Crypto assets in Indonesia are experiencing an upward trend in transactions lately.
There are some interesting facts behind the increase in transaction volume in Indonesia, which has been increasing recently. Almost all of the top crypto assets experienced a significant price increase.
Bitcoin, Ethereum, DOGE, Tron, and others are rising. This is undoubtedly the allure of people who want to invest.
5 essential facts about this that you should know
1. Crypto Asset Transactions Increase Due to Rising Prices
The first fact is an increase in crypto asset transactions in Indonesia due to the rise in the price of an asset. Some crypto assets, especially the top crypto assets, have increased.
For example, Bitcoin has touched the highest level of Rp. 950 million. People’s trust is continuing because Bitcoin can still be predicted to increase again.
Likewise for Ethereum. This second most popular crypto asset has recorded its highest price of IDR 32 million. However, even though it is already at its highest level, ETH is the same as BTC, which will most likely still experience a price increase.
Likewise, other crypto assets include BNB, DOGE, Ripple (XRP), Tron, and others. They have also increased drastically and will most likely rise again.
In addition, these cryptocurrencies have different fundamentals and utilities from Bitcoin and Ethereum.
This means that this situation makes investor interest even higher. So, Bitcoin and altcoin transactions are increasing lately.
2. The Rise of Crypto Assets Is a Worldwide Phenomenon
The increase in Bitcoin and altcoin transactions occurs because Bitcoin is hype. Almost all people in the world love it. This phenomenon occurs in virtually every country. Of course, it also happened in Indonesia.
One of the reasons for the increasing trend of crypto assets is the news about Bitcoin. Many media reports about the great price movements of Bitcoin and altcoins.
The media that reported the most were from the United States. However, in Indonesia, many write about the increase in the price of Bitcoin. The news made people interested in Bitcoin and crypto.
3. The Increase in Crypto Asset Transactions in Indonesia is Still Not Too Fantastic
According to Indodax CEO Oscar Darmawan, the increase in Bitcoin transactions is not too fantastic because Indonesia’s total crypto asset transactions are only about 1% of the worldwide market.
In addition, compared with the surge in transaction volume in 2017, the period was still higher. At the time, Bitcoin was hype for the first time.
4. Development of Blockchain Technology Becomes an Attraction
Decentralized finance seems to have attracted all financial and technology activists in 2020. Where DeFi has become hype because it uses transparent and safe methods.
Then, at the beginning of this year, the auction of non-fungible tokens (NFT) was also widely used by artists. Such as musicians, filmmakers, and even inventors or creators of technological work.
The two ecosystems above are two things that state that blockchain technology is developing. Then, its development immediately had a lot of fans.
Many developers also predict that blockchain technology will also continue to develop. So, people are also increasingly busy owning Bitcoin and altcoins.
5. There is no need to worry about the increase in Crypto Asset Transactions
This increase in crypto asset transactions seems to cause concern for those who disagree with the existence of Bitcoin and altcoins.
However, such a condition is nothing to worry about. Because Bitcoin is based on blockchain technology, it doesn’t replace the existing ecosystem or technology. Rather it complements the ecosystem and technology that has been running so far.
All matters relating to crypto assets and their brokers or exchanges have been regulated by the Ministry of Home Affairs and BAPPEBTI.
Each asset has different characteristics. So are the advantages and disadvantages of Bitcoin and altcoins, which are digital assets. Of course, it has advantages and disadvantages that differ from other assets.
However, the most important thing is knowing the character or portfolio of the assets in which you want to invest your money. Don’t invest in assets that don’t suit your investment style.
Now. Those are interesting facts about the increase in Bitcoin transactions in Indonesia.