Indonesia continues to solidify its position as a rapidly growing crypto market in Southeast Asia. The number of cryptocurrency investors in the country has steadily increased over the past few years.
As per the Commodity Futures Trading Regulatory Agency (Bappebti), in May 2023, there was a 0.87% growth in the number of crypto investors in Indonesia, indicating an addition of 15 thousand new individuals. This brought the total number of crypto investors to 17.4 million. Compared to the previous year, this growth was more significant, with an increase of 3.28 million individuals, marking a 23.23% rise compared to May 2022.
Resna Raniadi, Upbit Indonesia’s VP of Operations, expressed that the surge in crypto investors reflects the Indonesian public’s interest and trust in the crypto asset market. Other crucial factors include government support for financial sector innovations and healthy crypto assets.
Given its active presence in Indonesia, Upbit emphasizes the importance of enhancing literacy and education about crypto, especially for novice investors. Many newcomers enter the crypto market due to the “Fear of Missing Out” (FOMO) effect, often without adequate understanding of market volatility and associated risks.
Resna Raniadi highlights the importance of understanding security when investing in crypto assets. Investors should opt for trustworthy crypto exchanges that are licensed and registered with Bappebti. Upbit also recommends users employ security methods like two-factor authentication (2FA) and check whether the exchange platform notifies about any suspicious activities.
The Indonesian government has taken strategic steps to bolster the national digital economy, including overseeing digital assets by Bappebti and establishing infrastructure for crypto commodity trading. This move aims to offer more protection to the public.
In conclusion, Resna Raniadi stresses that novice investors should be selective in choosing reliable and officially licensed crypto exchanges. The selection of deposit and withdrawal methods is also crucial to streamline the process. With these steps, crypto investors in Indonesia can feel safer and more secure in their investments.
