchpool, Academy, Pay, Exchange, Leveraged Tokens, Research, Charity, and more. 
  • More than 150 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 
  • Low fees compared to the industry-average for Indonesian traders 
  • Strong security features, including two-factor authentication via Google authenticator

Binance - Best Crypto Exchange Indonesia

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Cryptocurrencies Supported

Binance exchange supports over 150 cryptocurrencies on its platform including Cardano (ADA), Bitcoin (BTC), Bitcoin Cash (BCH), Holo (HOT), Tether USD (USDT), USD Coin (USDC), Stellar (XLM), Dash (DASH), Atom (ATOM), EOS (EOS), Binance Coin (BNB), Ethereum (ETH), Ethereum Classic (ETC), Chainlink (LINK), Litecoin (LTC), Ripple (XRP), and many more.

Binance Exchange Fees:

There are no variable fees charged on Binance except – 

  • A flat 0.10% trading fee is charged for spot trading. 
  • Variable withdrawal fees are charged based on trading volume. A flat withdrawal fee of 0.0004 BTC is charged on Bitcoin withdrawals. 
  • Offers a discount of 25% on spot and margin trading fees applicable to those who pay as a registered VIP trader on the platform.

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 top crypto exchanges in Indonesia, having the highest trading volumes in crypto derivatives. The traders can find 24/7 excellent customer service, an ultra-fast matching engine, and multilingual community support. Bybit’s order book allows traders to access the depth of the market and current trading volumes.

Features of Bybit

  • 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 gas 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. 
  • 24×7 customer support is available in 11 different languages. 
  • Loan service allows traders to borrow multiple cryptocurrencies using their digital assets as collateral, facilitating liquidity management and leverage.

Bybit Crypto Exchange

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Cryptocurrencies Supported

A total of 404 cryptocurrencies are supported on Bybit crypto exchange, including Bitcoin (BTC), USD Coin (USDC), Bitcoin Cash (BCH), Dogecoin (DOGE), Gala (GALA), Avalanche (AVAX), Chainlink (LINK), Ethereum (ETH), Optimism (OP), Cosmos (ATOM), Filecoin (FIL), dYdX Token (DYDX) and many more.

Bybit Exchange Fees

Bybit charges – 

  • Maker fees of -0.025% and taker fees of 0.075%, offering a 0.025% maker fee rebate, resulting in a net cost of 0.05%. 
  • The funding rate or funding fee is -0.02%/0.02%. 
  • Variable trading fees for different products and VIP levels
  • Does not charge any fees for making deposits on the platform.

Coinbase

Coinbase is popularly known as one of the biggest cryptocurrency exchanges in the world, with more than 56 million verified users who are constantly trading, buying, and selling cryptocurrencies on the platform. More than 240 listed cryptocurrencies can be traded at low trading fees on the perfectly optimized Coinbase mobile app, which is compatible with Android and iOS operating systems. Established in 2012, Coinbase facilitates crypto-to-Fiat conversions in over 32 countries, including Indonesia. According to this Coinbase Review, for its notable features such as mobile wallet, Coinbase Advanced, Coinbase Earn, Card, and Affiliate Program, it is considered the best cryptocurrency exchange in Indonesia with a highly dedicated and responsive support staff.

Features of Coinbase

  • Offers unique features such as Coinbase Advanced, Coinbase Earn, Coinbase Card, Coinbase NFT, compensation, and insurance against fund loss and hacking events. 
  • 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.

Coinbase - High Ranked Crypto Exchange Indonesia

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Cryptocurrencies Supported

Coinbase supports more than 200 tradeable crypto assets, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Solana (SOL), Ripple (XRP), USD Coin (USDC), Cardano (ADA), Avalanche (AVAX), Dogecoin (DOGE), Chainlink (LINK), Litecoin (LTC), Bitcoin Cash (BTC), and many more.

