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Indodax Cryptocurrency Exchange Review

7.8

CURRENCY VERITY

8.0/10

CUSTOMER FEEDBACK

7.5/10

CUSTOMER SUPPORT

8.0/10

DESIGN

7.5/10

Pros

  • Fast Exchange
  • Contacts 021-50525588

Cons

  • No Trading Pairs
  • No Live Chat

Indodax Cryptocurrency is a marketplace for buying and selling Bitcoin in Indonesia using the rupiah currency. You can also exchange Bitcoin to various crypto assets, such as Ethereum, Litecoin, Dogecoin, DASH, Ripple, Stellar, XEM, NXT, Bitshares and other crypto assets for free without any discount.

Indodax has close to 1.6 million registered users at the time of this review and it is quickly gaining popularity in the cryptocurrency community. It is particularly popular among Indonesians. This might be due to the fact that deposits of Indonesian Rupiah can be executed immediately. Withdrawals takes roughly one bank day. BTC-deposits and withdrawals, however, are both executed immediately.

About Indodax Cryptocurrency

INDODAX (formerly known as bitcoin.co.id) claims to be the largest marketplace platform to buy and sell digital assets (e.g. Bitcoin, Ethereum, Ripple) in Indonesia. As of Nov 2019, the exchange has more than 64 coins listed and 75 trading pairs. INDODAX claims to have more than 2 million registered members.

As a customer-centric company, Indodax.com aims to offer features that promote ease of use. The team claims that users can purchase digital assets with IDR within an hour. Indodax claims to be officially registered with the Commodity Futures Trading Regulatory Agency (BAPPEBTI) with the registration number: 002/BAPPEBTI/CP-AK/01/2020.

ExchangeDetails
Exchange NameIndodax Cryptocurrency
Exchange TypeCryptocurrency
LanguageEnglish
 Trading PairsN/A
 Websitehttps://indodax.com/
Support24/7
 Social SupportTwitter
 Alexa Rank5915
 Top CountryIndia

How To Sign Up & Start Trading

You Sign Up For A User Account By Providing Basic Information.

On Every Exchange You Will Get Option For Sign Up Or Create Account . Just Fill Some Basic Details Like Name , Email , Password , Security Question Etc For Registration . It Is First Step To Start Trading On Any Exchange

You Then Receive An E-mail In Your Mailbox To Activate Your Account.

Before You Can Login, You Must Active Your Account With The Code Sent To Your Email Address.Then You Will See A Message That Your Financial Account Is Activated And Ready To Go. This Means That You Can Log In And Start Trading In Cryptocurrency.

Identity Verification

For Successful Verification You Will Need Identity Documents. For Example, You Can Use A Driver’s License Or Passport, Where The Name Is Duplicated In Latin Letters.Confirmation Of Identity On Exchange Is An Optional Step. The Procedure Must Be Completed Only If You Want To Remove The Restrictions Of Btc On Deposit Or Withdrawal Of Funds Per Day.

Enable 2-Factor Authentication (2FA)

When you log certain the primary time, a pop-up will show up and ask you to enable the 2FA, which can help in increasing your account security. If you’re new 2FA, you’ll got to download the Google Authenticator  app then scan the QR (or enter the key key) so as to urge a 1-minute changing code.

After completing these three steps, you’re through with fixing your account.

Deposit Fees

  • 1% deposit fee will be charged when making a deposit through a counter / branch office. With a maximum fee of IDR 1,000,000
  • Online Deposit fees are not charged from Indodax. But, different fees will be charged when using the Virtual Account method.
  • 0.5% withdrawal fee is calculated from withdrawal amount. With the minimum withdrawal fee of IDR 25,000.

Indodax Withdrawal fees

The exchange charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This fee is below the industry average and thus constitutes a strong competitive advantage against the majority of other top crypto exchanges in the market.

Asset NameDepositWithdrawBuy/Sell with USDT
BitcoinFree0,0005 BTCNot Available
TokenomyFree1 TENMaker 0%, Taker 0.3%
The AbyssFree100 ABYSSNot Available
AchainFree1 ACTNot Available
CardanoFree1 ADANot Available
AuroraFree100 AOANot Available
Cosmos (Atom)Free0,005 ATOMNot Available
Basic Attention TokenFree5 BATNot Available
Bitcoin DiamondFree0.0005 BCDNot Available
Bitcoin CashFree0.0005 BCHNot Available
Bitcoin SVFree0.0005 BSVNot Available
BNBFree0,01 BNBNot Available
Bitcoin GoldFree0,0005 BTGNot Available
BitSharesFree1 BTSNot Available
BitTorrentFree100 BTTNot Available
CoalculusFree10 COALNot Available
CotiFree15 COTINot Available
Crypto.com ChainFree50 CRONot Available
DADFree3 DADNot Available
Multi-collateral DAIFree1 DAINot Available
DAEXFree20 DAXNot Available
DASHFree0.002 DASHNot Available
Digix Gold TokenFree0,02 DGXNot Available
DogeCoinFree5 DOGENot Available
EminerFree150 EMNot Available
EOSFree0,1 EOSNot Available
EthereumFree0.005 ETHNot Available

Trading Fee

  • Market Taker / Instant / Stop Order: method will be charged 0.3% fee of the number of transactions
  • Market Maker / Limit: does not have to pay for the trading fee (0% fee) in buying and selling activity.

*Please visit this page for further information about market taker/instantstop order and market maker / limit.

Download the Indodax application now!

Get the latest market updates, interactions with fellow traders, and all information about your crypto assets at your fingertips. Trading is easier, faster, and safer with the Indodax mobile application.

Support

The support of this exchange is open 24/7. They are allegedly even open during holidays, so if you need to do some important crypto-errand during Christmas or Thanksgiving, don’t worry. Indodax has got your back. As a few other advantages, the exchange states that they focus on security, simplicity and speed. These are all aspects that most cryptocurrency traders find important in their choice of trading platform.

Why Choose Indodax Cryptocurrency

Multiple Layer of Security

Security will always be a top priority in every decision we make, and we incorporate multiple layers of protection, using the most reliable and effective security (E-mail and SMS verification with Google Authenticator) technologies to keep your funds secure.

Simplicity

Enjoy the most efficient way to do transaction and trading with our platform on the website also mobile phone. Access is available within one single app! This app is available for Android and iOS user. To Download click on the button below!

Efficient

Deposits and withdrawal will proceed only in one working day! Indodax will ensure every procedure running immediately and secure.

24/7 Customer Service

With 24/7 customer service, we are gladly assist you anywhere and anytime. Please, hit the live-chat button bellow or send us an e-mail to [email protected] if you have any questions regarding digital assets.


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