Is Upbit Indonesia the right crypto exchange for you?
If you're in Indonesia and looking to buy Bitcoin, Ethereum, or altcoins without jumping through hoops, Upbit Indonesia might already be on your radar. It's not just another crypto platform - it's one of the top three exchanges in the country, handling 35% of all crypto trading volume in Indonesia. But what does that actually mean for you as a user? Is it fast? Safe? Easy to use? And most importantly - does it work when you need it to?
Let’s cut through the marketing. This isn’t a sponsored review. This is what you’ll actually experience using Upbit Indonesia in 2026 - the good, the bad, and the things nobody tells you until you’re stuck trying to withdraw your funds at 2 a.m.
What makes Upbit Indonesia different from other exchanges?
Upbit Indonesia doesn’t operate alone. It’s the local arm of South Korea’s Upbit, owned by Dunamu Inc. - the same company behind KakaoTalk, the messaging app used by over 93% of Indonesia’s internet users. That connection is huge. While most global exchanges struggle to integrate with local banks, Upbit Indonesia connects directly with 12 major Indonesian banks including BCA, Mandiri, and BRI. You can deposit and withdraw Rupiah in minutes, not days.
Unlike Binance Indonesia, which offers 125x leverage and futures trading, Upbit keeps things simple. No margin trading. No shorting. No complex derivatives. That’s intentional. It’s built for retail investors who want to buy, hold, and sell - not gamble. This makes it a favorite among conservative traders and regulators alike. Indonesia’s financial watchdog, BAPPEBTI, gave Upbit a full license in 2021, and they’ve stayed compliant ever since.
But here’s the catch: if you’re an active day trader who needs advanced charting tools, Fibonacci retracements, or volume profiles, you’ll be frustrated. Upbit’s web platform has basic candlestick charts. That’s it. No indicators. No drawing tools. For serious technical analysis, you’ll need to use TradingView or another third-party service.
Security: How safe is your money?
Security is where Upbit Indonesia shines. Over 98% of user funds are stored in cold wallets spread across multiple geographically separated locations. That means even if one server gets hacked, your coins are still safe. They also require mandatory two-factor authentication (2FA) - no exceptions. You can use SMS or an authenticator app like Google Authenticator or Authy.
Withdrawals over 5 million IDR (around $300) require a separate fund password. That’s an extra layer most exchanges don’t bother with. And they’ve learned from past mistakes. After losing $50 million in ETH back in 2019, Upbit completely overhauled its security. Fireblocks, a top cybersecurity firm, called their current system “industry-leading.”
That said, their KYC process isn’t the strictest. Chainalysis noted in their 2024 report that Upbit’s four-level verification system is less rigorous than Japanese exchanges. But for Indonesia, it’s more than enough. You just need your KTP (national ID) and a selfie to get started. Full verification takes 2-3 business days.
Fees: What you really pay to trade
Upbit Indonesia’s fee structure is clear - but not always cheap.
- IDR markets: 0.23% maker fee, 0.33% taker fee
- BTC and USDT markets: 0.51% for both maker and taker
That’s higher than Indodax (0.11% taker fee) and Pintu (0.15%). If you’re trading large volumes, those extra 0.2% can add up fast. But here’s the trade-off: Upbit’s interface is smoother, their customer support is more responsive, and their app is better designed.
Deposits? Free. Always. Whether you’re using bank transfer, e-wallet, or crypto deposit - no fees. Withdrawals cost a little. Bitcoin withdrawals are 0.0008 BTC. Fiat withdrawals (IDR) are 25,000 IDR per transaction. That’s standard across most Indonesian exchanges.
And if you’re holding coins long-term? Upbit launched staking in October 2024. You can earn between 3.5% and 8.2% APY on 12 proof-of-stake coins like Cardano, Solana, and Polygon. No lock-up period. You can unstake anytime. That’s a solid perk.
App and usability: Built for real people
The Upbit Indonesia mobile app is where it really wins. It’s not just functional - it’s intuitive. The design is clean. The layout makes sense. Even if you’ve never traded before, you’ll figure it out in under 30 minutes.
Features you won’t find elsewhere:
- Lock-screen price alerts - see live prices without opening the app
- Custom price notifications for any coin
- Real-time market updates pushed to your phone
On Google Play, it has a 4.6/5 rating from over 42,000 reviews. On the App Store, it’s 4.7/5 from nearly 29,000 reviews. That’s rare for a finance app in Indonesia. Most users say the same thing: “I caught a 15% pump in XRP because I got a notification while walking to work.”
The web platform works just as well. No plugins needed. Works on Chrome, Firefox, Safari, Edge. API access is available for businesses - though most users don’t need it.
Customer support and learning curve
Support is where Upbit Indonesia stumbles. You only get two options: email and live chat. No phone. No Twitter DMs. No WhatsApp. During normal hours, live chat responds in under 10 minutes. But when the market crashes? That’s when things slow down. Reddit users report waiting 4-6 hours for replies during volatility spikes.
According to Trustpilot, the average email response time is 8.2 hours. That’s acceptable for a local exchange, but not great compared to global players like Binance, which offers 24/7 live chat.
On the bright side, Upbit offers 47 interactive tutorials in Bahasa Indonesia. They cover everything from how to deposit Rupiah to how to set up a stop-loss order. Most new users say they feel confident using the platform after just 2 hours. That’s faster than most competitors.