Coinbase Exchange Fees:

Coinbase exchange fees vary significantly across nations. Traders in Indonesia are charged with spreads of about 0.5% on crypto trades and purchases. A flat fee of 1% is charged by Coinbase on all crypto transactions, irrespective of the trading volume or transaction size. The taker fees range between 0.05% and 0.60%, while the maker fees fall between 0.0% and 0.4% based on the trade volume. Coinbase does not charge fees on deposits made on the platform. However, for crypto withdrawals, traders must pay the standard withdrawal or network fees based on where they reside and transfer their crypto.

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.

Moreover, it is one of the forerunners of crypto trading, as the site has been operating since 2011. However, get honest Kraken exchange reviews from our page and know the insights of the exchange in detail.

Features of Kraken

  • A world-class group of security experts to ensure crypto investments and client information stay protected on the platform
  • Investor-friendly fees reward traders the more they trade
  • Multiple crypto and fiat funding options with low processing time 
  • High liquidity crypto exchange that offers maximum flexibility, supporting every trader’s trading strategy 
  • 24×7 global customer support with highly qualified agents via live chat 
  • Margin trading with up to 5X leverage 
  • Personalised OTC trading from the Kraken Trade Desk

Kraken - Secure Crypto Exchange in Indonesia

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Cryptocurrencies Supported

Kraken supports over 190 tradeable cryptocurrencies, including Ethereum (ETH), Monero (XMR), Bitcoin Cash (BCH), Dash (DASH), Ripple (XRP), Litecoin (LTC), Stellar/Lumens (XLM), Augur REP tokens (REP), Ethereum Classic (ETC), ICONOMI (ICN), Zcash (ZEC), Melon (MLN), Dogecoin (DOGE), Gnosis (GNO), Tether (USDT), EOS (EOS), and more.

Kraken Exchange Fees:

Trading fees at Kraken start as low as 0% for market makers. Kraken NFT marketplace offers zero gas fees with a low 2% flat fee for all transactions made within the Kraken NFT ecosystem. For Ethereum and Solana transactions, Kraken Exchange charges a fee of 0.01 ETH tokens and 0.02 SOL tokens, respectively. Kraken Pro traders need to pay a maker and taker fee of 0.16% and 0.26%, respectively, for spot crypto trading, and the fees are reduced to 0% and 0.10%, respectively, with higher volumes of trade.

OKCoin

OKCoin is the best crypto exchange in Indonesia, with more than 20 currency pairs for advanced trading in 192 countries worldwide. Established in 2013, OKCcoin is registered as a money services business or MSB with the Financial Crimes Enforcement Network, aiming to make crypto assets easily accessible to customers around the world and comply with high regulatory standards. The user-friendly crypto exchange is suitable for beginners, professionals, and institutions, aiming to provide an efficient and reliable exchange by removing trade barriers on a global level.

 Features of OKCoin

  • Meticulously designed, intuitive, and sophisticated user interface with organized and seamless features, ensuring quick account creation. 
  • Comprehensive crypto selection, categorizing different types of crypto, including decentralized finance projects, stablecoins, and more 
  • Various trading pairs include BTC/USD, ETH/USD, LTC/USD, and many more. 
  • Access to various order types such as limit order, market order, trailing stop order, stop order, and advanced limit order. Two types of trading that are available are TWAP and Iceberg. Meticulously designed and sophisticated user interface with organized and seamless features.

OKCoin - One of the Top Crypto Exchanges in Indonesia

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Cryptocurrencies Supported

OKCoin exchange supports more than 20 crypto assets for trading, including Bitcoin Cash (BCH), Bitcoin (BTC), EOS Token (EOS), Ethereum Classic (ETC), Ethereum (ETH), Litecoin (LTC), Polkadot Coin (DOT), Tether USD (USDT), True USD (TUSD), and many more.

OKCoin Exchange Fees:

  • OKCoin charges 0.2% taker fees and 0.1% maker fees, considering all the rebates applied to maker fees. 
  • The transfer fees for individual traders are 0.1% of the amount deposited and 0% for corporate traders. This is exclusive of bank fees. 
  • For every withdrawal made in USD through wire or bank transfers, 0.10% is charged, along with a minimum fee of $15.

