Cryptocurrency has been widely known by the people of Indonesia. However, the existence of this digital currency is still strongly rejected by the central government. In fact, it is not recognized by statutory regulations as a legal transaction or payment instrument in the country.

This is based on the regulation of Law No. 7 Article 1 Paragraph 1 of 2011, which explains that payment instruments accepted in Indonesia only use rupiah currency. However, the existence of Indonesian cryptocurrencies is still allowed and its status is still legal.

For information, Bank Indonesia also provides advice on storing and conducting buying and selling transactions as assets, but the risks that occur must be prepared to be borne by yourself. However, since February 2019 you don’t need to worry anymore, because there is already a legal umbrella through regulation no. 5 of 2019 which regulates the technical implementation of the physical market for crypto assets on futures exchanges. Then what kind of crypto assets should you choose and what are the advantages and disadvantages? Here is a complete explanation.

history of crypto

1. What Are Crypto?

Assets Crypto assets are also known as digital currencies that are used for virtual transactions on the internet network. Crypto assets have quite complex secret passwords. Its function is to protect and maintain the security of this digital currency which is known as “Cryptocurrency”. Please note, that the name comes from a combination of two words, namely “cryptography” which means secret code, and “currency” which means currency. The concept of cryptography has actually been known since the days of World War II.

At that time, Germany used cryptography to send secret codes so that they were not easily read by the opposing party. Unlike the case with conventional currencies that are centralized, digital currencies are actually decentralized. No party is present and acts as an intermediary in a transaction.

Payments with this digital currency or crypto take place from sender to recipient or peer-to-peer. However, all transactions made are still recorded and monitored in the Crypto Asset network system. Crypto Asset Miner is to record these transactions and earns commissions in the form of digital money that can be used.

For information, before being taken into account at this time, crypto assets have gone through a long journey that began in the 1990s or what is called the pre-Bitcoin era. Although the asset Bitcoin (BTC) was the first successful digital coin, previously there have been various attempts to create a digital coin that is capable of turning into an algorithm-based digital currency that knows no borders.

Before the Bitcoin era, at least there were several attempts to create a new technology-based financial system through the creation of B-Money, Bitgold, and hashish. However, these digital assets were never fully developed to this day.

The initial appearance of Bitcoin in 2008-2009 caused a stir because of the mystery that the public was trying to solve about who was actually the person behind the world’s number one crypto asset. Although sought by various state authorities, to this day it is not clear who the creator of Bitcoin is. It is not clear whether the figure is an individual or a group, only known to the public as a pseudonym that is Satoshi Nakamoto.

Satoshi Nakamoto had published a white paper projecting the need for an electronic peer-to-peer-based payment system that does not recognize the government, is secure, and is limited in number. Not only that, but he also invited other technologists and crypto enthusiasts to contribute to the growing cryptocurrency project. But after that, Nakamoto disappeared from the project and was never heard of again.

On January 3, 2009, Bitcoin was launched to the public at a price of US$0.0008 per chip. Then, in 2010 for the first time, Bitcoin was traded outside the digital world with a barter system. At that time, two pizza pans were selling for 10 thousand pieces of Bitcoin. If valued today, the two pizza pans sell for US$674.87 million.

Entering the 2010s era, Bitcoin began to be recognized by companies as a means of payment. WordPress, for example, first recognized Bitcoin as a means of payment in 2012 and was followed by, Expedia, Microsoft, and Tesla.

Along the way, the development of crypto assets has not always been smooth, as in 2013 when the Bitcoin price fell. Not long after reaching the price of US $ 1,000 per coin, the price of BTC plummeted to the level of US $ 300s per chip. At that time many investors were losing money and it took more than two years for the BTC price to return to the level of US $ 1,000.

Apart from price volatility, fraud and theft have also colored Bitcoin’s long history. In January 2014, Mt.Gox, the largest Bitcoin exchange platform in the world at that time, was suddenly hacked and went bankrupt. As a result of these hackers, as many as 850 thousand Bitcoins or the equivalent of US $ 500 million (at that time) were stolen.

Here are some types of Crypto Assets that are often used, including Litecoin, Ethereum, Monero, Ripple, and of course Bitcoin. Currently, there are more than 1,000 Crypto Assets circulating around the world, and there will be more in the future. 

1. Bitcoin (BTC)

2. Ethereum (ETH)

3. Polkadot (DOT)

4. Cardano (ADA)

5. Dogecoin (DOGE)

6. Solana (SOL)

7. Fantom(FTM)

8. Cosmos (ATOM)

9. Binance (BNB)

10. Ripple (XRP)

11. Curve (CRV)

12. Polygon (MATIC)

13. Stellar (XLM)

14. Swipe (SXP)

15. Filecoin (FIL)

16. Kusama (KSM)

17. Algorand ( ALGO)

18. Yearn Finance (YFI)

19. Tron (TRX)

20. Compound (COMP)

21. The Sandbox (SAND)


23. Maker (MKR)

24. Uniswap (UNI)

25. Balancer ( BAL)

26. The Graph (GRT)


28. Basic Attention Token (BAT)

29. Chainlink (LINK)

30. Synthetic (SNX)

31. SushiSwap (SUSHI)


33. Litecoin (LTC)

34. Enjin Coin (ENJ)

35. Terra (LUNA)

36. Tezos (XTZ)

37. Avalanche (AVAX)

38. Pancakeswap (CAKE)


2. Crypto Asset Functions

Crypto as a Transaction Tool

Basically, the principle of cryptocurrency itself is the same as the principle of economics, where the price will rise when there is a lot of demand. The more people who invest, the prices will also soar. However, this investment is included in the high-risk category.

