How to Buy Bitcoin Indonesia – Beginner’s Guide

Getting into the process of buying Bitcoin in Indonesia is surprisingly simple. There are many crypto exchanges that offer simple and fast sign-ups, competitive fees, and mobile applications.

In this guide, we’ll explore the best platforms to buy Bitcoin in Indonesia and explain how to buy Bitcoin in Indonesia today.

Cryptoassets are a highly volatile unregulated investment product.

Where to Buy Bitcoin in Indonesia

Indonesia has many cryptocurrency exchanges where users can buy Bitcoin (BTC). When choosing the best provider, Bitcoin traders and investors should look at the fees charged by the exchange and the minimum deposit needed to start.

However, there are also other important metrics to look out for, such as the trading tools, the wallet safety, the regulation, and the accepted payment methods offered by each exchange. In the section below, we will be going over where users can buy Bitcoin in Indonesia today in the best possible way and as quickly and safely as possible.

1. Crypto.com – Best Overall Exchange for Bitcoin investors in Indonesia

Crypto.com is by far one of the best places to buy Bitcoin (BTC) in Indonesia, especially for those interested in doing a bit more than just keeping their Bitcoins idle in their wallets. This is due to the fact that Crypto.com lets users buy Bitcoin at low fees and even lets them earn passive income across all of their digital currencies. For Bitcoin specifically, Crypto.com offers an APY of 6%.

Furthermore, Crypto.com even supports interest-earning accounts for many cryptocurrencies, and this is also the case for stablecoins. Users are even given the option to lock their assets or set a flexible account, which brings even more utility to their Bitcoin (BTC) balance.

Crypto.com works best for those that want to buy Bitcoin while on their feet, and not stuck at home in front of a desktop computer. This is made a possibility due to the native mobile application.

It is well-optimized and will run on just about any device, both those running Android from the Google Play Store and those that run iOS from the App Store.

The platform even features a web-based exchange, which gives users the additional functionality of supporting margin trading.

When it comes to the payment methods available, it’s possible to use Visa, Mastercard, or e-wallets to make payments. There is a fee of 2.99%; however, this is a fee that can be reduced to just 0.40% if users exchange another cryptocurrency for Bitcoin.

Cryptoassets are a highly volatile unregulated investment product.

2. Capital.com – Solid Exchange for Those That Want To Trade More than Crypto

Capital.com is another best trading platform in Indonesia and cryptocurrency exchange that has made a name for itself due to the fact that it has strong educational content and a web platform that is suitable for both beginners as well as experienced traders. Alongside all of that, there are a lot of research-based articles that cover a variety of different topics, and it has a good variety of video content that is specifically tailored toward market analysis. It has a dedicated investment educational app design that makes learning about cryptocurrencies a breeze and offers over 400 cryptocurrency CFDs.

A crypto CFD (contract for difference) is a financial derivative that serves the role of a contract that a trader makes with the platform. The trader does not own the cryptocurrency, but can speculate on its value.

Here, users can get access to Forex trading, and CFD trading, alongside cryptocurrency trading.

Capital.com also features a solid application that works flawlessly on both iOS as well as Android devices. Capital.com does not charge any non-trading fees. In fact, the only type of fee that users typically pay is the overnight fee, and the minimum deposit is just $20. Users can make deposits through a credit card, debit card, bank transfer, electronic transfer, and wire transfer. Note that withdrawals will typically take around two days to fully process, regardless of what method users decide to use, but it is still nice to see so many options available.

Cryptoassets are a highly volatile unregulated investment product.

3. Coinbase – Exceptional Mobile Application and Pro Version

Coinbase is yet another solid option when it comes to trading cryptocurrencies. It is a U.S.-based cryptocurrency exchange that operates on a global scale and has a diverse portfolio when it comes to crypto-related products. In fact, there are Visa cards, savings accounts, and a lot more.

Users can even get access to a non-custodial digital wallet through which they can store their Bitcoin (BTC) cryptocurrency and also have control over their private keys. The platform has a lot of beginner-friendly ways through which users can buy Bitcoin.

Users can connect a variety of different payment methods as a means of accessing it, such as credit cards, debit cards, bank accounts, and so on. Note that card deposits have a fee of 3.99%.

Coinbase also gives users access to a wide selection of cryptocurrencies, where users can pick over 150, which makes it an appealing option to those who want to diversify as well.

Cryptoassets are a highly volatile unregulated investment product.

