In Indodax.com, you can also see the Bitcoin price on foreign markets which is usually different compared to the price in Indonesian market. On BTC-USD markets such as Coinbase, Bitstamp or ItBit, the Bitcoin price is written in USD (for example, one BTC is 430 USD). To make it easier for our members, we convert those numbers into IDR using the API provided by Yahoo Finance. You can see the conversion process in Yahoo Finance by clicking here. We are also using Yahoo Finance’s API to convert CNY to USD for Bitcoin markets in China such as BTCChina and Huobi.
Please note that the exchange rate in Yahoo Finance changes every minute, following the latest movement of the price. This is fairly different compared to the price in iBanking websites that usually only changes once within a day. This is why sometimes the exchange rate that we are using is different than the exchange rate that you see in Indonesian’s local banks, considering our rate is more updated.