Is Bitcoin Doubler Legit in Indonesia?

Today, Bitcoin trading is a well-known and popular way of making profit. Cryptocurrency traders and investors from all the counties of the world desire to participate in the cryptocurrency market. Bitcoin doublers, like our, propose investment plans that enlarge your BTC deposit twice — such platforms are the most beneficial for Bitcoin holders. Let`s consider, if Bitcoin doublers are legit in Indonesia.

Is Bitcoin Doubler Legit in Indonesia?
5Is Bitcoin Doubler Legit in Indonesia

Bitcoin Regulation in Indonesia

There is a good piece of news for all owners of Bitcoin and other virtual currencies — now in Indonesia it is legal to hold and trade cryptocurrency.

On 7 December 2017, central bank of Indonesia (Bank Indonesia) issued a regulation banning at the use of cryptocurrencies including Bitcoin as a payment means beginning with 1 January 2018.

February 2019, the Indonesian Trade Ministry Futures Exchange Supervisory Board (Bappebti) issued regulation No.5/2019 that includes regulations for cryptocurrency exchanges, as well as, a formal adoption of cryptocurrencies as commodities. Based on the new decree, virtual currency trading is now legalized in the country.

The new regulation includes a set of requirements for cryptocurrency exchanges:

  1. BTC exchanges must hire services of IT security experts;
  2. Exchanges must store transactions data for 5 years at least;
  3. One of their servers must be domiciled in Indonesia;
  4. Crypto exchanges must include clearly defined organizational structures with branches like audit, client support, legal IT and others.

However, despite the formal acceptance given to digital currencies as commodities, the prohibition on cryptocurrency payment is still active.

Can I Legally Double Bitcoin in Indonesia?

Insofar as Bitcoin trading is legit in Indonesia, inhabitants of the country can legally double their BTC funds. You have to use Bitcoin doublers for this purpose. Work only with trusted services, that do not offer unreal investment plans (double BTC in 1 second, 1 minute, 1 hour etc.)

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