Indodax review: Indodax, also known as the Indonesian Digital Asset Exchange, is one of the largest cryptocurrency exchanges in Southeast Asia. It was established in 2014 and has since become a prominent platform for trading various digital assets, including Bitcoin, Ethereum, and other cryptocurrencies. Indodax operates as a centralized exchange, providing users with a secure and reliable platform to buy, sell, and trade cryptocurrencies.
One of the key features of Indodax is its user-friendly interface, which caters to both beginners and experienced traders. The platform offers a wide range of trading pairs, allowing users to exchange cryptocurrencies with Indonesian Rupiah (IDR) and vice versa. This makes it convenient for Indonesian residents to enter the cryptocurrency market and participate in the growing digital asset economy.
To ensure the safety of user funds, Indodax implements robust security measures. It employs advanced encryption technology to protect sensitive information and utilizes cold storage to store a significant portion of the digital assets offline, away from potential hacking threats. Additionally, the platform incorporates two-factor authentication (2FA) and other security protocols to provide an added layer of protection for user accounts.
| 📅 Year of Establishment | 2014 |
| 💱 Coins: | 270+ |
| 💰 Min deposit | From $1 |
| ⚖️ Leverage | 1:1 |
| 💹 Trading fees | From 0% |
| 💳 P2P platform | ✅ |
| 📱 Mobile apps | iOS, Android |
| 🗺️ Headquarters | Jl. H. R. Rasuna Said Kav. X-5 No. 13, RT.2/RW.5, Karet Kuningan, Setiabudi, South Jakarta City, Jakarta 12950, Indonesia. |
Overall Indodax Review
It's important to note that the cryptocurrency market is highly volatile, and trading cryptocurrencies carries inherent risks. Users should conduct their own research, exercise caution, and seek professional advice before engaging in cryptocurrency trading activities on platforms like Indodax.
Go to Indodax website
Top Reviews
Best customer reviews of Indodax
The site administration cannot guarantee review accuracy and lacks the technical means to verify if authors are actual customers. Reviews lacking detail and purely emotional in nature are disregarded.
I have been using Indodax for over a year now, and I am extremely satisfied with their platform. The user interface is intuitive and easy to navigate, making it a breeze to trade different cryptocurrencies. The customer support team is highly responsive and has always provided me with prompt assistance whenever I needed it. Moreover, the wide selection of trading pairs available on Indodax allows me to diversify my investment portfolio effectively. Overall, I highly recommend Indodax for its user-friendly experience and reliable services.
Indonesia
Indodax offers a decent trading experience overall. The platform's interface is straightforward, making it relatively easy to execute trades and manage my digital assets. While the security measures in place seem robust, I would appreciate more transparency regarding their storage practices. The customer support, although responsive, could improve in terms of providing more detailed and timely assistance. Additionally, while the range of available cryptocurrencies is decent, I hope to see more altcoins being added in the future. In summary, Indodax is a reliable platform but could benefit from some enhancements.
Hong Kong
I had a disappointing experience with Indodax. The platform's user interface is outdated and clunky, making it challenging to navigate and execute trades smoothly. Furthermore, I encountered several technical issues during my trading activities, which resulted in frustration and loss of potential opportunities. The customer support was slow in responding to my queries and failed to provide satisfactory solutions. Moreover, the fees on Indodax are quite high compared to other exchanges, significantly impacting my overall profitability. Considering my experience, I would not recommend Indodax for cryptocurrency trading.
Singapore
Expert Review
Expert Review of Indodax
Indodax, as a cryptocurrency exchange, exhibits a commendable level of reliability in its operations. From a financial expert's perspective, the exchange demonstrates several key aspects that contribute to its overall reliability.
First and foremost, Indodax has established itself as one of the largest and most prominent cryptocurrency exchanges in Southeast Asia. Its longevity in the market since 2014 showcases a track record of consistent operation and adaptability to the ever-changing cryptocurrency landscape. This level of experience instills confidence in users and indicates the exchange's ability to weather market fluctuations and evolving regulatory environments.
Furthermore, Indodax prioritizes security measures to safeguard user funds and data. The implementation of advanced encryption technology ensures the protection of sensitive information, reducing the risk of unauthorized access and potential data breaches. Additionally, the employment of cold storage solutions enhances the safety of digital assets by keeping a significant portion of funds offline, away from potential hacking threats.
In conclusion, Indodax exhibits a commendable level of reliability as a cryptocurrency exchange. Its longevity in the market, focus on security, commitment to customer support, and robust trading volumes contribute to its overall credibility and trustworthiness. However, users should remain vigilant and assess the risks associated with cryptocurrency trading before engaging with any exchange platform.
