Rekeningku

Rekeningku Review

What is Rekeningku?

Rekeningku is a crypto exchange from Indonesia that has been active since January 2018. 

Rekeningku Advantages

As main advantages with the platform, Rekeningku emphasizes that they offer instant withdrawals (when you withdraw in Indonesia), that they offer 24/7 support and that it is secure with cold storage technology. While the first of these advantages are limited to people from Indonesia, the latter two are naturally very important to all prospective users.

Statistics

On the date of first writing this review (19 August 2020), Rekeningku stated on its website that they had - per that date - processed more than 1 trillion transactions for more than 350,000 customers. We have difficulties believing this statement. 1 trillion transactions, divided by 350,000 customers, would mean that each customer on average had made almost 3 million transactions. It's possible that they mean that the total trading volume of all time at the platform amounts to 1 trillion Indonesian Rupiah, corresponding to approx. USD 675 million. This would make more sense.

Rekeningku Mobile Support

Most crypto traders feel that desktop give the best conditions for their trading. The computer has a bigger screen, and on bigger screens, more of the crucial information that most traders base their trading decisions on can be viewed at the same time. The trading chart will also be easier to display. However, not all crypto investors require desktops for their trading. Some prefer to do their crypto trading via their mobile phone. If you are one of those traders, you’ll be happy to learn that Rekeningku’s trading platform is also mobile compatible. You can download it to/from both the AppStore and Google Play:

US-investors

Why do so many exchanges not allow US citizens to open accounts with them? The answer has only three letters. S, E and C (the Securities Exchange Commission). The reason the SEC is so scary is because the US does not allow foreign companies to solicit US investors, unless those foreign companies are also registered in the US (with the SEC). If foreign companies solicit US investors anyway, the SEC can sue them. There are many examples of when the SEC has sued crypto exchanges, one of which being when they sued EtherDelta for operating an unregistered exchange. Another example was when they sued Bitfinex and claimed that the stablecoin Tether (USDT) was misleading investors. It is very likely that more cases will follow.

It is unclear whether Rekeningku permits US investors or not. We have read their Terms and Conditions and have not found any explicit prohibition of US investors. We urge any US investors to form their own opinion on the permissibility of their trading at Rekeningku though.

Rekeningku Fees

Rekeningku Trading fees

Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. Many exchanges divide between takers and makers. Takers are the one who “take” an existing order from the order book. Makers are the ones who add orders to the order book, thereby making liquidity at the platform.

Rekeningku charges what we call flat fees, meaning that both the takers and the makers pay the same fee: 0.10%. These taker fees are in line with, or even slightly below, the global industry averages for centralized exchanges. Industry averages have historically been around 0.20-0.25% but we now see new industry averages emerging around 0.10%-0.15%.

Rekeningku Withdrawal fees

Rekeningku charges a withdrawal fee of 0.0005 BTC per BTC-withdrawal. This fee is also in line with industry average, or even slightly below. The current global industry average is slightly above 0.0006 BTC per BTC-withdrawal so a competitive offering by Rekeningku here as well.

Rekeningku Trading View

Every trading platform has a trading view. The trading view is the part of the exchange’s website where you can see the price chart of a certain cryptocurrency and what its current price is. There are normally also buy and sell boxes, where you can place orders with respect to the relevant crypto, and, at most platforms, you will also be able to see the order history (i.e., previous transactions involving the relevant crypto). Everything in the same view on your desktop. There are of course also variations to what we have now described. This is the trading view at Rekeningku:

It is up to you – and only you – to decide if the above trading view is suitable to you. Finally, there are usually many different ways in which you can change the settings to tailor the trading view after your very own preferences.

Deposit Methods

In addition to depositing cryptocurrency to the platform, Rekeningku also lets you deposit fiat currency. However, only through wire transfer (not credit or debit card). If you need an exchange accepting credit or debit card deposits, just use our Exchange Filters and you'll find one in no time at all.

Seeing as fiat currency deposits are at all possible at this trading platform, Rekeningku qualifies as an “entry-level exchange”, meaning an exchange where new crypto investors can start their journey into the exciting crypto world.