All You Need to Know About Indodax!
Indodax, previously known as Bitcoin Indonesia, changed its official name on 14th March 2018. It’s Indonesia’s largest crypto asset market – the fastest, easiest, and secure of all, that allows you to trade your crypto assets including Bitcoin, Ethereum, Ripple, and many more! Currently, the Indodax market enjoys over 19 million users who are expected to increase even more with its popularity over time. Because the deposits of Indonesian Rupiah can be executed immediately, it is widely popular among the Indonesians. You may expect the withdrawals to take hardly a day! Similarly, until November 2019, the exchange has got over 64 coins and 75 trading pairs.
Indodax Offers Its Services 24/7 Everyday
One of the best things about this digital crypto exchange is that it offers its services 24/7. Even if its some holiday and you have to do some important crypto errand e.g. during Christmas or Thanksgiving, then don’t you worry! Indodax has got your back! It’s there to help you with making all kinds of transactions! One other advantage that you gain in this exchange is its focus over increased security, simplicity, and speed and that’s what most of the cryptocurrency traders look for in any trading platform. However, there’s bad news for US residents! The Indodax market is empty of the investors who reside in the United States of America. They may look for any other platform yet until they are offered the services from Indodax.
Easiest Trading Views on Indodax
Every exchange has its own trading view and you may never assume which one is the best. Thus, you have to look for the trading that suits you the best! All kinds of trading views usually have some aspects in common such as they all display the order book or at least some part of the order book, a price chart of the chosen cryptocurrency and order history, buy and sell boxes, etc. Thus, it’s always recommended to look into the trading view before you choose any trading view for yourself! Hence, Indodax also contains one of the easiest versions of the trading view where you may view the buy and sell interface that makes it easier for the crypto investors to understand everything; however, it may not be liked by the experienced traders for lacking some features that they look for!
What Features Does Market Indodax Provide You?
Most of the crypto traders show concerns over the inconvenience that they face while making transactions or doing some trade. However, the Indodax market is full of users who are satisfied with the mobile optimization that allows them to make their trade ongoing whenever and wherever they feel comfortable and get an opportunity. Moreover, the trading fee at market Indodax is quite minimal i.e. between cryptocurrencies at 0.00%. That’s truly incredible because very few exchange platforms do offer no-fee trading offers. Similarly, the Indodax withdrawal fee amounts only to 0.0005 BTC when you withdraw BTC and is below the industry average which gives it a strong competitive advantage against many other top crypto exchanges in the market. What other benefits does market Indodax enjoy? Well, every user account is subject to two-factor authentication, email, and SMS verification from Google Authenticator which ensures that nobody could access your account and the transactions are only validated by you! If you any own Indonesian bank, you will be able to make crypto-asset purchases in less than an hour or convert them into rupiah taking only one day! In addition, buying and selling of the transactions could be easily accessed through one account via a PC, tablet, or smartphone application anytime and anywhere that gives you the latest market updates, interactions with the fellow traders, and all information about your crypto assets at your fingertips. Indodax allows you to invest with your crypto assets starting from 10.000 IDR to get your maximum desired profit in return.
Things You Need to Know about BTC to IDR Indodax
Let’s understand how you can buy and sell BTC to IDR on Indodax, thereby making it easier for you to make transactions for trading or buying or selling your goods and services.
How You Can Buy Bitcoins with Indonesian Rupiah?
Let’s guide you about BTC to IDR Indodax and the mechanisms that it involves! First, we will guide you about how you can buy bitcoins with Indonesian rupiah using Indodax.
- Login to your account on the Indodax platform.
- On the main page, go to menu named “Marketplace” and select the option “BTC / IDR”.
- Doing this, two options of purchase order types will appear in front of you i.e. Limit and Market / Instant.
- If you choose to buy bitcoin using the Limit method, you will need to enter the amount in rupiah and purchase price that you want. Next, you will be asked to press the “Buy Bitcoin” button and make it done using the “OK” button once the message of confirmation appears.
- Now if you want to buy bitcoin instantly, you will need to click on the “Market / Instant” order type. This method will however charge you a fee of 0.3% of the number of transactions as you are considered as a Market Taker. Next, enter the amount of rupiah you want, press the option “Buy Bitcoin” and click the “OK” button when confirmation appears.
- Once your order becomes successful, the bitcoin balance will appear in your account balance by simply viewing the option “Bitcoin” on the “Wallet” menu.
Now one question may appear in your mind is can you buy bitcoin with some other currency excluding rupiah? Well no! Certainly not! The Indonesian regulations allow you to buy or sell your bitcoins through Indonesian rupiah. However, you may exchange your bitcoin to other crypto assets such as Litecoin, Dogecoin, Ripple, Stellar, etc. using the platform Indodax.com without being charged with some extra fee.
How You Can Sell Bitcoins with Indonesian Rupiah?
Must be waiting for this information right, if you are willing to sell bitcoins with rupiah? Don’t worry! We have also listed every single detail using step by step instructions in this article. What are you waiting for? Let’s go and understand how you can deal with BTC to IDR Indodax while selling the bitcoins with rupiah.
Well, to sell your bitcoins with Indonesian rupiah, all you need to follow the following steps!
- Log in to your account on the Indodax platform.
- Click the menu “Marketplace” and select the option “BTC / IDR” on the indodax platform.
- You will be taken to the two choices of Sales Order Type i.e. Limit and Market / Instant.
- If you choose to sell bitcoin using the Limit method, enter your target amount in bitcoin and the selling price that you want, next, click the option “Sell Bitcoin” and go to the “OK” button once the message of confirmation appears.
- While if you want to sell bitcoin instantly, go to the option “Market / Instant” Order Type and click on it. This method will only charge you a fee of 0.3% of the number of transactions that you made, for you are considered as a Market Taker. Follow the steps with entering the amount of bitcoin you want to sell, press the “Sell Bitcoin” button and click the “OK” button once the message of confirmation appears.
- Once the selling order is completed and successful, the Rupiah balance will increase in your account balance by going to the option “Rupiah” Assets on the “Wallet” menu.
Things You Need to Know Regarding CoinMarketCap Indodax
Indodax is best known for its remarkable features and convenient services to its users. It has started a program known as Community Coin Voting that helps you to determine the new coins or tokens eligible to be listed in the CoinMarketCap Indodax platform. It enables its new users to first register and then vote for their desired amount of coins or tokens.
Let’s Know About the Crypto Asset Registration and its Rules
To be a part of this program and get your crypto asset registered, you will need to be a verified member of Indodax. For registration, you will need to invest 100 TEN per Crypto Asset that will be deducted from your account balance.
Following are some other rules that you will need to consider before registering for a crypto asset:
- Your project should not be violating the regulations imposed by Indonesia.
- The registered project should be worth at least Rp 1.00.
- Indodax Project must be registered on CoinMarketCap.
- The project must be owned by a vivid identity.
- The crypto asset must have a definite supply and circulation and must be seen in the blockchain network.
- Indodax accepts only Ethereum Token, NEO Token, Stellar Token, Achain token, and Waves Token.
- You must determine the number of security deposits for registering your crypto asset. The security deposit is usually 10 tokens that ensures the smooth running of the coin or token project for one year in the future and is applicable for only one time.
- To be a winner, you will need to win a minimum score of 10000, etc.
Indodax is not bound to follow all these rules rather it may change the rules for Community Coin Voting next time.