The term deposit refers to the process of adding a digital asset balance or fiat currency (eg Rupiah) to a user’s account. Its process is usually done when a user wants to buy/sell digital assets on an exchange. For digital asset deposits, it will usually be entered into the user’s account after some confirmation. While fiat currency deposits will enter the user’s account depending on the bank and the method used.

Digital assets are a relatively new financial phenomenon, and most people often underestimate their enormous earning potential. They simply store their digital assets in an e-wallet, believing that one day they can resell their coins for more than they paid for when they bought them. Digital coins stored in electronic wallets do not generate money, but crypto deposits.

At Indodax there are various ways, but the following is an example of how to deposit Rupiah to your Indodax account:

Click the “wallet” menu, and select “Rupiah” Deposit Method:

1. Bank Transfer

Enter the amount you want to deposit. Select the source of funds you want to deposit, select Bank Transfer (Virtual Account, etc.)

• BCA Virtual Account
• Sinarmas Virtual Account
• Mandiri Virtual Account
• Artha Graha Virtual Account
• Permata Virtual Account
• BRI Virtual Account

2. Cash

If you choose the cash method, you can make a deposit by handing over cash through the nearest Indodax branch office.

3. E-wallet

In Source of Funds, select ‘Electronic Money (OVO, ShopeePay, etc.)’, then click ‘QRIS (E-wallet)’ if you want to use ShopeePay, OVO, Dana, LinkAja, and other e-wallet supported by QRIS

1. Gopay
2. OVO
3. Shopeepay and others.

4. Retail

Under Source of Funds, select “Retail” then follow the instructions provided.

Please be willing to wait, your deposit will be processed automatically within 1-3 hours.

How to Deposit Rupiah through the Indodax Application:

1. Go to the Wallet menu. You will see your account balance. Then, select “IDR Wallet”
2. In IDR Wallet, select ”Deposit”
3. Enter the amount of Rupiah you want to deposit.
4. Select the payment method you want.
5. After selecting the payment method, click “Next”
6. If you choose the Virtual Account payment method, copy the bank account number listed and make sure to transfer the funds through an account in your own name.

Pay attention to the following instructions so that the deposit can be processed immediately:

1. Make sure the name in the Virtual Account (VA) is the same as the name on the Indodax account.
2. The TRUE AMOUNT transfer includes a unique number (if any).