Do you know Tokocrypto is Indonesia’s first regulated cryptocurrency exchange?
Tokocrypto is an exchange in Indonesia where people can buy and sell digital assets safely. Moreover, they work with Binance to make sure everything runs smoothly and everyone gets a fair deal.
Without wasting any time, let’s explore how Tokocrypto has become a major player in the Southeast Asian cryptocurrency market.
Introduction to Tokocrypto Exchange
Tokocrypto is an Indonesian cryptocurrency exchange that was established in 2018. It has been one of the fastest-growing exchanges in Indonesia in terms of user registrations and trading volume.
Tokocrypto is the only exchange in Indonesia that is regulated under the Trade and Futures Exchange Ministry (BAPPEBTI) and helps you trade in around 434 cryptocurrency pairs.
It was founded to provide secure and accessible crypto trading for Indonesians so that they have more exposure in the cryptocurrency markets. Moreover, the platform also has a mission to increase the financial knowledge regarding cryptocurrencies among Indonesians.
Tokocrypto exchange has been designed to meet the needs of both beginner and experienced traders with its user-friendly interface and advanced features.
Additionally, the platform partnered with the world-leading exchange, Binance so that it could incorporate the latest technology and security for its customers.
The Genesis of Tokocrypto Exchange
Tokocrypto exchange was founded in 2018 by Pang Xue Kai to become the leading cryptocurrency exchange in Southeast Asia.
Previously, Pang Xue Kai was an engineer working in the oil and gas industry and shifted his interests towards blockchain in 2015.
Indonesia was quite cautious regarding cryptocurrencies as the Indonesian government was not given enough control to track transactions. But, Tokocrypto became the first exchange to be registered under the BAPPEBTI regulatory laws.
In 2020, Binance combined with Tokocrypto in a strategic partnership to upgrade Tokocrypto’s security and aimed to increase the liquidity of the platform.
Then in 2021, the platform launched its official TKO token. Moreover, they introduced many more financial services for crypto enthusiasts in Indonesia.
Core Features of Tokocrypto Exchange
With the Tokocrypto exchange, you can trade a vast number of cryptocurrencies against the Indonesian rupiah.
Currently, the main focus of the Tokocrypto exchange remains on spot trading but we might witness an introduction of futures contracts ahead in their journey.
Moreover, you can stake tokens with the Tokocrypto exchange to earn passively without trading. The holders of the token will be able to earn interest on their staked tokens which had been lent to other traders by the exchange.
Tokocrypto also implements top-notch security measures to ensure user safety and compliance with Indonesian regulations. Here are some of these security measures:
1. Two-Factor Authentication
You cannot open a trading account without 2FA with the Tokocrypto platform. While registering yourself as a user, either a link will be sent to your email or phone number, depending on what you have provided.
Moreover, every time you log in to your trading account, a confirmation code will be required. This code will be sent to your email or phone number, and upon pasting this code correctly, you will be redirected to your trading account.
2. KYC Verification
Tokocrypto exchange will require your national identity card or passport. It may also require the card or passport number to ensure that you are a legitimate national of Indonesia.
With this, every transaction you do will be noted, so nothing will be hidden from the Indonesian government.
3. AML and CFT Policies
Tokocrypto also follows Anti-money laundering (AML) and counter-financing of terror(CFT) policies which are mandatory in the Indonesian laws.
Such policies ensure every fraudulent and suspicious activity can be identified and then reported, ensuring everything is being monitored the right way.
Toko Token (TKO)
TKO is the native token of the Tokocrypto exchange which has been developed on the Binance smart chain platform.
TKO holders will have many benefits within the Tokocrypto exchange ecosystem. These include trading fee discounts staking rewards, access to exclusive events, and participation in blockchain projects.
Here are some details regarding TKO supply.
