Guide on Tokocrypto and How It Functions

Tokocrypto Platform Overview

Paul Xue Kai, an engineer experienced in the oil and gas sector, now pursuing the blockchain space, founded Tokocrypto. In 2018, he unveiled Tokocrypto after exploring blockchain technology in 2015. 

Despite initial hesitation by the government, it was the first crypto exchange to be registered with BAPPEBTI, Indonesia’s crypto regulator. BAPPEBTTI regulates futures, cryptos, derivatives, and more.

In 2020, Tokocrypto formed a strategic partnership with Binance to boost liquidity and security. The following year, it unveiled the TKO token and developed numerous new financial services.

TKO, the Native Token

TKO is Tokocrypto’s native token and is developed on the BNB chain. Examples of benefits linked to it include trading fee discounts, airdrops, merchandise redemption, and access to exclusive events. 

The token was also developed to aid in enhancing financial inclusion in Indonesia. As of September 18 this year, TKO’s market stats are as follows:

• Market cap of $62.51M
• Circulating supply of 169.20M (33.84%)
• Maximum supply of 500M
• A price of $0.369421.

Tokocrypto Dashboard

A person arrives on the Tokocrypto dashboard after completing Know Your Customer (KYC) authentication. It acts like a central command center and offers a real-time view of one’s portfolio, transaction history, and open orders.

It can be utilized to purchase, trade, or sell cryptocurrencies.

Creating an Account on Tokocrypto

1^st step: Visit Tokocrypto or download the application and use a mobile number or email to sign up. One can also utilize their Binance login information.

2^nd step: This step entails completing KYC verification. One should select whether they are Indonesian or a foreigner.

3^rd step: One should complete face verification. Tokocrypto uses a device’s camera to make an image of a person’s face to verify biometric information.

4^th step: One should upload a government-provided ID and other documents requested by the exchange. 

Depositing Crypto on Tokocrypto

The following steps should be followed:

1^st step: Tap the ‘Wallet’ button at the homepage’s bottom right corner and select ‘Deposit.’

2^nd step: One should confirm deposit information by ensuring they have selected the right network for crypto transfer. A special address will be sent to which to send crypto.

Withdrawing Crypto on Tokocrypto

1^st step: One should tap the ‘Wallet’ button, select ‘Withdraw,’ and choose the preferred crypto to withdraw.

2^nd step: One should confirm withdrawal information by picking the correct network for transfer, entering the special address where the crypto can be sent, and verifying all details before withdrawal

Depositing Crypto on Tokocrypto

Tokocrypto utilizes the Blu payment approach to facilitate deposit of Indonesian rupiah (IDR). The process involved entails:

• Opening an account with BCA Digital
• Linking Tokocrypto to BCA Digital
• Clicking ‘Deposit’ and selecting Blue by BCA digital
• Entering the amount to deposit
• Entering the Blue PIN to approve payment

Purchasing TKO on Binance

The steps involved entail:

• Signing in using a username and password
• Depositing fund
• Searching for TKO 
• Placing an order
• Safe storage in a secure wallet

Referrals 

The features of Tokocrypto’s referral program include:

• Completing KYC authentication to participate
• A commission of up to 20% on trades made by friends
• A commission rate of up to 50%
• Commissions deposited into the account every hour

Account Security

Tokocrypto provides a multilayer account security system that comprises device management, anti-phishing code, two-factor authentication, address management, and suspicious account activity insight.

Benefits of Tokocrypto

• The exchange comprises multilayer security
• Has the ability to use various trading strategies
• Easy registration with fast authentication
• 24/7 support

Drawbacks of Tokocrypto

• It does not currently provide leveraged trading
• Only the Indonesian rupiah is available for fiat currency trading
• Reducing the exchange fee means maintaining a trading turnover of at least 0.5 BTC.

Future Prospects

Tokocrypto is poised for continuous growth. There are plans to boost its decentralized finance offerings, explore strategic collaborations locally and globally, and improve its educational platform.

The exchange seeks to further improve its user experience and introduce security innovations to retain its market dominance.