Regulated

Score

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/10

INDODAX

Indonesia

|

5-10 years

Digital Currency License

https://indodax.com

Website

Yesterday Vol
7 Days
Rating Index
Influence

Influence

AA

Influence Index NO.1

Indonesia 8.02

Better than 99.76% exchange(s)

Biz Area

Search Statistics

Advertising

Social Media Index

Influence
AA

Licenses

BAPPEBTI

BAPPEBTIRegulated

Digital Currency License

Exchange Info

More
Company Name
INDODAX
Phone of the company
021-50959800
+6221-5052-5588
Customer Service Email Address
support@indodax.com
bug@indodax.com

Website

Genealogy

Social Media

Trade Type

Keywords

Time Machine

White Paper

Related Software

Github

Related Docs

All Corps

New Arrival

Vol Stat

Influence

Yesterday Vol

7 Days

$ 3.742m

$ 3.742m

28.71%

$ 1.411m

$ 1.411m

10.82%

$ 1.065m

$ 1.065m

8.17%

$ 608,317

$ 608,317

4.66%

$ 548,646

$ 548,646

4.2%

$ 388,039

$ 388,039

2.97%

$ 279,663

$ 279,663

2.14%

$ 203,707

$ 203,707

1.56%

$ 199,485

$ 199,485

1.53%

$ 172,392

$ 172,392

1.32%

$ 171,420

$ 171,420

1.31%

$ 167,829

$ 167,829

1.28%

$ 158,252

$ 158,252

1.21%

$ 122,066

$ 122,066

0.93%

$ 120,587

$ 120,587

0.92%

User Reviews

More

101 ratings

Participate in evaluation
FX1082620273
The trading fees on INDODAX are just too high, it feels like getting skinned every time I trade. Customer service is not always helpful, they need to improve their service quality.
2024-03-15 02:48
5
Witpay
I really can't compliment this INDODAX, the trading fees are too high, it's like robbery. And, its wallet security is worrying, really makes one concerned about cryptocurrency security!
2024-02-23 23:35
6
FX1785198068
INDODAX is poorly rated! Cryptocurrency trading with excessively high fees. N_id faces risks when withdrawing money and sometimes it is inconvenient!
2024-01-24 05:33
4
Chandler
The handling fee of INDODAX is really unacceptable! The ease of use can be improved, and its security wallet method does not meet the standards in my mind, and the auxiliary customer service is not above the standard.
2023-10-24 14:36
7
Gentle Tommy
INDODAX is a good platform, but fee is too high.
2023-11-06 04:10
9
micky9624
As a crypto enthusiast, I've tried several exchanges, and this one stands out. The liquidity is impressive, and the responsive customer support ensures I'm never left in the dark.
2023-12-24 01:13
4
lydia8716
Being new to crypto, I didn't know where to begin, but this exchange made it easy. The support team was patient, and I'm gaining confidence with each trade.
2023-12-10 08:42
4
etrebo
This exchange has made crypto trading feel like second nature. It's so intuitive that even complex transactions become a breeze.
2023-12-09 00:44
8
TINUKE
As someone completely new to crypto, this exchange feels like a great starting point. The support team is patient, and the platform's simplicity makes trading less intimidating.
2023-12-06 03:31
1
etrebo
The low-latency trading infrastructure is a game-changer for active traders. It ensures that my orders are executed with precision and speed.
2023-12-03 17:17
8
FX60ustaz
we hope it could be better
2023-11-23 14:28
7
Deukaewin
The fee is so high. But i still use it cause this is best exchange in my country
2023-09-07 12:30
5
artem
my very first crypto exchange since it is indonesian based actually its easy to use but not that effectively i kinda dont like their app appearance
2023-09-06 17:42
9
wintlahtiba
This exchange from Indonesia is actually good, but the fees are really high
2023-08-25 06:38
3
yusuf533
The responsiveness of the platform during peak trading hours is impressive. No lags or delays – it's a testament to the robust infrastructure.
2023-12-27 02:35
4
EFE
As a seasoned trader, I appreciate the diverse range of trading pairs offered by this exchange. It's a one-stop-shop for exploring and diversifying my crypto portfolio.
2023-12-24 10:23
1
Preye3913
User experience matters, and these exchanges get it right. It's like they've tailored their platforms for crypto enthusiasts like me. Smooth design, easy navigation – trading made enjoyable!
2023-12-24 09:08
3
EFE
The loyalty program is a nice surprise. It's a small gesture, but getting rewarded for regular trading activity feels like a thoughtful bonus.
2023-12-23 22:00
5
yusuf533
Being part of a crypto community adds a different dimension to the trading experience. These exchanges foster community engagement – it's like trading with a bunch of crypto buddies. Love it!
2023-12-23 21:22
3
Edisson
The exchange's commitment to data privacy and user anonymity, especially through decentralized account creation options, underscores its respect for user rights.
2023-12-06 21:48
5

