Best Bitcoin Exchanges in Indonesia

The best way to buy Bitcoin or other Cryptocurrency is via exchanges. Although Indonesia does not recognise any Cryptocurrency yet as legal tender there are different options for you to buy. 

There are 2 different types of exchanges: 

  • Fiat money to Cryptocurrency: IDR,USD or EUR to BTC. They allow a direct purchase with government approved legal tender to buy Cryptocurrency.
  • Cryptocurrency to Cryptocurrency: Bitcoin to other cryptocurrencies. These exchanges only allow cryptocurrencies to be traded between each other.

We’ll cover the most popular and user friendly crypto exchanges. Below we have listed to best crypto exchange options for people in Indonesia. 

 

Tips for Cryptocurrency Exchanges

Buying Bitcoin or other Cryptocurrency from exchanges can be complicated if it is your first time. Here are a few tips

  • Most of the exchanges require an identification process KYC (= Know Your Customer) to buy cryptocurrencies. Have a valid passport or ID card ready to upload to verify your account.
  • If you are sending funds from a bank account to buy crypto, The name of the holder of the bank account needs to be the same as the name of the crypto account. Otherwise your fund transfer will not be accepted!
  • We recommend NOT to store your Bitcoin or Cryptocurrency on the exchanges. The best security for your cryptocurrency is a crypto hardware wallet!
  • When you send your cryptocurrency out of the exchange double check your Public Key address.
  • Security: Protect your account by saving your password on a password manager like LastPass and add a 2FA – Authorisation like Google Authenticator or Authy.

The largest Crypto exchange in Indonesia

Indodax is by far the biggest and best exchange to buy bitcoin and other cryptocurrency in Indonesia. Established in 2014, Indodax (used to be bitcoin.co.id) is the pioneer for crypto in Indonesia with almost 2,000,000 users from all over Southeast Asia. Via this crypto exchange platform you can buy Bitcoin and cryptocurrency with Indonesia Rupiah via bank transfer of all the major banks such as BNI, Mandiri etc. 

Why buy Bitcoin with Indodax?

There is good a reason why Indodax is the biggest platform in Indonesia to buy Bitcoin. 

  • Security: They have a very strong security via SMS PIN verification, Google Authenticator and make you personally validate every transaction as an extra safety. In 6 years they have never been hacked!

  • Simplicity: They have created an easy-to-use platform for PC, tablet or phone through one account to have a clear oversight of your crypto finances.

  • Instant: Deposits and withdrawals are very fast and are processed within the day.

  • Customer Service: 24/7 support via chat or email 

How to buy Bitcoin with Bank Transfer

Setup your Bitcoin account

First you’ll need to register yourself at Indodax and create an account. They will ask to verify your identity with the following information

  • Verify email adres
  • Verify Phone Number
  • Verify with your KTP or International Passport

Don’t worry, the verification does not take long and your account will be up and running in no time!

Do not forget your basic security measures and install your 2FA-authorisation with Google Authenticator or Authy app!

 

bitcoin indodax

Deposit your Indonesian Rupiah

Now that your account is setup and ready to go we need to add funds to our account to buy Bitcoin. On the left side column you will see the Bitcoin Icon with ‘Wallet‘. After clicking you will see a list of cryptocurrencies with at the top Indonesian Rupiah – Deposit/Withdrawal Button.

Next step you will have to choose which method you want use to deposit. As you can see in the image. Bank transfer is by far the easiest way to transfer. You can choose between 3 different banks to transfer to either to their virtual account or via ATM Banking.

  • Mandiri Account
  • BNI Account
  • Maybank Account
 
You can transfer your funds from the following bank accounts, Cash or OVO:
  • BCA Bank
  • Mandiri
  • BNI Bank
  • BRI Bank
  • CIMB Niaga
  • Cash
  • OVO
 
Make sure that your transfer comes from a bank account with the same name as your account identification! Otherwise your transfer will be declined.
If you send funds from the same bank as the virtual bank account your deposit will arrive almost instantly. Then it’s time to buy Bitcoin!
 
