How to buy crypto (Bitcoin) at Bank Rakyat Indonesia (BRI)?
Crypto is more popular than ever in Indonesia! By following the steps in this article, you can buy Bitcoin & other cryptocurrencies with your bank account at BRI. Discover the crypto policy of Bank Rakyat Indonesia & start investing today!
How to buy crypto with Bank Rakyat Indonesia?
Step 1: open an account with a crypto exchange
It is not possible to buy crypto directly from Bank BRI. That is why you must first open an account with a reliable crypto exchange. Crypto exchanges allow you to trade hundreds of different altcoins. Try out a free demo at one of the exchanges below:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with BRI after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.|
Step 2: deposit money with BRI
You can deposit money directly from your bank account at Bank Rakyat Indonesia after opening an account. Governments are starting to regulate crypto exchanges more than ever: as a result, often you have to confirm your identity before you can deposit money.
Step 3: buy crypto with BRI
After you open an account, you can immediately buy your favourite crypto through your account at Bank Rakyat Indonesia. Within the platform, select that crypto you want to buy and enter the amount you would like to invest. You can also invest in crypto with small amounts: Bitcoin and many other crypto are, in fact, divisible.
Press the buy button to send the order to the crypto exchange. It can take a few seconds to minutes for the order to be executed. While this is happening, it is always possible that the price fluctuated a bit, especially when there is a lot of trading going on. Due to volatility, you can sometimes end up paying more than expected. With a limit order, you avoid paying more than you want, but there is also a chance that the order will not be filled at all.
What is BRI’s stance on crypto?
Bank Rakyat Indonesia has not published a specific crypto policy. I have not received any complaints from Bank Rakyat Indonesia customers; therefore, it is probably possible to transfer money to a crypto exchange. Do choose a reliable crypto exchange: this prevents your bank acccount from being blocked.
What you need to know before buying Bitcoin from Bank Rakyat Indonesia
- Bitcoin was developed in 2009 by an unknown person or group of people by the name of Satoshi Nakamoto.
- Bitcoin is completely decentralized: therefore, there is no third party influencing the cryptocurrency.
- There will never be more than 21 million Bitcoin on the market. Through mining, new Bitcoin are still slowly entering the market.
- Bitcoin transactions are kept on a public ledger, known as the blockchain. As a result, all Bitcoin transactions are 100% transparent.
- Bitcoin’s value is very volatile and since its inception, the price has fallen & risen sharply on a regular basis. Therefore, only buy Bitcoin with money you can afford to lose!
About Bank Rakyat Indonesia
Also known as Indonesian People Bank, Bank Rakyat Indonesia (BRI) focuses mainly on microfinance. The bank lends money to over 30 million retail customers through 4,000 branches, making it one of the important banks for Indonesia’s economy.
BRI is Indonesia’s oldest bank and was founded in 1895. Today, the bank is 53% government-owned.
The bank was originally known as Poerwokertosche Hulp and Spaarbank der Inlandsche Hoofden by the Dutch colonial power.
Can you buy Bitcoin at BRI?
You can buy Bitcoin & other crypto from BRI, but you have to go through some extra steps for this. At the top of this article, you can find a list of crypto exchanges you can go to. In fact, by linking your Bank Rakyat Indonesia bank account to a crypto exchange, you can buy crypto directly with the money in your bank account. However, always be aware of the risks: crypto are very volatile!