View all comments

Aspect Information
Company Name INDODAX
Registered Country/Area Indonesia
Founded year 2014
Regulatory Authority Regulated by BAPPEBTI
Cryptocurrencies available 200 coins, including Bitcoin, Ethereum, Ripple, Bitcoin Cash, and others
Trading Platforms Web-based platform and mobile app
Deposit & Withdrawal Bank transfer, cryptocurrency deposit, and withdrawal
Educational Resources Tutorials, articles, and trading guides available on the website

Overview of INDODAX

INDODAX is a virtual currency exchange based in Indonesia. It was founded in 2014 and is regulated by BAPPEBTI . The exchange offers a variety of cryptocurrencies for trading, including Bitcoin, Ethereum, Ripple, Bitcoin Cash, and others. INDODAX operates on a web-based platform as well as a mobile app, providing users with flexibility in accessing their accounts.

In terms of deposit and withdrawal options, INDODAX supports bank transfers, as well as cryptocurrency deposits and withdrawals. This enables users to easily fund their accounts and withdraw their funds when needed. Additionally, INDODAX provides educational resources such as tutorials, articles, and trading guides on its website. These resources aim to help users navigate the complexities of virtual currency trading and improve their understanding of the market.

For customer support, INDODAX offers both email support and live chat. This ensures that users can reach out for assistance or clarification whenever they encounter any issues or have questions regarding their accounts or trades.

Overall, INDODAX provides a platform for individuals in Indonesia to engage in virtual currency trading. With its range of available cryptocurrencies, trading platforms, deposit and withdrawal options, educational resources, and customer support channels, INDODAX aims to facilitate a seamless and accessible trading experience for its users.

Overview of INDODAX

Pros and cons

Pros:

- INDODAX offers a wide range of cryptocurrencies for trading, including popular options like Bitcoin, Ethereum, Ripple, and Bitcoin Cash. This allows users to diversify their portfolio and take advantage of different market opportunities.

- The exchange provides a user-friendly trading platform accessible through both web and mobile. This accessibility allows users to access their accounts and make trades conveniently from anywhere with an internet connection.

- INDODAX supports various deposit and withdrawal options, including bank transfers and cryptocurrency deposits/withdrawals. This provides flexibility for users in funding their accounts and accessing their funds.

- The exchange offers educational resources such as tutorials, articles, and trading guides. These resources can help users enhance their knowledge and understanding of virtual currency trading, empowering them to make more informed decisions.

Cons:

- The maximum leverage is not available on INDODAX, limiting users' ability to amplify their trading positions.

- While INDODAX provides customer support through email and live chat, it may not be as immediate or responsive as some users might prefer.

- The lack of regulation and oversight may make some users hesitant to entrust their funds to INDODAX, as there may be a higher risk of potential issues like fraud or hacking.

