Exploring Indodax, Indonesia’s top crypto exchange

Over the past few years, Indonesia has seen remarkable growth in the blockchain and crypto-asset industry. In 2020 alone, the country reached over 22.6 trillion crypto transactions from more than 1.5 million traders. One of the reasons that led to this growth is the Indonesian government’s legalisation of Bitcoin trading to support the use of crypto assets as commodities.

In 2019, the Commodity Futures Trading Regulatory Agency of Indonesia, BAPPEBTI, allowed crypto exchanges to operate legally in the country. This led various Indonesian-based crypto exchanges to enter the market, one of which is Indodax.

Founded in February 2014 by Oscar Dharmawan, Indodax was previously known as Bitcoin Indonesia but was changed in March 2018 into a simplified word which is Indonesia Digital Asset Exchange or Indodax in short. It has an estimated 10 million monthly visitors with more than 4 million members and over 60 types of digital assets.

Features and services of Indodax Exchange

Indodax claims to be the largest crypto exchange in Indonesia and it is easy to know why. Its helpful features and quality services made the users’ trading experience easier. This is why it attracts more and more crypto enthusiasts not just in Indonesia but also across Southeast Asia. Take a look at some of the features and services of Indodax Exchange below:

Crypto exchange

The trading view of Indodax consists of the typical buy and sell feature present in all crypto exchanges. It has a simple interface that makes it easy for both beginner and expert traders to navigate through. There is also a Live Chart where you can check the volatility of a certain cryptocurrency within a specific time.

As for the fees, Indodax has no trading fees for crypto transactions. The withdrawal fees are also below the industry average. For instance, withdrawing BTC can be as low as 0.0005 BTC which is lower compared to other crypto exchanges. However, these fees can still be subject to change depending on the withdrawal method you choose.

Indodax exchange supports more than 60 cryptocurrencies such as Bitcoin (BTC), Ethereum (ETC), Litecoin (LTC) and Dogecoin (DOGE). It also supports more than 75 trading pairs. According to CoinMarketCap, the exchange has over $40 million trading volume as of January 6, 2022.

Accessibility

For users who want to trade on the go, Indodax’s website can be used both on mobile and desktop devices. For a better mobile experience, you can download the Indodax app in Google Play Store for Android and Apps Store for iOS devices for free. With these, you can now track your sales and purchase orders via PC or mobile phones, anytime and anywhere.

On Indodax exchange’s homepage, you can use their Crypto Asset Calculator where you can convert various cryptos into Indonesian rupiah (IDR).

Customer service

Indodax exchange has strong and reliable customer service since it operates 24/7 even during holidays. Thus, you won’t need to worry about solving issues or problems even during Christmas or other holidays. You can contact customer service through live chat, phone or email if you have any questions or concerns.

If you want to search for the solution to your problem by yourself, you can access Indodax’s vast FAQ section. Here, you will be provided with tutorials and guides on how to use the website. Take a look at some of the topics you may read on its FAQ section below:

• Security: Learn how to change your password, enable Google Authenticator on your account and more.
• Account: Read questions about creating multiple Indodax accounts, accessing locked accounts and so on.
• Account verification: Learn how to verify your account, send photos or files for verification and read other guides on how you can provide proof of identity.
• Crypto trading: Read all about the process of crypto trading in Indodax including how to deposit and withdraw as well as how to buy and sell assets.

Security

Every account in Indodax is subject to two-factor authentication (2FA) via SMS or email to ensure maximum security and prevent anyone from executing financial transactions.

Indodax Academy

Indodax Academy lets you learn all about blockchain tech and crypto trading by accessing and reading various related resources! Take a look at what this feature can offer you below:

• Blogs: Access a collection of articles related to crypto and blockchain such as crypto-trading tips, news and updates.
• Glossary: Learn about the important terms in the crypto world.
• Market Signal: Know which is the best asset to buy through studying the prediction and performance of various crypto and fiat currencies.
• Podcast: Listen to the insights and reviews of various crypto experts.
• Tutorials: Watch and learn how to trade crypto in a fast and easy way.

Getting started with Indodax exchange

It is recommended that you try using Indodax exchange due to its various features that are extremely useful for beginners and experienced crypto traders alike. Signing up for an account and using the exchange is easy to do. Take a look at the steps below to start your crypto trading journey at Indodax:

How to register

1. Click on the ‘Sign Up Now!’ button located at Indodax exchange’s homepage.
2. Enter your desired username and unique password.
3. Put your valid and active email address and phone number.
4. Wait for the SMS verification code to be sent to your phone number. Enter the code on the required field and wait for the website to redirect you to your account.
5. Go to the verification page located on the sidebar and follow the instructions to verify your account.

How to deposit

1. Go to your user account and click ‘Wallet’.
2. Click the ‘Deposit Rupiah’ button and enter the amount you want to trade.
3. Choose the payment method then click ‘Continue’.
4. Enter your bank account number and check the right side of the page if there are further instructions.
5. Check the details in the ‘Deposit Confirmation’ field before you transfer your funds. 
6. Confirm transfer and wait for the financial team to validate the transaction.

How to trade

1. Go to the ‘Marketplace’. Then, select your desired Purchase or Sales Order types.
2. Enter the amount of crypto you want to purchase or sell.
3. Click the ‘Buy’ or ‘Sell’ button then press ‘Ok’ once the confirmation appears.
4. The amount will appear or be deducted in your account balance once the order is successful. 

How to withdraw

1. Go to your user account and click ‘Wallet’.
2. Click the ‘Withdraw Rupiah’ button and enter the amount you wish to withdraw.
3. Choose the bank where you want to receive the fund. Enter the SMS pin sent to you or use a Google Authenticator pin.
4. Click ‘Send’ and wait for the financial team to verify the transaction.

Sign up and explore Indodax now

Indodax was initially for Indonesian users but due to the useful and advanced features it offers, it began to attract more and more crypto enthusiasts worldwide. Now, the exchange has been serving Southeast Asia through its world-class digital asset service. Sign up for an account at Indodax today and try its service and features to enjoy trading. Read more articles like this at BTC Post!