Cryptocurrency was first known in Indonesia in 2013 with the presence of Bitcoin.
In 2018, the Indonesian government issued a regulation that the crypto currency could not be used as a legal means of payment in Indonesia.
Since then, trading cryptocurrency can still be done in Indonesia with several exchanges that are still operating.
One of the biggest cryptocurrency exchanges in Indonesia is Indodax, which has more than 3 million registered users.
Some online stores in Indonesia also begin to receive payments with cryptocurrency, such as Bitcoin and Ethereum.
In 2020, Bitcoin experienced a significant increase in prices and penetrated the figure of USD 20,000, making it increasingly popular among investors in Indonesia.
Although there is a debate about the legality of cryptocurrency in Indonesia, blockchain, technology used in cryptocurrency, is increasingly popular among companies and application developers.
Some companies in Indonesia began to use blockchain technology to improve their data management systems and transactions.
One example of the use of blockchain in Indonesia is in an electronic voting system that can increase transparency and integrity in election.
At present, there are more than 2000 types of cryptocurrency circulating in the global market, and some of them are also traded in Indonesia.
