Indonesia, the fourth-largest country in the world by its population, shows a rapid advancement of cryptocurrency-related technologies. BitBot, a new mobile application available for Android users, barges in as a new solution to make it easier for people to trade Bitcoin using indonesian fiat currency, the Rupiah.
Though the crypto trading market in Indonesia is still not as big as in many western countries, the trading volume in Bitcoin is quite impressive.
The Island of Bitcoin
Hundreds of merchants have begun accepting payments in Bitcoin as well, especially in Bali due to the existence of the Bitislands Project—an idea shared by the local community which aims to turn Bali into the world’s first Bitcoin island.
Due to the volatility of the Bitcoin price, most Indonesian Bitcoin users are also traders seeking for profits from trading BTC.
BitBot, a new mobile application available for Android users, comes barging in as a new solution to make it easier for people to trade Bitcoin with Rupiah.
“BitBot uses Bitcoin.co.id’s API, the biggest Bitcoin exchange in Indonesia with more than 145,000 members. Users registered in Bitcoin.co.id can pair their smartphones to their online accounts and play with the trading bots provided by BitBot,” said Oscar Dermawan, CEO Bitcoin Indonesia (bitcoin.co.id) to Cointelegraph.com.
Order Book and Market Mode
With BitBot Users can trade using two methods in the app: Order Book and Market Mode. Through Order Book, they can submit up to 10 buy/sell orders in the price they want with a custom price difference only with a single click. While in Market Mode, the app will automatically submit an order when the price reaches a specific price difference compared to the market they choose.
There are 7 markets available in the app, including Huobi, BitStamp and ItBit. Users can place orders based on the Bitcoin price in the foreign markets by using the funds they have in Bitcoin.co.id.
BitBot aims to make it easier for Indonesian users to trade Bitcoin without having to continuously check the changes of price in foreign Bitcoin exchangers. It also comes with special alarms to notify you when the price increases or declines drastically in the market you choose.
BitBot aims to attract more Indonesian Bitcoin users to trade Bitcoin more easily through their smartphones. This app can be downloaded for free on Google Play Store.