Financial expert and analyst at TradersHero.com
Trading on Indodax involves exposure to the inherent volatility of the cryptocurrency market. Cryptocurrencies are known for their significant price fluctuations, which can occur rapidly and unpredictably. While this volatility presents opportunities for profit, it also carries substantial risks. Traders should be prepared for sudden price swings and the potential for significant losses. It is crucial to carefully assess and manage risk, set realistic expectations, and avoid investing more than one can afford to lose.
Indodax Ern
Investment Programs
Indodax primarily acts as a cryptocurrency exchange platform that facilitates the buying, selling, and trading of various digital assets. While the platform itself does not offer special programs or features for making money directly, users can explore several strategies for potentially making a profit on Indodax. Here are a few common approaches:
Indodax, the renowned cryptocurrency exchange, does not currently provide staking services on its platform. While Indodax offers a range of features for users to buy, sell, and trade digital assets, including popular cryptocurrencies, it does not offer a dedicated staking program.
Staking typically involves holding specific cryptocurrencies in a wallet to support the network's operations and earn rewards. However, at the time of my knowledge cutoff in September 2021, Indodax did not support this particular feature.
It's important to stay updated with the latest information regarding Indodax's services as they may introduce new features or offerings in the future. For the most accurate and up-to-date details on the services available on Indodax, I recommend visiting their official website or reaching out to their customer support team.
The regulatory environment surrounding cryptocurrencies is evolving, and different jurisdictions may have varying laws and regulations. This regulatory uncertainty can introduce risks for traders on Indodax. Changes in regulations, government actions, or legal restrictions related to cryptocurrencies can impact the exchange's operations and the value of digital assets. Traders should stay informed about the legal landscape and comply with any applicable laws and regulations to mitigate potential risks.
Best Copy Trading Platforms
Conditions
Trading Conditions for Indodax Users
Trading on Indodax, the Indonesian Digital Asset Exchange, offers users a variety of trading conditions to consider. Firstly, Indodax provides a wide range of trading pairs, enabling users to trade various cryptocurrencies against the Indonesian Rupiah (IDR). This unique feature allows for convenient trading in the local currency and facilitates easy access to the cryptocurrency market for Indonesian residents.
When it comes to trading fees, Indodax employs a tiered fee structure based on a user's trading volume over a 30-day period. Higher trading volumes typically result in lower fees, encouraging active trading and rewarding users with reduced transaction costs. The specific fee percentages and tier levels can be found on the Indodax website, ensuring transparency in fee calculations.
Indodax strives to maintain market liquidity, ensuring users can execute trades efficiently. The platform facilitates a significant trading volume, contributing to a liquid market environment. This liquidity minimizes slippage and allows users to trade at fair market prices, enhancing the overall trading experience.
To support users in their trading endeavors, Indodax offers a user-friendly trading interface equipped with various tools and features. Real-time price charts, different order types (such as limit, market, and stop-limit), and trade history are available to assist users in analyzing market trends and executing trades effectively.
In terms of customer support, Indodax provides assistance to users through multiple channels, including email, live chat, and social media platforms. The support team is dedicated to addressing user inquiries and concerns promptly, ensuring users can navigate the platform and its trading conditions with ease.
| 📅 Year of Establishment | 2014 |
| 💱 Coins: | 270+ |
| 💰 Min deposit | From $1 |
| ⚖️ Leverage | 1:1 |
| 💹 Trading fees | From 0% |
| 💳 P2P platform | ✅ |
| 🔁 Copy Trading | ❌ |
| 📊 DeFi Staking | ❌ |
| 🖼️ NFT | ❌ |
| 🏦 Crypto Loans | ❌ |
| 🔓 Demo account | ✅ |
| 🚀 Launchpad | ❌ |
| 📱 Mobile apps | iOS, Android |
| 📞 Customer Service | Forums, Chat, Email |
| 👩💼 Support | Multilingual |
| 🗺️ Headquarters | Jl. H. R. Rasuna Said Kav. X-5 No. 13, RT.2/RW.5, Karet Kuningan, Setiabudi, South Jakarta City, Jakarta 12950, Indonesia. |
Risk Warning
Comparison
Comparison of Indodax with other Crypto Exchanges
Crypto Exchanges comparison table of trading instruments
Commissions
Indodax Accounts, Commissions & Fees
Indodax, the Indonesian Digital Asset Exchange, offers different types of accounts with varying features, as well as a fee structure for its services. Here is an overview of Indodax accounts, commissions, and fees:
- Account Types: Indodax provides two types of accounts: Regular and VIP. Regular accounts are suitable for most users, while VIP accounts offer additional benefits such as lower trading fees, faster customer support, and priority access to new features. The requirements and benefits of the VIP account may vary, so it's recommended to check the Indodax website for specific details.