4. Binance – A Low-Cost Bitcoin Trading Exchange for Traders in Indonesia

Binance is one of the largest cryptocurrency exchange platforms on a global scale and one that operates in over 100 countries. Binance has a daily trading volume of $3.54 billion as of June 10, 2022.

This is a cryptocurrency exchange service provider that might be best suited to those who are looking for an exchange that has some of the lowest fees in the crypto sphere. In fact, the platform follows a maker-taker structure when it comes to the fees, where the most users will end up paying to trade Bitcoin is just 0.10%.

Furthermore, anyone can buy the native cryptocurrency token of the exchange, known as the BNB cryptocurrency, where they can hold it in their Binance account just to receive a further reduction of the fees. If users are interested in buying Bitcoin (BTC) in Indonesia, Binance will accept credit cards and debit card payments. However, this has an average fee of 2% associated with it.

Alongside all of those features, users will find that finance also has an offering of a peer-to-peer (P2P) marketplace, where users can buy Bitcoin (BTC) from other sellers on the platform directly. This is a highly preferred exchange by investors and traders that want a variety of different cryptocurrencies, as over 500 tokens are listed here.

Cryptoassets are a highly volatile unregulated investment product.

5. Indodax – An Exchange with Competitive Fees

Indodax is a cryptocurrency exchange that was originally known as Bitcoin Indonesia at one point in time before rebranding itself on March 14, 2018. It is a cryptocurrency exchange that is based in Indonesia and has been active since 2014.

This cryptocurrency exchange is optimized for smartphones. When it comes to the fees, Indodax has on offer trading fees for cryptocurrencies at 0%. Looking at the trading between cryptocurrencies and FIAT currencies, however, there is a 0.30% fee for takers but a 0% fee for makers.

There is a withdrawal fee of 0.0005 BTC whenever users make a withdrawal of the Bitcoin (BTC) cryptocurrency. In terms of the deposit methods, users can use wire transfer. The exchange accepts deposits of FIAT currencies as well.

6. Paxful – Provides Access to the Most Payment Methods

Paxful is a Peer-to-Peer (P2P) cryptocurrency trading platform that was created as a means of connecting buyers with sellers. Here is how users can look at it. Traditionally, users would need to buy Bitcoin in Indonesia directly from a provider. Well, through the usage of Paxful, users would essentially be buying the cryptocurrency from other people instead.

To ensure that the exchange has a high level of security and transparency, Paxful ensures that the funds from the seller remain in escrow until the point in time when the transaction finalizes. There are over 350 payment methods available here, which is why this might be an appealing option for a lot of people. users have bank transfers, credit or debit cards, and e-wallets; name it, and it’s there.

In terms of the fee, there is a service fee of 1% per trade. However, this is only a fee that gets paid by the seller, as buyers can trade free of charge. There is a withdrawal fee of 0.0005 BTC for any withdrawals of BTC.

7. Zipmex – A Popular Trading Platform for Indonesian Investors

Zipmex is essentially a Bitcoin trading platform based in Singapore. However, it also accepts clients from Indonesia.

It was originally founded in 2018, making it one of the newer platforms on this list, however, offers a variety of different cryptocurrencies, as well as a plethora of different tools on offer.

There are mobile applications available for Android as well as iOS, making it a lot easier to use when on the move, and it even has its own native cryptocurrency token known as ZMT, that’s utilized in features such as ZipUp+, ZipLaunch, and ZipLock. ZMT is an ERC-20 token that runs on top of Ethereum.

Furthermore, there are also charting, drawing tools, and even technical indicators that can be implemented, and users can even set up custom orders. Additionally, Zipmex has numerous altcoins on offer aside from just Bitcoin, which can be exceptional for those who want to diversify.

Buying Bitcoin in Indonesia – Fee Comparison Table

Let’s take a look at a fee comparison table of all the Bitcoin brokers in Indonesia that featured in this article.

Cryptoassets are a highly volatile unregulated investment product.

Should I Buy Bitcoin?

By this point in time, users have a higher perspective as well as a higher level of understanding when it comes to all of the numerous Bitcoin exchanges that they can buy BTC from. The next step that users need to do is figure out exactly why they might want to add the Bitcoin (BTC) cryptocurrency to their portfolio as cryptocurrency traders and investors. Here, we are going to cover some of the benefits that investors get from Bitcoin.

Ultimately, the decision about whether to buy Bitcoin or not is dependent on numerous factors, including the long-term outlook that users have on crypto, an individual’s financial situation, and how much risk someone is willing to take on with their investments.

