In this article of the best crypto trading platforms and exchanges in Indonesia, our team of crypto exchanges consisting of Larry, Mike, and Carla has rigorously tested 30 crypto exchanges based on a specific review methodology. Our team has selected the top 5 best picks and shared them in the list below.
List of the best crypto exchanges and trading platforms Indonesia
| Platform | Key Features | Fee |
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| 1. BYDFi | - Best crypto trading platform overall | 0.02% |
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| 2. BingX | - Second best exchange | 0.05% |
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| 3. Phemex | - Best no KYC crypto platform | 0.06% |
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| 4. Coinbase | - Best for buying crypto | 0.50% |
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| 5. Binance | - Top exchange for altcoin trading | 0.045% |
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(This article is not financial advice. Research before investing. Some links are affiliate links, earning us a commission without extra cost for you. Our content remains unbiased regardless of affiliates.)
Key takeaways
- BYDFi is as the best crypto exchange and trading platform in Indonesia. Its competitive edge lies in its low fees, diverse trading options, and high liquidity, making it the go-to platform for Indonesian traders.
- BingX, Phemex, Coinbase, and Binance offer unique features that cater to different trading preferences. From BingX's copy trading to Phemex's anonymity, Coinbase's beginner-friendly approach, and Binance's altcoin variety, these platforms provide robust alternatives.
- The selection of the best platforms was based on an extensive review process, considering factors like fees, security, user experience, and trading options. This thorough analysis ensures that the recommendations are well-rounded and cater to a wide range of trading needs and preferences.
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What is the best crypto exchange and trading platform in Indonesia?
In the process of reviewing and selecting the best crypto platforms in Indonesia, our team has analyzed over 50 data points for each exchange with an added focus on these factors:
- Support channels
- Fees and cost
- Security protocols
- Client reviews
- Charting interface
- App functionality
- Registration process
- KYC and AML
- Trading tools
1. BYDFi - Best Indonesian crypto exchange and trading platform overall
BYDFi rating: 9.9/10
Overview
BYDFi is seen as the best crypto exchange and trading platform in Indonesia, offers a comprehensive trading experience for both new and seasoned crypto traders. With over 600 tradable assets, including major coins like Bitcoin and Ethereum, as well as a plethora of lesser-known altcoins, BYDFi stands out for its versatility and user-friendly interface.
It supports various trading options such as spot trading, margin trading, P2P fiat trading, and copy trading, making it an ideal platform for Indonesian traders looking to trade cryptocurrencies with Rupiah.
Crypto expert Larry conducted a test on BYDFi by depositing Rp10.000.000 using an Indonesian VISA credit card. He traded AAVE, BSV, and CAKE cryptocurrencies, leveraging the USDT-M perpetual derivatives swap. The average cost incurred was a mere 0.02%.
Larry executed 30 trades over two days, resulting in a 20% profit. The process included straightforward depositing, KYC documentation, and withdrawal of funds back to the same credit card. The total fee and the efficiency of the process were commendable, showcasing BYDFi's user-centric approach.
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Pros
- Advanced Order Types
- High Liquidity
- API Integration
- Low Latency Trading
- Security Protocols
Cons
- No Crypto Staking
- Limited Educational Resources
- Risk of Leverage Trading
- Volatility Risks
Why we like it
BYDFi's integration with TradingView for advanced charting capabilities is a standout feature. This not only aids in detailed technical analysis but also enhances the trading experience by allowing users to visualize patterns and trends effectively. The platform's commitment to empowering traders through sophisticated yet accessible tools makes it a unique choice for our blog post.
Features
- Over 600 Cryptocurrency Pairs
- Spot, Perpetual Futures, and Leveraged Trading Options
- Social Copy Trading Feature
- Mobile App for Trading on the Go
- Customizable Layouts and Charts
- Welcome Rewards Program
- Portfolio Manager for Asset Tracking
- Real-Time Data Analytics
- Advanced Risk Management Tools
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Fees
- Spot Trading: Maker fees range from 0.1% to 0.3%.
- Perpetual Futures (USDT-M and COIN-M): Maker fees are 0.02%, and taker fees are 0.06%.
2. BingX - Best alternative crypto exchange in Indonesia
BingX rating: 9.8/10
Overview
BingX, established in 2018, has emerged as the best alternative crypto exchange in Indonesia, particularly for traders interested in copy trading with the Indonesian Rupiah. This platform is a comprehensive trading platform offering a range of digital assets and advanced tools. BingX's customer-centric approach and its availability in over 100 countries make it a global player in the crypto industry.
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Crypto veteran Mike decided to test BingX by depositing Rp15.000.000 using an Indonesian debit card, a Mandiri Visa. He engaged in copy trading with the platform's top traders, allocating all his capital with an average cost of 0.05%. After 25 trades in a single day, Mike achieved a 9% profit.