Cryptocurrency Functions for Investment

Currently, there are many companies or organizations that have implemented payment tools using virtual currencies, from hotels, airlines, and restaurants, to applications. At least, there are two companies that have used this transaction tool, namely Overstock and Newegg. However, most companies only accept bitcoins.


Mining is something that is closely related to cryptocurrencies. Users are required to solve complex cryptographic puzzles to be able to confirm transactions and record them on a blockchain. The greater the power of the user, the greater the chance of being able to solve it.

3. How Crypto Asset Investment Works

So how does this crypto asset investment work? Here are some ways of working related to how to use cryptocurrency online payment tools.

Transaction Activities

If you routinely do cryptocurrency mining, then of course you can use the virtual currency for various types of transactions. Starting from activities on the exchange market by exchanging conventional currencies with bitcoin. Then personal expenses with a note, the company where you transact have provided currency payment facilities in digital form.

Furthermore, massive fundraising or crowdfunding aims to minimize transaction costs if the project that has been funded fails. The cryptocurrency exchange markets that can be found in America are ICE (Intercontinental Exchange), CME (Chicago Merchant Exchange), and CBOE (Chicago Board Options Exchange)

How To Determine The Value Of The Currency

Cryptocurrencies are created from well-encrypted and unique cryptography. Please note that the value of each type of cryptocurrency is the same as financial products, where when the demand is high enough with fewer miners, the value of the cryptocurrency will increase.

In that sense, the currency value of cryptocurrencies is volatile and can increase or decrease based on the availability of trust of the user. The top ranking of cryptocurrencies currently is bitcoin and followed by Ethereum.

4. The Advantages And Disadvantages Of Investing In Crypto Assets


The Advantages 

The following are some of the advantages possessed by cryptocurrencies.

  • Universal

Everyone can use cryptocurrency without any binding regulations and conditions.

  • Transparent

With digital currency, each user can see various transaction activities that have been carried out. Of course, this transparency also has a limit where you can’t see the person who made the transaction.

  • Have control over the privacy

In a sense, each user or user will be responsible for their own currency.

  • Fast and accurate

Finally, the advantage of this crypto asset is that transactions using virtual currencies are very fast when compared to transactions through banks.

The Disadvantages

Apart from the advantages, here are some disadvantages of using virtual-based currencies.

  • Not yet fully licensed

Some countries still do not allow this currency and is still considered illegal. Thus, for some countries, cryptocurrencies are not valid as legal tender online.

  • Opening security loopholes

It is undeniable that many people use cryptocurrencies for criminal purposes. They can carry out transactions illegally without being noticed by exploiting loopholes in the cryptographic code.

  • The existence of a password system

If you do not memorize or forget your own password, it will be very risky to lose money on the account that has been created.

5. Best Crypto Assets 2021


Here are seven of the best 2021 crypto assets to choose from for collection.

1. Bitcoin (BTC)

This digital currency may already be very popular among people who are interested in investing. This currency was created by someone under the pseudonym Satoshi Nakamoto in 2009. Since its existence, Bitcoin has managed to hold the title of the most popular digital currency.

Bitcoin is dubbed the King of Cryptocurrency by crypto experts because of its very high demand. However, the limited amount makes the exchange rate or price very high. Previously, Bitcoin was fairly cheap, only hundreds of silver per chip, but currently Bitcoin costs around IDR 692 million per chip. Not only that, ownership of Bitcoin does not require an identity alias can be owned by an anonymous person.

2. Ethereum (ETH)

Just like ADA, Ethereum was created as a security-focused smart contract platform built on natural philosophy and through academic research. Ethereum has also managed to occupy the second position that has quite high liquidity after BTC and among other cryptocurrencies.

This is due to a large number of currency trades, so the disbursement is quite easy when compared to other cryptocurrencies. Ethereum was first traded at a price of Rp. 41 thousand, but now the price of Ethereum has reached Rp. 47 million per chip.

3. Solana (SOL)

In April 2021, SOL or Solana touched the highest price of around Rp. 500 thousand more and looked strong for an increase. SOL itself was created as a solution because many are interested in the PoH or Proof-of-History blockchain system. One of the advantages of Solana itself is its faster transaction speed than Ethereum. Crypto investors are increasingly interested because Solana launched a Chrome Extension for her digital wallet last April called Sollet Wallet. This makes Solana’s usability similar to Ethereum. SOL is even predicted to rise even higher due to the many positive sentiments you know.

4. Cardano (ADA)

This cryptocurrency was created by a mathematician and entrepreneur, namely Charles Hoskinson. This one crypto asset has a blockchain proof-of-stake system, Cardano being one of the most secure cryptocurrencies today. Proof-of-stake is one of two regulatory mechanisms for cryptocurrency transaction processes.

