The Number Of Indonesian Crypto Investors Reaches 20 Million People, What Is The Favorite Crypto Exchange?

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

JAKARTA - According to the latest data from the Commodity Futures Trading Supervisory Agency (CoFTRA), the total number of crypto investors in Indonesia has reached 20.16 million people by April 2024. Of the total, 33.24 percent of investors are INDODAX users, making it the favorite crypto exchange in Indonesia.

"The number of our users has now exceeded 6.7 million people. This significant increase shows that more than a third of crypto investors in Indonesia are entrusting their investment in INDODAX," said INDODAX CEO Oscar Darmawan, in a statement, Tuesday, July 2.

Not only has the number of members increased, INDODAX also leads significantly in trading volume compared to other crypto exchanges. The total trading volume on INDODAX reached IDR 29 trillion in the second quarter.

This confirms the position of INDODAX as a market leader in this industry. Oscar Darmawan explained that the large number of crypto asset investors indicates that crypto has become the main investment option for the Indonesian people.

It is not surprising that the number of crypto asset holders in Indonesia continues to increase. What's more, 2024 is a crypto year. This year, the crypto industry experienced several historic moments, such as the launch of the Bitcoin Spot ETF in January 2024, the Halfing Bitcoin day, the Altcoin season, the Adoption and Regulation which were positive, and the possibility of ETF Spot ETH being accepted. The existence of these moments makes the price of crypto assets, especially Bitcoin, strengthen and attract Indonesians the interest in investing in crypto, "explained Oscar.

The increase in Bitcoin prices also prompted more INDODAX users to invest in Bitcoin.

Until June 2024, the number of Bitcoin investors on INDODAX was almost quadruple compared to the previous year with the same period, with an increase of 289.24 percent. This positive trend shows that people are increasingly understanding and taking advantage of the opportunities offered by crypto assets, especially Bitcoin, "added Oscar.

Oscar also added that this extraordinary increase in the number of crypto investors shows that crypto has become part of the long-term investment strategy of the Indonesian people.

"We at INDODAX are committed to continuing to provide the best and innovative services for our users, ensuring that they get a safe, easy, and profitable investment experience," Oscar said.

Oscar also underlined the importance of education and financial literacy in dealing with the rapid development of the crypto industry.

"We believe that education is key to ensuring that investors can make the right and informed decisions. Therefore, we continue to strive to provide various educational resources for our users," said Oscar.

INDODAX provides INDODAX Academy educational platforms that can be accessed for free via Website, YouTube, and Social Media INDODAX. All can learn about blockchain and crypto from zero to powerful.