Bitcoin Forum

Hey  :)
Iam currently studying on Bali. Iam thinking about buying some new bitcoins or altcoins.
But i cant find clear statements about the legal situation in this country.
So is it possible to buy bitcoin here ? Or is it illegal and it is dangerous to buy it here ?
Which exchanges are safe to use ?

Thank you for your answers! Terima kasih :)

Exchanging crypto is still allowed here, you're just not allowed (https://www.coindesk.com/indonesias-central-bank-cryptocurrency-payments-not-legitimate/) to make any payment with crypto. The biggest Indonesian exchange is indodax.com so that's my recommendation. However, you need to comply with their KYC procedure before making fiat (IDR) transaction.

Bitcoins and mostly other altcoins according to SEC is not securities but currency. There is no a clear regulation about bitcoin in Indonesia but if U search on googles, a lot news that Indonesian Central Bank (BI) clearly states that Bitcoins and Other Altcoins would never be accepted as payment or legal currency in Indonesia. Possible to buy bitcoins in Indonesia, and it is very safe at this site https://indodax.com/ ; https://www.luno.com/en/ ; and https://coinone.co.id/ in the near future.

Central Banks Authority around the world very dislike Bitcoins and Co.  ;)

Terima kasih!
Is it possible / safe to use coinbase.com, binance and kucoin too?
or should i stick to the local exchanges?

its safe to buy bitcoin here, at indodax.com but i recommend to withdraw bitcoin to your own wallet just to be safe. i also recommed to buy TEN.

Yes, it still possible, and you can use another exchange too. There's no restriction for it.
Most people in indonesia that use local exchange just for converting their crypto assets to IDR, or IDR to crypto. Because local exchange support local payment and easy to use.

okay thanks, that is good to hear. So maybe i can stick to my common exchanges from my home country :)

thats great, you can arbitrage by buying on coinbase then sell to indodax. i'm just looking for someone who can buy on coinbase to sell on indodax. i'm livin on bali does to

I suppose theres no official regulation to date that stated bitcoin is wheter legal or illegal, I guess for now it is still okay to have bitcoin but you might not be able to use it for transaction at the moment. cmiiw ;D

Hukum bitcoin di indonesia legal di bali ada kantornya bila di indonesia ilegal sudah tidak ada lagi pemain pemain bitcoin di indonesia dan pemerintah juga bakal memblokir situs situs bitcoin

You can use all available exchange if you want to trade your Bitcoin, but if you want to cash out your bitcoin and you cant do KYC ( because Indodax require Indonesian ID ) you can use LUNO. Luno have low fee and easy to use.
BTW trading at coinbase.com is not available in Indonesia

Jika agan mau membeli bitcoin ataupun altcoin di indonesia boleh-boleh saja gan, sampai sekarang tidak ada yang melarang untuk melakukan transaksi tersebut. Yang tidak bisa agan lakukan adalah melakukan pertukaran dengan menggunakan mata uang crypto, karena sampai sekarang indonesia belum melegalkan hal tersebut.