This makes Cardano’s system more efficient than other cryptocurrencies because it allows mining based on the number of coins held. Not only that, this system does not rely on computers that waste electricity to process transactions and generate new Cardano units.

5. Axie Infinity Shards (AXS)

Next, there is Axie Infinity Shards which is one of the coins built on the Ethereum blockchain. Unlike other crypto assets, Axie is a blockchain game inspired by the Pokemon game. AXS has a central role in the gaming ecosystem. Axie features a play-to-earn option that creates sustainable use. Plus each character is its own non-fungible token (NFT).

6. Binance Coin (BNB)

Based on trading volume Binance is included in the cryptocurrency exchange. Initially, Binance was on the Ethereum blockchain, but BNB started to form its own blockchain. Since the initial offering of the Binance coin in 2017, the price of BNB has jumped from 10 cents to around US$415. Then, throughout the current year of 2021, the coin has gone up about 1,000 percent.

7. Wilder World (WILD)

Finally, Wilder World is a coin that just debuted in May 2021. However, investors can take advantage of WILD to speculate in small amounts. However, the drawback is that WILD doesn’t have a track record like the six coins above. In addition, Wilder World’s market capitalization is in the range of US$118 million.

6. Crypto In Indonesia


The Most Widely* Used Crypto In Indonesia:

  • Ethereum (ETH) : 89.1%

1 ETH = 43,410 TL

  • Bitcoin (BTC) : 36.7% 

1 BTC : 587,569.98 TL

  • Dogecoin (DOGE) : 29.4% 

1 DOGE : 2.00 TL

  • Solana (SOL) : 28%

1 SOL : 3.91 TL

  • Ripple (XRP) : 24%

1 XRP : 9.49 T

*According to 2,502 Internet users in Indonesia
Last Update: 01.05.2022

Best Crypto Wallets That Are Officially Licensed In Indonesia


Luno is still relatively new as the best crypto wallet and has recently quite popular in Indonesia. Through the activities of bitcoin users can easily make transactions for sending, storing, buying, and selling bitcoins. This Luno wallet also has branches overseas, such as Singapore, London, and Cape town. This platform can be accessed via the Android application or via a browser.


The wallet is one of the wallets of bitcoin. Electrum wallet is fast and simple. This platform can be run using various operating systems such as Mac, Windows, Android, and Linux. To handle various activities related to storing assets in bitcoin, the Electrum wallet uses remote servers and also has a seed phrase customization feature. This platform also has an open-source character. 


This Indodax crypto wallet is a pioneer in bitcoin wallets in the country. Therefore, this Indodax wallet is the most popular choice among beginners who are just getting into the world of digital money investing. Besides being useful for securing the crypto assets you have, this platform also provides flexibility in buying and selling bitcoin wallet activities in Indonesia. In order to get a bitcoin address from an Indodax wallet, the user is only tasked with registering on the link. Then, the account you have in this Indodax wallet can automatically send, store, or receive bitcoin wallets.


Wallet Pintu is also one of the bitcoin platforms that provides convenience in sending, receiving, and storing digital money more securely. Users can visit the door link, namely, this link is used as a platform for storing digital assets that have an iCloud base for a tighter and optimal security system.


An attractive and intuitive interface makes this exodus much in demand by investors. This bitcoin wallet also provides fairly tight security and can assist users in converting bitcoin into a graphic portfolio because it is integrated by Trezor. Using the platform is very easy.


Blockchain is a crypto wallet that is very familiar in the cryptocurrency world. Since 2011, this crypto wallet platform has spread all over the world, including in Indonesia. This blockchain wallet is very safe and reliable with lower transaction fees compared to other wallets. Furthermore, the operating system of this platform is quite easy and simple for beginners who are new to cryptocurrency. Users can create an account through the blockchain site, namely By using a blockchain wallet, users can store Ethereum, Bitcoin Cash, and Stellar. Android and iOS smartphone users can access using one of the bitcoin wallets quickly and easily.


Coinbase is a safe and reliable mobile application. This Coinbase wallet not only offers Bitcoin but also facilitates other cryptocurrencies. That way, this application is the best choice for beginners who want to invest other than using bitcoin. By using a bitcoin wallet that is used online, users do not only transact on bitcoin wallets but also various cryptocurrencies. Users can use android, iOS, and mobile applications.


This keepkey crypto is one type of hardware wallet or the same as a desktop. Therefore, the private keys used by users are stored safely in the cold storage feature. This keepkey crypto wallet is becoming popular with crypto investors. Through this keepkey wallet you can keep your bitcoin wallet both virtual and physical which you can consider. However, this crypto wallet has a larger size, making it difficult to carry everywhere


This type of crypto wallet is physical, so the Trezor wallet provides a fairly high-security offer. This Trezor wallet user connects to smart devices such as Android, computers, tablets, and so on. By using the Trezor wallet, users can access digital assets that have been obtained. Through this Trezor wallet, users can buy more than 600 types of crypto wallet assets and are guaranteed to be safe.

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