Best Crypto Exchange Indonesia 2022: Top 11 Crypto Exchanges!

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.

The recent craze about cryptocurrencies has given rise to new terminologies and business models. The digital exchange sites for bitcoin trading are one such aspect that acquired a reputation recently for providing an accessible way to trade. As more people are trying to buy, trade, and sell bitcoin and altcoins every day, there is a natural demand for facilitating virtual currency exchanges. Moreover, an exchange also gives people an entrance to a more secure and accessible method to buy bitcoin. These online exchange services are principally similar to an asset exchange, except they deal with crypto coins instead of stocks or forex.

Best Crypto Exchange Indonesia: Top List!

Crypto 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 tend to 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. Keep reading to learn about cryptocurrency exchange in Indonesia.

Binance

Although relatively new to the field, Binance is currently a big fish in the world of cryptocurrency trading. It holds a reputation for being increasingly preferred by the users due to its high liquidity rate and the low fees for funding when using the site’s own Binance coin. Although, to know about the platform more with genuine reviews click here.

Features of Binance

• Stalking
• Saving
• Yield Farming
• Charting Tools
• Trust Wallet
• Binance Launchpad for Entrepreneurs

Pros and Cons of Binance

Pros	Cons
User-friendly interface with data-guided tutorials.	The account verification might affect user anonymity.
24/7 active customer support available.	Demo accounts are limited only to Binance futures.
Allows payments through bank cards in selected countries.	Some of its advanced trading sites might intimidate those new to trading.
Binance research for traders with vital statistical insights.
Supports over 300 types of coins.
Lower processing charges.

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Bitfinex

Bitfinex is the most noteworthy among Indonesia crypto exchange. It intends to bring technology and trading together. It is also one of the oldest & biggest crypto exchange, operating since 2012. Bitfenix currently is among the best go-to crypto exchanges in Indonesia that offer its services to traders looking to buy bitcoins.

Features of Bitfinex

• Margin Trading
• Stalking and Lending
• Application Programming Interface
• Bitfinex Borrow

Pros and Cons of Bitfinex

Pros	Cons
Advanced trading interface.	A daunting verification process.
No restrictions on withdrawals.	Bitfinex holds a bad reputation for having been hacked a few times in the past.
Ability to switch between platforms.
Trades on derivatives.

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Paxful

Paxful is also among the popular crypto exchanges in Indonesia that operate with a peer-to-peer system. It has the reputation of being one of the earliest organizations to be built on the motto of ‘banking the unbanked’. Paxful has done so by bringing the crypto market to the 4 billion people without adequate banking or investment options.

Features of Paxful

• Free Wallet
• Secure Escrow
• 2-factor Authentication for Security
• In-person exchange facilitation

Pros and Cons of Paxful

Pros	Cons
The reputation rests on the peer-to-peer facilitation to buy, sell, and trade crypto.	The anonymous in-person exchanges are prone to be unreliable at times.
Easy fund transfers using digital money from any bank or any of the 300 other payment options listed on the site.	There is not much option when it comes to buying coins on Paxful.
A global network facilitates easy overseas trading.	Paxful ultimately focuses on bitcoin exchange that gives less scope to crypto trading, in comparison to selling and buying.
A secure site with two-factor authentication provides a safe trading environment.
Fund transfers are free of charge, except for withdrawal which costs a nominal fee.
Highly responsive customer support.

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Indodax

Indodax is one of the leading and popular crypto exchanges in Indonesia. A major part of Indonax’s reputation rests on its exclusive focus on the Indonesian Rupiahs. This site exclusively brings access to a risk-free, secure, and effective way to buy and sell digital currencies in Indonesia.

Features of Indodax

• Cold Storage
• Rebates from Traders Union
• Bonus through referrals

Pros and Cons of Indodax

Pros	Cons
Two-Factor Authentication for security.	Trading is allowed only through the Indonesian Rupiah.
Comparatively low deposit or withdrawal charges.	Not beginner-friendly as far as the interface is concerned.
Works under the supervision of the supervisory board.

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HitBTC

HitBTC operates with the promise of bringing the most advanced platform of blockchain to users. This cryptocurrency platform is located in Europe. With heightened liquidity rates and trade limits, HitBTC has become one of the fastest-growing crypto exchanges in Indonesia for trading crypto.

Features of HitBTC

• Demo Mode
• Anonymous Account
• Cold Storage

Pros and Cons of HitBTC

Pros	Cons
High liquidity rate.	No cross-platform communication.
Advanced blockchain mechanism.	Deposit and withdrawal processes are comparatively time-consuming.
Highly responsive customer support.
Allows more than 50 altcoins.
Easy, interactive, and user-friendly interface.
Reputed for focusing on user anonymity.
Strong security features.

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Coinbase

Coinbase is deemed to be one of the most secure crypto exchanges in the world currently available for users in Indonesia. Moreover, it holds the place as one of the highly regulated spots for liquid crypto exchanges. However, get more information about the exchange platform from us & explore.

Features of Coinbase

• Stalking
• Crypto insurance
• Secure storage for coins

Pros and Cons of Coinbase

Pros	Cons
As the bitcoins in Coinbase are insured, there is less risk associated with buying and selling bitcoins on this site.	Charges are comparatively higher compared to other exchanges in operation.
This site understands the risks of crypto trading and provides the best trading environment.
Allows users to open a trading account with a comparatively lower fund.
The user can access more than 100 coins through Coinbase.
Comes with a mobile app that has a highly intuitive interface.

