Why is the BTC to IDR pair important to traders?
BTC to IDR is a very popular crypto-to-fiat pair in Indonesia and abroad. Since its inception in 2009, Bitcoin – the base currency of this pair – has proved to be the world’s top cryptocurrency in terms of market capitalisation and cost. The pair’s counter currency – Rupiah – is the official national currency of Indonesia. According to Bloomberg, Indonesian Rupiah can take the crown as Asia’s strongest currency in 2020.
The crypto market, including Bitcoin, is extremely volatile, which provides huge potential for speculation. Observing the popularity of BTC to IDR exchange transactions, there are immense opportunities for traders to profit from the pair’s trade.
BTC to IDR trading: the ultimate way to invest in Bitcoin
Although the volume of BTC to IDR crypto-to-fiat currency pair is much lower than BTC to USD, Bitcoin to IDR trading is steadily growing. The ultra-volatile nature of BTC/IDR makes it a strong alternative to traditional Forex markets.
Bitcoin traders can always profit from BTC price swings. You can either go long or short, depending on Bitcoin to IDR price movement, and benefit from the price difference.
Proven to be a lucrative investment, Bitcoin consolidates its position as the world's top cryptocurrency. With a remarkably strong start of 2020, investors share a bullish view on Bitcoin price future. Convert BTC to IDR at Currency.com and trade it with 100x leverage and tight spread.
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Bitcoin was launched in 2009 as a new type of digital currency. Through the years, it has gradually gained worldwide popularity to become the most widely-accepted crypto in the market. Today, it remains its strong position at the forefront of the industry, serving as the gold standard for emerging projects.
Due to its decentralised nature, BTC transactions do not require a middleman, meaning no banks or other authorities are involved. In addition to being an alternative payment network and a store of value, Bitcoin offers colossal opportunities for traders.
Quick facts about Bitcoin:
Founded in 2009, it is the first decentralised cryptocurrency;
Bitcoin is considered both a commodity and a currency;
It is a brainchild of a mysterious person or group known as “Satoshi Nakamoto”;
The first Bitcoin transaction was made in May 2010 to buy 2 Papa John’s pizzas;
Bitcoin ATMs are now available worldwide;
The maximum number of bitcoins is 21 million;
80% of all bitcoins have already been mined.
In April 2010, Bitcoin was launched at BitcoinMarket.com, the first cryptocurrency exchange, at a starting price of $0.0025 (Rp 34.38. The digital coin was quick to attract a lot of attention from the emerging crypto community, with the BTC price surging to generate more than a thousand per cent earnings to its initial owners.
As the cryptocurrency is not tied to any particular country or region, domestic and geopolitical factors can have less of an impact on the value of Bitcoin. Instead, you should keep an eye on its demand, adoption rates, regulations and market sentiment.
This Bitcoin price chart shows BTC/MYR price rate in real-time. Analysts expect 2020 to be an important year for Bitcoin, making positive forecasts regarding the Bitcoin to MYR price.
In the Bitcoin to Rupiah pair, BTC is the base currency and the IDR is the counter currency, which means the BTC/IDR chart shows how much Bitcoin is worth as measured against the Indonesian Rupiah.
Indonesia is a Southeast Asian country, which is made up of small islands. The currency of Asia's most populous nation is often informally called the “perak”, which is Indonesian for silver.
Analysts believe, the Indonesian Rupiah has good chances to outperform its peers and top the league of Asian currencies in 2020. Last year the Rupiah was third, after the Thai Baht and the Philippine peso. This year, the IDR extends its gains, rallying to its highest levels on the improved outlook for Southeast Asia’s largest economy and growing risk appetite from global investors.
Those interested in the BTC/IDR pair trading should keep a close watch of crypto market news and the Bank of Indonesia releases regarding interest rates and monetary policy changes.