Bitcoin exchange in Indonesia
I recently traveled to Bali in Indonesia. Bali is famous for its great beaches with white sand and is a paradise for surfers. It has green rice terraces (especially near Ubud) and is a major spot of Hindu culture hosting beautiful temples.
One major discovery I made during my visit was a little shop that offers Bitcoin exchange. You can buy and sell Bitcoin with the local currency. Many people (including expats) seem to use this service actively. I had a nice conversation with the staff that works for this Indonesian startup. They believe in the future of cryptocurrencies.
Do you have Bitcoin exchange offices or ATM in your hometown or country? Do you think there is real demand for selling/buying Bitcoins via a physical exchange or ATM?
Sure.. Why not?
Could you share which indonesian bank provides this service or can we just use any ATM machines there to draw cash from Bitton wallet?
It is a Startup that offers this service: https://www.bitcoin.co.id/
They are headquartered in Seminyak and have offices in Jakarta and Ubud. It is an office like a foreign currency exchange office. You can give the employee Indonesian Rupiah. You receice then Bitcoins sent to your Wallet. It is also possible to buy Rupiah in exchange of Bitcoins. The transaction is quick. A KYC check is performed any you have to sign the terms and conditions. There is no ATM (at least in Ubud).
Why not, some people are not computer savvy, or do not like to do monetary transactions on line. For them these shops would be a great transitional move for them.
Many thanks for your comment @kyusho!