Tokocrypto, Indonesia's leading crypto exchange, has just been registered by the country's regulatory body for crypto asset trading, the Commodity Futures Trading Regulatory Agency (BAPPEBTI). According to the company, it is Indonesia's first regulated crypto exchange platform that allows traders to legally purchase and sell digital assets. The live Toko Tokens are trading at $0.329575 USD with a trading volume of $16,183,260 USD.
Tokocrypto was founded by a group of crypto enthusiasts who believe blockchain technology has the potential to improve the lives of the general public. QCP Capital and Digix are two of its current backers. Tokocrypto CEO Pang Xue Kai said in a press release that with this license, Tokocrypto may now offer services to corporate clients and high-net-worth people in Indonesia, bringing them closer to dominating the Southeast Asian crypto exchange market.
Tokocrypto's registration with Indonesian regulators is a "huge milestone for Tokocrypto," he said. "It brings us one step closer to being the leading cryptocurrency exchange platform in Southeast Asia," he added, "As a result, Tokocrypto can now serve corporate clients and high-net-worth individuals in Indonesia as a result of our approval."
According to the press release, the Indonesian market has a lot of potential for cryptocurrency. The country's digital economy is expected to grow from $40 billion to $133 billion by 2025 according to a 2019 report. As a result of this uncertainty, BAPPEBTI issued two regulations earlier this year to clarify the situation for all cryptocurrency exchanges in Indonesia by specifying compliance rules for all of them. For BAPPEBTI's new rules, cryptocurrency trading will only be permitted on officially registered exchanges starting in February 2020.
Additionally, Tokocrypto will continue to work with the BAPPEPTI as well as other government agencies in Southeast Asia on making Tokocrypto a fully licensed exchange, as Kai stated.
For the first time ever, Binance Smart Chain (BSC) began trading the Indonesian local virtual currency project "Toko Token (TKO)" in the largest virtual currency launchpad in the world recently, according to Toko crypto.
With a supply of 500 million shares, the currency was launched at $0.1 per coin with a total supply of 500 million coins. At the time of launch, TKO had 201,406 oversubscribers with a total of 10,502,201 BNB.
The TKO claims to be the first in Indonesia to combine the advantages of both the CeFi and the Decentralized Finance (DeFi) models. 'The birth of TKO is a significant accomplishment for us." Pang Xue Kai, the founder and CEO of Tokocrypto platform, says "it will be the best tool to help Indonesians realize the unlimited potential that we can achieve through blockchain technology."
"We have entered the era of blockchain technology and virtual currency." As of now, Indonesia's 270 million people can take advantage of an advanced financial system that is comparable to those in developed countries, thanks to BSC technology and user-friendly services.
According to Kai, "TKO offers a hybrid currency model" as the country's first virtual currency project. Many of the currency's services include the Exchange Platform Token, which provides trading fee discounts, airdrop entitlement, and merchandise redemption.
TKO Deposit, TKO Savings, and TKO Cashback are all deposit and savings programs that can be used with TKO. Additional DeFi platforms such as farming pools and lending will be able to use TKO as a DeFi product. Tokocrypto will create Indonesia's first marketplace for digital collectibles and creative assets from emerging young artists.
How to Buy Tokocrypto
1.Compare crypto exchanges
A cryptocurrency exchange is the best place to buy Tokocrypto. To find a service that meets your needs, compare features like low fees, ease of use, or 24-hour customer support.
2.Create an account
Verifying your email address and identity is required to create an account on the exchange. Prepare your phone and some form of photo identification.
3.Make a deposit
It is possible to make a deposit of $ via bank transfer, credit card, cryptocurrency or debit card once you have been verified.
Tokocrypto can now be exchanged via your money. This is as simple as entering the desired purchase amount and clicking buy on more user-friendly exchanges. You now have the option to transfer your Tokocrypto to a personal wallet if you so desire.