Indodax is one of the most popular and trusted cryptoexchange in Indonesia and it is making it’s mark in the crypto world. So here we brought you a review of Indodax exchange which consist of all the necessary information a user needs like general information, Trading, fees and security.
So lets us look at Indodax exchange review, And How you can invest in that? whether it is user-friendly or not? Everything we displayed below.
Quick Navigation :
- What is Indodax?
- Deposit and withdrawal
- Indodax Trade
- Indodax Fees and Security
- Latest Updates and Announcements
- Latest News
What is Indodax ?
Indodax is a crypto exchange, which came into existence in 2013 and is headquartered in Indonesia. With more than a million users, the platform offers you to trade your Bitcoin with Rupiah. You can also trade Bitcoin to other digital assets such as Ethereum, Litecoin, Dogecoin, DASH, Ripple, Stellar, XEM, NXT, Bitshares and many more for free.
Moreover, currently the platform 24-hr trading volume is $4,191,204 and ranks 97th in the Coinmarketcap. It is the largest cryptocurrency exchange in Indonesia.
Deposit and withdrawal
After a successful Login, Click ‘Financial’ tab, choose the coin you wish to deposit. Then Click ‘Deposit/Withdraw Bitcoin For example Bitcoin.
You will find a Bitcoin address that is generated for you and can be used multiple times. For example: 1Gxdy6sBiFHJjsskmJ14QSH9STPDxvr8JR
Copy the address to your wallet and then send the amount of Bitcoin you want to deposit to that address. You can scan the QR Code on the right to make it more simpler for you to send Bitcoin from your smartphone wallet.
Wait for atleast 10-30 minutes until your coin arrives in your Indodax account. Your BTC balance will be shown automatically in your account.
Click ‘Deposit/Withdraw Bitcoin’ on the ‘Financial‘ and follow the instructions. Enter the bitcoin amount you wish to send to your personal wallet. Enter your bitcoin address, and your Google Authenticator PIN or SMS PIN. Then Click ‘Send’ and click on the confirmation link which is sent to your e-mail.
In few minutes Bitcoin will arrive on your wallet and minimum amount to send is 0.001 BTC. and for the withdrawal the limit equivalent to 200.000.000 IDR a day. For foreigners, the maximum withdrawal per day is equivalent to 5.000.000 IDR.
Click “Marketplace” to Buy Bitcoin. Then click “Bitcoin“. After that, enter the amount of Rupiah. And enter the price. Then you can click “Buy Bitcoin”. To buy Bitcoin by instant method, click “Market/Instan”. Once your order has been fulfilled you can see bitcoin balance on your account has increased.
Similarly, to sell coin, Click “Marketplace”. Then click “Bitcoin“. After that, enter the amount of bitcoin and enter the price. Then click “sell Bitcoin”. For sell Bitcoin by instant methods, click “Market/instant”. Once the order has been fulfilled your Rupiah balance will be increased.
Indodax Fees and Security
Deposit is free at Indodax. But it charges different withdrawal fees for different coins like an example for bitcoin it is 0.0005 BTC. Also, the platform charges 0% as maker fee and 0.3% as taker fee.
For deposit/ withdrawal of rupiya Indodax charges 1% fees. Moreover, Indodax does not charge online Deposit fees. But, different fees will be charged when using the Virtual Account method.
Indodax offers the following types of security: 2FA (two-factor authentication), email and SMS-verification. This is to ensure that no one other than yourself executes any transaction. the security here is pretty good in accordance with industry standards.
Final VerdictIndodax is the largest cryptocurrency exchange platform in Indonesia. It targets mostly Indonesian users. The platform is user-friendly with good security. Moreover, the platform offers many cryptocurrencies apart from bitcoin and also accepts fiat trading.
Latest updates and announcements