Overall, INDODAX offers a range of benefits including diverse cryptocurrency options, user-friendly platforms, flexible deposit and withdrawal options, and educational resources. However, potential drawbacks include the lack of regulation, the absence of maximum leverage, and the potential concerns about customer support and security.

Pros Cons
Wide range of cryptocurrencies for trading Potential concerns about security and transparency
User-friendly trading platform accessible through web and mobile Customer support may not be as immediate or responsive
Various deposit and withdrawal options
Educational resources available
Regulated by BAPPEBTI

Regulatory Authorities

INDODAX is currently regulated by the Badan Pengawas Perdagangan Berjangka Komoditi Kementerian Perdagangan (BAPPEBTI) in Indonesia. The exchange operates under a Digital Currency License issued by PT. INDODAX NASIONAL INDONESIA. The license type and name demonstrate that INDODAX has met the necessary regulatory requirements to operate as a virtual currency exchange in Indonesia.

Regulatory Authorities

Security

INDODAX implements security measures to protect user accounts and funds. These measures include two-factor authentication (2FA) and withdrawal confirmations via email. With 2FA, users are required to provide an additional layer of verification, such as a code from a mobile app, in order to access their accounts. This helps to prevent unauthorized access to user funds.

As for user feedback, it is important to note that individual experiences and opinions may vary. Some users have reported positive experiences with INDODAX, highlighting the ease of use and the variety of cryptocurrencies available for trading. However, there may also be users who have expressed concerns about the security and transparency of the platform, especially due to the lack of specific regulatory oversight.

It is recommended that users conduct their own research and take necessary precautions when using any virtual currency exchange, including choosing strong and unique passwords, enabling additional security features, and keeping their devices and software up to date. It is also advisable to be cautious of suspicious emails or phishing attempts that may target user login credentials or personal information.

Overall, while INDODAX has implemented security measures and has received some positive user feedback, it is important for users to remain vigilant and follow best practices to ensure the safety of their accounts and funds.

Trading Market

Indodax is a cryptocurrency exchange that offers a wide range of trading assets, including various cryptocurrencies and tokens. The exchange provides trading pairs for the Indonesian Rupiah (IDR) and Tether (USDT). Here is a summary of the trading assets available on Indodax:

  • IDR Markets: These include various cryptocurrencies paired with the Indonesian Rupiah (IDR). Notable assets include Bitcoin (BTC/IDR), Cardano (ADA/IDR), Ethereum (ETH/IDR), and many others.

  • USDT Markets: These are trading pairs with Tether (USDT) as the base currency. Users can trade USDT for various cryptocurrencies.

  • Stable Coin: Indodax offers trading pairs involving stablecoins, which are digital assets pegged to the value of fiat currencies. Examples include Tether (USDT/IDR) and Stasis Euro (EURS/IDR).

  • DeFi (Decentralized Finance): Indodax provides trading pairs for various DeFi tokens, which are tokens associated with decentralized financial applications. Examples include Aave (AAVE/IDR), Compound (COMP/IDR), and more.

  • NFT/Gaming: Non-Fungible Tokens (NFTs) and gaming-related tokens are also available for trading. Examples include My Neighbor Alice (ALICE/IDR), Axie Infinity (AXS/IDR), and The Sandbox (SAND/IDR).

  • Metaverse: Indodax offers assets related to the metaverse, a virtual reality-based digital universe. An example is Decentraland (MANA/IDR).

  • Layer 1&2: Layer 1 and Layer 2 blockchain platforms and tokens can be traded on Indodax. Examples include Ethereum (ETH/IDR), Solana (SOL/IDR), and Avalanche (AVAX/IDR).

  • Innovation: This category includes innovative and newer cryptocurrency projects. Examples include API3 (API3/IDR) and Mirror (MIR/IDR).

  • New Coin: Newly listed cryptocurrencies with potential can be traded under this category.

