Best Crypto Exchanges in Indonesia
Explore our expert analysis on the best crypto exchanges in Indonesia, tailored for safe and regulated investment opportunities.
Summary: Indonesia is quickly growing as a centre for cryptocurrency in Asia, supported by regulatory guidance from the Financial Services Authority of Indonesia (OJK). This oversight helps ensure that all crypto trading platforms are adhering to the necessary regulations, which boosts trader security. Indonesian investors can easily fund their trading accounts using Indonesian Rupiah through bank transfers, credit cards, and other payment methods.
For those new to digital currency trading, we've analyzed various platforms in Indonesia and shortlisted the top 5 cryptocurrency exchanges:
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Best Cryptocurrency Exchanges in Indonesia
After assessing 26 digital currency exchanges accessible in Indonesia, we've discovered the leading options for Indonesian investors. Our selection process focused on compliance with the Indonesian Financial Services Authority (OJK), selection of cryptocurrencies, pricing structure, Indonesian Rupiah (IDR) deposit methods, and available features. This comparison table of the top 5 crypto investment platforms provides an insight into their offerings.
1. Bybit
Bybit is the best platform for cryptocurrency trading in Indonesia, serving over 28 million registered users worldwide. Due to its international reach, it can be used in 30 languages, including Bahasa Indonesian. It provides access to over 1,100 digital assets to buy and trade on spot, futures and options markets with up to 100x leverage on select contracts. The exchange also supports Indonesian Rupiah (IDR) deposits through several local methods like Mandiri Pay.
Besides trading, Bybit has an extensive range of features, such as staking options, lending and following services, a crypto Visa card, an NFT marketplace, copy trading services, a demo account and a Launchpad feature. This versatility is ideal for a variety of investment strategies. It also maintains a competitive fee structure, featuring a maker fee of 0.02% and a taker fee of 0.055%, which is significantly lower than the industry average.
- Fees: Maker fee at 0.02% and taker fee at 0.055%.
- Supported Cryptocurrencies: Provides access to over 1,100 digital assets.
- Regulation & Licensing: Registered in several jurisdictions and provides services in Indonesia.
- IDR Deposit Methods: Bank transfers, credit cards, debit cards, Mandiri Pay, BCA Mobile, SEA Bank, NEO, and other local options.
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2. MEXC
MEXC is a cryptocurrency exchange focusing on derivatives trading, featuring an extensive collection of over 800 crypto assets with leverage reaching up to 200x. This aspect is especially appealing to traders seeking advanced trading opportunities. With licensing in Estonia and headquarters in Seychelles, MEXC upholds stringent regulatory standards worldwide, and is accessible from Indonesia.
The exchange caters to a wide range of trading needs with services such as spot and margin trading, staking, and Initial Exchange Offerings (IEOs). Its capability to handle more than $2 billion in daily trading volume demonstrates a strong commitment to market responsiveness and user security. MEXC's broad range of responsive customer support, favorable fee structure, and focus on user experience enhancement make it a great option.
- Fees: Maker fees from 0.02% to 0.06% and taker fees between 0.06% and 0.08%.
- Supported Assets: Features over 800 cryptocurrencies.
- Regulation & Licensing: Operates under an Estonian license but can be accessed from Indonesia.
- IDR Deposit Methods: Bank transfers and debit or credit cards.
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3. Gate.io
Gate.io is one of the largest cryptocurrency exchanges in the world and a favourite among Indonesian investors. This platform distinguishes itself from other options with an impressive range of over 1,700 cryptocurrencies, giving users the ability to diversify their portfolios with popular stablecoins or altcoins. Boasting a daily trading volume exceeding $5 billion and a community of over 14 million users, Gate.io has a significant portion of the global crypto market.
The exchange enhances trading experiences with unique offerings such as trading bots, copy trading services and leverage options up to 100x on both futures and options markets. In addition to trading, it has an NFT marketplace, a crypto debit card, DCA investing, staking services, crypto loans, a start-up feature and parachain auctions. Gate.io also provides a multilingual interface, which is available in Indonesian.
- Fees: 0.1% for maker orders and 0.2% for taker orders.
- Supported Cryptocurrencies: Boasts over 1,700 digital assets.
- Regulation & Licensing: Operates internationally with a base in Seychelles, ensuring a broad reach without direct Indonesian licensing but remains accessible to local users.
