Crypto Transactions on the Luno App Increase 4-fold Throughout 2021

Luno, a crypto exchange platform recorded a fourfold growth in transaction volume and an increase in the number of customers in Indonesia by up to 75 percent throughout 2021.

Globally, Luno has also achieved several milestones, such as a US$ 700 million funding received by its parent company (Digital Currency Group), as well as the growth of team members to nearly 700 employees and serving more than 9 million customers in more than 40 countries.

Luno Indonesia Country Manager, Jay Jayawijayaningtiyas, said Indonesia has tremendous potential to become one of the largest crypto players in Southeast Asia.

This is evidenced by the number of active crypto asset investors in Indonesia growing almost five times, of which one-third is dominated by Bitcoin investors.

“In addition, the value of crypto trading transactions in Indonesia has almost tripled in the last year. This figure shows the strong public interest in crypto assets, thus encouraging us to be more active in educating the public by providing simple and easy-to-understand content,” said Jay via his statement, Wednesday (29/12/2021).

Despite experiencing rapid and unprecedented growth, Luno believes the adoption of crypto assets is still at an early stage. The popularity of crypto has indeed spread to almost all countries, but in reality only 300 million people in the world are investors and only about 18,000 business entities use crypto.

Luno and YouGov Survey Results About Crypto Interest in Indonesia

A survey by Luno and YouGov in 2021 found several reasons for the general public’s hesitation to invest in crypto assets.

Research results show that around 62% of Indonesian respondents said they did not invest in crypto assets because they did not understand how it worked.

Still related to this, they also mentioned that better knowledge of crypto will be the most important factor to encourage them to start investing in crypto assets.

It’s in line with the company’s crypto education program called the Luno Academy, which aims to educate the public about crypto investing. They also focus the education in Indonesia which is their main market right now.

Educational Programs

In 2022, the company will launch more interesting educational programs to help Indonesians who want to invest in crypto but are unfamiliar with the concept. Luno also provides support to the Indonesian government, which is focusing on standardizing crypto industry regulations.

“New regulations or policies regarding crypto will provide better clarity and protection to investors and business entities,” said Jay.

The company believes this initiative will be a good starting point for increased crypto adoption, as people will feel more confident and secure when entering the market.

It should be noted that for Bitcoin investment you must use cold money, because all investment assets carry a risk of price decline, including crypto assets such as Bitcoin. Crypto assets are known as investment assets whose value continues to increase.

Within 10 years, the price of Bitcoin managed to rise from tens of thousands of rupiah to almost 1 billion rupiah. Therefore, Bitcoin has been named the best performing asset in the last ten years.

But, keep in mind that the price of Bitcoin and crypto assets in general is known to be very volatile or volatile. For example, if you use cold money for this investment, your risk of stress may be reduced because the funds you use for these investments are not funds that will be used in the near future.

So, have you anticipated if these funds are reduced in value or even lost due to a significant price drop? Well, you can minimize panic when the Bitcoin price drops by depositing Bitcoin assets. This means that you don’t sell your Bitcoins until the price goes up again.