Indodax (Indonesia Digital Asset Exchange) is one of the largest and oldest cryptocurrency trading platforms in Indonesia. Established in 2014, Indodax offers over 200 digital assets for local users to trade with Indonesian Rupiah (IDR). With millions of active members and high daily transaction volumes, Indodax remains the top choice for Indonesian traders.
Table of Contents
- Initial Preparation for Trading on Indodax
- How to Register an Indodax Account
- Identity Verification (KYC) Process
- Deposit Methods on Indodax
- How to Buy Cryptocurrencies on Indodax
- FAQs
Initial Preparation for Trading on Indodax
Before diving into cryptocurrency trading on Indodax, it’s essential to make these foundational preparations to ensure security and smooth transactions.
1. Prepare an Active Email and Valid Phone Number
- Use a primary email (not a backup) for critical notifications like login confirmations and transaction alerts.
- Enable two-factor authentication (2FA) via Google Authenticator or SMS.
- Register a permanent phone number for verification and account recovery.
2. Ensure a Stable and Secure Internet Connection
- Avoid public Wi-Fi (e.g., cafes, airports) to prevent hacking risks.
- Use a private Wi-Fi or mobile data for uninterrupted trading.
- Consider a reputable VPN for added security in public spaces.
👉 Learn how to enhance your trading security
How to Register an Indodax Account
Follow these steps to create your Indodax account:
Step-by-Step Registration
- Visit the official Indodax website: https://www.indodax.com.
- Click “Register” (top-right corner).
Fill in the form with:
- Full name (matching your ID).
- Active email and phone number.
- Strong password (mix uppercase, lowercase, numbers, symbols).
- Confirm your email via the activation link sent by Indodax.
Identity Verification (KYC)
To start trading, complete the Know Your Customer (KYC) process:
- Navigate to “Account Verification” in your dashboard.
Upload a valid ID (KTP, SIM, or passport). Ensure the photo is:
- Clear and unedited.
- Uncropped.
Take a selfie holding your ID and a handwritten note:
- Text: “Indodax Verification [current date]”.
- Wait for approval (usually within 24 hours).
Deposit Methods on Indodax
Indodax supports multiple deposit options:
| Method | Description |
|---|---|
| Bank Transfer | BCA/Permata Virtual Account (via mobile/internet banking or ATM). |
| E-Wallets | DANA, OVO, QRIS, or GoPay. |
| QRIS Instant | Scan the QR code using any QRIS-supported app (e.g., GoPay, ShopeePay). |
- Confirmation time: 1–5 minutes (automatic).
- Notifications are sent via email and dashboard.
How to Buy Cryptocurrencies on Indodax
Indodax offers two order types:
Market Order vs. Limit Order
| Order Type | Description | Best For |
|---|---|---|
| Market | Buy instantly at current market prices. | Quick entry into the market. |
| Limit | Set your desired price; executes when met. | Strategic, patient trading. |
Steps to Buy:
- Log in and go to “Marketplace”.
- Select a cryptocurrency (e.g., Bitcoin).
- Choose Market/Limit Order.
- Enter the amount and click “Buy”.
- Assets will reflect in your Indodax wallet.
👉 Explore advanced trading strategies
FAQs
1. Is Indodax safe for beginners?
Yes. Indodax employs robust security measures, including 2FA and KYC verification, to protect users.
2. What’s the minimum deposit on Indodax?
The minimum deposit varies by method (e.g., bank transfers may require IDR 10,000).
3. How long does KYC approval take?
Typically under 24 hours. Delays may occur if documents are unclear.
4. Can I withdraw my crypto to an external wallet?
Yes, after completing KYC. Navigate to “Withdraw” and enter the external wallet address.
5. Are trading fees competitive?
Indodax charges a 0.3% fee per trade, lower than many global exchanges.
Final Thoughts
Indodax simplifies crypto trading for beginners with its user-friendly interface, diverse assets, and strong security. By starting with small investments and leveraging tools like limit orders, you can navigate the volatile crypto market confidently. Happy trading! 🚀