- Trading Fees: Indodax implements a maker-taker fee model. Makers are users who add liquidity to the order book by placing limit orders, while takers are users who remove liquidity by placing market orders. The trading fees vary depending on the user's maker or taker status. Generally, maker fees are lower than taker fees. The specific fee percentages can be found on the Indodax website.
- Deposit and Withdrawal Fees: Indodax does not charge any fees for depositing digital assets into your account. However, there may be network fees associated with the specific blockchain of the deposited asset. Withdrawal fees vary depending on the digital asset being withdrawn and are subject to change based on network conditions. The withdrawal fee for each asset can be found on the Indodax website.
- OTC Trading Fees: Indodax offers over-the-counter (OTC) trading services for high-volume transactions. OTC trading fees are negotiable and can be discussed with the Indodax team based on the specific requirements and trading volume.
- Fiat Deposit and Withdrawal Fees: Indodax may charge fees for depositing and withdrawing fiat currency (Indonesian Rupiah, IDR) to and from your account. The specific fees and methods of depositing and withdrawing fiat currency can be found on the Indodax website.
The Indodax platform has its own token called IDK (Indodax Token). IDK is a utility token designed for use in the Indodax ecosystem. It can be used to pay trading commissions on the platform with the ability to receive commission discounts. In addition, IDK can be used to access additional features and benefits on the Indodax platform.
IDR Withdrawal Fee
| Method | Fee | Min (IDR) | Max Per Transaction (IDR) | Max Daily Withdrawal Limit |
| Bank Account | Rp12,500 for transaction under Rp100,000,000Rp50,000 for transaction above Rp100,000,000 | 100,000 | 5,000,000,000 | Based on maximum daily withdrawal limit of each account |
| LinkAja | 100,000 | 2,000,000 | ||
| OVO | 100,000 | 2,000,000 | ||
| DANA | 100,000 | 2,000,000 | ||
| Gopay | 100,000 | 2,000,000 | ||
| ShopeePay | 100,000 | 2,000,000 | ||
| Pulsa | Rp0 | 100,000 | 200,000 |
IDR Deposit Fee
| Deposit Type | Method | Min Deposit (IDR) | Max Deposit (IDR) | Fee < Rp500.000 | Fee >= Rp500,000 |
| Bank Transfer | BCA Direct | 10,000 | 200,000,000,000 | 0 | |
| Transfer Between Bank | 10,000 | 10.000.000 (Xpresi)15.000.000 (BCA Blue)20.000.000 (BCA Gold)25.000.000 (Platinum) | 2,000 | 0 | |
| Sinarmas (Overseas Transfer) | 1,000,000 | (Based on transfer limit of sender bank account) | 0 | ||
| Virtual Account | VA BRI | 10,000 | 2,000,000,000 | 2,000 | 0 |
| VA Mandiri | 10,000 | 200,000,000 | 2,000 | 0 | |
| VA Permata | 10,000 | 2,000,000,000 | 2,000 | 0 | |
| E-Wallet | OVO | 10,000 | 10,000,000 | 1.67% | |
| QRIS (ShopeePay, LinkAja, GoPay) | 10,000 | 20,000,000 | 0.70% | ||
| eMoney – GoPay | 10,000 | 10,000,000 | 2.00% | ||
| Retail | Indomaret | 10,000 | 5,000,000 | 7,000 | |
| Alfamart | 10,000 | 2,500,000 | 4,440 | ||
While Indodax implements robust security measures, it is important to acknowledge the inherent security risks associated with trading and storing cryptocurrencies. Hackers and cybercriminals may attempt to target exchanges and individual user accounts to gain unauthorized access and steal funds. Traders should take proactive steps to enhance their security, such as enabling two-factor authentication (2FA), using strong and unique passwords, and exercising caution when sharing personal information online. Additionally, it is advisable to store a significant portion of digital assets in secure offline wallets rather than keeping them solely on the exchange.
Risk Warning
Final review
Detailed review of Indodax
Indodax, also referred to as the Indonesian Digital Asset Exchange, stands out as a prominent cryptocurrency exchange within Southeast Asia. Since its establishment in 2014, it has become a preferred platform for trading a diverse range of digital assets, including popular cryptocurrencies like Bitcoin and Ethereum. Operating as a centralized exchange, Indodax offers users a secure and dependable environment to engage in buying, selling, and exchanging cryptocurrencies.
Indodax is renowned for its user-friendly interface, catering to both novices and experienced traders. The platform supports a wide variety of trading pairs, enabling seamless conversions between cryptocurrencies and the Indonesian Rupiah (IDR). This accessibility plays a vital role in empowering Indonesian residents to enter the cryptocurrency market and actively participate in the growing digital asset economy.
To prioritize the safety of users' funds, Indodax implements robust security measures. Advanced encryption technology shields sensitive information, and the exchange utilizes cold storage solutions to store a significant portion of digital assets offline, mitigating potential hacking risks. Furthermore, Indodax incorporates additional security protocols such as two-factor authentication (2FA) to offer an added layer of protection for user accounts.
