Buying Bitcoin in Indonesia
Although there is still debate in Indonesia whether corruption has improved or remained much the same since Suharto died, one thing no one is debating is bitcoin being more valuable to store value than the Indonesian Rupiah. Seriously, how bad can the Rupiah get before some of the corrupt officials realize they can’t save a crashing currency?
Best Bitcoin Exchanges in Indonesia
The most popular place to buy bitcoin in Indonesia has been Indodax, although the verification process is quite extensive. It might actually be one of the most difficult out there, with scanning a picture of the user holding holding their SIM (Surat Izin Mengemudi) or passport. Considering the corruption throughout Indonesia, it might be better to use one of the bitcoin exchanges located outside of the country. There are also the anonymous exchanges and options below the popular Indonesia bitcoin exchanges below.
The best bitcoin exchanges in Indonesia for 2020 are:
| Trusted BTC Exchanges | Indonesia | Type | KYC | Currencies | |
|---|---|---|---|---|---|
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Indodax | Exchange / Trading Platform | Yes | IDR, BTC, ETH, LTC | Continue |
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Remitano | Peer to Peer | Yes | IDR, VND, CNY, MYR, SGD, USD, BTC, ETH, LTC | Continue |
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LocalBitcoins | Peer to Peer Bitcoin Buying and Selling | Yes | IDR, SGD, CNY, USD, EUR, BTC, LTC, ETH | Continue |
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Coinhako | Exchange / Trading Platform | Yes | VND, SGD, MYR, IDR | Continue |
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Bitit | Exchange / Trading Platform | Yes | HKD, KRW, SGD, CNY, BTC, ETH, LTC | Continue |
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BTCC | Exchange / Trading Platform | Yes | USD | Continue |
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LakeBTC | Exchange / Trading Platform | Yes | All National Currencies, BTC, ETH, LTC | Continue |
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EXMO | Exchange / Trading Platform | Yes | USD, RUB, EUR, TRY (Cashback on Trades) | Continue |
Anonymous Bitcoin Options for Indonesians
Every country throughout the world needs to have a few anonymous bitcoin options for people to buy and sell their bitcoin with cash from time to time.
If the economic stimulus measures that the government has taken can’t turn the economy around, at least Indonesians can store Rupiah in bitcoin and not have their wealth depleted when the currency dies. Especially with the Indonesia government still deciding how to “control” bitcoin, it is probably a good idea to use anonymous exchanges in Indonesia.
The best anonymous bitcoin exchanges for Indonesians currently are:
| Anonymous Exchanges | Indonesia | Type | KYC | Currencies | |
|---|---|---|---|---|---|
 | HodlHodl | Peer to Peer BTC Exchange / Trading Platform | No | IDR, CNY, SGD, EUR, USD | Continue |
 | BISQ | Anonymous Person to Person Exchange / Trading Platform | No | AUD, CAD, CNY, EUR, GBP, INR, JPY, RUB, SEK, ZAR (More) | Continue |
 | Paxful | Anonymous Bitcoin Purchases | No | Western Union, MoneyGram, Visa Prepaid Cards, Amazon Gift Cards | Continue |
 | Changelly | Anonymous Bitcoin and Altcoin Buying | No | BTC, ETH, LTC and Hundreds of Altcoins | Continue |
 | Binance | Trading Platform | No (under 2BTC) | BTC, ETH, LTC, Hundreds of Alt-coins | Continue |
 | CoinMama | Exchange | Under $150 No | Visa, MasterCard, AUD, CAD, EUR, GBP, INR, JPY, NZD, RUB, SEK, ZAR | Continue |
Other Options for Buying Bitcoin in Indonesia
There is only one bitcoin ATM in Kuta, Bali and the fees are quite high. The options in nearby Australia and Malaysia to buy bitcoin aren’t any better. For those looking for a good price, it is rarely found with a bitcoin ATM. Heading to Vietnam is the lowest fee Bitcoin ATM at 1%, for something relatively close to Indonesia.
The bitcoin meetups throughout Indonesia are a good place to meet holders willing to sell for Rupiah. The nearby exchanges people in Vietnam and China will sell to multiple countries, although the pesky identification requirements will still be involved with the regulated exchanges.