- IDR Deposit Methods: Local bank transfers and credit cards.
4. Binance
Binance is the largest cryptocurrency trading platform in the world with over 180 million users in Indonesia and 100 other countries. It can be used in 40 languages, including Indonesian, and provides live customer support in Bahasa. The exchange has an extensive range of 350 cryptocurrencies which can be traded on spot or futures markets with leverage up to 50x available. Binance also provides real-time market analytics and advanced risk management tools, including stop losses.
It also supports diverse features like staking and savings options that offer avenues for passive income, crypto loans that allow users to lend and borrow assets from the platform, a Launchpad and Launchpool and more. Binance is considered one of the most secure exchanges globally and is registered with several global regulators, providing a safe and global investment environment.
- Fees: Spot trading fees start at 0.1%, the maker/taker rebate begins at 0.02% and 0.07%.
- Supported Assets: Features over 350 cryptocurrencies.
- Regulation & Licensing: While it operates globally with extensive licensing, Binance ensures accessibility to Indonesian investors without direct local regulation.
- IDR Deposit Methods: Bank transfer, credit or debit card, or Apple Pay.
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5. Pintu
Pintu is a local exchange tailored for specifically for Indonesian investors, it is a great choice for those seeking simplicity and safety in crypto investing. Starting from an accessible entry point of just Rp 11,000, Pintu opens the door to the cryptocurrency world for beginners and experienced traders. It provides a simple interface supported in Bahasa and English, regulatory compliance, security, and education through its Academy feature.
Registered and licensed by BAPPEBTI, Pintu assures users of its commitment to security, supported by multi-layered security measures including biometric identification and two-factor authentication. Offering a selection of 150 digital assets, it caters to a broad audience with over 4.9 million installs and high ratings on both the Apple and Google Play app stores, reflecting its popularity and trustworthiness among Indonesian investors.
- Fees: 1% spread, and a flat Rp 4,500 for Rupiah withdrawals.
- Supported Assets: Offers over 150 cryptocurrencies.
- Regulation & Licensing: Fully registered and overseen by BAPPEBTI and KOMINFOt.
- IDR Deposit Methods: Bank transfers and e-wallets.
Is Crypto Regulated in Indonesia?
Yes, cryptocurrency is regulated in Indonesia, reflecting the country's proactive approach to the rapidly evolving digital currency landscape. On July 20, 2023, Indonesia took significant steps by officially establishing a crypto exchange, clearinghouse, and crypto asset storage manager, enhancing legal certainty and investor protection. This development followed the expansion of the tradable cryptocurrencies list to 501 in June 2023, demonstrating Indonesia's commitment to facilitating digital currency use within its financial system.
Regulatory oversight of cryptocurrencies in Indonesia is transitioning, with existing laws being adapted to accommodate the new asset class. Currently, cryptocurrencies are traded like commodities, under the regulatory oversight of the Commodity Futures Trading Regulatory Agency (Bappebti). However, a new law enacted in 2023 outlines the transfer of regulatory authority from Bappebti to the Financial Services Authority (OJK) by January 2025, indicating a future where cryptocurrencies may be treated as securities.
How is Crypto Taxed in Indonesia?
Cryptocurrency transactions are taxed under the authority of the Directorate General of Taxes, part of the Ministry of Finance, as per Finance Minister Regulation (PMK) No. 68/PMK.03/2022. Investors engaging in crypto transactions on exchanges registered with Bappebti are subject to a Value Added Tax (VAT) of 0.11% and an Income Tax (PPh) of 0.1% on the transaction value.
For transactions on exchanges not registered with Bappebti, these rates double to 0.22% for VAT and 0.2% for Income Tax. These taxes are handled by the exchanges, simplifying compliance for investors, who must still report their crypto holdings in their Annual Tax Return.
Bottom Line
To conclude, Indonesia's cryptocurrency scene is developing at a rapid pace, backed by clear regulatory frameworks set by the OJK and other relevant bodies. The top five digital asset exchanges in Indonesia, Bybit, MEXC, Gate.io, Binance, and Pintu provide valuable and reliable investment platforms for local investors. Each one offers distinct advantages, from Bybit's wide asset selection and competitive fees to Pintu's commitment to local service and security.
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