Indodax is an online exchange whose CEO is Oscar Dharmavan. The exchange, founded in 2014, is based in Indonesia, where users can trade Bitcoin and other assets for the Indonesian currency-the rupee. Indodax was previously known as Bitcoin Indonesia, as it changed its name in 2018.
Indodax is the largest digital asset exchange in Indonesia and Southeast Asia with more than 1.6 million registered users. It is particularly popular among users in Indonesia, but is rapidly gaining popularity in the cryptocurrency community. This may be due to the fact that deposits in Indonesian rupiah can be made immediately. Withdrawals take approximately one banking day. However, BTC deposits and withdrawals are made immediately.
It is worth noting that Indodax also sponsors a social project called Bitisland. This is a project to transform the tropical paradise of Bali into a Bitcoin island. Essentially, the process is to increase the number of places accepting cryptocurrency as payment for goods and services, as eventually this is likely to lead to even more tourists coming to Bali to spend Bitcoin.
Indodax has a simpler version of the trading view, which consists of a buy and sell interface. The buy and sell interface makes the experience easy to understand for new crypto investors, although it may lack some of the features that more experienced traders are looking for.
Spot trading and margin trading of more than 40 cryptocurrencies is supported.
Two mobile apps are available for free in the Google Play Store and Apps Store for Android and iOS users. With these mobile apps, you can conveniently view and access your account without directly visiting the website.
- Dompet Bitcoin Indonesia: This app will help you quickly and easily and efficiently exchange, create / redeem vouchers, deposit or withdraw your balance in rupees or any other feature.
- Indodax App (Trading App): This mobile app is primarily developed and designed to meet the needs of consumers in trading crypto assets.
The exchange also provides its users with a unique Live Chart feature to find out the volatility during any specified time period.
Indodax offers trading between cryptocurrencies at 0.00%. This is an amazing offer, and the Indodax fees are really impressive. Few exchanges offer trading between cryptocurrencies without commission.
For trading between cryptocurrencies and fiat currencies, this is a commission of 0.30% for takers, but still free (0.00%) for producers. This, especially free trade for manufacturers, is also very competitive.
The Indodax exchange does not charge any fees to manufacturers. However, takers are charged a commission of 0.30% per trade. When withdrawing BTC, the exchange charges a withdrawal fee of 0.0005 BTC. This fee is lower than the industry average.
Indodax offers bank transfer and cryptocurrency as deposit methods, but the use of credit cards is not allowed. The fee for the online Deposit will be charged. But when using the virtual account method, different fees are charged.
The exchange provides an affiliate program. Users can link to the platform among their friends through this program. Users will receive 25% commission from their referrals ' trading commissions for 3 months.
On this exchange, each account is subject to the following types of protection:
- 2FA (Two-factor authentication),
This is done so that no one but you can perform any transactions.
The exchange has a responsive support service. You can contact them by phone or email if you have any questions, criticisms, or suggestions.
- To own your crypto assets, you need to manage your own private keys.
- Ledger hardware wallets make private key management easy and secure.
- Each unique 24-word recovery phrase creates a new set of private keys.
- Make sure you secure your 24-word recovery phrase properly.