For those who have a genuine level of belief that Bitcoin as a cryptocurrency has long-term potential, it may be advantageous to buy Bitcoin when the price of the coin is down. They can hold their Bitcoin cryptocurrency balance for numerous years, and cash out at the point in time when the value of the cryptocurrency ends up climbing back up to get a profit out of it.

Additionally, users can also trade Bitcoin in Indonesia through the utilization of numerous different strategies, such as trading, swing trading, and dollar-cost averaging, as well as gambling and betting games via the best Bitcoin casinos in Indonesia to name a few. These approaches do, however, require a bit of know-how when it comes to the cryptocurrency markets and how they work. If users want to truly be exceptional Bitcoin traders, they will need to be able to conduct technical analysis of the market, which can be crucial when it comes to making decisions.

However, no matter what a user’s ambitions are when it comes to the Bitcoin (BTC) cryptocurrency, it is important to always keep in mind that the cryptocurrency is highly volatile and, as such, has a high level of risk associated with it. This is why it is recommended that users know how much risk they are willing to and can afford to take prior to investing in the cryptocurrency.

Benefits of Buying Bitcoin

If users are still at a point in time where users are still not quite sure that buying Bitcoin is the right option for users specific investment goals, in this case, we will be going over some points that should give users a heightened perspective in regards to making this decision.

Store of Value

One of the main benefits that people take into consideration at a point in time when they want to buy Bitcoin is the fact that they view it as a store of value. What this means is that throughout the course of time, Bitcoin has the potential to increase its price indefinitely. This is due to the fact that Bitcoin has a fixed token supply of 21 million, and this cannot be manipulated. The supply of Bitcoin is based on code that is integrated within the blockchain. Every time a new Bitcoin block gets validated, which occurs throughout the span of 10 minutes, new tokens get automatically added to the overall supply.

First-Mover

Bitcoin was originally launched in 2009 and is the world’s first cryptocurrency to truly become valuable and, as such, has reshaped the perspective people have over cryptocurrencies. Due to the fact that it was the first mover in this market, it has grown and built its own infrastructure and services that support it. Ever since it was released, Bitcoin as a cryptocurrency has managed to maintain the number 1 spot in terms of market capitalization. It is also the most developed as well as the longest-active cryptocurrency and blockchain that is recognized on a global scale.

Real-World Adoption

Throughout the past few years, Bitcoin has seen an exponential level of adoption. In fact, El Salvador became the first country to implement Bitcoin as legal tender, and users can use Bitcoin to make travel bookings, international payments, and even buy some of their favourite products due to the fact that numerous stores and services now accept it as a payment method. Platforms such as Crypto.com even offer Visa cards that will let users spend Bitcoin by converting it into FIAT currency in real-time.

High Liquidity

Due to the fact that Bitcoin (BTC) is one of the oldest cryptocurrencies within the crypto sphere, it has a broad investor basis, which means that it also has the highest liquidity within the crypto space.

Users will not run into any issues when it comes to selling their Bitcoin balance in Indonesia or any other part of the world, and they will find it extremely easy to actually trade Bitcoin for other digital assets due to the fact that most exchanges support many crypto-to-BTC trading pairs that users can utilize. For those who want to HOLD their cryptocurrency balance, it’s also possible to deposit the tokens within an interest-earning account and get passive income through it, something that is on offer at Crypto.com.

Decentralization

Bitcoin is one of the few cryptocurrencies that is truly and authentically decentralized. Due to the fact that it has been available for many years, there is not any specific, centralized authority that is tied to Bitcoin or has control over it. This means that Bitcoin offers the highest level of privacy, and due to the fact that it is decentralized, it can also be utilized as a hedge against inflation in the eyes of many people.

Ways of Buying Bitcoin

If users are curious about buying Bitcoin in Indonesia, then they need to take into consideration what payment methods are available at an exchange. Most platforms will allow users to connect their bank accounts directly. However, we will be going over the more available and convenient options here.

Buy Bitcoin with PayPal

PayPal is one of the largest global payment providers that has enabled users with the opportunity to make cryptocurrency purchases. What this means is that they can now easily purchase Bitcoin as well as a variety of different cryptocurrencies through the usage of their PayPal accounts.

Keep in mind, however, that buying Bitcoin through this specific method could have high fees, especially when compared to the alternatives we discussed here. PayPal does not let users withdraw Bitcoin cryptocurrencies within a private wallet, either. But they can buy Bitcoin with PayPal at a regulated cryptocurrency exchange, often without many fees. Users can combine the convenience found at PayPal with the security that is provided by a regulated broker.

