Belfrics Global is a Kuala Lumpur-based startup company that offers an exchange, a wallet, and a payment platform, among other services. Here’s our Belfrics review.
What is Belfrics?
Belfrics Global is a Malaysian cryptocurrency company founded in 2014. The company offers a wide range of products and services to the cryptocurrency industry, including a wallet, a trading platform, a payment gateway, and more.
Belfrics has been in headlines this past week for announcing a new initiative: the company plans to launch bitcoin exchanges across the continent of Africa over the coming months. The news was announced by company CEO Praveen Kumar at the launch of Belfrics’ Bitcoin Exchange in Kenya this past week.
Over the coming months, Belfrics plans to open exchanges in Nigeria, Ghana, and Botswana, then continue with other countries. The decision was announced after the successful launch of Belfrics’ Kenyan exchange.
Kenya already has a major bitcoin exchange called BitPesa. BitPesa charges a fee of 3%, while Belfrics charges a fee of 5%. However, there’s one major difference: Belfrics allows users to purchase bitcoin in any amount, while BitPesa forces users to purchase a minimum of $700 in BTC. Obviously, that puts a BTC purchase beyond the reach of the average local, which is why Belfrics sees an opportunity.
In addition to Kenya, Belfrics is available in Singapore, Malaysia, UAE, China, Indonesia, and India.
Belfrics Products and Services
As mentioned above, Belfrics is more than just an exchange. The company offers a range of products and services to the bitcoin community, including all of the following:
The Belfrics’ exchange promises to offer secure, highly-liquid trading through an easy UI. The company offers mobile apps and a desktop trading platform. In terms of fees, you can expect to pay a 0.5% fee on traded volume with each transaction – which is about average for a fee. Deposits and withdrawals, however, are free.
Today, the Belfrics exchange is available in a growing number of countries – including several countries that aren’t traditionally served by exchanges. Available countries include Malaysia, Singapore, China, Indonesia, and India. Belfrics also specifically lists the cities of Dubai and Hong Kong. And, in summer 2017, the company added Kenya to its list of available countries.
The Belfrics Wallet promises to offer bulletproof security for your cryptocurrencies. Key features include two factor authentication, deep freeze security, multi-signature support, and other security features you expect to see in a wallet.
Belfrics offers two core merchant services, including a customized point of sales (POS) system as well as a payment gateway. The POS system allows for a merchant to seamlessly accept bitcoin. It’s an end-to-end POS solution with back office and reporting features. It can also be customized to meet the needs of any merchant.
Meanwhile, the Belfrics payment gateway is a platform that allows you to use your mobile phone as a bitcoin debit card. Using the Belfrics payment gateway, you can pay at any location and trade with bitcoins instantly, in a hassle-free way.
Belfrics was founded in Kuala Lumpur, Malaysia in 2014. The company claims that its founders “carry a huge wealth of knowledge and experience of online futures and foreign exchange trading in global markets.”
In recent weeks, Belfrics has sought expansion into under-served markets. The company recently launched its exchange in Kenya, for example, and plans to expand to four other African nations over the coming months. Like other cryptocurrency exchanges, Belfrics sees the potential to serve people who may not be able to access traditional banking systems.
Belfrics is a Malaysian bitcoin company that offers four distinct services, including a merchant payment platform, a mobile-based debit card, a cryptocurrency exchange, and a wallet.
You can learn more about Kuala Lumpur’s Belfrics today by visiting the company online at Belfrics.com.