The current Bitcoin to Indonesian Rupiah exchange rate and charts from BTC to IDR as at today. The current bitcoin price and historical bitcoin chart are also available in the exchange converter on this page. Our currency rankings show that the most popular Bitcoin exchange rate is the XBT to USD rate. There is no official ISO currency code for Bitcoins, although XBT is commonly used. The currency symbol is BTC. The XBT to USD exchange rate has a fixed supply of 6,800 coins per day, with blocks being created at 10-minute intervals.
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Bitcoin to IDR Overview
This Bitcoin converter lets you convert any amount from one unit to another. You simply enter the amount in BTC or IDR units, select the desired world currencies, then click on the convert button.
Exchange rates are updated automatically every few minutes. Buyers and sellers can set up trades with each other. To start trading bitcoins with somebody else, both parties need to know who the other person is by exchanging contact information. The trader creates an order by specifying the type of trade (sell, buy) and quantity they want. After creating an order, it’s submitted to the network for approval. When a trade takes place, bitcoin’s new owner will receive their digital currency immediately while its seller will be paid out within 10-20 minutes.
And there’s no need to worry about fraud because Bitcoin only works if all parties involved have agreed beforehand. Just like cash, you don’t get anything unless you give something up in exchange. If you’re buying, that means you’re paying someone in advance so they’ll send you something later. If you’re selling, that means you’re giving someone money now so they’ll give you back more later. That difference between what we pay and what we get back is called interest. Interest always goes up over time because it’s just extra money taken out of your pocket!
The Bitcoin to IDR exchange rate has a current value of approximately 1,000,000 IDR. Bitcoin’s price peaked in November 2013 at over $1,100 USD per coin. In early 2016, the price of bitcoin dropped below $300 USD per coin. In 2017, the price increased exponentially from less than $1000 USD in January to more than $19000 USD in December.
At its peak on 19 December 2017, one bitcoin was worth more than $19,783 USD! On 17 September 2018, Indonesia’s Financial Authority banned banks and other financial institutions from dealing with cryptocurrencies. However, there are currently no regulations for trading or mining cryptocurrency privately in Indonesia.
Bitcoin ATMs can be found across major cities in Indonesia; these kiosks allow people to buy or sell cryptocurrency for cash. Citizens are still able to purchase bitcoins and other virtual currencies through private transactions outside of the formal banking system.
The Central Bank hopes that this ban will help prevent money laundering, terrorism financing, tax evasion, pyramid schemes and loss of public confidence in Indonesia’s fiat currency.
With time, it is likely that regulations for trading or mining cryptocurrency will change so that Indonesians can once again have access to them legally.
History of the Bitcoin to IDR Exchange Rate
For the first two years of its existence, Bitcoin’s value remained relatively stable. In October 2010, a major vulnerability in the network was spotted. Transactions weren’t properly verified before they were included in the transaction log or blockchain.
This allowed for users to bypass bitcoin’s economic restrictions and create an indefinite number of bitcoins. It wasn’t until October 2013 that this bug was fixed with a new version of the software. It is thought that during the 18 months when this bug was present, up to 4 million bitcoins may have been created.
However, due to the immense volatility between BTC and IDR at this time, it’s impossible to know exactly how many bitcoins would’ve been created if there hadn’t been a fix. From January 2011 through February 2012, bitcoin’s value increased from $0.30 per coin to over $32 per coin (this trend is shown on our interactive chart below).
The price then dropped back down as investors reevaluated the technical issues inherent in using bitcoin.
How to use this information?
Exchange rates between Bitcoin and the Indonesian rupiah are shown in the table below. The values in this table represent the number of bitcoins you would receive for one unit of the currency. For example, if you traded 5,000 USD (US Dollars) with a person who had 15,000 IDR (Indonesian Rupiah), they would give you 30 BTC (Bitcoin).
Bid/Ask Spread: The difference in value between the highest bid price and the lowest ask price is called the bid/ask spread. It’s important to consider the bid/ask spread when exchanging money because it can affect your profits. If you’re trading at the low end of a bid/ask spread, then it will take more units of your currency to get what you want. If you’re trading at the high end of the bid/ask spread, then it will take fewer units for them to get what they want.
What is IDR in Crypto?
The Indonesian Rupiah (IDR) is the official currency of Indonesia. It is abbreviated as IDR or Rp with the rp representing Republik Indonesia. The IDR is subdivided into 100 sen, which is represented by the symbol cents. The currency was first introduced in 1946 after World War II. The coins currently available include 1, 5, 10, and 50 sen.
Banknotes available for circulation include 100 000 (US$ 8), 500 000 ($4), 1 million ($8), 2 million ($12), and 5 million dollars ($40). There are two banknote printing facilities in Indonesia, located at Jakarta and Surabaya. These notes are printed by PT Banknote Denah Timur Tbk. The government announced that they will be discontinuing all banknotes that have a value of less than 1000 rupiahs on August 9th, 2018 due to concerns over the cost of producing them.
The Bitcoin to Indonesian Rupiah exchange rate (BTC/IDR) is updated every minute. The exchange rate fluctuated between 1,053 IDR per 1 BTC on Jan 17th, 2019 at 07:00 UTC, down to 527 IDR per 1 BTC on Jan 18th, 2019 at 07:00 UTC. The highest price of 1,092 IDR was recorded on Feb 16th, 2018 at 07:00 UTC.