Bitcoin Indonesia [Indodax]

Bitcoin (BTC) Indonesia is a first-rate Bitcoin exchange that operates from and is available in Indonesia. It was launched in the year 2023. This crypto exchange in Indonesia adheres to a direct approach to bitcoin trading, and the exchange offers users the option of trading through unverified accounts to help them transact anonymously.

The site has earned a reputation for having the most registered users in Indonesia through advanced features like instant buy and non-KYC accounts.

Features of Bitcoin Indonesia

  • 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, optimize 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.

Bitcoin Indonesia - Best Platform to Buy Bitcoins in Indonesia

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Cryptocurrencies Supported

Bitcoin Indonesia or Indodax supports over 300 cryptocurrencies for trading, including Bitcoin (BTC), Tether USD (USDT), Dogecoin (DOGE), Ethereum (ETH), Ripple (XRP), Solana (SOL), Shiba Inu (SHIB), Pepe Coin (PEPE), Binance Coin (BNB), Polkadot (DOT), Chainlink (LINK), Litecoin (LTC), Tron (TRX), Avalanche (AVAX), Uniswap (UNI), and many more.

Bitcoin Indonesia Exchange Fees:

Indodax charges a 0.3% flat taker fee for instant stop orders. The maker fee is always 0%. In certain situation, the taker fees may reduce from 0.3%. The minimum spread for the standard account type is 0.3% per order.

Abra

Abra is another Indonesian cryptocurrency exchange that is available to traders in Indonesia. Launched in the year 2014, its reputation rests on its vision of bringing users a simple and honest financial system. Like many more exchanges, Abra invests much attention into transparency and accessibility.

Furthermore, the whole operation runs in a user-centered approach and has a reputation for bringing long-term value to traders’ money.

Features of Abra

  • Abra is tailored to provide wealth management and crypto financial services customized for private clients
  • Offers dedicated relationship manager, OTC trading, yield farming, borrowing, and 24×7 exchange account servicing
  • Easy access to a suite of crypto investment services, digital asset trading, custom quotes, and solutions. 
  • Non-custodial wallet with top-notch security measures using multi-sig smart contracts

Abra - All Time Favourite Crypto Exchange Indonesia

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Cryptocurrencies Supported

Abra allows traders to hold, buy, sell, and trade 200 or more cryptocurrencies including Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Stellar (XLM), Monero (XMR), Ripple (XRP), and many more.

Abra Exchange Fees:

Abra charges variable fees depending on the deposit method chosen by the users. For instance, for deposits made via AMEX Card or Visa/MasterCard, a 4% fee is charged. In contrast, deposits made via cryptocurrencies, wire transfers, bank transfers, or e-wallets are free of cost. The exchange charges are spread around 1% while selling and a 4% fee for buying crypto with credit cards.

Nicehash

Nicehash is one of the latest additions to the crypto market that is actively becoming a popular platform among crypto enthusiasts for its hash power advantages. Crypto miners can become successful by using Nicehash algorithms while solving blockchain computations for various crypto assets. It offers advanced features tailored to meet crypto traders’ different needs and trading styles, including a user-friendly interface, contract-less crypto trading, a convenient trading platform, a quick registration process, and low transactional fees. 

This Nicehash review will explore the features, pros and cons, supported cryptocurrencies, and exchange fees of the extraordinarily safe and secure Nicehash crypto exchange.

Features of Nicehash

The unique product offerings at the Nicehash crypto trading platform include – 

  • A beginner-friendly interface – Suitable for both beginners and experienced traders, the Nicehash crypto exchange is packed with easily navigable and intuitive features and functions
  • Advanced charting tools – Nicehash provides customizable indicators and advanced charting tools to help traders carry out in-depth analysis.
  • Multiple trade orders – Nicehash crypto exchange supports many order types, including stop orders, market orders, and limit orders, providing flexibility to traders while trading in cryptocurrencies. 
  • Cross-platform compatibility – The Nicehash trading platform is compatible with a wide range of devices, including desktop computers, mobile devices, and tablets, making it convenient for traders worldwide to access Nicehash on the go.
  • Secure trading – Nicehash protects users by employing encryption protocols and two-factor authentication that secures user information, accounts, and funds.

