Bitcoin Buying and Selling Sites are Most Popular in Indonesia

Is that a Bitcoin Exchange?

The Bitcoin Exchange is a digital market where traders can buy and sell Bitcoin, either using Fiat or Altcoins. The Bitcoin Exchange can also provide an online platform that acts as an intermediary for Bitcoin buyers and sellers virtually. That is why, exchanges that provide services to buy and sell Bitcoin online, can also be referred to as Bitcoin buying and selling sites.

The Bitcoin exchange platform will match orders made by buyers with orders from sellers. When a market order is selected, the trader authorizes the exchange to trade the coin (BTC) at the best available price. Traders can also choose Limit Orders, so that Bitcoin can be traded at prices below or above the current bid.

All Bitcoin exchanges have transaction fees applied to every purchase and sale. The fees set usually range from 0 to 1%, depending on the policy of each exchange.

Popular Bitcoin Buying and Selling Sites

Many traders and investors in Indonesia are still hesitant with the various Bitcoin exchanges. In addition to being very new when compared to stock exchanges and commodities that have long existed, the Bitcoin exchange is prone to experience scam or fraud. Therefore, on this topic of discussion, we will review some of the popular and most trusted Bitcoin exchanges, which are widely used by Indonesian traders.

For the record, the majority of large-scale Bitcoin buying and selling sites do provide a separate platform, but there are also some trading sites for Bitcoin owned by individuals (ayoungchanger.com or Marketplace like localbitcoins.com) and do not provide trading platforms for their clients.

1 Indodax

Indodax (formerly called Bitcoin.co.id), is the most popular Bitcoin trading site in Indonesia. When this article was written, the total number of Indodax Members has reached more than 1.2 million people. Founded in 2013 by Oscar Darmawan, Bitcoin.co.id was initially devoted to accommodating the aspirations of Bitcoin lovers throughout Indonesia. Then, the buying and selling site for Bitcoin evolved into the Indodax crypto market, with various kinds of Altcoins and new tokens that can be traded there.

Especially for Bitcoin transactions, Indodax serves exchange of Bitcoin with local rupiah (BTC / IDR), or with various Altcoins such as Ethereum (BTC / ETH), Bitcoin Cash (BTC / BCH), and so on. Indodax offers a system of buying and selling that is easy, fast, and safe.

Indodax advantages

Instant deposit and withdrawal process only takes a matter of hours (maximum 24 hours).
Having low transaction costs, namely 0.3% for takers, and 0% for makers.
Providing various Altcoins trading facilities such as ETH, XRP, DOGE, LTC, and most recently ADA and TEN (Tokeneconomy) tokens.
Indodax is included in the 10 online Bitcoin markets that are most commonly used throughout the world, especially in Asia.
Integrated with dozens of Bitcoin services in the world such as Bitcoin Ticker, Checker, and Average.
Have a financial audit team that works 24/7 non-stop, in order to provide maximum supervision to each member.
All transactions can still be processed even on holidays.
KYC (Know Your Customer) is applied, so there will be no abuse of the platform by members.
2-way authentication either with a combination of email, SMS, or Google Authenticator, which can guarantee additional security for the account.
Customer Service who is ready to serve and resolve each client's complaints 24/7non stop

2 Luno

Initially, Luno was known as BitX which was founded in 2013. Luno was actually based in London, but could also offer the purchase and sale of Bitcoin in Indonesia through a local bank. Luno is a global trading site for Bitcoin, so that wherever you are, you can still use the Bitcoin Wallet provided by Luno. Currently, Luno only provides 2 crypto currencies, namely Bitcoin (BTC) and Ethereum (ETH). Both are paired with local Fiat currencies from each country that is supported.

Luno excellence

High credibility. Since 2013, Luno has processed transactions worth hundreds of millions of Dollars and is used by Members from 40 countries.
A team of experts who have worked in various technology companies like Google, Morgan Stanley, Amazon, Barclays, etc.
Guaranteed security. Starting from KYC verification to 2-factor authentication, it guarantees a secure customer account.
Low transaction fees. For takers, the cost per transaction charged is only about 0.20% - 0.25% only. While for the maker is not charged.
Instant deposit transactions and withdrawals in a matter of hours.

3 Triv.co.id

Triv is indeed a Bitcoin trading site that is still relatively new in Indonesia; newly established in 2015 ago.
Triv is a place to buy and sell Bitcoin, Ethereum, and various other digital currencies (Payza, Paypal, Skrill, etc.).

Triv Advantages

Real Time Deposit / Withdraw. That is, all deposit and withdrawal transactions can be processed in just a few minutes, because the triv financial team is online 24/7.
Supporting more than 100 banks in Indonesia, whether to deposit or withdraw.
Conversion to digital currency and vice versa. That is, you can sell Bitcoin to be exchanged directly into digital currencies (e-currency) such as Perfect Money, OK Pay, Skrill, Payza, Neteller, and Paypal. Conversely, you are also allowed to buy Bitcoin using the digital currency.
24/7 non-stop customer service. In addition, there is a web-based chat feature on the Triv site, so customers can easily contact CS.
Besides serving Bitcoin transactions to digital currency and vice versa, Triv also serves the purchase of pulses, electricity tokens, and other billing payments with Bitcoin.

4 Localbitcoins.com

Localbitcoins is a Marketplace that can be used by individuals or organizations around the world. This site will bring together sellers and buyers based on the nearest location; the detection is done through an IP Address. For example, if you want to buy bitcoin and use the IP Address of an Internet Provider in Bandung, the Bitcoin seller will appear closest to your location on the main page. Usually, the payment model used is local bank transfer.

Localbitcoins advantages

Allows COD (Cash On Delivery) if the location of the seller and buyer of Bitcoin is close together.
Fees charged for each transaction are quite cheap, only around 0.3% - 0.5%.
Both sellers and buyers are allowed to bargain with each other to get the agreed price.

5 XP Sindonesia

XP Sindonesia (xp.sindonesia.net) is a buying and selling site for Bitcoin and some Altcoins that are quite widely used in Indonesia. Payment options can be via bank transfer, credit, and various digital currencies such as Perfect Money and OK Pay. Founded in 2014, the XP Sindonesia business began with the sale and purchase of All Operator credit. Along with the increasing adoption of crypto currencies, XP Sindonesia finally decided to give the option to buy and sell Bitcoin and some Altcoins to its customers.
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