THERE IS NO DOUBT IN INDONESIA
Soon there will be more Bitcoin investors there than stock traders
By now both the Indonesia Digital Asset Exchange (Indodax) and Indonesia Stock Exchange can boast with more than a million members. The only difference is that, while the stock exchange needed more than 100 years to gather a million members, it took Indodax only 3 years to achieve the same.
As cryptocurrencymagz.com writes: “The Indonesia Digital Asset Exchange (Indodax), founded in 2014 as Bitcoin.co.id, has 1,147,430 members already on board, according to its website. That is just a bit shy of the Indonesia Stock Exchange, which opened in 1912, with only about 1.18 million registered participants according to data from the Indonesia Central Securities Depository. In fact, as the Indodax is the biggest in the country, but not the only venue to trade crypto-currency for rupiah, it is possible that there are already more Bitcoin investors than stock traders in Indonesia.”
Indodax Chief Executive Officer Oscar Darmawan optimistically notes that they expect to get to 1.5 million members by the end of 2018. His prediction is based on the fact that there is a daily number of 3,000 new members signing up on Indodax. He says “Most people are trading in Bitcoins though transactions in ethereum has increased significantly of late.” Currently the daily trading volume of the crypto-currency exchange is around 100 billion rupiah ($7.3 million) on average. They expect to be easily able to double this figure soon.
Indonesia is not the only example to demonstrate crypto popularity. Venezuela has already created its own national crypto-currency, “Petro”, and already started its pre-sale. In Brazil there are twice as many people who invest in Bitcoin than those who trade traditional stocks.
Though traditional securities are still popular in Indonesia, just like everywhere else, Bitcoin trading has become a powerful opponent to classic investment options.