Bitcoin's price is increasing every day. At the time this article was created, Bitcoin price stabilized at 95 million rupiah price after a few days earlier to set a new ATH (All Time High) record above 100 million rupiah. This indicates that the more people who are interested in Bitcoin, making demand for Bitcoin (demand) increases, so the price is also increasing.

bitcoin.co.id

This time I will explain how to buy and sell Bitcoin on Bitcoin Indonesia website. Make sure you have an account at Bitcoin Indonesia website (Register here: https://vip.bitcoin.co.id/ref/dedyjuliana/1(GRATIS), or read the tutorial here: How to Register in Bitcoin Indonesia) and already have balance there (Read: How to Top-up Balance in Bitcoin Indonesia).

Before going to the steps that need to be done to buy Bitcoin, I need to explain how to see the balance, considering there will be many currencies there. Do not let your confusion in the future.

Note: In the future you need to remember the currency code for each currency so you do not buy the wrong currency. For now enough to remember the currency code for Rupiah is IDR and the currency code for Bitcoin is BTC.

I will explain how to buy Bitcoin through Spot Market, as this is the most common way to buy Bitcoin. A faster way is to buy Bitcoin instantly, but we will have difficulties when buying Bitcoin in another exchange sometime, because not all exchange has an instant selling feature.

1 Click Menu "Spot Market"



After logging in with your account, please click the "Spot Market" menu located on the left navigation.

2 Select Market BTC / IDR



In the picture above we see some digital currency market. Broadly speaking, the market is grouped into 2 parts, namely: IDR Markets and BTC Markets.

IDR Markets contains several currencies that can be purchased using Rupiah and resold into Rupiah. BTC / IDR is pair (pair) to do Bitcoin sale with Rupiah, ETH / IDR for buying and selling Ethereum (ETH) with Rupiah, etc ..

BTC Markets contains several currencies that can be purchased using Bitcoin. So, to buy the currency in BTC Markets we must have Bitcoin first. BTS / BTC for sale Bitcoin with BitShares, DASH / BTC for sale Bitcoin with DASH, etc ..

In the picture above we can also see the pair ETH / IDR and ETH / BTC. That is, to buy Ethereum (ETH) we can directly buy it with Rupiah, or we can also buy it with Bitcoin. There are some digital currencies that can be purchased with IDR only, some can be purchased with BTC only, and some can be purchased with IDR or BTC.

If you are familiar with Forex, you will get used to seeing a currency pair like this. We must get used to understanding the choices that exist. At first it did seem a bit complicated, but we'll get used to it. It could be one day later in Bitcoin Indonesia will be added new pairs like ETH Markets, where we can do buying and selling with Ethereum base currency like that in some foreign exchange.

3 Fill in Bitcoin Buy Form



To buy Bitcoin we fill the Bitcoin Buy form according to our wishes. In the picture above I am in the market BTC / IDR. My IDR balance is Rp. 287.426. There I want to buy Bitcoin worth Rp. 250,000 at a price of Rp. 100,000,000 per BTC. The estimated amount of Bitcoin I will receive is 0.0025 BTC. After all the form is filled, click "Continue" button.
Accept


Furthermore, Bitcoin Indonesia will provide confirmation of the transaction that we do. Please read the information carefully to anticipate purchasing errors. Usually for each transaction will be charged 0.3% of the transaction value. But we can also make transactions without being charged. It has something to do with Market Maker & Taker, please read the explanation here. If you are sure of the transaction that we do, click "Continue", then our transaction will be processed.

4 Wait Until Bitcoin is Purchased

After the transaction is processed then there will be 2 possibilities that occur. The first possibility is that our transaction is immediately executed. This happens when the purchase price we put is more expensive than the lowest selling price posted by others. For example we put the purchase price of Rp. 100,000,000, then at the same time in Order Book there are people who sell Bitcoin for 98,000,000, then our transaction will be executed immediately at the price of 98.000.000. Why not worth Rp. 100,000,000? Because Bitcoin Indonesia will directly execute our transactions when there are others who sell Bitcoin at a price smaller or equal to the price we specify (Rp 100.000.000).



Order Book

The second possibility is our transaction is not directly executed, but will enter the Order Book. This happens when the purchase price we put is cheaper than the lowest selling price posted by others. For example we put the purchase price of Rp. 100.000.000, while the lowest selling price in Order Book is Rp. 105,000,000.



When will our transaction be executed? When the price of Bitcoin goes down and there are people who sell Bitcoin for Rp. 100,000,000 or below. So, it is not possible to buy Bitcoin more expensive than the price we have set.

After our transaction is fully executed, Bitcoin Indonesia will usually give us a notification, saying that we have successfully bought Bitcoin. Next we can see our Bitcoin balance will increase.



After successfully buying Bitcoin, it's time to learn how to sell it. Basically the way is almost the same as how to buy, it's just done on a different form.



We just fill in how much total Bitcoin we want to sell, determine the selling price we want, then click "Continue" button. After the confirmation appears, click the "Continue" button again, wait until our transaction is executed.

Please try the features available on Bitcoin Indonesia website so that you are familiar with all the features provided. Basically Bitcoin Indonesia website is very easy to use when compared with website exchange abroad. You can also try buying a digital currency other than Bitcoin. Of course, the same way to buy Bitcoin. I suggest you to use a capital that is not too big at the first time to learn, to avoid the things that are not desirable. If you are familiar with the features provided just start to increase capital so that your profits are also increasing.
thanks for time...