Indonesia, the second largest crypto adopter without legality.

[oppasong]

I strongly agree with your opinion which says that crypto users in Indonesia are very much because they realize that crypto is one of the best and most profitable investment places so that many Indonesian people who enter the crypto world just want to reap huge profits.

[TheClownSong]

Indonesia dont have cryptocurrency regulation but having local exchanger and daily transaction big enough. Many people in Indonesia knowing about cryptocurrency or bitcoin and many of them investing their money in crypto because people in Indonesia can deposit and withdrawal with local banks

[adzino]

-snip-
 Their reason is that bitcoin is the safest and most profitable investment product.

And this is where they are going wrong. First of all, bitcoin is not the safest option to invest your hard money on. At least if you are thinking of short term investment. The price fluctuation is very high and the price might skyrocket or get dumped without any prior notice. And they are using bitcoin just to make profit. They will cash out and go back to fiat once their profit goal is reached. So this means that they have not adopted it usage, they are just using it as a form of asset storage.

[Pom_bensin]

based on the results of a survey from TNS that collaborated with one of the LUNO crypto exchanges, they concluded that 63% of Indonesian people knew the crypto world.

they realize that crypto is a solution to create a better economy. this percentage defeats Malaysia, France, Italy and Romania.

So, Indonesia is in second place after South Africa with a percentage of 70%.

of 63% of the Indonesian population, they have more bitcoin. Their reason is that bitcoin is the safest and most profitable investment product.

cannot be denied if Indonesia is one of the countries that has the largest percentage of bitcoin usage. now Indonesia only needs legality from the government, I'm sure if Indonesia has these legalities it will certainly continue to be able to make cryptocurrency increasingly large, especially bitcoin.

[SnapDown22]

I think this survey is a bit true, because Indonesia is indeed an average bitcoin investor invests in bitcoin, but it is only for the middle class and above, the lower classes cannot recognize bitcoin, not to invest, to follow the development of bitcoin is rather difficult, because indeed they have limitations on that.

I agree and I am Indonesian so it is true that you say Indonesia at this time may and is allowed to manage and play Bitcoin as long as you know yourself and do not harm yourself and the country

[bellamente]

Indonesia has always been a good state for the development of not entirely legitimate areas of business.

I am glad that there is such a place, because many governments are afraid of losing control over cash flows.

[Thyristor]

In indonesia crypto is illegal staff? Pundi is indonesian project i think because with legalization how PUNDI play big roll you can see here https://www.youtube.com/watch?v=hBiYfXtWtoA someone paying in restaurant bill via Pundi wallet i just surprised because this is physically working.

[131tc01n]

wow amazing, it cannot be denied that Indonesia does have an important role in the world of crypto.Other positions are also among the countries with the third largest population in the world, I hope cryptocurence will continue to grow in Indonesia with clear legality

[tikaka]

I am happy to know this. A densely populated country and they allow the use of bitcoin. Indonesia is also famous for its modern technology. This is a necessary condition to help people access electronic money. The Indonesian government does not impose any regulation on electronic money, so people are free to trade bitcoin and keep bitcoin for the future. Bitcoin is helping people in this country have a better life.

[thelemot]

based on the results of a survey from TNS that collaborated with one of the LUNO crypto exchanges, they concluded that 63% of Indonesian people knew the crypto world.

they realize that crypto is a solution to create a better economy. this percentage defeats Malaysia, France, Italy and Romania.

So, Indonesia is in second place after South Africa with a percentage of 70%.

of 63% of the Indonesian population, they have more bitcoin. Their reason is that bitcoin is the safest and most profitable investment product.

yes because there are a lot of Indonesians, and many people like bitcoin because of the blockchain system that bitcoin has to facilitate transactions, and they like investment

[shadyrifles]

Despite the prohibition, Indonesian officials have taken a brave stance towards the adoption of cryptocurrencies and blockchain. Last year, Bank Indonesia restrict the corporate and fintech companies to use the cryptocurrencies for transactions without prohibiting the trade of digital tokens itself. The Indonesian regulators are positive toward blockchain technology and unveiled that they have the plan to issue its own cryptocurrency or digital Rupiah based on this technology. You can read here for more information http://www.thejakartapost.com/news/2018/01/29/bank-indonesia-considers-issuing-digital-rupiah.html

[cpoer2011]

Are you sure about the statistics? But it can be true because many people of Indonesia now involved in cryptocurrency and some of them should doing their KYC before converting their crypto into Fiat currency (IDR) in a local crypto market.

