Headquartered in Singapore, Malaysia, with operational offices in India, Indonesia, Hong Kong, China and Dubai, Belfrics Global has launched its Bitcoin Exchange in Kenya to allow traders and Bitcoin users to trade more efficiently and at a much lower cost. The cost of transactions while using Belfrics will be only 5 percent.
Belfrics will join BitPesa and BitSoko, the two Nairobi-based bitcoin exchanges.
According to the company CEO and Chairman, Praveenkumar Vijayakumar, the company has received very positive support in the last couple months it has been testing its services in Kenya. This has necessitated its official launch to further expand its growth in the country and the region.
Praveenkumar, Belfrics intends to reach and offer its services to between 100, 000 to 1, 000, 000 people in the next one to one and half years.
Belfrics Global is also offering its initial coin offering (ICO) as an investment vehicle. The launch will be on September 8th, 2017 when it launches the Belfrics Blockchain. Unlike other cryptocurrency coins, which are difficult to identify users, Belfrics Blockchain will allow users to be identified, thereby enabling the tracking of transactions on the platform.
Blockchain offers a big opportunity for money transfer services by bringing the costs down to only a fraction of the current costs. Belfrics Global intends to leverage this huge gap in the coming months. The company also intends to expand its operations to Nigeria and Ghana.
With a GDP of $69.97 billion, Kenya is the 72nd largest economy in the world and Eastern and Central Africa’s hub for financial services with an increased interest in the cryptocurrency. This is seen from the volume of trading which has seen a substantial increase in 2016, compared to the slow growth in trading volumes seen from 2013 to 2015.
There are currently only three bitcoin exchanges in Kenya. To cater to the growing demand for bitcoin trading, Belfrics has launched its services in Kenya.
With the increasing awareness and acceptance of bitcoins, its value has been reaching new heights. Belfrics aims to be at the forefront of this growing industry. A unified currency for the world that brings transparency and efficiency to the financial system is what Belfrics is working towards.
Belfrics provides a bitcoin wallet that meets the highest standards of security. Equipped with automatic deep freeze technology and two factor authentication process, you can be assured that your funds are safe at all times. Apart from a secure wallet, Befrics also provides a POS system and payment gateway for merchants to accept bitcoins as payment, enhancing their scope of business.
As a part of the inaugural offer, Belfrics is giving free bitcoins (10,000 Satoshis) for signing up. Make a profitable choice and trade with Belfrics.