Indodax exchange review
Indodax is a centralized exchange that occupies #98 on Guru InvestingExchange Tracker. Indodax has trading volume US$16,336,589 in the last 24 hours and US$4,383,978,159 in the last 7 days.
Currently Indodax has 333 cryptocurrencies, 1 paper currencies and 337 markets (cryptocurrency trading pairs). The most popular trading pair on Indodax is USDT/IDR.
Compare Indodax next to other exchanges here: Exchange comparison tool.
Indodax is an Indonesian centralized cryptocurrency exchange (CEX). Formerly known as Bitcoin Indonesiait counts one of the largest bitcoin exchanges in the country. Cryptocurrency exchange Indodax offers spot, derivatives and over-the-counter (OTC) trading.
Indodax is KYC compliant and requires users to verify their identity before accessing financial services. It is available in more than 80 countries. Services are available only to citizens of several countries, including Belarus, Russia and the United States.
Markets
Indodax is adjustable platformThis means that it lists fewer digital assets compared to other exchanges. In total, there are more than 240 Indodax trading pairs and more than 230 assets registered on the list.
The Indodax spot market supports both crypto-to-crypto and crypto-to-fiat transactions. Indonesian Rupiah (IDR) — the main fiat currency on the platform. Additionally, stablecoins such as Tether (USDT) listed.
Eat four main markets on the Indodax crypto exchange:
- IDR
- USDT
- Derivatives
- Stablecoins
- DeFi
The derivatives market rules perpetual futures contracts. Listed Indonax trading pairs for futures traders: With IDR and USDT margin. Clients can trade on the derivatives market using leverage up to 3x.
Users who need to process larger trades can join the highly liquid over-the-counter (OTC) trading service. The minimum Indodax volume required for OTC transactions is IDR 1 billion. Customers who require over-the-counter services can receive a personalized offer based on their needs.
Indodax exchange fee is fixed at 0.51% for instant trading. Due to strict regulations in Indonesia, many of the listed assets cannot be bought or sold using USDT. There are no commissions charged to market makers.
All cryptocurrency deposits on the exchange are free. Some assets, including Bitcoin (BTC), Cardano (ADA)And Ethereum (ETH)have a fixed price for the Indodax cryptocurrency, which must be paid for each withdrawal. Otherwise, withdrawal fees are dynamic and dependent on factors such as market conditions and network congestion.
Users wishing to deposit Indonesian Rupiah into the exchange may be subject to additional Indodax cryptocurrency fees. Deposits made through bank branches are subject to a 1% fee. The maximum commission amount cannot exceed IDR 1 million. Digital wallet deposits may be subject to dynamic fees.
About company
Cryptocurrency exchange Indodax was founded as Bitcoin Indonesia To Oscar Darmawan and William Sutanto in February 2014. In 2018, the company rebranded to Indodax. The headquarters is located in Jakarta, Indonesia.
Although Indodax is one of the oldest cryptocurrency exchanges in Indonesia, it only received its regulatory license in 2020. Officially licensed by the Commodity Futures Trading Regulatory Agency of Indonesia (BAPPEBTI).
In February 2022, after the 8th anniversary of the Indodax crypto exchange, it was reported that the platform over 5 million registered users. Indodax’s average monthly trading volume exceeds 3 trillion Indonesian rupiah.
Oscar Darmawan is the CEO of the cryptocurrency exchange Indodax. He is an entrepreneur and author on the history of Bitcoin. Prior to founding Indodax, Darmawan was the Managing Director of PT Bumi IntermediaPT, an IT consulting company in Southeast Asia.
William Sutanto is the CTO of Indodax. Previously, he was Director of Operations at one of Indonesia’s largest business communities, PT. Lingkar MediaPT Advertisement. Along with Darmawan, Sutanto worked at PT Bumi IntermediaPT as chief financial officer and technology director before founding the cryptocurrency exchange Indodax.
Indodax related pages
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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.