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CoinSpot

Coinspot is an Australia-based exchange that seeks to extend its services to users in Indonesia. Despite being one of the oldest sites, Coinspot is reputed because it has never been hacked since its establishment in 2013. It also proves that Coinspot is one of the best and most secure crypto trading platforms in the world. However, find more about the platform here and explore the benefits.

Features of CoinSpot

• Two-factor authentication
• Multicoin wallet
• Crypto Insurance

Pros and Cons of CoinSpot

Pros	Cons
Prompt customer service with a good reputation.	The insurance on this site does not cover all kinds of assets.
Heightened security through two-factor authentication.	Comes with a restriction on weekly withdrawals which increases based on user activity on the site.
Coinspot Mobile App to provide higher accessibility towards crypto assets.
This site offers multiple payment options, including bank transfers.
Easy and instant processing of transactions.
An exchange that is highly organized for trading.
Insurance for crypto assets.

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Kraken

Kraken 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 in operation since 2011. However, get honest Kraken exchange reviews from our page and know the insights of the exchange in detail.

Features of Kraken

• Margin Tradings
• Stalking
• Cold Storage for almost 95% of the asset holding
• Security Tests and Bug Bounty Programs
• Crypto Wallet

Pros and Cons of Kraken

Pros	Cons
Kraken accepts around 60 coins and 7 fiat currencies.	The fundings in accounts of traders are considerably slower and have an average reputation.
The charges for currency transfer to and from bank accounts are comparatively fairer.
The information provided by the users is kept encrypted and under surveillance.

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OKCoin

OKCoin is a decentralized global trading site now available in Indonesia. OKCoin also offers a simplified interface and a friendly outlook to the users. Moreover, its reputation also rests on a variety of deposit options to make the transfers seamless and accessible.

Features of OKCoin

• Margin Trading
• Future Markets

Pros and Cons of OKCoin

Pros	Cons
The site offers one of the best available liquidity rates.	The transaction takes place only after verification, which might affect the trader’s anonymity.
The traders can also access fiat fund deposits and withdrawals.	OKCoin does not offer a wide variety of coins, naturally hindering the buying options.
The users incur only a nominal figure for the findings and transfers they make.	OKCoin does not offer any promotional schemes or bonus offers for users.

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Bitcoin Indonesia

Bitcoin (BTC) Indonesia is a first-rate bitcoin exchange that operates from and is available in Indonesia. This exchange crypto Indonesia adheres to a direct approach when it comes to bitcoin trading. It offers users the option of trading through unverified accounts to help them transact anonymously. The site has earned a reputation for having the most number of registered users in Indonesia through features like instant buy and non-KYC accounts.

Features of Bitcoin Indonesia

• Instant Buy
• Margin Trading
• Spot Market
• Temporary Wallet
• The site also has a help center to help out users with their doubts

Pros and Cons of Bitcoin Indonesia

Pros	Cons
Accepts multiple payment types like bitcoin trading and bank transfer.	A comparatively expensive fee structure.
Allows deposits through fiat currencies.	Principally operates only in Indonesia.
Users can preserve anonymity through unverified accounts.

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Abra

Abra is another Indonesia cryptocurrency exchange that is available to traders in Indonesia. Its reputation rests on its vision of bringing a simple and honest financial system to the users. Like many more exchanges, Abra too 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

• Better fiat currency options
• Abra borrow
• Multicoin Exchange Wallet

Pros and Cons of Abra

Pros	Cons
Abra offers a consolidated and easy means to access both stocks and bitcoin.	With a 4% credit card charge, the small-time traders are likely to receive a blow.
It is one of the best sites for fat currencies as it supports more than 70 of them.	There are restrictions on US citizens to access stocks and ETFs from this platform.
Abra is dedicated to providing a fast, secure trading environment free from threats.
The site itself does not charge for deposits and the spread does not exceed 1%.

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Why Do You Need Crypto Exchanges?

If you have decided to try your luck in crypto trading, an exchange site offers the best way to buy, sell, and trade crypto coins. This is because an exchange 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 interface on many of the popular exchanges helps even novice traders take part in the business.

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, a few others hope to regulate the market model of cryptocurrencies.

Fortunately, Indonesia is one of the few countries with a reputation for having 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 yet declared it as a standard commodity, the firms and companies in Indonesia are increasingly accepting cryptocurrency as a standard mode of payment apart from bank transfers.

The Indonesian government also holds the reputation for being 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 Indonesia For You?

The trickiest part of crypto trading is to choose a platform that suits your needs. There are several criteria users have to consider before investing their money in crypto trading. The users have to look into aspects like bank currency support, accessibility, 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?

Primarily, the users need to look for and choose the exchange that supports Indonesian Rupiah through bank transfer. This is because the easiest method to buy and trade Bitcoin with IDR is to use a site that supports bank transfer deposits. This is because some wallet deposits might incur a processing charge from the exchange. However, setting up a wallet with the exchange would be much more secure as it involves several steps of verification.

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 and 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 tend to 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 they offer, such as deposit, withdrawal, and trading. Quite a few of these exchanges tend to not charge the users for any deposits they make, to invite more funds from them. Some of them still charge for such services. However, they make up for it through other features such as safety and trading.

Furthermore, the deposit 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 of the popular exchanges offer various features like cold wallet, two-factor authentication, SMS alerts during fund transfers, customer insurance, periodical audits, and the authorization of fraudulent activities 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 crypto and physical assets.

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 for 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 a user transaction as safe and easy as possible. The exchange system is ultimately a business model that can appropriate itself as 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 that have 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 about 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.