If you want to start trading on Indodax, the first step is to create an account first. You can visit the Indodax website and click the “Register” button in the upper right corner of the page. After that, follow the registration instructions on the next page.
Once you have an account, you need to complete the verification process. Indodax requires all users to do KYC (Know Your Customer) verification, to ensure your identity and documents. We recommend you to get level 2 verification, so you can enjoy the higher features on this platform.
How to Make a Deposit on Indodax
After verification, you can start making a deposit to buy cryptocurrency. Here are some easy steps to make a deposit on Indodax:
| Bank | Transfer Fee | Transfer Time |
|---|---|---|
| BCA | Free | Instant |
| Mandiri | Free | Instant |
| BRI | Free | Instant |
| BNI | Free | Instant |
Besides bank transfers, Indodax also accepts deposits through several payment methods such as Dana, OVO, and LinkAja. However, make sure you read the terms and conditions for each payment method.
How to Trade on Indodax
Well, when you already have a balance in your Indodax account, you can start trading on this platform. Here are some easy steps in trading:
1. Choose Trading Pair
Indodax provides many trading pairs, such as Bitcoin (BTC) with Rupiah (IDR), Ethereum (ETH) with BTC, Dogecoin (DOGE) with IDR, etc. Choose the pair you want, and click on the “Marketplace” tab in the main menu.
2. Analyze and Monitor Price
Before making trading decisions, be sure to observe prices and analyze market trends. Indodax provides price charts and technical analysis, so you can effectively monitor price fluctuations.
3. Place an Order
Once you have decided to buy or sell cryptocurrency, you can go to the “Buy/Sell” tab and fill out the order form. Make sure you fill in the amount and price correctly, and click “Buy” or “Sell”.
4. Confirm and Complete Order
Before finalizing the order, make sure to double-check your order and ensure that the price and quantity you agreed are correct. After that, click “Confirm” and your order will be completed.
Advantages and Disadvantages of Trading on Indodax
To help you make trading decisions, here are some advantages and disadvantages of how to trade on Indodax:
Advantages:
1. Easy to Use: Indodax is designed user-friendly, making it easy to use even for beginners.
2. More Trustworthy: Indodax has been operating since 2014 and has been licensed by the Indonesian government. The platform also implements advanced security features to protect its users.
3. Many Trading Pairs: Indodax offers many trading pairs, so you can find the pair that suits your needs.
4. Lending and Staking Features: Indodax also offers lending and staking features, which generate interest for cryptocurrency owners.
Disadvantages:
1. Transaction Fees: Indodax charges a hefty transaction fee of 0.3% for buying and selling cryptocurrencies.
2. No Auto Trading Feature: Indodax does not provide an automated trading feature, so you have to trade manually.
3. No Mobile Application: Indodax is only available in desktop and web versions, there is no mobile application that can be downloaded.
How to Trade on Indodax – Q&A
1. Is Indodax Safe and Reliable?
Yes, Indodax has been operating since 2014 and has a license from the Indonesian government. The platform also implements advanced security features to protect its users.
2. How to Verify on Indodax?
After registering, you need to fill in the requested data and documents on the verification page. Indodax will verify your data within 24 hours.
3. How much is the transaction fee on Indodax?
Indodax charges a transaction fee of 0.3% for the purchase and sale of cryptocurrency.
4. Does Indodax Provide Mobile Application?
Not yet, currently Indodax is only available in desktop and web versions.
5. What Happens If I Forget My Indodax Account Password?
You can access the “Forgot Password” page and follow the instructions. Indodax will send you an email or SMS with a link to change your password.
6. How Do I Know the Trend of Cryptocurrency Price?
You can monitor price charts and perform technical analysis on the Indodax platform.
7. What If I Want to Buy a Cryptocurrency that is Not Available on Indodax?
You can look for another exchange that provides the cryptocurrency you want.
Conclusion
Starting cryptocurrency trading can seem complicated, but with the right platform, like Indodax, you can trade easily and safely. We hope this guide provides useful information for those of you who want to start trading on Indodax. Remember, always do your research and analysis before making trading decisions!
Disclaimer
The information in this article is for general guidance only and does not constitute investment advice. The risks of cryptocurrency trading are always present and readers should do their own research and analysis before trading.
