The central Bank of Indonesia has been consistent in warning about Crypto risks. Inspite of that, the number of people investing in Bitcoin has increased. And what’s even more shocking is the fact that very soon bitcoin traders will be more than people using local exchanges, which have been existing since the past 100 years.
Bitcoin’s popularity overshadows the stocks.
According to the website of Indonesian Digital Asset Exchange, a total of 1,147,430 people have registered to it already. The Exchange was founded in 2014 and has gathered a huge number of people while the Indonesian Stock Exchange, more than hundred and ten years old, has only 1.18 million registered candidates. Indodax is considered to be one of the biggest exchanges in the country but not the only one. As per analysis, it is assumed that the number of bitcoin investors have already raised above the Stock traders.
By the end of 2018, Indodax is going to have about 1.5 million registered participants. The CEO of Indodax, Mr Oscar Darmawan said “we are seeing almost 3,000 new members signing up everyday. Most people are trading in bitcoins though transactions in ethereum has increased significantly of late”.
The Central Bank of Indonesia, ‘Bank Indonesia’, has been warning the commoners, the risks of investing in Cryptocurrency. However, the Central Bank has not declared any forced closure of the exchanges. According to the latest reports, a large number of people has not agreed to the Bank’s verdict and invested in Cryptos.
The general public have refused to obey the Bank’s statement. It is not just Indonesia that has this emerging popularity of digital exchanges over the traditional ones. In the beginning of 2018, reports were viral regarding Brazil’s bitcoin investors to be more than double the people investing in traditional stocks.
Looks like digital exchanges have won the hearts of millions despite the so-called possible risks.