Indodax excels in providing excellent customer support, delivering assistance through various channels like email, live chat, and social media platforms. The dedicated support team is readily available to address user queries, resolve issues, and provide guidance on trading activities.
Beyond its trading services, Indodax plays an active role in promoting cryptocurrency adoption and education in Indonesia. The exchange frequently organizes seminars, workshops, and other educational events to enhance public awareness and understanding of digital assets. This concerted effort aims to foster a vibrant community of cryptocurrency enthusiasts while nurturing the growth of the blockchain ecosystem in Indonesia.
It is crucial to note that the cryptocurrency market is characterized by high volatility, and trading cryptocurrencies carries inherent risks. Users should exercise caution, conduct thorough research, and seek professional advice before engaging in cryptocurrency trading activities on platforms like Indodax.
Advantages:
The main advantages of the exchange:
Indodax Regulator
Indodax, the Indonesian Digital Asset Exchange, operates under the regulatory framework set by the Indonesian government. As of my knowledge cutoff in September 2021, Indodax is registered and regulated by the Indonesian Commodity Futures Trading Regulatory Agency (BAPPEBTI), which is responsible for overseeing futures trading, including cryptocurrency-related activities, in Indonesia.
BAPPEBTI is a government agency under the Ministry of Trade in Indonesia, tasked with ensuring the transparency, integrity, and stability of the futures market, including digital assets. By being regulated by BAPPEBTI, Indodax adheres to the regulatory guidelines and requirements set by the agency to ensure a secure and compliant trading environment for its users.
It's important to note that regulations may evolve or change over time. Therefore, it is advisable to verify the current regulatory status of Indodax by visiting the official website or contacting their customer support for the most up-to-date information.
Risk Warning
Promotions
Bonuses Paid by the Indodax
Bonuses
While specific bonus offerings may vary, here are some examples of bonuses that Indodax may offer:
It's important to note that the availability and terms of bonuses can vary, and they are often subject to specific conditions, such as minimum deposit amounts, trading volume requirements, or promotional periods. To stay updated on any ongoing or upcoming bonuses offered by Indodax, users are advised to check the Indodax website, official announcements, or subscribe to the platform's newsletter or social media channels.
Education
Review of the Indodax Education Program
The Indodax Education Program is designed to provide users with educational resources and materials to enhance their understanding of cryptocurrencies and blockchain technology. The program aims to empower users with the knowledge and skills necessary to make informed decisions when trading or investing in digital assets. Here's a review of the Indodax Education Program:
Educational tools:
Online Courses:
It's important to thoroughly research and evaluate the course content, instructor credibility, and user reviews before enrolling in any online course to ensure it aligns with individual learning goals and requirements.
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The Future of DeFi: Trends and Predictions for 2024
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Leveraging Fundamental Analysis: Using Economic Indicators to Inform Your Trading Decisions
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Forex Trading Platforms: Choosing the Right Platform for Your Trading Needs
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The Future of Cryptocurrency: Predictions and Trends for the Next Decade
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Trading Volatility: Strategies for Profiting from Price Swings in Forex and Crypto Markets
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Introduction to Crypto Mining: How to Start Mining Cryptocurrencies at Home
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Exploring Forex Pairs: Understanding Major, Minor, and Exotic Currency Pairs
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Crypto Market Analysis: Identifying Trends and Opportunities for Profitable Trading
Rating and Comments
Indodax Users Reviews 2024
Authors:
Roman Mukhin
Financial expert, analyst and author
Jane Emberg
Financial analyst and editor
Indodax’s withdrawal process was a complete nightmare. After selling my cryptocurrencies and attempting to withdraw my funds, I encountered numerous errors and glitches that prevented me from accessing my money. It took weeks of frustrating back-and-forth with their support team to finally resolve the issue. It was an incredibly stressful experience, and I have lost all trust in the platform’s reliability.
Indodax proved to be a major letdown in terms of security. I noticed suspicious activities on my account and immediately reached out to the platform. However, their response was slow, and by the time they took action, a significant amount of my funds had been compromised. Their lack of robust security measures is simply unacceptable, and I feel cheated and vulnerable.
I regret using Indodax for cryptocurrency trading. The customer support was abysmal, taking ages to respond to my inquiries, and when they finally did, their solutions were vague and unhelpful. It left me feeling neglected and unsupported as a user, and I would not recommend this platform to anyone.
I was extremely disappointed with my experience on Indodax. The platform’s user interface was clunky and confusing, making it difficult for me to navigate and execute trades. It was frustrating and time-consuming, and I ended up missing out on potential opportunities due to the platform’s inefficiency.