Who is Upbit Indonesia for?
Upbit Indonesia isn’t for everyone. But it’s perfect for:
- Indonesian retail investors who want to buy crypto with Rupiah and hold it long-term
- Beginners who don’t want to be overwhelmed by 500 trading pairs and leverage options
- People who value speed and simplicity over advanced features
- Users who already use KakaoTalk - verification is a breeze
It’s NOT for:
- Day traders who need advanced charts, indicators, or futures trading
- High-volume traders who care about taker fees below 0.2%
- People wanting multi-currency support - Upbit only accepts IDR
How it compares to the competition
Here’s how Upbit Indonesia stacks up against its biggest rivals:
| Feature | Upbit Indonesia | Binance Indonesia | Indodax | Pintu |
|---|---|---|---|---|
| Trading Pairs | 272 | 400+ | 250+ | 180 |
| Max Leverage | 1:1 | 125:1 | 1:1 | 1:1 |
| Taker Fee (IDR) | 0.33% | 0.15% | 0.11% | 0.15% |
| Fiat Support | IDR only | IDR only | IDR only | IDR, SGD, THB |
| Mobile App Rating | 4.6/5 | 4.3/5 | 4.1/5 | 4.5/5 |
| Staking Available | Yes (12 coins) | Yes (50+ coins) | No | Yes (8 coins) |
| Market Share (Trading Volume) | 35% | 42% | 8% | 10% |
Upbit doesn’t have the most coins or the lowest fees. But it has the best user experience. NFTEvening’s 2025 report gave it a 9.4/10 score - higher than any other local exchange. That’s not an accident. It’s because they focused on what matters to everyday users: speed, simplicity, and reliability.
What’s next for Upbit Indonesia?
Upbit isn’t standing still. In November 2024, they’re integrating with QRIS - Indonesia’s national QR payment system. That means you’ll be able to buy crypto directly from your e-wallet apps like GoPay and OVO. No bank transfer needed.
They’re also working on USDⓈ-IDR futures trading, pending approval from BAPPEBTI. If approved, that could change everything. But for now, they’re sticking to spot trading - and that’s okay.
With Kakao Corp investing $3.2 billion into Upbit’s global expansion, and Indonesia’s crypto market growing at 22% per year, Upbit Indonesia is in a strong position. The biggest risk? A sudden tax hike. Indonesia plans to introduce a 0.5% capital gains tax in January 2025. That could slow adoption - but it won’t kill it.
Final Verdict: Should you use Upbit Indonesia?
If you’re in Indonesia and want a simple, safe, and fast way to buy and hold crypto - yes. Upbit Indonesia is the best choice for 9 out of 10 people.
It’s not the cheapest. It’s not the most advanced. But it’s the most reliable. You won’t get lost in confusing menus. Your withdrawals won’t get stuck for days. Your money is secure. And you’ll actually enjoy using the app.
For traders who need leverage, futures, or ultra-low fees - stick with Binance. But if you’re just trying to get into crypto without the stress, Upbit Indonesia does the job better than anyone else in the country.
Is Upbit Indonesia legal in Indonesia?
Yes. Upbit Indonesia operates under a full license from BAPPEBTI, Indonesia’s Commodity Futures Trading Regulatory Agency. They received License No. 001/BAPPEBTI/SP-ME/01/2021 and comply with all local regulations, including mandatory KYC and anti-money laundering rules.
Can I trade Bitcoin on Upbit Indonesia?
Yes. You can trade Bitcoin against IDR, USDT, and other cryptocurrencies. Bitcoin is one of the most popular trading pairs on the platform, with high liquidity and fast execution.
Does Upbit Indonesia support USD or other foreign currencies?
No. Upbit Indonesia only accepts Indonesian Rupiah (IDR) for deposits and withdrawals. You cannot deposit USD, EUR, or SGD directly. To trade with other currencies, you must first buy USDT or BTC using IDR, then trade those pairs.
How long do withdrawals take on Upbit Indonesia?
Crypto withdrawals usually process within 10-30 minutes. Fiat withdrawals (IDR) to your bank account take 1-2 business days. During weekends or holidays, expect delays. Withdrawals over 5 million IDR require an extra password and may take longer to review.
What’s the minimum deposit on Upbit Indonesia?
There’s no minimum deposit. You can start with as little as 10,000 IDR (around $0.60). This makes it accessible even for users with small budgets.
Does Upbit Indonesia have a referral program?
Yes. You can refer friends and earn 20% of their trading fees for the first 3 months. The referral link is available in your account settings under “Invite Friends.”
Is Upbit Indonesia better than Indodax?
It depends. Indodax has lower fees and more coins, but Upbit Indonesia has a better app, faster support, and more reliable service. If you prioritize user experience and speed, Upbit wins. If you’re a high-volume trader focused on minimizing fees, Indodax might be better.
Next steps if you want to start trading
Ready to try Upbit Indonesia? Here’s how to get started:
- Go to upbit.co.id and click “Sign Up”
- Enter your email and create a password
- Verify your email
- Upload your KTP and a selfie holding it
- Wait 2-3 business days for full verification
- Link your bank account (BCA, Mandiri, BRI, etc.)
- Deposit IDR and start buying crypto
Download the app too. It’s the best way to stay on top of price changes. Set up alerts for coins you’re watching. You’ll thank yourself later.
