Pricing
- For market makers or limit orders, a nominal fee of 0.21% and 0.20% is applied to Buy and Sell transactions
- Market takers or instant transactions entail a fee of 0.31% for Buy transactions and 0.30% for Sell transactions
- Market makers experience a fee of 0.24% for both Buy and Sell transactions based on the transaction amount.
- Market takers face a slightly higher fee of 0.27% for both Buy and Sell transactions.
- In the USDT market, the minimum transaction amount is set at 1 USDT.
Platform
Mobile app, website
Pros
- Many options are available for crypto
- The trading terminal’s UI is straightforward and easy to use
- Indodax has decreased commissions to make trading easier for its users
- Educating beginner traders through Indodax Akademi
- Easy to access
Cons
- Only available for Indonesian rupiah (IDR) among fiats to trade.
Customer Service
Phone customer support, Instagram, Call center 24/7, email
Indodax Review
Anyone can convert assets in either direction thanks to their built-in converter. The only problem that can be found is that there is no other fiat currency besides the Indonesian rupiah. In this case, the US dollar would be the best choice. But USDT is a cryptocurrency that can be exchanged for any other cryptocurrency.
Indodax, unlike many others, runs its own call center. This means you can talk to support staff directly and address urgent problems as soon as possible. Despite its location in Indonesia, the exchange made sure that traders felt at ease speaking with technical assistance in English.
About Indodax
A cryptocurrency exchange, Indodax was established in 2014 by the CEO, Oscar Dharmawan. The cryptocurrency exchange was originally launched under the name Bitcoin Indonesia but changed to its current name in 2018. The cryptocurrency exchange has always allowed deposits in the Rupiah, the national currency of Indonesia, from the time it was formed until the present.
At the time, even after nine years of its existence, Indodax had more than five million registered members in February 2022 and rapidly grew in popularity among cryptocurrency users. Indonesians are particularly fond of it. This might be because deposits made in Indonesian Rupiah can be withdrawn immediately. Withdrawals typically take one banking day.
Who Should Use?
Beginner traders who want to start learning crypto, and experienced traders who want to level up their skills.
Is Indodax Safe?
Yes, it is safe.
Multi-factor authentication safeguarded each transaction, ensuring that your transaction is legitimately signed and validated only by you. This authentication method combines email confirmation and Google Authenticator SMS. You may quickly buy, sell, and track your account’s transactions through a PC, tablet, or mobile application.
Because of its large user base, Indodax is a totally legitimate and secure site. However, very little information on Indodax’s safety and security can be obtained online.
Indodax Platform & Features
Buy and Sell Bitcoin
Indodax was the first Indonesian exchange to provide instant Bitcoin buying and trading. You can purchase or sell Bitcoin when you open this section. You will see your balance in both Bitcoin and IDR.
Marketplace
Several crypto assets are in the marketplace section and the price in IDR (Indonesian rupiah), volume, and percent price could change over the previous day. You can choose your preferred cryptocurrencies and navigate through the IDR Market, USDT Market, Derivate, StableCoins, and Defi subsections.
Indodax OTC
Indodax OTC, short for Over-the-Counter, presents a heightened level of security and personalized high liquidity transaction services, catering to members seeking to engage in substantial crypto asset trades. Operating with ease, speed, and enhanced security, Indodax OTC addresses larger transactions that surpass the capacity of regular order book processing. This service prioritizes the seamless execution of members’ transactions, guided by meticulous security and privacy protocols, with the assistance of their dedicated team.
Indodax Academy
Indodax Academy is your go-to for learning about cryptocurrency. From basics to advanced topics, it’s a place to improve your crypto knowledge and learn how to manage your crypto assets effectively. You’ll get insights into Bitcoin, blockchain technology, and more.
Discover the crypto world step by step with Indodax Academy. Whether you’re new to crypto or want to level up your understanding, this platform has you covered. Learn about Bitcoin, grasp blockchain’s ins and outs, and gain familiarity with various crypto assets – all in one place.
Indodax makes learning about cryptocurrency easy and accessible. The academy covers everything you need to know, starting from Bitcoin’s basics to introducing different crypto assets. It’s a valuable resource for both beginners and experienced enthusiasts, helping you confidently explore the exciting realm of digital currencies.
Indodax Pricing
Indodax, a prominent trading platform, has introduced an appealing opportunity for investors looking to engage in forward-looking asset investments. With a substantial 40% reduction in fees for taker transactions, this offer stands without any conditions, enhancing the cost-effectiveness of investing in #AsetMasaDepan. Within the Indonesian Rupiah (IDR) market, two distinct fee structures are in place. For market makers or limit orders, a nominal fee of 0.21% and 0.20% is applied to Buy and Sell transactions, respectively. On the other hand, market takers or instant transactions entail a fee of 0.31% for Buy transactions and 0.30% for Sell transactions. Notably, a minimum transaction amount of Rp10,000 is stipulated for the IDR market. Likewise, in the USDT market, a parallel fee structure prevails.
Market makers experience a fee of 0.24% for both Buy and Sell transactions based on the transaction amount. Meanwhile, market takers face a slightly higher fee of 0.27% for both Buy and Sell transactions. In the USDT market, the minimum transaction amount is set at 1 USDT. This strategic fee arrangement, combined with the reduced fees for taker transactions, presents an advantageous proposition for investors seeking to participate in the dynamic world of trading on the Indodax platform.
How to Open an Account?
On Indodax, the registration procedure is simple and generally standardized. To create an account on Indodax, here are a few steps:
- Submit your username, email, password, and contact information.
- The platform will ask you to complete the required KYC (Know Your Customer) verification process.
- You will receive a code that must be entered in a box on the website.
- After successfully registering, you will be routed to your account.
- After that, you will be prompted to authenticate your account by selecting an option from the sidebar menu.
In Conclusion
Indodax stands as the largest cryptocurrency exchange in Indonesia, renowned for its user-friendly platform and robust security measures. The platform offers a straightforward buy-and-sell interface, which has also been streamlined for ease of use. While it may not encompass all the advanced features that seasoned traders might seek, this design makes it exceptionally accessible and comprehensible for new cryptocurrency investors.
The platform’s commitment to user education through features like Indodax Akademi and its dedicated call center showcases a comprehensive approach to customer support. As a result, Indodax’s continual growth and popularity among Indonesian cryptocurrency enthusiasts underscore its role as a reliable gateway for both beginner traders embarking on their crypto journey and experienced traders aiming to enhance their skills in the dynamic world of digital assets.
Indodax Review Overall
Indodax is a user-friendly cryptocurrency exchange ideal for beginners and experienced traders looking to trade a wide range of crypto assets. Its straightforward interface, reduced trading commissions, and comprehensive educational resources make it accessible and easy to use. However, it only supports Indonesian Rupiah (IDR) among fiat currencies, which may limit its appeal to international traders. Overall, Indodax is a reliable and accessible platform for cryptocurrency trading in Indonesia.
Pros
- Many options are available for crypto
- Simple, user-friendly interface
- Reduced trading commissions
Cons
- Only supports Indonesian Rupiah (IDR) among fiat currencies
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