Indodax is one of the most popular and trusted crypto exchange 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 like 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
- Trade at Indodax
- Indodax Affiliate Program
- Indodax Mobile App
- Fees and Security
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/Instant”. Once your order has been fulfilled you can see bitcoin balance on your account has increased.
Similarly, to sell the 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 Affiliate Program
In a bid to promote the exchange globally, Indodax has started an Affiliate program. With this program, users can refer to the platform among their friends. Each referral created will benefit the user. The account holders will get a 25% commission from their referral’s trading fees for 3 months.
Indodax mobile app
Indodax has 2 Android apps. Traders can use any of the apps to access the exchange via their smartphone. However, the iOS version is still not available.
- Dompet Bitcoin Indonesia – The app can be used for send bitcoins, instant rupiah-bitcoin trading. The app has an easier login process and 24/7 live support
- Indodax Trading Platform – This platform is specially designed from the trading point of view. The app has more than 10 different market , comparison of Bitcoin prices globally, chat room. In addition, the app also has a customised widget which sends notifications and users can set alarm for their trades.
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 rupiah, 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.
Indodax 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.
Overall, the exchange is good and it offers both web and mobile application. Indonesia being its primary target, the platform is worth being the investment.