UI Study Finds Most Crypto Investors Earn Under Rp 8 Million a Month

JAKARTA, Investortrust.id — A study by the Lembaga Penyelidikan Ekonomi dan Masyarakat Fakultas Ekonomi dan Bisnis Universitas Indonesia shows that most crypto investors in Indonesia earn less than Rp 8 million per month, highlighting how digital assets are being driven largely by young, financially constrained groups on Tuesday, Jan 20, 2026 in Jakarta as crypto adoption continues to surge nationwide.

The findings came from a survey of 1,225 respondents, of whom 1,093 reported monthly income below Rp 8 million, while only 132 earned above that threshold.

The study found that most crypto investors were under the age of 35 and largely high school graduates, underscoring that adoption is concentrated among early career individuals with relatively limited financial buffers.

Researchers said the trend reflected a generational shift toward digital investment instruments, even as the underlying risk profile remained high for investors with modest income.

Official data from the Otoritas Jasa Keuangan showed that total crypto transaction value in Indonesia reached Rp 482.23 trillion, equal to $29.6 billion, throughout 2025.

The number of crypto investors rose steadily, reaching 19.56 million by November 2025, up from 19.08 million in October.

In its report titled Contribution of Crypto to Indonesia’s Economy, LPEM FEB UI said crypto had become a major phenomenon in the domestic financial system, with Indonesia consistently ranking among the world’s top 10 fastest adopters of digital assets.

The researchers noted that crypto’s role had shifted from a traded commodity to a digital financial asset following regulatory changes under Financial Services Authority Regulation No. 27 of 2024.

“However, this transition also increases risk if it is not accompanied by healthy market practices,” the research team wrote in its statement.

The study found social media to be the most influential source of information shaping investor perception and trust, with platforms such as Twitter, Telegram, and Discord accounting for 57.89 percent of strong influence.

Crypto influencers and YouTubers followed with a 30.77 percent influence share, reinforcing concerns over herd behavior and speculative decision making.

Most investors traded actively on licensed platforms, averaging around 60 transactions per year with a total value of Rp 55 million, equal to $3,400.

By contrast, users of illegal platforms traded less frequently but recorded higher annual transaction values and capital gains, averaging Rp 88.7 million per year.

LPEM FEB UI estimated that potential tax revenue losses from illegal crypto trading could reach between Rp 1.1 trillion and Rp 1.7 trillion, assuming a 0.21 percent tax rate on sales transactions.

“The loss of unrecorded transactions reflects a significant opportunity cost for the state and weakens the legal crypto ecosystem,” the researchers wrote.

The study concluded that crypto assets could play an important role in expanding financial inclusion by providing digital investment access to low capital communities.

However, the researchers warned that weak oversight of illegal platforms, low digital literacy, slow asset listing processes, and complex inter agency coordination could turn inclusion benefits into systemic risks.

They said stronger regulation, tighter supervision of promotions, improved data protection, and accelerated financial literacy programs were critical to building a healthier and more responsible crypto ecosystem.