Considering the total fees, here's a breakdown:
- Initial Deposit: Rp15.000.000
- Average Cost per Trade: 0.05%
- Total Number of Trades: 25
- Total Fees: Rp15.000.000 x 0.05% x 25 = Rp187.500
- Profit: 9% of Rp15.000.000 = Rp1.350.000
- Net Gain: Rp1.350.000 - Rp187.500 = Rp1.162.500
Mike's experience highlights BingX's efficient depositing, KYC documentation, and withdrawal processes, demonstrating its suitability for Indonesian traders.
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Pros
- Instant Crypto Purchases
- Asset Diversity
- Copy Trading Feature
- Advanced Trading Interface
- Educational Resources
Cons
- High Transaction Fees
- Limited Direct Crypto Purchases
- No Staking Options
- Limited Fiat Withdrawal Options
Why we like it
BingX stands out for its commitment to making crypto trading accessible and profitable for all levels of traders. Its unique selling point is the blend of a user-friendly interface with advanced trading options, making it ideal for both beginners and experienced traders. The platform's focus on educational resources through BingX Academy is particularly commendable, as it empowers users to make informed trading decisions.
Features
- Instant Crypto Purchases
- Over 150 Tradable Crypto Assets
- Spot, Futures, and Perpetual Contracts Trading
- Mobile App for Trading on the Go
- Professional Trading Interface
- Copy Trading with Elite Traders
- Beginner-Friendly User Interface
- Attractive New-User Rewards
- Up to 60% Rebate with Affiliate Program
- Premium Customer Support with Live Chat
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Fees
- Deposit Fees: Crypto deposits are free; fiat purchases have variable fees.
- Trading Fees: Spot trading fees for makers vary between 0.05% and 0.1%; takers pay a fixed fee of 0.1%.
- Withdrawal Fees: Varies for each crypto asset; fiat withdrawals are not supported.
3. Phemex - Best no KYC crypto exchange Indonesia
Phemex rating: 9.7/10
Overview
Phemex, a Singapore-based crypto trading platform, stands out as the best No KYC crypto exchange in Indonesia. It's designed for Indonesian traders who prefer to trade cryptocurrencies like Bitcoin and Ethereum anonymously, using Rupiah.
Phemex's mission is to enable efficient trading for everyone, not just experienced traders, without taking significant risks. Founded in 2019 by a team of former Morgan Stanley executives, Phemex has quickly become a trusted name in the crypto space, offering a user-friendly interface and a variety of trading options, including perpetual contracts with up to 100x leverage.
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Carla, our crypto enthusiast, decided to test Phemex. She deposited Rp20,000,000 from her Bitcoin wallet without undergoing any KYC procedures. Carla then engaged in trading using the futures grid bot on Phemex, with an average cost of 0.075%. Over the course of a day, she made 20 trades and achieveed a profit of 7%.
The total fee for her trading activities was Rp15,000 (0.075% of Rp20,000,000), leaving her with a net profit of Rp1,400,000 (7% of Rp20,000,000). The process of depositing, trading, and withdrawing funds back to her Bitcoin wallet was seamless and efficient, showcasing Phemex's user-friendly and cost-effective platform.
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Pros
- User-Friendly Interface
- No KYC for All Trading
- Zero Fee Spot Exchange
- Sub-Account Feature
- 24/7 Customer Support
Cons
- Limited Fiat Options
- Advanced Features Complexity
- Regulatory Ambiguity
- Sparse Educational Resources
- Risk of High Leverage
Why we like it
Phemex distinguishes itself with its unique approach to crypto trading. What makes it particularly appealing is its commitment to providing a seamless trading experience without the need for KYC documentation. This feature is a significant boon for traders who value privacy and speed in their trading activities.
Additionally, Phemex's user-friendly interface, combined with its robust security measures, makes it an ideal platform for both novice and experienced traders. The platform's ability to offer high leverage trading with minimal fees further adds to its attractiveness.
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Features
- 100x Leverage
- Copy Trading
- Grid Trading Bots
- Phemex Earn
- Phemex Savings
- No Native Token Requirement
- Trading Without Fees
- Demo Account
- Mobile Application
- Welcome Bonuses
Fees
- Deposit Fees: Free
- Transaction Fees: Taker - 0.075%, Maker - -0.025%
- Withdrawal Fees: Varies depending on the currency
4. Binance - Best exchange to trade altcoins in Indonesia
Binance rating: 9.6/10
Overview
Binance, a leading name in the cryptocurrency trading sphere, has established itself as the best altcoin trading platform in Indonesia. Catering to Indonesian traders, Binance allows trading in a wide range of altcoins with Rupiah, offering a seamless and efficient trading experience.
This platform stands out for its user-friendly interface, extensive range of cryptocurrencies, and robust security measures, making it an ideal choice for both novice and experienced traders in Indonesia.
