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Learn More about buying USDC in Indonesia
How to buy USD Coin in Indonesia
Is USDC a good investment in Indonesia?
The USD coin was released in September 2018 as a bridge between dollars and trading on cryptocurrency exchanges. It means USD Coin is equal to USD but in the cryptocurrency world. Therefore, its price is always equal to $1. However, there were sometimes during its history when the price changed a bit, but that wasn’t that much to consider. Anyhow, the USDC price has never been more than $1, and less than $0.99. That shows how stable this coin has been through all these years.
Since the USDC price never changes, you might wonder if it is a good investment. To answer this question, we need to explain how stablecoins are used and invested. They are not considered an investment to get profit, but investors usually buy stablecoins to avoid the volatility of the cryptocurrency market. If the market seems so volatile, traders and investors swap their coins with USDC and keep it stable until they pass the bad days of this market. That’s how they can keep their assets safe from losing their value.
What is USD Coin ?
Circle is a financial technology company that created USD Coin with the collaboration of Coinbase. Their main goal was to help people gain more money on the internet and be able to exchange their coins more easily. The USD coin is considered a dollar in people’s digital wallets.
Is USD Coin legal to buy in Indonesia
Yes, it is legal to buy cryptocurrencies in Indonesia but cryptocurrency is not considered an
official form of payment in Indonesia. This is according to The Indonesian government’s
released Working Paper, through which the government along with the Indonesian Central Bank
has recognized the growing market of crypto assets and its usage and has mentioned that it is
monitoring the development of the cryptocurrency industry and may issue further regulations in
the future. As of now (12th of February 2023), the regulation of cryptocurrencies in Indonesia is
limited, and it operates in a somewhat gray area but it is expected to improve further in the near
Is USD Coin taxed in Indonesia
Yes. The article regarding cryptocurrency taxation in Indonesia can be found in the Indonesian
Tax Law, specifically in article 25 concerning "taxable income". According to the mentioned
article, cryptocurrency transactions in Indonesia are subject to income tax as they are
considered a form of "other income." According to the same mentioned Article, the taxation rate
for individuals is based on the individual's tax bracket, from 0.5% to 30% and for companies, it
is a flat rate of 20%. This means that individuals and entities who engage in cryptocurrency
transactions, such as buying, selling, or trading, must report their crypto-related income and pay
taxes on it.
Moreover, it is important for individuals and entities who engage in cryptocurrency transactions
in Indonesia to accurately report their crypto-related income and pay taxes on it to avoid
penalties and fines. It is recommended to consult a tax professional for further information on
the specific regulations and obligations for cryptocurrency taxation in Indonesia.
After you've bought USD Coin in Indonesia
USD Coins can be used to pay for goods or services. It is also tradable on most exchanges. Thus, you can trade your USDC to any other cryptocurrency whenever you want. USDC owners can always exchange it with the dollar and receive cash equal to the number of coins they have. For example, if you have 100 USD coins in your wallet, you can turn them into $100 cash. Furthermore, USDC offers investors safety during times of instability or downturn in the crypto market. Therefore, it is the best option for investors to keep their digital assets stable for a while. Since the price of USDC is always stable, they won’t lose much money. However, you should still read more about it to know if it is the best time to trade your current assets with USDC or buy this coin.
Who can buy USD Coin in Indonesia
In Indonesia, cryptocurrency can be purchased by individuals and businesses who are allowed
to purchase it by the law. Banks, payment processors, and exchanges are some common and
legal entities that offer services to buy cryptocurrencies in Indonesia. On this note, our
exchange is one of the most secure service providers when it comes to buying crypto assets in
Indonesia. Our exchange is legal and offers you different payment methods to purchase your
intended amount of cryptocurrency while charging you no transaction fees which would be very
cost-effective. Some of the best payment methods that we offer are: Apple Pay, Google Pay,
credit card, debit card, bank transfer, and PayPal.
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Payment methods to buy USD Coin in Indonesia
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Frequently asked questions
Most exchanges support USDC as a trusted and available coin. Find a suitable exchange to trade or buy this coin. However, some exchanges may ask you to pay additional money as the processing fee. But if you buy USDC in the BlockTrade exchange, you don’t have to pay that fee. That’s why Blocktrade is considered one of the cheapest and the most secure exchanges to buy crypto.
In Indonesia, individuals are required to report and pay taxes on their cryptocurrency
transactions. In order to report cryptocurrency taxation in Indonesia you need to keep records of
all cryptocurrency transactions, including the date, amount, and type of transaction. then, it is
necessary to calculate the taxable income from your cryptocurrency transactions using the
appropriate tax rate. Next, file a tax return with the Indonesian Tax Office (Direktorat Jenderal
Pajak) and report your taxable income from cryptocurrency transactions. And lastly, pay the
taxes owed on your cryptocurrency transactions. It's important to note that the regulations
surrounding cryptocurrency tax in Indonesia are constantly evolving, and taxpayers should keep
themselves updated on the latest developments and seek advice from a tax professional if
Yes, you can sell cryptocurrency in Indonesia. However, the regulation of cryptocurrency in
Indonesia is a bit not yet so clear and it is advised to consult with a legal expert before
conducting your cryptocurrency transactions. It is also known that Indonesia allows selling
crypto assets through exchanges and it is supervised by the Commodity Futures Trading
Regulatory Agency (BAPPEBTI), a body under the Ministry of Trade. It is also recommended to
do research before engaging in cryptocurrency sales inside the country.
USD Coin will be available as long as the cryptocurrency world is still alive. Furthermore, since its price is stable and equal to the dollar, it would still be in use in the future.
The exact number of cryptocurrency owners is not specifically known, but according to some
data, it shows that around 4.3%, which would be about 11 million of its population, owned some
form of cryptocurrencies.
The truth is that USD Coin is not as profitable as other cryptocurrencies. The main advantage it has is the stable price. Therefore, you can use this coin to stabilize your digital assets for a while or be able to exchange coins more efficiently.