The Increase in Crypto Transactions in Indonesia Shows Promising Market Potential

INDODAX CEO, Oscar Darmawan. (Photo: Doc. INDODAX)

JAKARTA - Growing interest among the public as well as regulatory support from the government has encouraged the crypto industry in Indonesia to experience significant growth until March 2024.

According to the Commodity Futures Trading Supervisory Agency (BAPPEBTI), the number of crypto investors reached 19.75 million people and experienced an increase of 2.97 percent compared to February 2024.

In direct proportion to this data, the number of transactions has also increased. BAPPEBTI revealed that the value of crypto transactions in Indonesia would increase by 207.5 percent in March 2024.

The same positive trend was also shown by INDODAX. The number of members increasing to 6.5 million has the impact of trading volume on INDODAX more than doubling by March 2024. This indicates growing public interest in crypto as an investment instrument.

Oscar Darmawan, CEO of INDODAX, said that his party saw positive growth in the value of crypto transactions in Indonesia.

"The growing interest in crypto assets in Indonesia encourages us (INDODAX) to remain committed to advancing the crypto ecosystem in the country," said Oscar in his statement, Tuesday 14 May.

The increase in crypto transactions reflects the potential of the crypto market in Indonesia and shows that crypto assets are increasingly being accepted as a promising investment alternative. To facilitate this increase, proper oversight and proper education are necessary to ensure the continued growth of the crypto industry.

According to Oscar, one of the main factors driving this surge was the increase in Bitcoin prices followed by the increase in other coins. With the Bitcoin price increasing to above IDR 1 billion, investors and traders tend to carry out more active transactions, causing a significant increase in trading volume.

Apart from that, support from regulators for the crypto industry also influences the development and increase of crypto assets in Indonesia.

On the other hand, INDODAX also continues to educate the public through the INDODAX Academy. This education aims to provide the public with an in-depth understanding of crypto investment and blockchain technology.

“Through INDODAX Academy, we provide training, webinars and educational materials created to help individuals understand the potential and risks of crypto investment. "We believe that by providing access to the right knowledge and information, we can help people make wiser investment decisions," explained Oscar.

He added that INDODAX Academy can be accessed for free via the website and YouTube channel, where users can learn the basics to advanced levels in the world of crypto, as well as receive various tips on managing crypto assets wisely.

Apart from that, INDODAX is also collaborating with the Indonesian Blockchain and Crypto Asset Traders Association (Aspakrindo - ABI) in the Crypto Literacy Month (BLK) program in May 2024.

"Through our collaboration and participation in BLK 2024, we are committed to providing resources and support to ensure the success of this program and contribute to the inclusive growth of the crypto industry in Indonesia," said Oscar.