Upbit Indonesia Review: Features, Fees, and How It Stands Against Competitors

Looking for a crypto exchange that blends South Korean tech muscle with local Indonesian banking? Upbit Indonesia review breaks down the platform’s strengths, fees, security, and how it compares to the big players you’ll meet on the Indonesian market.

What Is Upbit Indonesia?

Upbit Indonesia is the Indonesian arm of South Korea’s Upbit, a crypto exchange launched by fintech group Dunamu Inc. in 2017. The local subsidiary operates under PT Indonesia Digital Exchange and earned a license from the Commodity Futures Trading Regulatory Agency (BAPPEBTI) in 2021. Since its 2018 launch, Upbit Indonesia has grown to support 203 digital assets across 272 trading pairs, handling roughly 35% of Indonesia’s total crypto‑trading volume as of late 2024.

Core Trading Features and Technical Specs

Upbit Indonesia focuses on spot trading only. Users can place limit, market, and stop‑limit orders in the three main markets: IDR, BTC, and USDT. The platform boasts a 99.99% uptime record in 2024, and order execution averages 0.8seconds even during peak traffic. For developers, a REST API is available for institutional clients, while retail traders enjoy a web interface that works on all modern browsers.

The mobile app (v4.2.1, October2024) is rated 4.7/5 on iOS and 4.6/5 on Android. It includes lock‑screen price widgets, custom price alerts, and push notifications for market moves. Minimum system requirements are Android8.0+ or iOS13.0+ with at least 2GB RAM.

Security Measures and Regulatory Compliance

Security is a headline feature. About 98% of user funds sit in geographically distributed cold wallets. Two‑factor authentication (SMS or authenticator app) is mandatory, and withdrawals above 5million IDR require a separate fund password.

Regulatory compliance is overseen by BAPPEBTI, which enforces a four‑tier KYC process. Level‑1 verification (KTP + selfie) allows daily limits of 50million IDR, while full verification raises the cap to 500million IDR after 2-3 business days of review. The exchange does not offer margin, futures, or leveraged products, staying within a 1:1 leverage policy that regulators favor.

Cybersecurity firm Fireblocks highlighted Upbit’s post‑2019 security overhaul as a benchmark, noting that 68% of top exchanges now adopt similar protocols.

Fee Structure: What You’ll Pay

Upbit Indonesia’s fee schedule is straightforward but not the cheapest. For IDR markets, maker fees sit at 0.23% and taker fees at 0.33%. BTC and USDT markets charge a flat 0.51% for both maker and taker. Deposits are free regardless of method. Withdrawal fees vary: 0.0008BTC for Bitcoin and a flat 25000IDR for fiat withdrawals.

By comparison, Binance Indonesia offers 0.1% taker fees for high‑volume traders and up to 125× leverage, while Indodax charges as low as 0.11% taker fees but supports more than 250 coins.

User Experience and Mobile App Highlights

According to the NFTEvening 2025 Crypto Exchange Report, Upbit Indonesia scores a 9.4/10 for user experience-higher than Tokocrypto (8.7), Indodax (8.2), and Pintu (8.9). The app’s lock‑screen widget and real‑time price alerts are repeatedly praised on Reddit and Trustpilot.

On Trustpilot the exchange holds a 4.1/5 rating from 1,247 reviews. Positive comments often mention fast IDR withdrawals and an intuitive interface, while complaints focus on limited customer‑support channels (email+chat only) and slower response times during high volatility.

Educational resources are a strong point: 47 interactive tutorials in Bahasa Indonesia and a dedicated “Upbit Lounge” forum (12,500 active members) help new traders reach basic competency within two hours on average.

How Upbit Stacks Up Against Local Competitors

Pros, Cons, and Who Should Choose Upbit Indonesia

Pros

• Strong regulatory compliance under BAPPEBTI.
• Seamless IDR on‑ramp via 12 partner banks.
• High‑scoring user experience and mobile app.
• Robust security backed by Fireblocks standards.
• Educational resources in Bahasa Indonesia.

Cons

• No margin or futures products; limited appeal for high‑frequency traders.
• Higher taker fees than some local rivals.
• Customer support limited to email and chat, slower response in spikes.
• Fiat support confined to IDR only.

Best fit: Retail investors who value a regulated environment, fast IDR deposits/withdrawals, and a clean UI. Not ideal for traders chasing high leverage, complex derivatives, or the lowest possible fees.

Getting Started: A Quick Step‑by‑Step Guide

1. Download the Upbit mobile app or visit upbit.co.id (web).
2. Register using your email and create a strong password.
3. Complete Level‑1 KYC - upload your KTP and a selfie.
4. Link one of the 12 supported banks (e.g., BCA, Mandiri) for IDR deposits.
5. Enable 2FA via SMS or an authenticator app.
6. Deposit IDR, then trade any of the 203 listed assets.

The entire process typically takes under 30minutes for Level‑1 verification; full Level‑4 verification may require 2-3 business days.

Future Outlook

Upbit Indonesia is rolling out staking for 12 PoS coins (APY 3.5‑8.2%) and plans to integrate the national QRIS payment gateway by early 2025. The 2025 roadmap also hints at USD‑stablecoin futures pending BAPPEBTI approval, and an AI‑driven alert system for price spikes.

Given Kakao’s $3.2billion investment in Upbit’s global push and Indonesia’s low 0.11% crypto‑trading tax, the exchange is poised to keep a solid market share. Regulatory risk remains-Indonesia may implement a 0.5% capital‑gains tax in 2025-but Upbit’s compliant track record should help it navigate any changes.