[KingScorpio]

based on the results of a survey from TNS that collaborated with one of the LUNO crypto exchanges, they concluded that 63% of Indonesian people knew the crypto world.

they realize that crypto is a solution to create a better economy. this percentage defeats Malaysia, France, Italy and Romania.

So, Indonesia is in second place after South Africa with a percentage of 70%.

of 63% of the Indonesian population, they have more bitcoin. Their reason is that bitcoin is the safest and most profitable investment product.

nothing is legal about crypto and nothing ever will be, because it is questionable, what legal is supposed to be especially in 50.5/49.5 percent democracies in the west.

[pinoyden]

Are you sure about the statistics? But it can be true because many people of Indonesia now involved in cryptocurrency and some of them should doing their KYC before converting their crypto into Fiat currency (IDR) in a local crypto market.

indonesia isnt a large country and there are other countries in asia that is more involved in cryptocurrency like for example singapore  , japan , philippines .  indonesia isnt also a wealthy country so think there is only a few crypto users in this country , that is why i dont agree on the title of this topic  .  indonesia isnt the second largest crypto adopter  .

some of them should doing their KYC before converting their crypto into Fiat currency

no thats not true ,  converting a crypto to local currency does not required a kyc because a kyc is only for investing on an ico  .  kyc can also be found when creating accounts on other high end platform .

[Amevalentine]

Indonesia, the fourth most populous country in the world, stands behind the United States, with a strong and vibrant Bitcoin community. The vast majority of Indonesia's population do not use banks, and the Rupiah is one of the most heavily traded Bitcoins in the world.

Indonesia and I are Indonesian and I think Indonesia is making progress in this short period of time and yes this is Indonesia, friends are friends and cooperate with Indonesia

[mensahkkofie]

Indonesia has a large population so it is not surprising to see this kind of statistics. Bitcoin is really going forward and I believe most countries can learn from the exploits of countries where bitcoin has gained grounds like Indonesia.

[djadmika]

indonesia by far is one of hugh asean country with population of 200,000,000 people.  the adoption rate of crypto is rather high.

267 million more precisely and we are the country with the largest population in Southeast Asia.

http://bappebti.go.id/resources/docs/peraturan/sk_kep_kepala_bappebti/sk_kep_kepala_bappebti_2019_02_01_w9i365pf_id.pdf

And for the issue of cryptocurrency legality in Indonesia, as stated by OP, it is very clear. There are already regulations that are the legal basis for trading cryptocurrency assets as one of the tradable commodities.
The regulation certainly can stimulate the interest of the Indonesian people to accept and develop cryptocurrency, certainty and legal protection and also regulate the provisions on anti-money laundering and the prevention of funding of terrorism. This will certainly make Indonesia a cryptocurrency center in Southeast Asia.

[samuraijin]

I am aware of that, that the growth of bitcoin in Indonesia is very quickly absorbed by the people, indeed it cannot be denied anymore even every year it continues to increase, not only large companies even in the lower classes have taken part in developing bitcoin in Indonesia, even though they play privately, but as time goes by they are already brig lit developing bitcoin publicly ...

[CTRLX]

I believe crypto could be making people's life become better, especially in developing countries, bitcoin ever make a huge publicity, the President and the Minister ever mention about crypto, the unemployment rate in Indonesia is quite high and we know how crypto could be the source of income, so crypto are pretty popular in Indonesia

That’s for sure, crypto is a great source of income especially in developing countries. If the unemployment rate in a country is very high, people just start to look for other options how to earn money and become their life better. And crypto market offers many opportunities for that.

[bitcampaign]

if you read it in the media out there, you must provide the original link where you can get 63% of the survey, at least ensure that Indonesia is the second largest krypto user without legality, I am Indonesian and believe that the users you write are 63% too much , I think users are only around 15% of all Indonesians