The Bulgarian cryptocurrency exchange is announcing the go-live of Blockforia.com on the eve of 2022. The company will first begin accepting customers in selected EU jurisdictions, while further expansion is expected to continue in 2023. Whilst expanding its global reach, the company itself and its day-to-day operations will continue to be domiciled in Bulgaria.
Blockforia is looking to apply its KYC and AML procedures to all new customers. The main markets are set to be the EU, Canada and certain parts of Asia. The Blockforia crypto exchange supports all major credit and debit cards, whilst crypto wallets are provided free of charge.
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Due to its use of official e-ID solutions for KYC, users from supported jurisdictions can set up accounts in under five minutes. Afterwards, they can start trading Bitcoin immediately. Crypto funds are held in safeguarded hot and cold wallets, on a strict 1-to-1 basis.
Bitcoin has been in the limelight for over a decade now, rapidly expanding its scope of applications, and continuously rising in value. On Jan. 8, 2021, Bitcoin hit a new milestone by surpassing $42,000 in value. However, markets soon crashed and Bitcoin is now trading at around $17,000.
Only time will tell where markets move next, but the inherent volatility of Bitcoin can prove profitable for exchanges like Blockforia.com, which earns the majority of its money on frenzy trading.
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