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Review on Poloniex by Adejoh Samuel

Indodax Has Lots Of Things For Indonesians

These days, most countries are putting their own companies into the blockchain world. Take for example Pakistan with their own cryptocurrency, PakCoin. These companies or projects happens to be centralized meaning it is most times kept in the care of government bodies (although PakCoin is still decentralized, I still feel in less than a year from now, the government would take control of it). Another example of a project focuses on a specific nation is Indodax which is focused on Indonesians although it allows other Nationals to access their services. It is an exchange platform that allows the trading of both fiat (with the Indonesian's national currency, Indonesian Rupiah (IDR) being the only fiat accepted) and cryptocurrencies (like Bitcoin, Ethereum, Ripple, Bitcoin Cash and Litecoin with many others not mentioned). It was founded by Oscar Darmawan who still happens to be the CEO on the 15th of February 2014 as Bitcoin Indonesia and later changed its name on the 14th of March 2018 to Indodax. It is a centralized exchange platform with almost 2 million active users (around 1.6 million now), it has most of it's users from Indonesia I guess because the company is focused on them in a way that it allows only their national currency and deposits made in this Indonesian Rupiah can be executed immediately.

As for the trading fee, the Indodax exchange platform doesn't for any crypto to crypto trade (virtually unheard of in any exchange platform). They do charge for readings involving both fiat and cryptos, they leave makers without fee and charge takers 0.3%. They also rewards users for every referral made by giving them 25% commission from their referrals trading fees for the first three months. The Indonesian's largest cryptocurrencies asset market happens to have a special quality. It has its services opened even during festive periods. Meaning u can still exchange your Bitcoins or any other cryptocurrencies to the Indonesian Rupiah on Christmas day! 🤭🤭 This happens to be the first company with that quality. Their interface has been simplified recently and they have promised to keep the site updated. The headquarters is based in Jakarta Indonesia and happens to use the 2FA as a means of securing funds.

Pros & cons

  • They charge no fee for crypto to crypto tradings
  • Their trading fee is affordable
  • Their interface has been simplified for easy access to their services
  • The project is populated as it boasts of more than a million users actively on their site
  • The Android and iPhone operating systems applications has been made available for download in their respective stores
  • The exchange platform has a large number of cryptocurrencies available for trading
  • The company has its services available to be accessed even during festive periods
  • The company happens to be Indonesians focused. This can be seen in the fact that they accept one fiat which is the Indonesia's local currency, Indonesian Rupiah
  • The fiat currencies it accepts is limited to just Indonesian Rupiah
Killer Bean
December 20, 2020
I Dont understand my fellow author, you wrote on indodax instead of poloniex, but with what you've written, Indodax is a very nice exchange even for Indonesians. Indodax has relatively cheap fees.