Best Bitcoin Exchange with CoFTRA License Bes Bitcoin Exchange with CoFTRA License, When it comes to investment products, the most well-known include gold, real estate, deposits, and more contemporary instruments such as stocks and bonds.

But did you know these instruments are considered vintage? Yes, there is a new asset that is gaining popularity, and that is bitcoin. This scenario causes an increase in the number of locations where the top Indonesian bitcoin exchanges can be found.

Before we go into some of the finest Indonesian bitcoin exchanges, let’s define bitcoin. According to the BBC, bitcoin is a cryptocurrency, also known as a virtual currency, digital currency, or crypto currency.

Best Bitcoin Exchange with CoFTRA License

As a cryptocurrency, bitcoin plainly lacks the tangible form of cash that Rupiah has. Bitcoin can only be used in virtual exchanges of goods or services since it is a digital money.

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Satoshi Nakamoto originally released Bitcoin on the internet in 2009. Bitcoin’s value has fluctuated dramatically over its history.

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However, no one knows who owns Nakamoto’s true identity as of yet. In Indonesia, bitcoin is legal to own but unlawful to use as a form of payment.

Understanding the Basics of Bitcoin Investing

Instead of a bank account, these bitcoins are held in an e-wallet file format on a computer. Because demand is growing, there are currently numerous third-party providers of e-wallets.

CoFTRA, an organization that supervises commodities futures trading, has officially permitted the trade of crypto assets such as bitcoin.

As a result, the finest Indonesian bitcoin exchange sites that allow anybody to purchase and sell cryptocurrencies have emerged. Of course, the selection of a lawful exchange location by CoFTRA calms potential investors.

Is this bitcoin exchange platform the same as a stock broker acting as a middleman for capital market investors? Absolutely not!

Because you, as an investor, may exchange and transfer crypto assets with other investors. Do you want to try? Let’s get to know the top five Indonesian bitcoin exchange platforms right now!

1. My Profile

My Account is the first and greatest Indonesian Bitcoin exchange platform. My Account is owned by PT Accountku and is available in a mobile application version that can be downloaded from the PlayStore and website.

Indonesian Dotcom. This platform was formally registered with CoFTRA on March 30, 2020 via Announcement 006/BAPPEBTI/CP-AK/03/2020.

2. Indodax

This is the country’s first crypto asset marketplace (marketplace), putting it at the top of the finest Indonesian bitcoin exchange platform.

This platform is owned by PT. Indodax Nasional Indonesia and is registered with CoFTRA under the number 331/BAPPEBTI.4.PENG/02/202. Indodax now has around two million official members.

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It is quite simple to enroll as a possible bitcoin investor in Indodax, which can be accessible via the website and mobile application. You must be an Indonesian citizen over the age of 18, provide your name, email, username, password, cellphone number, and verify with a photo and selfie while holding an ID card.

Here are some significant aspects of Indodax to consider:

  • A minimum deposit of IDR 500 thousand is required, which may be deposited by bank transfer, OVO/Gopay/ShoppePay e-wallet, or minimarket payments.
  • Indodax trades 110 crypto asset tokens in addition to bitcoin and Ethereum (ETH)
  • When purchasing and selling crypto assets, the service charge is 0.3% (when taker) in Rupiah.
  • The cost for withdrawing bitcoin deposits to a Rupiah account is IDR 25 thousand or 0.5% of the withdrawal amount, whichever is greater.
  • There are chart analysis capabilities, as well as stop loss and cut-loss levels, to help investors control their risk profile. When the market is down, however, there is no short-selling feature.

3. Luno

Luno, who is from the United Kingdom and has been in Indonesia since 2014, which is operated by PT Luno Indonesia Ltd, has been named one of the top Indonesian Bitcoin exchanges.

Luno is officially registered with CoFTRA as a lawful exchange via Announcement 007/BAPPEBTI/CP-AK/03/2020 on March 31, 2020. Interested in participating? Here are some of Luno’s highlights:

Luno requires a minimum deposit of IDR 50 thousand, which may be made by bank account transfer or transfer to a BNI virtual account.

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Potential investors are prompted to validate their cell phone number and personal information throughout the registration process.

Then, within 24 hours, you must transmit a photo/scan of an official identity card and a selfie shot, as well as fill out your residence address, employment details, and source of finances. On Luno, there are five crypto asset coins.

Some of the trading capabilities provided by Luno include chart analysis to anticipate prices technically, as well as an orderbook and transaction history. There is also a stop loss and cut-loss function to help investors control the risk of price swings.

Author: Irdansyah
I'm a regular contributor to IRDANSYAH commander, and in my business blog, my team and I share tales on the experience of starting a business from zero, how it feels to build a startup, and how to scale-up.