Best Crypto Exchange in Indonesia

With a presence in over 160 countries, Bybit is renowned for its strength in derivatives trading, which is why it's included in many "Best crypto exchange in Indonesia" lists.

However, despite its worldwide reach, it's important to note that Bybit operates in regulatory uncertainty in many jurisdictions, including Indonesia. Not because the platform isn’t reliable, but because regulations regarding cryptocurrency trading are still scarce in the country.

When it comes to derivative trading, Bybit excels. It offers impressive leverage of up to 100x for BTC and ETH trading pairs.

The availability of high leverage provides traders with the opportunity to access larger positions than their initial funds would typically allow. It’s valid to point out, though, that derivatives trading and high leverage are best suited for experienced traders due to their inherent risks.

Nonetheless, Bybit caters to a diverse audience, offering more than just derivatives trading. It provides spot trading, various earning programs like Bybit Savings and Liquidity Mining, a peer-to-peer exchange, copy trading tools, and much more.

Bybit's fee structure is tiered, based on factors such as asset balance, monthly trade volume, and monthly average net borrowing. Fees for spot trading range from 0.1% to 0.005%, while derivatives trading fees vary from 0.055% to 0%.

Regarding fiat currencies, Bybit's Indonesian Rupiah support is limited. While it offers a One-Click Buy feature that allows users to buy cryptocurrencies using IDR, direct deposits of IDR into user accounts are not available. However, Bybit's One-Click Buy feature grants users flexibility in payment methods, including Wise and bank deposits.

Despite operating in a regulatory grey area in many regions (including Indonesia), Bybit places a strong emphasis on safeguarding user assets and information. The exchange applies stringent security measures, such as two-factor authentication. Besides, the majority of users' cryptocurrency assets are stored offline in cold wallets, minimizing exposure to potential hacks or breaches.

Additionally, Bybit goes the extra mile by providing insurance coverage to further protect users' funds, offering peace of mind in the event of unforeseen circumstances. While regulatory compliance is a complex issue, Bybit's dedication to security ensures that user assets remain a top priority.

Ultimately, Bybit is not only a powerhouse in derivatives trading but also a true crypto hub, making it a significant player in Indonesia's crypto exchange landscape.

In the realm of cryptocurrency exchanges, Binance emerges among the best crypto exchanges Indonesia supports. The platform is undoubtedly a global titan, and it carries the same banner in Indonesia.

Do note that in 2022, Binance also acquired a controlling stake in the Indonesian crypto exchange Tokocrypto. The latter operates in accordance with Indonesian regulations, which is crucial for ensuring the platform's security and trustworthiness. Bappebti has granted the exchange a Registration of Trader Candidate on 21 November 2019.

This only highlights Binance's goal to spread crypto adoption all around the world.

Now, let's get back to the Binance exchange, which offers an extensive range of features, competitive fee structures, and robust security measures to cater to the diverse needs of Indonesian traders.

For starters, Binance provides a wide spectrum of trading options, making it accessible to various types of traders. This includes spot trading, P2P trading, OTC trading, swap farming, futures trading, and more.

Additionally, if you’re seeking earning features, the Binance Earn program presents an opportunity to do that. It includes tools such as Simple Earn, Auto-Invest, ETH staking, BNB Vault, and Binance Pool. Though, Binance also provides many more features, like an NFT marketplace, a fan token platform, trading bots, and so on.

It's also worth noting that the platform supports the Indonesian Rupiah (IDR), enabling users to easily buy crypto with IDR. This can be done via both – the Binance P2P platform and the quick crypto on- / off-ramp. Besides, you can even access the Binance platform in the Indonesian language.

As for the cryptocurrencies, Binance supports over 500 assets, including the market leaders like Bitcoin and Ethereum, as well as some of the less-known crypto assets.

When it comes to security, Binance employs stringent security protocols to safeguard user assets and data, including robust encryption techniques, 2FA, and continuous monitoring to detect and prevent suspicious activities.

In terms of spot trading fees, Binance operates on a maker / taker fee model. Maker fees range from 0.1% to 0.012%, while taker fees vary from 0.1% to 0.024%. An enticing feature of Binance is the opportunity to further reduce these fees by using BNB to cover transaction costs, granting traders a valuable 25% discount.

All in all, Binance is one of the top crypto exchanges in Indonesia. It's safe to use, supports Indonesian currency, offers various trading features, and has competitive fees, making it a great choice for Indonesian crypto traders.

It’s impossible to talk about the best crypto exchanges Indonesians can use without mentioning Coinbase.

