The early years of Bitcoin boom took developed economies (Europe and the United States of America) by a storm. While the rest of the world had little or no knowledge about cryptocurrencies, a lot of investors from these economies helped the market grow through research publications, technology innovations and initial coin offerings (ICOs). By 2013, the scenario started changing as Western interest about Bitcoins was almost hitting the saturation and the vast unexplored Asian and African market started developing interest about Bitcoin and other forms of cryptocurrency.
Bitcoin Skyrocketing In Asia
Today, among the fastest growing Bitcoin markets across the globe, there are four Asian countries, namely, Japan, South Korea, Malaysia, and Indonesia.
The research data indicates that cost-effective and faster money transfer is the key reason, triggering the growth of Bitcoin exchange platforms in Asian countries. The traditional money transfer systems, such as Western Union and MoneyGram are slowly falling behind in the competition against emerging Bitcoin exchange platforms. Moreover, Japan’s formal recognition of cryptocurrency has also contributed to the skyrocketing growth of Bitcoin exchange platforms in Asian market.
Africa Opening Newer Possibilities
While none of the African countries has yet been featured in the list of the fastest growing Bitcoin markets, experts are of opinion that the high money transfer processing fee that traditional banking system imposes on customers while transferring money to Africa, would be instrumental in driving high demand for Bitcoin exchange platforms. Findings indicate that every year traditional banking system earns around US $4 billion from international monetary transfer to Africa. Banks operating within Africa also charge their customers anything between 10 to 19 percent of transaction fee on the amount of fund being transferred within the country. Bitcoin exchange platforms would disrupt such bureaucratic processes and enable citizens of African countries with absolute control over wealth management.
How Belfrics Securing Top Position in the Competitive Environment:
Belfrics is not only aware about these changes within Asian and African demographies but also designed its service offerings and solutions in a fashion that would perfectly comply with transforming demands. The Belfrics Bitcoin exchange platform functions as a turnkey solution to Bitcoin users in both Africa and Asia. Inspired by the vision to simplify the process of financial transactions and customers’ usage of financial services, the company offers its customers in Asia and Africa the following features within a single ecosystem:
- A comprehensive domain that simplifies Bitcoin transactions (both buying and selling)
- State-of-the-art and highly secure Point-of-Sale (POS) solutions to retail merchants, who aspire to move beyond traditional currency system and adopt Bitcoin for in-store purchasing purposes
- Highly secure Bitcoin web payment gateway with end-to-end encryption, which guarantees safe transactions from a global customer base
- No contact mobile debit card, which allows users to use their smartphones as preferred mode of payment at merchant stores that support Bitcoin payment, across the globe
Additionally, unlike many other Bitcoin exchange platforms already in operation, Belfrics guarantees its users an extremely convenient and seamless process to commence Bitcoin trading. In order to start trading through Belfrics, a trader requires completing the following steps:
- Free registration and creation of a Bitcoin wallet, which goes live within seconds
- Deposit fund to the wallet through bank transfer, cash deposition or any other payment mode
- Adding a legitimate bank account to the Bitcoin wallet for payment receiving purpose
Once these steps are complete, a trader can start Bitcoin trading immediately. The company also provides intuitive support in terms of keeping its users updated about price fluctuations and ongoing Bitcoin trading rate in real time.
A robust ecosystem, technologically superior transaction experience and in-depth understanding of customers’ requirement in Africa and Asian countries are the key factors that position Belfrics as one of the fastest growing Bitcoin exchange platforms.