Bitcoin Indonesia is an exchange to buy and sell the digital asset. Started in May , this company deals in the trading pair of crypto-flat currency. The organization deals in Bitcoin wallet in Indonesia only. Bitcoin Indonesia also became the first professional Bitcoin . Regulators in Indonesia have finally recognized Bitcoin and other cryptocurrencies as commodities, thus providing legal backing for trading virtual currencies. Consequently, cryptocurrency exchanges in the country now have a set of requirements that must be satisfied before being allowed to operate. Requirements for Bitcoin Exchanges in Indonesia. Indonesia is a popular place for people to buy bitcoin. Here are the 18 best exchanges in Indonesia to buy bitcoin. Need a reliable bitcoin wallet? Have a look at our wallets page.
Indonesia bitcoin trading18 Exchanges To Buy Bitcoin In Indonesia ()
Regulators in Indonesia have finally recognized Bitcoin and other cryptocurrencies as commodities, thus providing legal backing for trading virtual currencies. Consequently, cryptocurrency exchanges in the country now have a set of requirements that must be satisfied before being allowed to operate.
Based on the new ruling, virtual currency trading is now legalized in the country. As part of the new set of laws, Bitcoin exchanges must employ the services of IT security experts and keep records of their transactions for a minimum of five years. Also, one of their servers must be domiciled in the country and they must have clearly defined organizational structures with departments like legal, audit, client support, IT, etc. Speaking to Hukumonline , Bappebti chief, Indrasari Wisnu Wardhana, highlighted the need for these regulations saying :.
These regulations form part of a larger set of rules for cryptocurrency commodity trading both in the spot and futures trading market. On Thursday, February 14, , Bitcoinist reported that traders in the country were protesting the excessive paid-up capital restrictions imposed on cryptocurrency futures trading. While these new laws provide legal certainty for cryptocurrency exchanges, such services have been operational in the country since as early as Despite the formal recognition given to virtual currencies as commodities, the ban on cryptocurrency payment is still in effect.
For Widjanarko, the decision by Bappebti does not negate its ruling against cryptocurrencies as its mandate is the protection of rupiah sovereignty and monopoly within the country. BI still prohibits bitcoin or crypto as a means of payment. Commodities regulation is not an area of concern for the BI.
What do you think about the new regulations for cryptocurrency exchanges in Indonesia? Let us know your thoughts in the comments below. We may receive compensation when you use Luno. Please visit Luno for its exact pricing terms. Coinmama allows customers in almost every country to buy bitcoin.
They charge a 4. Want to buy using Coinmama? This step-by-step guide will show you how to use Coinmama. We may receive compensation when you use Coinmama. Please visit Coinmama for its exact pricing terms. It supports Bitcoin, Ethereum, Litecoin, Zcash and many other coins. It also offers unique features like copy trading.
We may receive compensation when you use eToro. Please visit eToro for its exact pricing terms. Founded mid, Kraken is the one of the world's largest cryptocurrency exchanges, and the largest in Europe based on daily average trading volume. It is available in almost all countries.
LocalBitcoins is an escrow service which also helps to match bitcoin buyers and sellers. Users may advertise trades for whichever payment method they prefer. Buying bitcoins via an in-person meeting, secured and facilitated by LocalBitcoins, may be one of the fastest and most private ways to buy bitcoins in any country, including the United States , Europe besides Germany , UK , Singapore, Canada , Australia and many more. We may receive compensation when you use LocalBitcoins.
Please visit LocalBitcoins for its exact pricing terms. You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they're also private. However, recent data suggests that Bitcoin trading volumes on peer-to-peer exchange LocalBitcoins has increased big time, which means that people are still interested in the digital currency.
If you are in Indonesia and want to buy Bitcoin, refer to our handy guide on Bitcoin exchanges in Indonesia. There are quite a few options that you can tap to buy Bitcoins in the country, though you need to see which one fits your need the best depending on transaction fees, verification requirements, withdrawal limits, payment options, and security.
However, some exchanges might require you to get a wallet before you can buy Bitcoin for storing the cryptocurrency. Some people also get a wallet on their own for security reasons. Once you have a wallet, you can start buying Bitcoin from an exchange of your choice and store the tokens in the wallet. So Bitcoin holders in Indonesia either use the currency as a means of investment or for making payments internationally. The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use.
Atomic wallet is a multicurrency mobile wallet with a beautiful interface and easy to use features. Electrum is a Bitcoin-only wallet that has been around since It's easy to use, but has advanced features. There have been no exchange hacks in Indonesia's history with cryptocurrency. That is most likely because Indonesia is so quick to shut anyone down who is attempting to sell cryptocurrencies or faciliate their trade. If exchanges aren't allowed, there are no exchanges for anyone to hack.