  • Indodax provides a diverse range of trading assets to cater to the interests and preferences of various traders, including those seeking established cryptocurrencies, DeFi assets, NFTs, and more. Users can access the exchange's platform to trade these assets and participate in the cryptocurrency market.

    Trading Market

    Cryptocurrencies available

    INDODAX offers a variety of cryptocurrencies for trading, including popular options such as Bitcoin, Ethereum, Ripple, and Bitcoin Cash. The prices of these cryptocurrencies fluctuate continuously on the exchange, as they are influenced by factors such as market demand and supply. It is important for users to closely monitor the prices and make informed trading decisions based on their analysis of market trends and indicators.

    Cryptocurrencies available

    Services

    Indodax extends its services beyond mere crypto trading. It offers a diverse range of features and services catering to the needs of its users.

    • Over-the-Counter (OTC) Trading for Large Transactions:

    • Indodax caters to large-volume traders by providing over-the-counter (OTC) trading services. This facilitates block trades and institutional transactions, ensuring efficient execution of large orders.

      • Fiat Currency Exchange:

      • Indodax facilitates the exchange of Indonesian rupiah (IDR) for a variety of cryptocurrencies, including Bitcoin, Ethereum, and USDT. This enables users to conveniently convert their fiat currency into digital assets and vice versa.

        • P2P Trading Platform:

        • Indodax provides a peer-to-peer (P2P) trading platform where users can directly trade cryptocurrencies with each other at their own desired prices. This decentralized approach offers greater flexibility and control over trades.

          Services

          How to open an account?

          The registration process for INDODAX can be summarized in the following six steps:

          1. Visit the INDODAX website and click on the “Register” button.

          2. Fill in the required personal information, such as your full name, email address, and phone number.

          3. Create a secure password and ensure it meets the specified criteria, which may include a minimum length and a combination of letters, numbers, and symbols.

          4. Agree to the terms and conditions by checking the box provided.

          5. Complete the captcha verification to confirm that you are not a robot.

          6. Click on the “Register” button to submit your registration request. You may then receive a confirmation email with instructions on how to verify your email address and activate your account.

          How to open an account?

          How to Buy Cryptos

          Here are the steps to buy cryptocurrencies on INDODAX :

          Buying Cryptocurrencies on INDODAX via PC:

          • Make sure you have a balance in Rupiah (IDR) in your INDODAX account.

          • Log in to your INDODAX account.

          • On the left side of the screen, click on the “Marketplace” menu, and then select the digital asset you want to buy, for example, Bitcoin.

          • In the “Buy Bitcoin” section, choose your desired purchase method in the “Order Type” column. You can select either “Limit” or “Market/Instant” order methods.

            • If you choose the “Limit” order method, specify the price at which you want to buy Bitcoin in the “Limit Price” column, based on your market analysis.

            • If you choose the “Market/Instant” order method, enter the amount of Rupiah you want to spend on buying Bitcoin in the “Estimation” column.

            • After filling in the required information, the system will automatically display the amount of Bitcoin you will receive in the “Total BTC” column. Then, you can click “Buy Bitcoin” to execute the trade.

            • If your order is successfully executed, you will see an increase in your Bitcoin balance in your account.

            • How to Buy Cryptos

              Buying Cryptocurrencies on INDODAX via the Mobile App:

              • Ensure you have a balance in Rupiah (IDR) in your INDODAX account.

              • Download and install the INDODAX mobile app, and then log in to your account.

              • In the app, locate the “Marketplace” option, and select the digital asset you wish to purchase, such as Bitcoin.

              • On the purchase page, choose your preferred purchase method, just as described in the PC version.

              • Fill in the necessary information based on your selection, and then tap “Buy Bitcoin” or a similar button to execute the trade.

              • If your order is successfully completed, you will see an increase in your Bitcoin balance within the app.

