Indonesia’s largest crypto assets marketplace Indodax was founded around 2014, it was known as Bitcoin Indonesia then changed its name in 2018. With more than 5 million users, Indonesia’s online exchange platform stands as a reliable and perfect place to trade Bitcoin, Ethereum, Ripple, and many more with the Country’s currency Rupiah; The website assures potential users and beginners of a hassle-free, secure, fast and easy interface. Most of its users are from Indonesia, but it is getting recognition among the crypto community.
Features of Indodax
The following are the features of Indonax:
User interface
The interface provides a very unique, user-friendly, and hassle-free platform for its users either beginners or professionals. There is a live chart featured for the members to read the volatility within any specified time.
Indodax affiliate program
Users can refer to their friends on the platform through the affiliate program. The user gets a 25% commission from the referral’s trade fee for the next 3 months.
Security
The security measures offered by the exchange are excellent, this includes employing the 2FA (two-factor authentication), also email and SMS verification. This is to ensure that apart from the user, others are restricted from transactions.
Indodax mobile app
The exchange mobile application is optimized for those who prefer to trade on the go. There are two apps provided in the google play store and apple store for the users to download.
Customer support
Indodax support team is responsive, they can be reached through direct phone call or email regarding any issue, questions, critics, or suggestions.
Registration
- Search for the official website, click on the register
- Enter username, email address, and phone number and select a strong password
- An SMS verification code will be sent to your phone number, enter the code to the box provided for it
- You will be redirected to your account
- Go to the verification page on the sidebar menu and complete the registration.
Indodax fees
Fees are an important consideration in any exchange, Indodax fees are impressive, they offer to trade between cryptocurrencies at a 0.00% rate. For trading between cryptocurrencies and fiat currencies, the fee is 0.30%, though for makers it is free (0.00%). This makes free trading for makers competitive.
Withdrawal fee
The withdrawal fee charged by the exchange amounts to 0.0005 BTC, this makes the platform a strong competitive advantage over other top crypto exchanges.
Deposit method
Indodax accepts deposits of fiat currencies, it offers wire transfer as a deposit method, and credit cards are not permitted as to deposit method.
Indodax security
The exchange platform is known for its remarkable security features, making each account subject to other types of protection. This includes 2FA (two-factor authentication), and email and SMS verification.
Pros
- Most cryptocurrencies and tokens can be exchanged or traded with Indonesia Rupiah
- Cold storage of cash, 2FA (two-factor authentication), and high-level user information security
- The trading terminal and mobile application are convenient and have an intuitive interface
- The platform’s speed, trading volume, and 24/7 operation are excellent.
- Technical help is responsive and multi-channeled; you can contact or email the customer care team.
- The trading commission is modest, with no deposit fees and particular costs
- The platform’s functioning is licensed by the national regulatory board
Cons
- The platform does not have demo accounts or tutorial videos for newbies or beginners
- Indonesia Rupiah is the only fiat currency accepted (IDR)
