Reku Exchange Review
Reku is a centralized exchange that occupies #168 on Guru InvestingExchange Tracker. Reku has a trading volume US$10,279,050 in the last 24 hours and US$2,997,936,340 in the last 7 days.
The river currently has 51 cryptocurrencies, 1 paper currencies and 50 markets (cryptocurrency trading pairs). The most popular trading pair on Reku is USDT/IDR.
Compare river next to other exchanges here: Exchange comparison tool.
Cryptocurrency exchange Reku launched as Crypto exchange Rekeningku.com in 2017. In October 2022, the exchange was renamed Reku after the injection Series A investment funds of $11 million or Rs 163 billion from AC Ventures, Coinbase Ventures and Skystar Capital. The platform is designed for Indonesian cryptocurrency investors and traders and accepts Indonesian rupiah as the only fiat currency on the platform.
The platform is currently limited to the Indonesian market, so all users must be either Indonesian or reside in Indonesia. They should also be comfortable using the IDR for trading. How much KYC The requirements require all users to verify their identity using email addresses, phone numbers, utility bills, government-issued identification, and selfies. All this is designed to prevent attackers from gaining access to the platform and carrying out fraudulent and malicious activities.
Markets
The main market available on the platform is IDR market. Thus, the Reku cryptocurrency exchange is primarily fiat-crypto and crypto-fiat platform. Eat 41 Reku trading pairs at the time of writing this article. The platform does not support margin trading or leverage trading, but this may change in the future as Reku trading volume increases. At the moment, spot Reku is the only trading option available.
There are several ways to deposit IDR into Reku, for example: bank transfers, virtual accounts and e-wallets (OVO, Shopee Pay and DANA). Deposits in Indonesian Rupiah using e-wallets cost 1.65% of the total deposit amount. In terms of withdrawals, the minimum withdrawal amount on Reku is IDR 30,000 and the maximum limit is IDR 500,000,000 per day. Reku’s fee for IDR withdrawals is IDR 6,500.
The commission for trading the Reku cryptocurrency is 0.1% of the transaction amount on both platforms. creator and taker bargaining. Additionally, there is a minimum amount that can be exchanged in one transaction, which is IDR 30,000 per order. The price of Reku cryptocurrency for cryptocurrency withdrawal depends on the transferred crypto asset. However, transferring crypto assets to other users on the Reku platform is free.
About company
Founded the cryptocurrency exchange Reku Sumardi Fung. Fung has extensive experience in finance, futures trading and software development. Platform Compliant with Commodity Futures Trading Agency of Indonesia (BAPPEBTI) and emphasizes user security by allowing trading of well-established cryptocurrencies such as Bitcoin and Ethereum. The Reku cryptocurrency exchange earned $3 billion in transactions in 2021. Jessie Choi, a private investor with Bain Capital, is chief executive of Reku. Jesse is a technology veteran who brings a wealth of experience to the expansion of the platform.
In December 2022, Reku’s 24-hour volume was around $11 million. This was equivalent to 719 BTC.
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A cryptocurrency exchange is an online platform where you can buy, sell, or trade cryptocurrencies like Bitcoin, Ethereum, and others.
Safety varies by exchange. Look for platforms with strong security measures, like two-factor authentication and cold storage for funds.
Consider factors like security, fees, available coins, user interface, and customer support.
Centralized exchanges are managed by a company, while decentralized exchanges operate without a central authority.
Many exchanges require Know Your Customer (KYC) verification for security and regulatory compliance.
Trading fees vary but typically include maker fees (for adding liquidity) and taker fees (for removing liquidity).
Yes, most exchanges offer cryptocurrency-to-cryptocurrency trading pairs.
Withdrawal times depend on the exchange and the cryptocurrency. Some are instant, while others may take hours or even days.
A wallet address is like a bank account number for cryptocurrencies. It’s required to send your crypto to the right place.
Yes, depending on your country’s tax laws, trading cryptocurrencies may have tax consequences. Consult a tax professional for guidance.
Yes, many cryptocurrency exchanges operate 24/7, allowing you to trade at any time.
A market order buys or sells at the current market price, while a limit order sets a specific price at which you want to buy or sell.
Yes, each exchange sets its own minimum and maximum trading limits, which can vary widely.
It’s not recommended. For security, it’s better to use a cryptocurrency wallet, especially for significant holdings.
Exchanges typically have account recovery processes, including password reset options and support for forgotten usernames.
Some exchanges offer insurance, but coverage can be limited. It’s essential to check an exchange’s insurance policy.
Use strong passwords, enable two-factor authentication, and be cautious of phishing scams and suspicious emails.
Yes, but it’s recommended to learn the basics of trading and understand the risks involved before you start.
Stablecoins are cryptocurrencies pegged to the value of a fiat currency like the US dollar. They provide stability and are commonly used for trading and transferring funds on exchanges.
Yes, regulations vary by country. Many countries have implemented or are considering regulations to govern cryptocurrency exchanges for consumer protection and financial stability.