              • Please note that specific menu options and steps may vary depending on the INDODAX interface updates and versions, so it's advisable to follow the steps based on the version of the app you are using. Additionally, before making any cryptocurrency transactions, make sure you have a good understanding of the associated fees, security, and trading terms. It's a good practice to do some research and stay informed about market dynamics before trading.

                Buying Cryptocurrencies on INDODAX via the Mobile App:

                Fees

                When discussing withdrawal fees, Indodax levies a fixed charge of 0.0005 BTC for Bitcoin withdrawals and 0.005 ETH for Ethereum withdrawals. This fee is substantially lower compared to its counterparts on other exchanges, proving advantageous for traders who aim to transfer their funds swiftly and economically. Indodax also employs a maker/taker fee system. Makers incur a 0% fee for their transactions, whereas takers bear a 0.3% fee. This fee model encourages traders to execute more orders, further facilitating liquidity and efficiency in the marketplace.

                Fee Type Fee Charged Remarks
                Bitcoin Withdrawal Fee 0.0005 BTC Fixed charge, substantially lower than other exchanges
                Ethereum Withdrawal Fee 0.005 ETH Fixed charge, substantially lower than other exchanges
                Maker's Transaction Fee 0% Encourages more order placements
                Taker's Transaction Fee 0.30% Encourages more order placements

                Deposit & Withdrawal

                Deposit Methods

                • Bank Transfer: Indodax supports deposits via bank transfer in Rupiah (IDR). The minimum deposit amount is 50,000 IDR. The processing time for bank transfers is typically 1-3 hours.

                • Cryptocurrency: Indodax supports deposits via cryptocurrency. The supported cryptocurrencies are Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Litecoin (LTC), XRP, Bitcoin Cash (BCH), EOS, Tron (TRX), NEO, ONT, and IOTA. The minimum deposit amount for cryptocurrencies is 0.001 BTC. The processing time for cryptocurrency deposits is typically instant.

                Withdrawal Methods

                • Bank Transfer: Indodax supports withdrawals via bank transfer in Rupiah (IDR). The minimum withdrawal amount is 50,000 IDR. The processing time for bank transfers is typically 1-3 hours.

                • Cryptocurrency: Indodax supports withdrawals via cryptocurrency. The supported cryptocurrencies are Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Litecoin (LTC), XRP, Bitcoin Cash (BCH), EOS, Tron (TRX), NEO, ONT, and IOTA. The minimum withdrawal amount for cryptocurrencies is 0.001 BTC. The processing time for cryptocurrency withdrawals is typically instant.

                Processing Times

                The processing times for deposits and withdrawals vary depending on the method used. Bank transfers typically take 1-3 hours to process, while cryptocurrency withdrawals are typically instant.

                Here is a table that summarizes the deposit and withdrawal methods and processing times of Indodax:

                Method Minimum Amount Processing Time
                Bank Transfer 50,000 IDR 1-3 hours
                Cryptocurrency 0.001 BTC Instant

                Educational Resources

                INDODAX offers an educational resource called “Indodax Academy” to help users learn about cryptocurrencies and blockchain technology. The academy provides a range of materials suitable for all levels of learners, from beginners to advanced users.

                The basic lessons cover fundamental topics such as an introduction to crypto assets, explaining their value determined by the market, much like shares or bonds, and their trading on various exchanges. Blockchain technology, a critical aspect of cryptocurrencies, is also explained, highlighting its concept of a “chain of blocks.” Additionally, there are lessons dedicated to Bitcoin, the pioneering cryptocurrency with a limited supply of 21 million coins.

                The academy features popular articles, including “What is Pi Network? Is it Safe to Use?”, providing insights into crypto asset networks, and “How to Mining Bitcoin for Free for Beginners,” guiding beginners on Bitcoin mining. Users can explore topics based on their degree of difficulty, from beginner to proficient, and discover the latest articles about crypto assets and blockchain.

