BitX’s service in Indonesia will center around a market-price buy-sell exchange. Customers can use the apps not only to buy and sell Bitcoin in Indonesian rupiah on BitXs local exchange, but also to sign up for new accounts and complete the know your customer (KYC) registration process.
With a median age of 27.9 and spending power on the rise, Indonesia presents a large market for Bitcoin business.
Indonesia already has a number of established Bitcoin companies offering a varied range of services. One such is Bitcoin Indonesia, which has been operating since late 2013 and began offering an open-order book exchange in March 2014.
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