Buy Bitcoin with a Credit Card or Debit Card

Another way through which users can buy Bitcoin is through a credit card or a debit card, which is by far one of the most convenient and popular ways to do so, as almost everyone has these as an option.

Due to this, there has been an ever-increasing number of brokerages as well as exchanges that are starting to support this as a payment method. However, this is typically one of the most expensive options as well, due to the fact that it is the most charged deposit method in terms of the fee. If users make a deposit with another cryptocurrency, users would typically be charged a lot less, so keep this in mind.

Bitcoin Price

Cryptocurrencies such as Bitcoin have a reputation due to the fact that they are volatile. Back in 2009, when the cryptocurrency began, it wasn’t worth much and only reached the $1,000 price point in 2017.

The all-time high of the BTC cryptocurrency was on November 10, 2021, when the token reached a value of $69,044.77.

However, throughout 2022, we saw a bearish run for a lot of cryptocurrencies, which dipped in terms of value.

Bitcoin hit its lowest point at around $20,000 in June of 2022, but this is not the all-time low point of value for the coin. However, cryptocurrency has recently started increasing in value. For investors that genuinely believe Bitcoin has a bright future ahead of it, this could present a solid opportunity to enter the BTC market in Indonesia at a low price point.

Bitcoin Price Prediction

If there’s one thing that every investor needs to be aware of in regards to the Bitcoin cryptocurrency is the fact that it is an unpredictable, volatile currency. It has experienced wild price swings historically and is carrying on when it comes to changing its value from minute to minute, either spiking up in value or dipping back down.

There are numerous price forecasts commentators that are claiming. Bitcoin has not yet achieved its highest potential; there are others that argue that the cryptocurrency might not recover.

Depending on which analyst one asks, Bitcoin could hit $100,000 in the next couple months – a massive recovery – or it could drop below $10,000. It’s impossible to know which analysts are correct, so investors need to do their own research.

How to Buy Bitcoin Safely

If users want to buy Bitcoin in Indonesia safely, there are a few things that they need to understand first.

It is important never to invest in Bitcoin in Indonesia more than one is willing to and can afford to actually lose. This is due to the fact that there is no guarantee that anyone will profit from any investment. Consider being conservative initially with their stake.

Furthermore, it is also recommended that users always buy from a legitimate source. Always use a regulated platform that has a solid community and a well-established reputation.

Additionally, it is also a good idea to keep any Bitcoins that users want to HODL for a long period of time in an offline, cold storage device for the highest level of security.

How to Buy Bitcoin in Indonesia – Tutorial

If users are looking to buy the Bitcoin (BTC) cryptocurrency in Indonesia for the first time, we will be going over everything they need to do to use Crypto.com.

Step 1: Open a Crypto.com Crypto Account

Head over to the web-based version of the Crypto.com exchange in order to create an account.

Here, users will need to enter some basic information, such as their first name, last name, date of birth, email, password, and nationality, and agree to the terms of use.

Step 2: Upload ID

Users will then need to verify their identity, and so so by completing the Know-Your-Customer (KYC) procedure. Here, it is necessary to upload a government-issued ID.

Step 3: Deposit Funds

Tap on “Transfer,” then “Deposit” and select “Fiat” as the deposit method. Users can select any of the available currency options, such as United States Dollars, Euro, Australian Dollars, or British Pounds.

Step 4: Search for Bitcoin

Tap on “Buy Crypto” from the top of the screen, then search for Bitcoin or BTC.

Step 5: Buy Bitcoin

Select the amount of Bitcoin to buy, then complete the purchase. Bitcoin will be deposited instantly to a user’s Crypto.com account.

How to Sell Bitcoin

After users complete a purchase, Bitcoin will be added to their Crypto.com portfolio. Users will be able to sell Bitcoin afterward at any point in time by tapping on “Trade,” then on “Sell,” and selecting the cryptocurrency they would like to convert to FIAT. Then, select the “Fiat Wallet” option. Here, select a bank account and confirm the withdrawal.

Conclusion

Now users have a heightened level of understanding of how to buy BTC in Indonesia. Bitcoin is by far one of the largest cryptocurrencies by market capitalization and is the first choice a lot of investors make when it comes to entering the crypto sphere for the very first time.

It is important, however, to pick a platform that’s perfect for the job, and Crypto.com is a solid option due to the fact that it has low fees, a lot of variety in terms of coins on offer, and a streamlined and optimized mobile application that will enable anyone to buy Bitcoin within the span of just a few minutes.

Cryptoassets are a highly volatile unregulated investment product.

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