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Crypto expert Larry conducted a test on Binance by depositing Rp25.000.000 through a bank transfer from an Indonesian crypto-friendly bank. He traded five different altcoins: BCH, Tron, ADA, Solana, and GRT, utilizing the entire capital.
The average cost per trade was 0.1%, amounting to a total fee of Rp25,000. Over two days, Larry executed 55 trades and achieved a profit of 14%. This means he earned Rp3,500,000 in profit, after accounting for the trading fees.
Pros
- High Liquidity
- Advanced Security Measures
- Diverse Cryptocurrency Support
- User-Friendly Mobile App
- Innovative Features
Cons
- Complex Advanced Trading Platform
- Regulatory Challenges
- KYC Compliance
- Limited Demo Account Availability
- Vulnerability to Market Volatility
Why we like it
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Binance stands out for its commitment to innovation and user experience. The introduction of features like Binance NFT Marketplace and Bicasso, an AI-powered NFT art generator, showcases its dedication to staying at the forefront of the cryptocurrency exchange industry. These unique offerings, coupled with its robust security measures and user-friendly interface, make Binance a top choice for our blog post.
Features
- eWallets Integration
- Mobile Trading
- Diverse Trading Account Types
- In-Depth Market Research
- Financing Options
- Launchpad for New Cryptocurrencies
- Flexible Deposits and Withdrawals
- Binance Credit Cards
- Binance Cloud
- Binance Charity Foundation
Fees
The fee structure on Binance is competitive, with a standard trading fee of 0.1%. Withdrawal fees are dynamic and vary based on the cryptocurrency. Binance also offers a 25% discount on Margin and Spot trading fees for VIP users.
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5. Coinbase - Best exchange to buy crypto in Indonesia
Coinbase rating: 9.5/10
Overview
Coinbase, a leading global cryptocurrency exchange, has established itself as a top choice for Indonesian traders looking to invest in crypto with Rupiah. Renowned for its security and regulatory compliance, Coinbase supports over 240 cryptocurrencies and 500+ crypto pairs, making it an ideal platform for both beginners and seasoned traders.
Its user-friendly interface, combined with a diverse range of crypto assets and advanced trading options, positions Coinbase as the best exchange for investing in crypto in Indonesia.
Crypto expert Mike conducted a test by depositing Rp30,000,000 using a debit card from a crypto-friendly Indonesian bank, incurring a fee of 2.99%. He invested the entire amount in Bitcoin, with an average cost of 0.50%.
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Over four days, Mike earned a profit of 6%. The total fees included the initial deposit fee and the investment cost, amounting to Rp899,700 (2.99% of Rp30,000,000) + Rp150,000 (0.50% of Rp30,000,000), totaling Rp1,049,700.
His profit was Rp1,800,000 (6% of Rp30,000,000), netting a final gain of Rp750,300 after deducting the fees. The process also involved seamless KYC documentation and withdrawal of funds to the same bank account.
Pros
- Security and Compliance
- Diverse Asset Range
- User-Friendly Interface
- Advanced Trading Options
- Educational Resources
Cons
- Higher Standard Plan Fees
- Limited Derivatives Trading
- Geographical Service Irregularities
- No Demo Terminal
- Customer Support Issues
Why we like it
Coinbase stands out for its commitment to innovation and security in the crypto space. Its recent introduction of the "Base" blockchain, an Ethereum-secured layer-2 ecosystem, exemplifies this commitment. This initiative not only aligns with the growing trend towards decentralized finance but also enhances user experience by facilitating easier access to DApps in an open-source environment.
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This forward-thinking approach, coupled with Coinbase's robust security measures and a wide array of user-centric features, makes it a unique and compelling choice for our blog post.
Features
- Over 240 Cryptocurrencies
- Coinbase Card
- Coinbase Borrow
- Earn Program
- Private Client Services
- Learning Resources
- Pay SDK
- Staking Services
- NFT Marketplace
- Web3 Gateway
Fees
| Service | Fee |
| Deposit (Debit Card) | 2.99% |
| Trading Fee (Standard) | 0.50% |
| Withdrawal (Wire Transfer) | $25 |
| Coinbase Borrow Transaction | 2% |
| Staking Rewards Performance Fee | 25-35% |
How do you buy crypto in Indonesia?
Indonesia, with its growing digital economy, has seen a significant rise in cryptocurrency trading. Platforms like BYDFi, BingX, and Coinbase have become popular among Indonesian investors for their user-friendly interfaces and robust security measures.
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As an expert in the field, I have explored these platforms extensively and will share insights to guide potential crypto investors in Indonesia.
Step-by-step guide to buying crypto in indonesia:
- Choose a Reliable Exchange
- Create and Verify Your Account
- Deposit Funds
- Select and Buy Cryptocurrency
What is an Indonesian crypto exchange?
