Coinranking
Coin listings
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New coin listings
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Markets
About Indodax
Indodax (originally Bitcoin.co.id) is Indonesia’s largest crypto trading platform. Founded in 2014 by Oscar Darmawan and William Sutanto, the exchange is now licensed as a PFAK (Physical Crypto Asset Trader) under BAPPEBTI and—since May 2025—is led by CEO William Sutanto with Oscar Darmawan moving to Chairman. Indodax says it serves 7 million + users and lists 400 + digital assets across IDR and USDT markets.
Key Features
- Rupiah on-ramps — seamless IDR deposits/withdrawals via bank transfer, virtual accounts, and e-wallets (min IDR 10 000).
- Large coin catalog — 400 + cryptocurrencies and hundreds of trading pairs against IDR and USDT.
- Low & transparent fees — maker 0 % and taker 0.30 % on spot, plus small CFX fee (0.0222 – 0.0444 %) and VAT. Deposits are free; network-only crypto withdrawals.
- Spot-only simplicity — no leverage or margin; ideal for buy-and-hold investors.
- Mobile & web apps — full-featured Android / iOS apps with TradingView charts, price alerts, and Indonesian-language support.
- Regulated & certified — BAPPEBTI licence #10/BAPPEBTI/PFAK/12/2024, plus ISO 9001 & ISO 27001 for quality and information security.
- Education hub — Indodax Academy offers tutorials, webinars, and market insights to grow local crypto literacy.
Points to Consider
- No derivatives — traders seeking futures or margin must look elsewhere.
- Security incident (Sept 2024) — hot-wallet hack stole ≈ US $22 M; platform paused, later reimbursed users.
- Volume & depth — daily turnover often below global tier-1 exchanges; large orders on smaller pairs may face slippage.
- Indonesia-centric — IDR focus and mandatory KYC mean limited appeal for foreigners who lack local banking.
- Extra taxes & fees — CFX fee and 11 % VAT apply to every trade (higher all-in cost than headline rates).
- Proof-of-reserves gap — publishes wallet addresses but lacks an independent, real-time reserve audit.
- Leadership transition — recent CEO change could herald strategy shifts; monitor execution and communication.
Bottom Line
Indodax is the go-to exchange for Indonesian Rupiah traders—regulated, IDR-friendly, and packed with local education resources. Yet its spot-only product line, modest liquidity, and 2024 hack underline the need for cautious position sizing and diligent security practices—especially for users outside Indonesia’s banking rails.