Crypto Is Not Passive Investing: Why nabung.id Doesn't Cover It

Why cryptocurrency isn't passive investing and why nabung.id doesn't recommend crypto as a core asset in long-term portfolios.

Published: February 19, 2026 • Last reviewed: February 19, 2026

Note: This article discusses Indonesian financial products and markets. The principles apply globally, though specific products, regulations, and tax treatments vary by country.

“Hey, why doesn’t nabung.id cover Bitcoin? It’s up 300%!”

“My friend made Rp 50 million from crypto in 3 months. Why isn’t there a guide on buying Ethereum?”

“Is nabung.id behind the times? How can modern investing not cover crypto?”

We often get these questions. And the answer is simple: cryptocurrency is not passive investing.

There’s no guide on “how to buy Bitcoin”, no analysis of “is Ethereum good for investing”, no crypto price predictions.

This isn’t by accident. This is a philosophical decision we made consciously.

This article explains why.

What Is Passive Investing?

Before discussing crypto, let’s first define what we mean by passive investing.

Passive investing is a long-term investment strategy that focuses on:

1. Productive Assets That Generate Cash Flow

Assets that inherently generate value without you having to sell them.

Examples:

Stocks: Companies generate profits, a portion of which is distributed as dividends
Bonds/SBN (Government Retail Bonds): Provide periodic interest (coupons)
Real estate: Generates rental income
Mutual funds: A combination of the above productive assets

2. Buy and Hold for the Long Term

You buy and hold for years, not constantly monitoring prices or buying and selling.

3. Measured Risk with Reasonable Returns

Realistic returns (7-12% per year for stocks, 5-7% for bonds), not promises of “10x in a year”.

4. No Timing or Special Skills Required

A strategy that can be executed by novice investors without needing technical analysis, deep fundamental analysis, or “insider knowledge”.

In essence: Passive investing is about letting time and compound interest work, not about guessing market direction.

Why Crypto Is Not Passive Investing

Now let’s evaluate cryptocurrency based on the criteria above.

1. Crypto Does Not Generate Cash Flow

Bitcoin doesn’t pay dividends. Ethereum doesn’t provide interest. There are no coupons, no profit distributions.

The only way you make money from crypto: Sell it to someone else at a higher price than when you bought it.

This is called a zero-sum game. For you to profit, there must be someone else who buys at a higher price. If everyone sells at the same time, the price collapses—and there’s no “intrinsic value” to support it.

Compare this to stocks:

A good company (for example PT Unilever) produces products, sells them, earns profits
That profit is real—distributed as dividends or reinvested for growth
Stock value ultimately reflects the company’s ability to generate money

Bitcoin? It doesn’t produce anything. Bitcoin only has value because other people believe it will have value.

2. Crypto = Speculation, Not Investment

Because crypto doesn’t generate cash flow, its value depends entirely on the greater fool theory: You buy hoping there’s someone else (a “greater fool”) who will buy at a higher price.

This isn’t investment—this is speculation.

Definition of investment according to Benjamin Graham (Warren Buffett’s mentor):

“An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return. Operations not meeting these requirements are speculative.”

Crypto doesn’t promise safety of principal (extreme volatility) and doesn’t provide returns (unless you sell).

3. Crypto Requires Active Monitoring

“Buy Bitcoin and hold 10 years!” is often cited as a passive strategy.

But the reality:

Extreme volatility: Bitcoin has dropped 80% in a single year (2018, 2022). Can you truly hold without panicking?
Regulatory risk: Governments can suddenly ban crypto (like China in 2021). You need to be ready to respond quickly.
Technological risk: Hard forks, blockchain bugs, 51% attacks, wallet hacks—all of this requires technical knowledge and monitoring
Custodial risk: “Not your keys, not your coins” — You need to learn self-custody, cold wallets, security keys

This is not passive. This requires significant effort, knowledge, and vigilance.

Compare this to stock mutual funds:

Buy, hold for 10-20 years
No need to worry about wallet hacks or hard forks
Regulated by OJK (Otoritas Jasa Keuangan — Indonesia Financial Services Authority), transparent, with a prospectus

4. Crypto Returns Are Not Sustainable

Bitcoin rose 1000% in 5 years (2015-2020). Extraordinary!

But can this continue? If Bitcoin rises another 1000%, its market cap would exceed the GDP of the entire world. Mathematically impossible.

Early adopters (who bought in 2010-2015) received astronomical gains because they took very high risk when Bitcoin was still an experiment. People buying now (2026) will not get the same returns, because the market size is already large.

Stocks are different: Good companies can grow for decades because they create real value (products, services, innovation). Amazon rose 1000x in 20 years because their e-commerce business grew. Bitcoin rose because… more people believed.

5. Crypto Doesn’t Solve Retail Investor Problems

The question you should ask: “What problem do I want to solve with investing?”