                In addition to educational materials, INDODAX offers a trading tutorial to guide users on how to register, complete KYC (Know Your Customer), and make deposits on the platform. The resource aims to empower users with the knowledge and tools necessary to navigate the world of cryptocurrency trading safely and efficiently.

                Please note that trading cryptocurrencies is highly volatile, and users should exercise caution and conduct their research before engaging in cryptocurrency transactions.

                Educational Resources

                Is INDODAX a Good Exchange for You?

                INDODAX stands out as the premier exchange for Indonesian rupiah (IDR) trading, offering a comprehensive selection of IDR trading pairs, seamless IDR deposits and withdrawals, ample liquidity for IDR pairs, a strong local presence, and compliance with Indonesian regulations.

                INDODAX may be suitable for various trading groups due to its wide range of available cryptocurrencies and user-friendly trading platform. Here are some potential target groups and recommendations:

                1. Beginner Traders: INDODAX's user-friendly trading platform makes it a suitable choice for beginner traders who are new to cryptocurrency trading. The platform's ease of use and educational resources can help them understand the basics of trading and make their first trades with confidence.

                2. Experienced Traders: Experienced traders can benefit from INDODAX's wide range of cryptocurrencies available for trading. The variety allows them to diversify their trading portfolio and take advantage of different market opportunities. The platform's trading tools and features can also support their trading strategies.

                3. Indonesian Investors: INDODAX's regulatory status and presence in Indonesia make it a suitable choice for Indonesian investors who prefer to use a local exchange. The availability of local bank transfer options can make depositing and withdrawing funds more convenient for them.

                It is important for individuals in these target groups to conduct their own research and assess whether INDODAX meets their specific trading needs and preferences. Considering factors such as security, fees, and customer support can also help them make an informed decision about whether INDODAX is suitable for their trading activities.

                Conclusion

                In conclusion, INDODAX is a virtual currency exchange that implements security measures such as two-factor authentication and withdrawal confirmations via email to protect user accounts and funds. Users have reported positive experiences with the ease of use and variety of cryptocurrencies available for trading. INDODAX offers a wide range of cryptocurrencies for trading and supports various deposit and withdrawal methods. It provides educational resources to enhance users' knowledge of virtual currency trading.

                However, it is essential for users to conduct their own research, remain vigilant, and follow best practices to ensure the safety of their accounts and funds when using INDODAX or any virtual currency exchange.

                FAQs

                Q: What cryptocurrencies are available on INDODAX?

                A: INDODAX offers various cryptocurrencies for trading, including Bitcoin, Ethereum, Ripple, and Bitcoin Cash, among others.

                Q: How can I open an account on INDODAX?

                A: To open an account on INDODAX, visit their website, complete the registration form with your personal information, create a secure password, agree to the terms and conditions, complete a captcha verification, and click “Register.”

                Q: What are the deposit and withdrawal methods on INDODAX?

                A: INDODAX supports bank transfers and cryptocurrency deposits/withdrawals. Bank transfers in Indonesian Rupiah (IDR) typically take 1-3 hours to process, while cryptocurrency deposits are usually instant.

                Q: How do I buy cryptocurrencies on INDODAX?

                A: To buy cryptocurrencies on INDODAX, ensure you have a balance in Rupiah (IDR) in your account, log in, select the digital asset you want to buy, choose your purchase method (limit or market order), fill in the required information, and execute the trade.

                Q: What are the fees on INDODAX?

                A: INDODAX charges a fixed fee of 0.0005 BTC for Bitcoin withdrawals and 0.005 ETH for Ethereum withdrawals. It also uses a maker/taker fee system, with makers incurring 0% fees and takers paying 0.3% for their transactions.

                Q: Is INDODAX a good exchange for me?

                A: INDODAX is suitable for various types of traders, including beginners, experienced traders, and Indonesian investors. It offers a user-friendly platform, diverse cryptocurrency options, and compliance with Indonesian regulations.

                Risk Warning

                Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.