While it originated in the United States, the exchange is available for traders in Indonesia, too. However, since it is a US-first crypto exchange, there might be some limitations for Indonesian traders.

Nevertheless, Coinbase provides a range of features that are designed to prioritize a secure and user-friendly environment for buying, selling, and managing digital assets. Also, the platform offers opportunities for users to earn rewards through staking, yield farming, and educational programs.

Additionally, Coinbase hosts a thriving NFT marketplace where users can explore, create, and purchase NFTs. It has become a vibrant community for NFT enthusiasts.

It supports over 240 cryptocurrencies, ensuring users have access to a diverse array of digital assets. The Indonesian Rupiah is also supported. Users can seamlessly purchase cryptocurrencies with IDR using their credit / debit cards or other payment methods.

Moreover, Coinbase facilitates the deposit and withdrawal of IDR into and from user accounts through bank transfers, offering a convenient way to access and manage funds. This is the case because it supports trading pairs with IDR.

The Coinbase fee structure is dynamic and calculated at the time of placement. Fees depend on various factors, including the chosen payment method, order size, and prevailing market conditions. However, do keep in mind that Coinbase is often associated with relatively higher fees compared to some other crypto exchanges Indonesians can access.

Last, but definitely not least, let’s talk about security. Coinbase employs robust security measures. For example, to safeguard against potential hacks or breaches, the majority of users' cryptocurrency assets are stored offline. The exchange also provides insurance coverage to further protect users' funds and employs 2FA.

To sum up, Coinbase's strong focus on security, user-friendly features, and IDR support makes it one of the top crypto exchanges in Indonesia.

When it comes to navigating the top crypto exchanges in Indonesia, Kraken is a notable name that has been operating since 2011. Originally founded in the UK, it has since expanded its services worldwide, making it a strong contender among the best crypto exchanges Indonesia currently supports.

The platform is renowned for its unwavering commitment to security. To ensure the safety of users' assets, Kraken employs a multi-layered approach that includes cutting-edge technology, robust protocols, and stringent KYC procedures.

Moreover, two-factor authentication adds an extra layer of protection to user accounts. Additionally, Kraken offers the option of using a global settings lock, enabling it to set additional security measures, such as withdrawal whitelists and session timeouts.

In terms of features, while some aspects may differ based on location, Kraken's offerings for Indonesian users are quite comprehensive. Traders in Indonesia can engage in various activities, including buying and selling cryptocurrencies using fiat, accessing spot trading features, and utilizing the educational Kraken platform.

Furthermore, Kraken offers advanced trading features such as various order types, over-the-counter (OTC) trading, and APIs for those who require more advanced trading options.

Now, regarding cryptocurrency support, Kraken offers over 200 different crypto assets to choose from, providing traders in Indonesia with a versatile platform to construct diverse cryptocurrency portfolios.

Although the platform doesn’t support the Indonesian Rupiah (IDR), it does allow Indonesian traders to use USD and offers a variety of ways to deposit it, including card payments and Apple / Google Pay.

Now, the fee structure of Kraken depends on the services utilized. When using the Instant Buy feature on the basic Kraken version fees can differ based on the cryptocurrency being purchased, the transaction amount, and the chosen payment method. For instance, a fee of 3.75% + 25 cents is imposed when using credit / debit cards or Apple / Google Pay.

In contrast, spot trading on the Kraken Pro version follows the maker / taker fee model. Fee rates are contingent on your monthly trading volume, denominated in USD. Maker fees can range from 0.16% to as low as 0%, while taker fees range from 0.26% to 0.1%. For those interested in margin trading, there's an opening fee of 0.02% and a rollover fee of 0.02%, paid every 4 hours.

Overall, Kraken is a good choice for cryptocurrency enthusiasts in Indonesia. However, do keep in mind that the platform is doesn’t support IDR, so you will need to deposit funds in USD or other crypto assets if you want to use it.

KuCoin is a renowned cryptocurrency exchange that has gained international recognition for its impressive range of services and affordable fees. It not only appears on lists that try to distinguish the best crypto exchange in Indonesia, but on various other country-specific and global lists, too.

If you’re a trader seeking a variety of crypto options, KuCoin certainly stands out. With over 700 cryptocurrencies available, from the most popular ones - like Bitcoin and Ethereum - to promising up-and-comers, it caters to the most diverse preferences.

Moreover, the platform accommodates various fiat currencies, including the Indonesian Rupiah, making it easy to purchase crypto with your local currency. You can deposit and withdraw IDR on KuCoin via bank transfers, credit / debit cards, and third-party payment providers.

