Understanding Who’s Using Crypto in Indonesia
As crypto surges in Indonesia, its followers fall into a few separate camps:
The most die-hard fans of crypto are middle-income people, with good educational backgrounds, who are very serious traders. “But it’s still a side-gig for them. It’s between their 9-5 job, as a mental exercise, or for fun. For these guys, when their crypto crashes, they’re able to laugh it off, because they haven’t invested everything they have,” says Agung Wicaksono, Senior PR Executive.
Other crypto users in Indonesia are older, people who are experienced in investment and want to try something new to make a profit in a fast way. “These guys are risk-takers and profit chasers. They are serious investors of crypto, who see it as a genuine way to make substantial amounts of cash.”
And our final group is Crypto Fun-Seekers; young people who are in their early twenties, often students, who are actively taking part in crypto conversations online and engaging with equally young crypto influencers. “This group sees crypto as a fun game too. It’s an exciting, easy way to make some extra money, and trading becomes like esports gameplay. There’s also the community aspect of crypto for this group, being a crypto trader is part of their identity,” adds Hallira Haddad, Vero Indonesia’s Senior PR Executive.
To reach these three groups, crypto providers can turn to social media. Used as both a news channel and entertainment channel, social media platforms are easily accessed by everyone. But to effectively speak to these different audiences’ messages and packaging need to be targeted.
To reach Die-Hard Opportunists and Expert Investors, we suggest creating in-depth content exploring fundamental aspects of crypto as well as supplying technical analysis. Both segments are well educated in crypto and crypto trading, so they’ll be looking for information that they don’t already know.
High-quality guidance that helps them to make better deals is their primary concern. They’ve been doing this for a while and are confident when it comes to crypto trends and language. Flattering their knowledge and sophisticated understanding will encourage them to pay attention to your content and build trust.
Crypto Fun-Seekers, on the other hand, need easy to digest information that is packaged attractively. For this group, crypto trading is a fun addition to their lives! So, content should capitalize on this aspect.
A large part of their decision to trade is community influenced. They will tend to stick with tried and tested currencies or investments, listening to advice that comes from established individuals in their respective crypto communities.
Un-engaged anti-risk takers
This segment is an older generation who tends to steer away from cryptocurrency, preferring to stick with ‘real’ investment, and seeing crypto as an unstable option. To attract this demographic, crypto providers can think about working with prominent public figures, like certified financial advisors, or investment influencers. This will increase credibility, encouraging them to try something new. Positioning crypto as an investment like any other will help this audience to understand crypto better and feel more comfortable with the risks involved.
“It’s really important for crypto-providers to work closely with the Indonesian Government/financial regulator, and prominent media publications to build trust amongst skeptical audiences,” says Diah.
With so much market noise out there, investors in crypto look for credible sources to help them make decisions.