Cryptocurrency Di Indonesia – Indonesia is a Southeast Asian country with 275 million people and a rapidly growing economy. Its current GDP is 1.4 trillion US dollars. The country is young, tech-savvy and has a vibrant tech economy in e-commerce, fintech, online gaming and more. According to the Chainanalysis 2022 index, Indonesia ranks 20th in the global cryptocurrency adoption index.

Credit card penetration in the country is low, with 16.5 million cards in circulation, down 3% since the coronavirus crisis. Although there are more debit cards, they are primarily used to withdraw cash or purchase utilities. It is not valid for domestic digital asset import or export.

Cryptocurrency Di Indonesia

In contrast, other payment methods are popular in Indonesia, with payment methods such as Ovo, Dana, GoPay and Shopee being widely used among locals. Ovo, with nearly 100 million users, is the most popular fiat wallet in the country, followed by Gopay and Dana, with 38 million and 30 million users, respectively. In addition, Doku VA is popular due to the ease of payment through virtual accounts.

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TransFi specializes in fiat-crypto onboarding and the widest range of local currency payment methods from emerging markets, particularly Asia, with 80%+ conversion rates and low fees. The integration with TransFi allows users of exchanges, wallets, and DeFi protocols to purchase cryptocurrencies using popular payment methods in Indonesia, including Ovo, Dana, Shopee Payments, and local banks such as Mandiri and BCA.

Web3 payments are simplified for all users and we help you buy/sell cryptocurrencies using your favorite local payment method. It was great to learn about the cryptocurrency investment environment in Indonesia with the 2021 Indonesia Cryptocurrency Investor Report.

The survey collected the opinions of 21,052 users of Indonesia’s largest cryptocurrency exchange with over 2 million users. The report will be divided into three different sections:

Welcome to Part 1: The Growth and Popularity of Crypto Assets in Indonesia. The next two parts will be released in the coming weeks.

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As mentioned above, all survey respondents are Indonesian cryptocurrency exchange users, so the sample should be a good representation of a typical Indonesian investor/trader.

Looking at the gender breakdown of respondents, 91% of respondents are male. This gender imbalance is similar to what is happening on all cryptocurrency trading platforms. For example, Business Insider noted that 85% of eToro crypto traders in Israel are men. If we look at stock trading platforms like Robinhood and eTrade, we see a similar trend of male investors making up the majority of users (about 60-75% of investors), though not cryptocurrency platforms.

While potential reasons for women’s low market participation include a lack of investment exposure and risk aversion, the big question remains how to remove barriers to women’s investment.

Additionally, the reported age indicates that young people are more likely to use cryptocurrencies. As can be seen from the figure below, Indodax users are concentrated in the age group of 20-30 years. After 30 years, the number of users decreases sharply as age increases. The highest number of male reports (940) was 23 years old, and the highest number of female reports (96) was 30 years old.

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In terms of educational attainment, 48% of respondents said their highest level of education was high school, followed by 44% who completed college. This university graduation rate is high compared to 17% of youth in Indonesia in 2017. Additionally, these numbers include hundreds of respondents age 22 or younger who answered that their current occupation is “college student,” so they may be a more educated group than the numbers indicate.

Using demographic information, we begin to draw a picture of a “typical” Indonesian cryptocurrency investor:

The majority of respondents heard about cryptocurrencies in the last few years. Although there seems to be a tendency for people to hear about cryptocurrencies in January, this may be because respondents remember the year they heard about cryptocurrencies, and were then included in the survey before January. Ignoring the January dip, we can still observe cryptocurrency awareness: the number of people hearing about cryptocurrencies is increasing year by year, especially in early 2018 and late 2020.

When we plot the number of people aware of cryptocurrencies against the price of Bitcoin, we see a strong correlation between them. There may be a positive feedback loop here: the more people learn about cryptocurrencies, the higher the value of Bitcoin; When the price of BTC goes up, it gets more exposure in the media and word of mouth etc. .

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“As the number of users grows, the value of each coin will increase. It has the potential to create a positive feedback loop; as users increase, the value will increase, which can attract more users to increase the value.” Satoshi Nakamoto

There is often a lag time between the first hearing about a crypto asset and the first purchase. The chart below shows another uptick in buying in early 2018, but most of the buying is concentrated in late 2020. Our data shows that respondents waited an average of 539 days to first hear about a crypto asset and make their first purchase.

Here’s an important question that can be explored further: What motivates people to make the first purchase? Our data revealed that 69% of respondents read crypto-asset and blockchain-related news on a daily basis. Articles and publications from companies like Coindesk, Cointelegraph, and Coinbase seem to be shaping public opinion about cryptocurrencies.

Our next question in the survey further confirms the importance of online publications in the cryptocurrency market: What tools do you use to make decisions when buying/selling crypto assets?

Indonesia’s Crypto Industry In 2021: A Kaleidoscope

Although Telegram is not a dominant player in the US, it is one of the most popular messaging apps in the world behind Whatsapp, Messenger and WeChat. It is known for its focus on privacy and had approximately 500 million active users as of January 2021. It offers a popular platform for several groups focused on cryptocurrency-related news and analysis, a full list of which can be found here.

Cryptocurrency investments are measured against other asset classes such as stocks, bonds, real estate, and commodities (gold, oil, etc.). When asked about their preferences for cryptocurrencies and other assets, the mood among all investors surveyed was largely bullish. The lowest percentage of respondents who agreed or disagreed that crypto assets are better was real estate at 64.4%, but preferred crypto assets!

Our data bodes well for the future of cryptocurrencies. Our 20,000+ respondents provide statistics to consider:

Looking at the plot of respondents predicting BTC and ETH prices by the end of 2021, two things stand out:

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If we look at the BTC and ETH forecasts separately, we see that the majority of BTC’s weight is between $400-70k, while the majority of ETH’s weight is between $2000-3500.

It should be noted that these predictions are for January and February 2021 – when the price of BTC fluctuates between $30,000 and $52,000, and the price of ETH is between $1,000 and $1,800 USD. A similar survey conducted at the end of March 2021 would likely yield an optimistic forecast given current prices.

When asked about their three favorite crypto assets, respondents’ top 5 choices were: Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC), and Ripple Coin (XRP).

Dogecoin was originally created as a joke in 2013, and influencers like Elon Musk and Mark Cuban have tweeted about it several times since the beginning of February, after Dogecoin was released, it became popular. Whether it will become a leading cryptocurrency in the future remains to be seen, but it has recently caught the attention of many people – and the Indonesian market is no exception.

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Risk Warning: We do not provide investment, financial, accounting, valuation, tax, legal or other professional advice. All decisions to buy, sell or trade any digital assets using the Services are made solely by you, and you are solely responsible for such decisions.

A digital asset marketplace where users can unlock cryptocurrencies and blockchain tokens and access their applications. Lebih dari 18,000 bisnis sudah nemabe payment cryptocurrency. India has 100 jute users followed by USA with 27 jute users and Nigeria with 13 jute users.

Indonesia’s Dilansir dari Triple A ranks in the top 30, just below Malaysia and Vietnam. dipokilakan

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