- Market Cap: $77,964,637
- Circulating Supply: 169,427,916 TKO
- Percentage of Max Supply in Circulation: 33.89%
- Total Supply: 496,957,569 TKO
- Max Supply: 500,000,000 TKO
- Fully Diluted Market Cap: $230,082,026
Moreover, TKO also helps in providing liquidity by getting involved in liquidity pools and other Defi platforms.
Acquiring and Utilizing TKO Tokens
You can buy the TKO tokens from Tokocrypto or any other exchange and the process will be quite similar.
Remember that if you already have an account on an exchange where the TKO token is listed, you would just have to search for it and purchase the amount of token that you want.
But if you don’t have an account, here are the steps that you should follow.
1. Select An Exchange And Create An Account
You can select an exchange that suits your needs depending on where you live. This can be an exchange with whom you are familiar and the one that is legal in your country or also the one that your government supports.
Now, visit the website of that exchange or app and click on the “Register” button. Then, fill up your details and confirm the terms and conditions. At this stage, you will be just required to provide your active email address and create a password.
2. Deposit Money Into The Account
After you have created your account, the next step is to fund it with capital so that you can buy cryptocurrencies. There are many ways to fund your accounts such as through bank transfer, Credit/Debit cards, and P2P.
3. Visit Spot Page
Go to the search bar and write “TKO”, then click on the interface to get redirected to the spot page.
4. Select The Amount And Buy
Enter the amount of TKO tokens that you want to buy with the type of order that you want the trade to be executed. The order types can be limit and market order. A limit order gets executed at a specific price and the market order gets executed at the current price.
5. Storing The TKO Token
The tokens have been purchased and will be stored in your exchange spot account. For enhanced safety, you can transfer it to your crypto wallet whether a hardware or software wallet.
You can use hardware wallets for maximum security as these devices store the private keys offline. This makes it quite difficult for hackers to get access to your account.
On the other hand, you can use software wallets if you are willing to access your tokens frequently as they offer quite convenience and flexibility. They are easy to use and great for quick transactions.
Tokocrypto’s Regulatory Compliance
Tokocrypto is the first cryptocurrency exchange in Indonesia to be officially registered and regulated by BAPPEBTI. This means they meet all the required standards for capital, security, and operations.
To follow BAPPEBTI’s rules, Tokocrypto has strong security measures to keep user assets and data safe, including regular audits and compliance checks. They also report regularly to BAPPEBTI, which helps keep their operations transparent and reduces the risk of fraud.
The regulations are quite critical as they help make sure that the exchange maintains high security and operates reliably.
Additionally, having regulatory oversight helps monitor trading on the exchange, prevents unfair trading practices, and ensures that trading is done fairly.
Tokocrypto in the Global Cryptocurrency Market
Tokocrypto has carved out a special place for itself in the global cryptocurrency market mainly through its partnership with Binance.
This partnership has boosted Tokocrypto’s technology, making its trading platform stronger and safer. Tokocrypto focuses on Southeast Asia, which sets it apart from many other exchanges that try to reach a global market.
Tokocrypto’s strength lies in its localized approach, offering services tailored to Indonesian and Southeast Asian users. This includes local payment methods, customer support in regional languages, and promotions designed to appeal to local market preferences.
Binance offers a broad array of cryptocurrencies and trading features, including futures and options, across a global user base. While Coinbase is known for its easy-to-use platform, it’s particularly appealing to cryptocurrency newcomers.
Challenges and Opportunities for Tokocrypto Exchange
Here are the major challenges Tokocrypto may face:
- As Tokocrypto is regulated, they need to update laws as the regulatory change which is quite time-consuming and they may have to resume operations for some time.
- With the growing trend of cryptocurrency trading in Southeast Asia, many global giants may be looking to expand their operations in many Southeast Asian countries, leading to huge competition.
- Tokocrypto should regularly monitor its platform to make sure that no malicious activity is happening which can put user security and privacy at risk.
Below are mentioned some growth opportunities:
- Working with other tech or finance companies can help Tokocrypto get better tools and reach more customers.
- Tokocrypto can provide better services by investing in new technology.
