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Bitcoin Trade and Purchases in Indonesia Happening Despite Restrictions

Asia Blockchain Review
June 25, 2019

Bank of Indonesia (BI), the country’s central bank, has long maintained a cautious approach towards Bitcoin (BTC), but this has not stopped people in the country from exchanging and buying cryptocurrencies on a regular basis.

As reported by Coin News Asia, BI imposed restrictions on Bitcoin as an installment method and currently has no intentions of lifting the boycott, despite guidelines which have granted authenticity to cryptographic currencies. Nevertheless, the quality of Bitcoin clients in Indonesia has been on the rise, with an increasing number of individuals expressing interest in learning more about Bitcoin and blockchain technology.

Those looking to purchase BTC in Indonesia have several exchanges from which to choose.

Luno Offers Clients a Unique Expense Structure

With free stores and low withdrawal charges, Luno offers clients the only expense structure of its kind where market creators are compensated with a 0.2% reward on each exchange, while takers are charged a further 0.2%. Such a structure effectively boosts merchants to carry their requests to this exchange.

Bitcoin.co.id is Indonesia’s Biggest Crypto Trade

As Indonesia’s largest crypto trade, Bitcoin.co.id allows locals to buy BTC with money in Jakarta or Ubud, or exchange the cash online through banking suppliers, including Doku, EasyPay, or Alfa Network.

Coinmama Lets Clients Purchase BTC Anywhere

Coinmama lets clients to buy BTC in Indonesia and just about every other nation. Buyers can use their credit to purchase BTC and various cryptocurrencies, but there is a 6% charge on each buy.

Although Indonesia has started perceiving Bitcoin as an item to be exchanged, the prohibition on digital currency installments remains in place, similar to Vietnam.

Source: coinnewsasia.com


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