Cryptocurrencies Supported

Nicehash supports a wide range of cryptocurrencies to cater to a broader section of the crypto community. At the time of writing this Nicehash review, the supported cryptocurrencies are – 

  • Bitcoin (BTC)
  • Ethereum (ETH) 
  • Tether USD (USDT)
  • USD Coin (USDC) 
  • Dash (DASH), 
  • Chainlink (LINK) 
  • Ripple (XRP)
  • Bitcoin Cash (BCH)
  • Monero (XMR), and many more.

Nicehash Exchange Fees

Nicehash charges 0.5% taker and maker fees that constantly fall with a rising trade volume. It also charges a withdrawal fee of 0.0001 BTC and wallet fees that are subject to change depending on the wallet traders use. A small deposit fee may be charged based on the traders’ chosen payment method. Other forms of Nicehash exchange fees include service fees for buyers and sellers of hash power and easy mining fees with a pool fee of 1%.

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. The user-friendly interface and diverse payment methods make Payeer an appealing platform for traders seeking a primary payment solution. Keep reading this Payeer Review to learn about the platform’s features, pros and cons, supported cryptocurrencies, and exchange fees.

Features of Payeer

  • 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.

Cryptocurrencies Supported

Although the list of supported cryptocurrencies is limited, the assets offered for trading on Payeer are globally known with the highest market capitalization. Some of the listed cryptocurrencies on Payeer include –

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Bitcoin Cash (BCH)
  • Litecoin (LTC) 
  • Dash (DASH)
  • Tether USD (USTD)
  • Ripple (XRP)
  • Dogecoin (DOGE)
  • Tron (TRX)
  • Binance Coin (BNB)
  • Polkadot (DOT)
  • Dai (DAI)
  • Polygon (MATIC) 
  • USD Coin (USDC)

Payeer Exchange Fees

Payeer provides traders with higher limits and low fees for individual and business accounts. While the trading does not charge fees for registration or monthly services, traders need to pay a 0.5% fee for internal transfers, 0.095% for trading operations, and a fee between 0.05% and 0.95% for API. The currency conversion fees start from 0%, depending on the currency being converted by the trader. Additionally, there are variable deposit and withdrawal fees charged by Payeer based on the traders’ chosen payment method.

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, 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.

Features of Bitstamp

  • Gives access to 15 cryptocurrencies and 56 currency pairs for trading
  • Excellent user experience for traders of all experience levels, including beginners and experienced traders 
  • Supports seamless crypto to fiat and fiat to crypto conversions 
  • The most reputable and popular crypto exchange in the world and the first licensed crypto exchange in Europe, regulated by the Financial Industry Supervisory Commission in Luxembourg
  • A convenient and secure mobile app, perfectly optimized for Android and iOS devices.

Cryptocurrencies Supported

Traders on Bitstamp can get access to more than 15 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Ripple (XRP), Litecoin (LTC), and many more.

Bitstamp Exchange Fees

Bitstamp makes revenue by charging deposit, withdrawal, and trading fees from its users. For every trade executed on Bitstamp, traders pay a trading fee of 0.25%, which is reduced to 0.10% for professional traders and managers trading more than $20 million a month. For deposits made via debit cards, Bitstamps charges a $10 fixed fee for more than $10,000 deposits. This is a 2% deposit fee. Other payment methods, such as credit cards and wire transfers, also charge 5% and 0.05% transaction fees, whereas deposits made via crypto and SEPA European transfers are free of cost. The withdrawal fee for SEPA European Bank is €0.9, whereas, for wire transfers, it is 0.09% for a minimum withdrawal of €15.

How to Trade Cryptocurrency in Indonesia?

The anonymous and decentralized outlook of bitcoin trading is why world countries have conflicting perspectives on cryptocurrency. While some countries try to curb the momentum of bitcoins, others hope to regulate the market model of cryptocurrencies.

