Bitcoin offers many advantages, such as:
- Bitcoin transactions offer several advantages, such as low transaction fees and faster processing compared to fiat currency transactions.
- Bitcoin transactions are especially useful for international remittances.
- Bitcoin payment options have improved following technological advances such as Lightning Network.
- Bitcoin transactions can also be made by people who do not have a bank account.
How difficult is it to make a Bitcoin payment? Bitcoin payments are easier to make than debit or credit card purchases and can be received without a merchant account.
One million users make bitcoin transactions per day
However, it is likely that as wallets increase, so will the number of new Bitcoin users. According to Bitinfo and Glassnode, the number of people making daily transactions has steadily increased since January 2020, from an average of 600k-700k to around one million per day.
Each Bitcoin is a sort of a computer file stored in a “digital wallet” app on a smartphone or computer. Other people can send Bitcoins (or a portion of them) to your digital wallet, and you can send Bitcoins to other people.You can buy Bitcoins with ‘real’ money. You can sell things and get paid with Bitcoins.
A national identity card (KTP) or other acceptable ID for the KYC process.
A private and secure internet connection, as public WiFi connections can pose security issues.
An account with an exchange or broker that may be used in Indonesia.
A mobile phone to verify your identity using two-factor authentication (2FA).
A bank account where you can deposit money in fiat currency (Indonesian Rupiah) to buy cryptocurrencies.
A crypto wallet to store crypto assets. Most exchanges offer built-in wallets, but it’s better to use a cold wallet for added security.
Buying Bitcoin in Indonesia is relatively easy and completely legal. First, you need to register with a broker, app, or exchange and go through a KYC (Know Your Customer) process.
For a list of exchanges that Bitcoinlogin suggest please click HERE
No one owns the Bitcoin network, just like no one owns the technology behind email. Bitcoin is controlled by all Bitcoin users around the world. Even if developers improve the software, they cannot force a change to the Bitcoin protocol, as all users are free to choose which software and version they use.
Bitcoin mining is performed by high-performance computers that solve complex mathematical problems. These problems are so complex that they cannot be solved by hand and are so complicated that they overwhelm even incredibly powerful computers
Yes, Bitcoin is legal. Cryptocurrencies were legalized in September 2018 when the Ministry of Commerce approved the trading of bitcoin (BTC) and crypto assets as commodities. The Futures Exchange Regulatory Authority (Bappebti) is responsible for regulating cryptocurrencies and blockchain in Indonesia.