Indonesian Celebrities Enter the Crypto Market

Currently, Indonesia is entering the Celebrity Crypto phase, which has happened in several countries before. Usually, this phase takes place when cryptocurrency is recognized as an investment instrument in a country.

Many celebrities in Indonesia are currently making Cryptocurrency projects; some of them appear suddenly with immature projects and seem to only take advantage of the masses they have through social media.

Of course, if something new is familiar, it will get the spotlight from the big media in Indonesia. This has triggered the introduction of Cryptocurrency digital currencies.

Is this a good thing as an introduction to cryptocurrencies for the people of Indonesia?

If we look back, many cases of fraudulent investments have befallen the Indonesian people, and not a few have suffered losses of up to billions of rupiahs.

As reported in Liputan 6 and informed by OJK (Financial Service Authority), false investments suffered a loss of RP.117.4 Trillion ($8 Million) throughout 2021-2022. This number shows that the investment habit of the people in Indonesia is quite alarming.

Among the celebrities who created the cryptocurrency project, they also seemed to promise the price of their currency would reach a specific price, which triggered ordinary people who knew them from social media to buy the coin. When the price did not match their expectations, they felt cheated.

Investing in cryptocurrencies is undoubtedly not just buying the currency you want and then leaving it; many risks could happen because cryptocurrency is a decentralized currency.

The risks that exist and are not known beforehand make investments made unhealthy and trigger losses due to ignorance. I write cryptocurrency articles on my blog for cryptocurrency literacy media in Indonesian.

Whether this will trigger cryptocurrency investment literacy or even worsen, I don't know myself because this is still the beginning for cryptocurrencies in Indonesia.