Fortunately, Indonesia is one of the few countries with a reputation for a positive outlook toward crypto transactions and a legal framework to induce its growth. This means that users in Indonesia can buy and sell bitcoins from any of the registered cryptocurrency exchanges. Even though the Central Bank of Indonesia has not declared it a standard commodity, firms and companies in Indonesia are increasingly accepting cryptocurrency as a standard mode of payment apart from bank transfers.

The Indonesian government also is one of the few countries to build a Bitcoin ATM from which users can buy Bitcoin. However, a transaction through this ATM might lose around 5 to 10% in tax.

How to Select the Best Cryptocurrency Exchange in Indonesia?

The trickiest part of crypto trading is to choose a platform that suits your needs. Users must consider several criteria before investing their money in trading. The users must look into aspects like bank currency support, accessibility, bank transfer charges, and the reputation of the Indonesia crypto exchange.

They must understand that cryptocurrency is volatile, decentralized, and anonymous, unlike the standard bank currency. Thus, an investment in it must always begin with thorough research.

Does that Crypto Exchange Support Indonesian Rupiahs?

The users must look for and choose the exchange supporting 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. This is because some crypto wallet deposits might incur a processing charge from the exchange. However, setting up a crypto wallet with the exchange would be much more secure as it involves several verification steps.

Fee Structure of Crypto Exchanges

The users must have a comprehensive understanding of the fee structure of the exchange if they are planning to buy or sell crypto coins. 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.

Moreover, the users can choose from one of the few exchange points that offer charge-free deposits, discounts, and offers for promotional reasons. However, one must be concerned about security issues in such cases.

Deposit and Withdrawal 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.

Furthermore, the deposit fees and withdrawal charges incurred would also change depending on the type of coins the users buy. While the less popular coins tend to charge more for processing the funds, the most popular ones, like Bitcoin, charge much less for processing.

Security

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. Some popular exchanges offer features like cold wallet, two-factor authentication, SMS alerts during fund transfers, customer insurance, periodic audits, and the authorization of fraudulent activity prevention bodies.

Is That Licensed?

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. So, it is advisable to have an idea about legal tenders around crypto trading and look for exchange platforms that adhere to the regulatory instructions of the supervisory board. The regulations suggested by the board provide a secure environment free from threats and balance the scale between physical and other crypto assets.

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 be 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. The cryptocurrency exchanges manage the taxes, thereby simplifying the compliance standards and procedures for the traders who need to report their cryptocurrency holdings in their tax returns every year.

Conclusion on Indonesia Crypto Exchange

The perspectives on cryptocurrency are obscure even today. Some people believe the characteristics of bitcoin trading go against the legal frameworks and, at times, their beliefs.

Nonetheless, the cryptocurrency market shows great potential to become an alternative to the extant investment options. As more people increasingly try to access bitcoin trading, countries like Indonesia are taking a step forward to regulate and make user transactions as safe and easy as possible. The exchange system is ultimately a business model that can appropriate itself per the legal tenders drawn towards cryptocurrency. Moreover, they also can act as a means to achieve a regulated market.

FAQs

Which Crypto Exchange Is Licensed in Indonesia?

Legislation has been passed to legalize crypto transactions in Indonesia. However, traders can buy and sell bitcoin only from the exchange points with all rights reserved with the Central Bank of Indonesia. Binance, Indodax, Kraken, Coinspot, Coinbase, HitBTC, Bitcoin Indonesia, Abra, Paxful, and Bitfinex are some of the most popular sites for cryptocurrency exchange.

Can You Trade Crypto in Indonesia?

Yes, anyone can trade crypto 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.

Is Crypto Legal in Indonesia?

Yes, crypto trading has been legalized by the Bank of Indonesia since September 2018. Furthermore, the Indonesian government has instituted a supervisory body to regulate the cryptocurrency market within the country to provide the users with a secure and legitimate environment for bitcoin trading.

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.

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