 

1. Click Wallet

buy bitcoin

2. Click Deposit/Withdraw

buy bitcoin

3. Choose how to fund

4. Choose Method

Buy Bitcoin Instantly

The easiest way to buy Bitcoin on the website is via the ‘Buy/Sell Bitcoin Instantly‘ Button on the left side menu. You can buy the amount of Bitcoin you want with the funds you have put on your account at the market price + a small fee. 

Here we have an example buying Bitcoin for 50.000 IDR. In just a couple of clicks you have your Bitcoin!

Do NOT leave your Bitcoin on the platform unless you want to trade for another cryptocurrency. The safest way to store your Bitcoin is on a Bitcoin hardware wallet. 

3. Confirm Purchase

buy bitcoin indonesia

4. New Bitcoin Balance

buy bitcoin indonesia

1. Click Buy Bitcoin

buy bitcoin indonesia

2. Fill in amount IDR

buy bitcoin indonesia

Send Bitcoin to Hardware Wallet

The safest place to store your Bitcoin and cryptocurrency is on a hardware wallet like the Trezor Model T or Ledger Nano X. If you decide later to sell your Bitcoin you can always send your Bitcoin back to Indodax, sell it and withdraw your Indonesian Rupiah via bank transfer.

Here we show how to send your Bitcoin from Indodax to your hardware wallet. 

1. You will need to get your Public Key first from your Bitcoin hard wallet. In the picture is an example of a public key on the Trezor hard wallet. Make sure your Public Key is correct!

2. Click Back on the ‘Wallet‘ button on the left side menu and click on the ‘Deposit/Withdraw‘ button for Bitcoin. Then you will see a screen asking how much Bitcoin you want to send and to which Bitcoin Address (= your public key). They also ask to fill in your 2FA code as an extra safety.

3. Indodax will send you an email to ask to confirm your withdrawal.

1. Get Bitcoin Public Key

bitcoin public key

1. Send and Confirm

send bitcoin indonesia

Coinmama is a reputable Cryptocurrency Exchange established in 2013 and is  established in Slovakia. The platform has more than 1,300,000 active users globally. On this cryptocurrency exchange you can buy Bitcoin and other cryptocurrencies with credit card, SEPA wire or SWIFT transfer. Unfortunately they only accept credit card purchase from Indonesian citizens.

The platform does not have a wallet like Indodax where you can store your cryptocurrency. You should have a cryptocurrency hardware wallet before purchasing Bitcoin to send your coins to.

Why buy Bitcoin with Coinmama?

Coinmama is a runner up to Indodax for people wanting to buy Bitcoin in Indonesia

  • Security: Their security is strong with all the necessary precautions taken place such as SMS PIN verification, 2FA authorisation.

  • Easy to use: Straightforward platform for non-technical people to buy Bitcoin and cryptocurrency

  • Instant: Verification procedure of your account within the hour. Deposits and withdrawals are very fast and are processed within the day.

  • Customer Service: 24/7 support via chat or email 

How to buy Bitcoin with Credit Card

Setup your Bitcoin account

First you’ll need to register yourself at Coinmama and create an account. They will ask to verify your identity with the following information

  • Verify email adres
  • Verify Phone Number
  • Verify with your KTP , International Passport or Drivers license

The verification takes only one hour and then you can start to buy Bitcoin straight away!

Do not forget your basic security measures and install your 2FA-authorisation with Google Authenticator or Authy app!

 

Buy Bitcoin with Credit Card on Coinmama

Coinmama does not have a wallet inside the platform like Indodax.  You should have a Bitcoin hardware wallet with the wallet address ready when you buy Bitcoin from this platform. Start at the right top corner and click ‘Buy’

  1. You can choose preset amount of Bitcoin you want to buy or choose the amount yourself.

  2. Enter the wallet address of your hardware wallet. Double check if the address is correct!
  3. Choose credit card as the option. There is a 5% fee on credit card purchases

  4. Fill in your credit card details to confirm your bitcoin purchase! 

3. Choose Payment Method

payment method bitcoin indonesia

Fill in Credit Card details

credit card bitcoin

1. Choose Buy Bitcoin

buy bitcoin creditcard

2. Enter Wallet Address

Coinmama cryptocurrency address