Continues To Increase, The Number Of Crypto Investors In Indonesia Almost Reaches 17 Million

Crypto illustration (Photo: Unsplash)

JAKARTA - The crypto asset industry continues to show improvement. This is evident from the latest report released by the Commodity Futures Trading Supervisory Agency (CoFTRA), which states that the total number of crypto investors in Indonesia reached 16.99 million people as of February 2023.

Not only that, the value of crypto asset trading transactions in Indonesia has also increased since early 2023.

It was recorded that in February 2023, the value of crypto transactions was IDR 13.8 trillion. It increased by 13.7 percent compared to January 2023 which was only IDR 12.14 trillion.

Tokocrypto's VP of Corporate Communication, Rieka Handayani, said that this revival moment was very much used by both investors and traders to revive the market, especially since the price of crypto assets has experienced an increasing trend in recent times.

"There are indications of an increase in transactions. The volume of crypto asset transactions, especially Bitcoin, is experiencing sustainable growth starting in early 2023. Crypto movement is currently based on slowing US inflation growth, rising interest rates to the banking crisis," Rieka said in a written statement received in Jakarta, Sunday, March 26.

Rieka also said that the growth of the crypto industry in Indonesia was driven by the high interest of the younger generation who were already investment literate.

Based on CoFTRA data, the demographics of crypto asset customers in Indonesia in 2022 are dominated by the younger generation from the age range of 18-24 years (28.2 percent) and 25-30 years (28.5 percent).

Interestingly, the student/student profession group (23.5 percent) is one of the most dominant in the background of crypto asset investors in the country.

The demographic average value of crypto asset transactions in 2022 also shows that 64.6 percent of many transact below IDR 500,000.

Meanwhile, the highest transaction above more than Rp. 100 million is only around 4.1 percent.

"Crypto is the most common type of investment for millennials, equivalent to stocks and mutual funds. Many young people see the opportunity to achieve good financial goals in the future through crypto," he explained further.

According to Rieka, the younger generation believes that there will be a large return return, in addition to the risks to be faced.

The very small barrier to entry and ease of access to crypto investment platforms are also the attraction of the high interest of young investors.