Among its features, spot trading, margin trading, P2P trading, and derivatives trading, stand out as the most popular ones. Besides, KuCoin users also have the possibility of earning passive income by engaging in activities like lending or staking their cryptocurrencies.

Additionally, holding KuCoin Shares (KCS), KuCoin's native token, brings substantial benefits. KCS holders enjoy significant fee discounts on trades and access to additional rewards. The more KCS tokens you own, the more you save on trading fees.

Speaking of fees, the exchange employs the maker / taker fee structure for spot trading. Remarkably, maker fees can range from 0.1% to -0.005%, meaning high volume market makers can even receive a discount. Taker fees, on the other hand, range from 0.1% to 0.025%. Covering fees with KCS offers a 20% reduction on all spot trading fees.

Futures trading fees on KuCoin follow a similar model. However, there are no discounts for covering these fees with KCS. Maker fees can vary from 0.02% to -0.008%, while taker fees range from 0.06% to 0.025%.

Now, when it comes to security, KuCoin implements robust security measures. These include multi-layer encryption, multi-factor authentication, and secure micro-withdrawal wallets. The exchange also maintains specialized risk departments dedicated to monitoring data operations and security protocols.

On top of that, KuCoin adheres to regulatory requirements specific to the Indonesian cryptocurrency market. This commitment ensures that the exchange operates in compliance with local regulations, providing users with a secure and trustworthy platform.

In 2020, KuCoin obtained a license from Bappebti to operate in Indonesia. KuCoin also complies with the main crypto regulations, such as AML and CTF regulations, which help prevent the use of cryptocurrencies for illegal activities.

Overall, KuCoin is one of the leading choices for cryptocurrency enthusiasts in Indonesia due to its accessibility, strong security measures, diverse features, and extensive cryptocurrency support.

OKX is an innovative cryptocurrency exchange with advanced financial offerings. Founded in 2017, it serves millions of users across more than 180 regions worldwide and is one of the best crypto exchanges Indonesians can use.

The platform provides the latest trading services for a diverse range of crypto assets. These include the Express Buy feature, spot trading, the Liquid Marketplace, earning and learning features, and even tools for institutional traders.

Moreover, OKX provides a robust NFT platform for creating, trading and exploring NFTs across 11 networks. Besides, users can also swap cryptocurrencies across 10+ networks and 100+ DEXs using OKX's advanced aggregator and bridge.

Besides, it allows users to purchase crypto with IDR via the Express Buy feature, which is among the reasons why it might be the best crypto exchange in Indonesia for some. Speaking of supported currencies, the platform also offers a wide range of crypto assets like BTC, ETH, USDT, DOGE, SOL, and so on.

Now, it's also worth mentioning that OKX takes security seriously and, thus, employs multiple layers of protection. For one, it uses a semi-offline storage solution, which provides an added layer of protection against online threats. Additionally, OKX prioritizes user authentication by implementing two-factor authentication, requiring users to provide two forms of verification before accessing their accounts.

Overall, OKX is a versatile platform encompassing various crypto services, from trading to DeFi and NFTs. Therefore, it's regarded by many as one of the best crypto exchanges Indonesians can access.

Indodax is a platform you'll notice in many "Best crypto exchange in Indonesia" lists. After all, it is an Indonesian crypto exchange that was founded in 2014.

The platform is registered and directly supervised by Bappebti and the Ministry of Communication and Information. Besides, Indodax was the first exchange in Indonesia to receive two international certifications (ISO 9001: 2015 and ISO 27001: 2013).

Indodax supports over 200 cryptocurrencies, including Bitcoin and Ethereum. Plus, it obviously has full IDR support. This flexibility simplifies fund management allowing seamless depositing and withdrawal processes. When it comes to IDR, you can withdraw it via bank transfers, and deposit it via bank transfers, virtual accounts, e-wallets or even retail.

What sets Indodax apart is its user-friendly interface. Besides, it provides users with learning material via the Indodax Academy, which makes it an especially great option for newcomers.

Also, Indodax offers quite competitive trading fees. For example, if you plan to trade on IDR markets, a maker fee for buying will be 0.21% and for selling 0.2%, while the taker fee will be 0.31% for buying and 0.3% for selling.

However, it is worth noting that Indodax does not offer many features, especially compared to some other platforms competing for the "Best crypto exchange in Indonesia" title (like Binance or Bybit). It mainly offers spot trading, staking, and OTC trading. 

To sum up, Indodax's commitment to affordable, secure, and user-friendly cryptocurrency trading has solidified its position as one of the best crypto exchanges in Indonesia, but it is rather limited.