New reports show that more than 60% of crypto investors in the country are aged between 18 and 30, what means an undeniable youth presence in this market.
Young investors on the rise
A significant chunk of Indonesian crypto investors—26.9%—are in the 18-24 age group, while 35.1% fall between 25 and 30.
This surge in young investors reflects a growing interest in digital assets among Indonesia’s youth. Ir. Kasan, the head of the Indonesian Commodity Futures Trading Regulatory Agency, the Bappebti, told the need for financial literacy among these young investors.
“Understanding finance, including crypto, is crucial,” he noted. This knowledge helps the younger generation make informed investment decisions and steer clear of unnecessary financial pitfalls. And we all know there are quite a few pitfalls in the crypto industry.
The Indonesia Millennial and Gen Z Report for 2024 reveals that 38% of Millennials and 41% of Gen Z are budgeting their finances regularly, focusing on saving and investing.
Also, it shows that 32% of Millennials and 26% of Gen Z are setting aside part of their income specifically for investments.
This trend shows a growing awareness of financial planning among young Indonesians, especially through cryptocurrency.
Regulatory moves to protect investors
As more young people step into crypto, Indonesian regulators too are stepping up their game to create a safe investment environment.
Bappebti extended the compliance deadline for crypto exchanges to obtain a Physical Crypto Asset Traders license.
This extension, which runs until late November 2024, is part of Bappebti’s commitment to investor protection and maintaining market integrity.
This latest regulatory update is the third revision to Bappebti’s framework for physical trading of crypto assets since 2021, so we can tell that Indonesia’s approach is pretty flexible and progressive as the market continues to grow.
Fighting crypto fraud
To tackle the rising issue of crypto fraud, Bappebti has teamed up with Binance’s Financial Intelligence Unit and the Indonesian exchange Tokocrypto to collaborate with Indonesia’s Criminal Investigation Agency, Bareskrim.
This partnership has already led to several arrests and the recovery of around $200,000 in fraudulent assets.
The enthusiasm for cryptocurrency is clear when looking at transaction volumes.
As of September 2024, Indonesia’s crypto transactions reached IDR 33.67 trillion, about $2.13 billion, which is a slight dip from August.
However, from January to September this year, total transactions hit IDR 426.69 trillion, or $27.10 billion, marking a nice increase of nearly 352% compared to the same period last year.
