Great news to our Indonesian users! You can now easily deposit Indonesian Rupiah (IDR) from your bank account and buy crypto through our partnership with StraitsX using the intermediary stablecoin XIDR, which is pegged to IDR on a 1:1 basis.

In this post, you will learn how to:
 A. Mint XIDR by depositing IDR from your bank
 B. Top up your Coinut XIDR wallet through direct bank transfer
 C. Withdraw XIDR from Coinut to your bank

You need to have a StraitsX account first to deposit or withdraw IDR through StraitsX. Don't have a StraitsX account yet? Sign up here.

A. Mint XIDR by depositing IDR from your bank

Step 1: Link and verify your Indonesian bank account to StraitsX

  • Go to “Transfer In”, select “Bank Transfer” and click “Link Bank Account”
  • Select your bank from the list and provide your bank account number
  • Confirm and verify

Learn how to from this tutorial:

For more information, please refer to this guide: Link your Indonesian bank account

Step 2: Link and whitelist your Coinut wallet address in StraitsX (one-time only)

  • Go to "Account"
  • Look for “Settings”
  • Select “Add New” to add your Coinut blockchain address
  • Select the blockchain address & network types, then input your blockchain address string
  • Confirm your blockchain address details
  • Whitelist your blockchain address with two-factor authentication

For more info, please refer to this guide: Link & Whitelist Personal (Non-custodial) Blockchain Address

Step 3: Go to “Mint” tab to set up your Mint account

  • Complete your first transfer.
  • Select a bank virtual account to transfer IDR from
  • Select the blockchain network you want to mint XIDR to

Please Note: Make sure that your selected blockchain network is matched to the network being used by your blockchain address. In Coinut, we support ERC-20 XIDR only at this time.

Step 4: Authenticate your transaction

For more info, please refer to this guide: Mint XIDR Directly From Bank Account

B. Top up your Coinut XIDR Wallet through direct bank transfer

Please note: This step is only for those who have already set up their account with StraitsX Mint Feature.

Deposits are FREE until further notice. Users can enjoy free bank transfers and free blockchain transfers to their Coinut addresses.

Step 1: Login to your bank account

Step 2: Make a bank transfer by following the on-screen instructions

Congratulations! The funds you transfer to StraitsX Mint Account will be reflected directly on your Coinut wallet address or blockchain address.

C. Withdraw XIDR from Coinut wallet to your bank

Step 1: Withdraw XIDR from your Coinut wallet address to your StraitsX Personal Account

  • Go to "Wallet"
  • Under “Balance”, select XIDR and fill-up the form.
    • Please Note: Triple check the wallet address where you want to put your XIDR as well as the brand protocol (ERC-20). Cryptocurrency transactions are IRREVERSIBLE!
  • Check your pending and completed transactions on “Transaction History”

Please refer to the following guide on withdrawing cryptocurrencies from Coinut: Deposit/Withdraw Cryptocurrency

Please note: Coinut offers one of the lowest fees on cryptocurrency transactions. You can refer to this link for the respective fees on your XIDR crypto withdrawals: What Are The Fees?

Step 2: Once your XIDR cryptocurrency balance has already been reflected in your StraitsX Personal Account, you can then convert your XIDR into IDR and withdraw it to your respective Indonesian Bank Account.

Please note: Withdrawing IDR from StraitsX to your bank account is for FREE until further notice.

IMPORTANT NOTE: 📢 is a financial entity regulated in Canada and an exempt entity under the Payment Services Act in Singapore. Please be reminded that cryptocurrency trading is highly risky and is not suitable for the general public. For more info, please visit Our Disclosure Statement.