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In 2022, **** percent of cryptocurrency investors in Indonesia were between 18 and 24 years old. In comparison, only *** percent of investors were 55 years and older. In recent years, investing in cryptocurrencies has become popular among Indonesians.

The rise of cryptocurrencies in Indonesia

From January to December 2021, the number of registered cryptocurrency owners in Indonesia increased by ** percent, reaching **** million users at the end of 2021. When the entire population is taken into account, around *** percent of Indonesia's population are cryptocurrency owners. Given that Indonesia is the fourth-largest nation in the world with a high digital commerce penetration rate, there is still a lot of room for expansion in the country's financial sector, particularly in the blockchain sector.

Indonesia’s government is supporting cryptocurrency development in the nation

Indonesia’s cryptocurrency transaction value reached almost *** trillion Indonesian rupiah in 2021. Based on their transaction values, Bitcoin, Ethereum, and Dogecoin have been Indonesia’s leading cryptocurrencies. The government of Indonesia decided to support the growth of cryptocurrencies since the country’s interest in them has grown. Since 2019, Indonesian cryptocurrency trading has been supervised and regulated by the Commodity Futures Trading Regulatory Agency (BAPPEBTI), under the Ministry of Trade. Although Indonesian law does not yet permit the use of cryptocurrencies for payments, the government has permitted the trading of cryptocurrencies as commodities.