- Tokocrypto has a chance to grow in new markets where cryptocurrencies are becoming popular but don’t have many established businesses yet.
Future Roadmap and Developments
From launching its mobile app in 2020 to introducing its token in 2021, the Tokocrypto platform is continuously growing and developing.
For 2024, its future roadmap is quite promising, as the platform aims to leverage social media influencers to ensure that people are more aware of the token, leading to more volume in the long term.
Moreover, they are looking to plan many international events and conferences including the IBW (Indonesia Blockchain Week).
Conclusion: The Strategic Importance of Tokocrypto Exchange
Tokocrypto is the first cryptocurrency exchange in Indonesia that follows the rules set by BAPPEBTI, setting a good example for others in the area.
Their partnership with Binance has made Tokocrypto’s technology even better, allowing them to offer a strong and competitive trading platform that meets the needs of people in Indonesia.
As more countries in Southeast Asia start to set up and clarify their own rules for cryptocurrencies, Tokocrypto’s experiences and proven methods could help guide them. This could encourage a fair mix of new ideas and rules.
Tokocrypto Review
Review and basic information of Tokocrypto are as follows.
Crypto Exchange Basics | Tokocrypto |
---|---|
Official Name | Tokocrypto |
Exchange Representative (Founder) | Yudhono Rawis |
Headquarters Location | Indonesia |
Tokocrypto Launch Date | 1970-01 |
Number of Tradable Crypto Pairs | 436 Pairs |
Weekly Visits | 0 Users |
Overall Rating | ⭐ / 5.0 |
Tokocrypto Fee 2024
The fees charged to you for transactions at Tokocrypto are as follows.
Maker/Taker Fees | Tokocrypto Transaction Fees |
---|---|
Spot Maker Fee | 0.1% |
Spot Taker Fee | 0.1% |
Derivatives Maker Fee | No Service Provided |
Derivatives Taker Fee | No Service Provided |
Tokocrypto Trading Volume
Trading Volumes of Tokocrypto are as follows. (Based on CoinMarketCap 2024-05-19 14:41:12 data)
Trading Volume Items | Tokocrypto Trading Volume |
---|---|
Daily Trading Volume (24h) | 14,562,886,359 KRW |
Weekly Trading Volume (7d) | 100,055,604,685 KRW |
Monthly Trading Volume (30d) | 563,977,941,823 KRW |
Daily Volume Change (24h) | -30.27% |
Weekly Volume Change (7d) | 47.03% |
Monthly Volume Change (30d) | -39.92% |
Communicate with Tokocrypto
You can check exchange's messenger and SNS information in the table below.
Types | URL |
---|---|
🎺 Messenger |
FAQs
Who founded Tokocrypto exchange?
Tokocrypto was founded in 1970 by Yudhono Rawis.
Where is Tokocrypto located?
Currently, Tokocrypto's headquarters is known to be located in the Indonesia.
How many cryptocurrencies are tradable on Tokocrypto?
If you join Tokocrypto, you can trade a total of 436 crypto pairs.
How much is Tokocrypto trading fee?
Tokocrypto has a spot maker fee of 0.1% and a taker fee of 0.1%. On the other hand, the maker fee for futures trading is N/A and the taker fee is N/A. Please note that these fees are for regular users, and the higher your membership level within Tokocrypto, the lower the fees.
How much is Tokocrypto trading volume 24h?
Tokocrypto's trading volume 24h is 14,562,886,359 KRW. Furthermore, the daily trading volume is showing a -30.27% change from the previous day.
How much is Tokocrypto weekly trading volume?
Tokocrypto's weekly trading volume is 100,055,604,685 KRW, with a total of 0 users. Furthermore, Tokocrypto's weekly trading volume is showing a change of 47.03% from the previous week.
How much is Tokocrypto monthly trading volume?
The monthly trading volume of Tokocrypto is 563,977,941,823 KRW. Furthermore, this month's trading volume is showing a change of -39.92% compared to the previous month.