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


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

    Related Article
    Defending Truth with Blockchain – Eliminating Fake News
    The business of journalism is under attack and Blockchain can help regain trust between the publishe...

    August 10, 2020

    Mainstreaming Of Cryptocurrency Investments? An Exploration
    While the security and the regulation is well chronicled. The big question that needs to be answered...

    August 10, 2020

    The 5G Pandora Box: An Ultimate Kingmaker
    Unlike WWII which had sheer military might as its focal point, digital technologies such as 5G would...

    August 9, 2020

    Cyber Attacks In India Surge In Post Border Face Off
    The clashes between Indian and Chinese troops at Galwan valley that took the lives of soldiers from ...

    August 8, 2020

    We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us