For most Indonesians:

Saving for an emergency fund
Saving for a house down payment
Saving for children’s education
Saving for retirement

Is Bitcoin the best solution for these? Clearly not.

Bitcoin’s volatility is too high for short-term goals (emergency fund, house down payment). And for long-term goals (education, retirement), stock mutual funds provide more predictable returns with more measured risk.

This Doesn’t Mean Crypto Is “Bad”

Important: This article is not saying cryptocurrency is a scam or useless.

Blockchain as a technology has potential. Decentralized finance (DeFi), smart contracts, NFTs—these are all interesting experiments.

But this is not passive investing. This is speculative technology suitable for:

People who deeply understand blockchain technology
Risk-takers who are prepared to lose their entire investment
Those who want a small speculative diversification (for example <5% of portfolio)

Crypto is not for:

Beginner investors looking for “get rich quick”
People who don’t have an emergency fund or still have consumer debt
Core portfolios for long-term goals (education, retirement)

If You Still Want to Invest in Crypto

We can’t stop you. But if you still want to, follow these rules:

1. Maximum 5% of Total Portfolio

Crypto is high-risk speculation, not a core investment. Treat it like gambling money—money you can afford to lose 100%.

2. Make Sure You Already Have a Foundation

Checklist before buying crypto:

Emergency fund of 6-12 months already accumulated (in deposits/money market)
Consumer debt (credit cards, online loans) already paid off
Life and health insurance already in place
Core portfolio (mutual funds/SBN) already running
You’ve read the Bitcoin whitepaper and truly understand the technology (not just following hype)

Read: Emergency Fund First, Investing Later

3. Don’t FOMO

Don’t buy crypto because:

Your friend made 300%
An influencer promoted “Bitcoin to the moon!”
You’re afraid of “missing the train”

Hype is the enemy of rational investing. Many people lost big because they bought at peak euphoria (2017, 2021).

4. Use Legal and Safe Platforms

If buying crypto, make sure:

The platform is registered with Bappebti (Badan Pengawas Perdagangan Berjangka Komoditi — Indonesia Commodity Futures Trading Regulatory Agency)
Official list: https://bappebti.go.id/pedagang_aset_kripto
Examples of legal platforms: Indodax, Tokocrypto, Pintu, Rekeningku

Don’t buy from:

Foreign platforms not registered in Indonesia (legal, tax, and money laundering risks)
Ponzi schemes disguised as crypto (“guaranteed return 10% per month!”)

Read: How to Check If an Investment Platform Is Legal

5. Understand the Risks and Taxes

Crypto taxes in Indonesia (as of 2026):

PPh Final (Final Income Tax) 0.1% of transaction value (buy/sell)
PPN (Pajak Pertambahan Nilai — Value Added Tax) 0.11%
Capital gains (if profitable) are included as other income in SPT (Surat Pemberitahuan — Annual Tax Return)

Read: NPWP for Investing

Conclusion: nabung.id Stays Focused on Productive Assets

Why doesn’t nabung.id cover crypto?

Because our mission is to teach passive investing that is sustainable, measured, and accessible for ordinary Indonesian investors.

Crypto doesn’t meet those criteria. Crypto is:

Speculative (not productive investment)
High-risk (extreme volatility)
Requires technical expertise (not passive)
Not sustainable for long-term returns

We believe:

Index stock mutual funds are the best way to accumulate long-term wealth
SBN (Government Retail Bonds) are the right choice for fixed income and diversification
A combination of both, adjusted to your asset allocation, is sufficient to achieve the financial goals of 90% of Indonesians

You don’t need crypto to get rich. You need discipline, time, and a boring but effective investment strategy.

If after reading this article you’re still interested in crypto, that’s your right. But do it with open eyes, not because of FOMO or promises of quick riches.

nabung.id will remain focused on productive assets that provide long-term passive income. That’s our commitment.

To understand the fundamental difference between trading/speculation and passive investing, read: Why Traders Lose Money.

References

Graham, B., & Zweig, J. (2006). The Intelligent Investor (Revised Edition). New York: HarperCollins.
Otoritas Jasa Keuangan (Indonesia Financial Services Authority). Official OJK statement on crypto assets. ojk.go.id
Badan Pengawas Perdagangan Berjangka Komoditi (Bappebti — Indonesia Commodity Futures Trading Regulatory Agency). List of Physical Crypto Asset Traders. bappebti.go.id
Peraturan Menteri Keuangan (Minister of Finance Regulation) Number 68/PMK.03/2022 on PPN and PPh for Crypto Asset Trading Transactions.
Nakamoto, S. (2008). Bitcoin: A Peer-to-Peer Electronic Cash System.
Taleb, N. N. (2021). Bitcoin, Currencies, and Fragility. arXiv:2106.14204.

Disclaimer: This article is for educational purposes only and does not constitute investment advice. Always do your own research and consult with a licensed financial advisor before making investment decisions.