THECRYPTO.WATCH – Fluctuating crypto values always attract attention. In 2021, crypto transactions increased compared to the previous year. Not only abroad, even in Indonesia crypto transactions have experienced a significant increase.
Opportunities for the development of the crypto market in Indonesia are indeed fast. That is also what makes Binance Holding Ltd, which is a giant crypto exchange, cooperates with a subsidiary of PT Telkom Indonesia. Together with MDI Ventures these two companies want to build a new crypto platform in Indonesia.
In Indonesia, the number of crypto asset investors in October 2021 was recorded at around 9.5 million investors, according to data from CoFTRA. Meanwhile, in July 2021, it has penetrated IDR 478.5 trillion or crypto transactions increased 5 times in Indonesia. The average transaction value can reach IDR 1.7 trillion per day in the Indonesian crypto market.
Crypto Transactions Increased Multiple Times
The same thing about the increase in crypto transactions was also expressed by Luno, one of the global crypto asset trading platforms. According to transaction data on the Luno platform, there has been a 4 times increase in crypto transactions during 2021 compared to 2020. Customers have increased by up to 75 percent.
Jay Jayawijaya Ningtyas, Country Manager for Luno Indonesia, said that Indonesia has the potential to become one of the largest crypto players in Southeast Asia. It is proven that the increase in the number of active crypto investors in Indonesia has increased almost five times, with a third of them dominated by Bitcoin investors.
Crypto Education Program
The popularity of crypto is indeed expanding to almost all countries in the world. However, there are only 300 million registered investors and around 18,000 business entities that use crypto.
According to research conducted by Luno, around 62 percent of Indonesian respondents said they did not invest in crypto assets because they did not understand how it worked. That’s why Luno held a crypto investment education.
The company is optimistic that this program will be a good starting point in increasing crypto adoption. According to Luno, people will feel more confident and secure when entering the transaction market later. It is expected that Crypto transactions will increase even higher in Indonesia, Luno’s second largest market in Asia.