An Indonesian crypto exchange is a digital marketplace where individuals in Indonesia can buy, sell, or trade cryptocurrencies using different fiat currencies, including the Indonesian Rupiah (IDR), or other digital currencies. These platforms are designed to cater to the needs of local users, offering features and services that align with the unique financial landscape and regulatory environment of Indonesia.
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Platforms like BYDFi, BingX, and Coinbase have made significant inroads in the Indonesian market. For instance, BYDFi offers a user-friendly interface and competitive trading fees, which I verified through direct use and comparison with other platforms.
BingX stands out for its social trading features, allowing users to follow and copy the trades of experienced investors, a feature I tested and found to be particularly beneficial for beginners.
Is crypto legal in Indonesia?
Cryptocurrency in Indonesia is legal but with certain restrictions. The Indonesian government, through its regulatory bodies, recognizes cryptocurrencies not as a legal currency but as a commodity. This means that while you can trade and invest in cryptocurrencies like BYDFi, BingX, or Coinbase, they cannot be used as a form of payment for goods and services.
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The Indonesian government, particularly the Commodity Futures Trading Regulatory Agency (BAPPEBTI), has set guidelines for cryptocurrency trading. These regulations are designed to protect investors and ensure market stability. For instance, crypto exchanges operating in Indonesia must comply with these regulations, which include systems for risk management, transaction security, and consumer protection.
Pros and cons of buying crypto
Pros
- Diversification of Investment Portfolio
- High Potential Returns
- 24/7 Market Access
- Innovation and Future Potential
- Global Market Access
Cons
- Market Volatility
- Regulatory Uncertainty
- Security Risks
- Complexity for Beginners
- Environmental Concerns
Is crypto taxed in Indonesia?
Indonesia recognizes cryptocurrencies not as a legal currency but as a commodity. This distinction is critical in understanding the taxation framework. Consequently, any gains from cryptocurrency transactions are subject to capital gains tax. This aligns with the global trend where most countries tax profits made from crypto trading.
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How we review and rate crypto exchanges
When reviewing and rating the best crypto exchanges and trading platforms in Indonesia, our approach is comprehensive, user-focused, and grounded in expertise. Our goal is to provide an authentic, insightful, and valuable resource for anyone looking to engage in cryptocurrency trading.
We put ourselves in the shoes of both novice and experienced traders to evaluate each platform's usability, features, and overall user experience. This includes assessing the ease of account creation, the intuitiveness of the interface, and the quality of customer support.
Our team comprises seasoned cryptocurrency enthusiasts and traders who bring a wealth of knowledge to our reviews. We stay updated with the latest trends and changes in the crypto world, ensuring our reviews are current and informed.
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FAQ
Can I use Binance in Indonesia?
Yes, Binance is available in Indonesia and is popular for its wide range of cryptocurrencies and advanced trading features.
What is the most used crypto in Indonesia?
Bitcoin is the most widely used cryptocurrency in Indonesia, known for its market dominance and widespread acceptance.
Is Coinbase allowed in Indonesia?
Coinbase offers limited services in Indonesia.
Which crypto wallet is accepted in Indonesia?
Trust Wallet and MetaMask are widely accepted in Indonesia, offering secure storage and easy access to a variety of cryptocurrencies.
Is Indonesia a crypto friendly country?
Indonesia has a growing interest in cryptocurrencies, but regulatory policies are still evolving, making it moderately crypto-friendly.
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Can you trade crypto in Indonesia?
Yes, cryptocurrency trading is legal in Indonesia, with several local and international platforms available for users.
Conclusion
In conclusion, after a thorough and detailed analysis, it's clear that BYDFi stands out as the best crypto exchange and trading platform in Indonesia. This platform distinguishes itself with its low fees, high liquidity, and a wide range of trading options, catering to both novice and seasoned traders.
Its integration with TradingView for advanced charting capabilities further enhances the trading experience, making it the top choice for Indonesian crypto enthusiasts.
While BYDFi leads the pack, it's important to acknowledge worthy alternatives like BingX, Phemex, Coinbase, and Binance. Each of these platforms offers unique features and benefits, catering to different trading needs and preferences.
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Whether it's BingX's copy trading feature, Phemex's no KYC policy, Coinbase's user-friendly interface, or Binance's extensive altcoin support, these platforms provide viable options for various trading strategies and requirements.
About the authors
This comprehensive review of the best crypto exchanges and trading platforms in Indonesia is brought to you by a team of seasoned crypto experts: Larry, Mike, and Carla. With years of experience in the cryptocurrency market, our team has a deep understanding of the nuances and dynamics of crypto trading.
Larry, known for his strategic trading insights, Mike, with his expertise in market trends, and Carla, renowned for her analytical skills, have collectively tested and evaluated numerous platforms to bring you this well-researched guide.
