In recent years, the internet has begun to shift focus to decentralised technologies and move towards an ecosystem that empowers end users by emphasising privacy, security and censorship resistance. This shift is good news for individuals, as long as they make good choices surrounding which decentralised platforms to invest in and embrace.
One of the newest and most promising currency exchanges to enter the market is the Blockforia platform. This exchange, established in 2022, claims to provide all the traditional advantages that decentralised exchanges offer relating to security and control, while still placing heavy emphasis on regulatory compliance.
This article aims to analyse the platform and provide a Blockforia review that examines the varied service offering of the decentralised service. To find out whether Blockforia is poised to be a leader in this rapidly growing market, let’s explore its background, features, customer support system and innovative approach to compliance and regulation.
About Blockforia
According to Blockforia’s website, the EU-regulated cryptocurrency exchange is based in Bulgaria and the platform’s primary aim is to empower individuals across the globe to get involved with what they call the decentralised financial revolution. Established in 2022, Blockforia’s international team is said to include expert auditors, lawyers and Bitcoin technologists all working together to ensure comprehensive regulatory compliance.
Due to older decentralised exchanges generally negative reputations for being unsafe for investors as many sites are known for being poorly regulated, Blockforia is outspoken about the ways in which its service includes strict enforcement of procedures and routines relating to Know Your Customer (KYC), Anti Money Laundering (AML) and Counter-Terrorism Financing (CTF) measures.
Products and services on offer
Aside from Blockforia’s clearly apparent dedication to compliance, the platform itself offers a variety of well designed features to ensure a seamless and simple experience for users. When signing up to use the platform, users are greeted with a minimal, user-friendly interface that allows for straightforward navigation while exploring the services on offer.
Unlike many other less reputable exchanges, individuals are currently able to buy and sell Bitcoins exclusively with a free wallet. The platform also displays real-time market data and includes a handy calculator on the site to help users convert their fiat to crypto. All personal and financial data provided to the site is encrypted to protect users and Blockforia claims that their products are built with convenience and security in mind.
Customer support
Novice users who may be new to the concepts surrounding decentralised exchanges can find the assistance they need through a dedicated and friendly customer support team. The site also allows users to read through an impressively comprehensive FAQ section to have a wide range of common questions answered. Blockforia appears to have a deep understanding for its users’ concerns and this dedication to support allows individuals to receive assistance through a hassle-free experience.
User interface and experience
To get started on the platform, the process is refreshingly simple and the experience can be described by reviewers as positive. All a person needs to do is create an account using the sign-up button on the site and follow a straightforward registration process. Along the registration journey, users are helped through every step and reminded to provide accurate information to ensure ongoing account security.
After an account is verified and the registration process is complete, a user will receive their Blockforia Bitcoin wallet and may choose from a convenient variety of payment methods to start purchasing Bitcoins. The entire process of buying takes just minutes and the platform delivers on its promise of offering an easy-to-navigate trading experience.
Security and trust
When it comes to security and trust, Blockforia aims to stand out from its online competition. They do this by embedding high levels of security into the very core of the platform and employing a wide variety of robust security measures like modern encryption protocols, cold storage solutions and multi-factor authentication. These measures ensure asset protection and allow users on the platform to feel secure from cyber threats.
Blockforia also claims to conduct regular security audits to mitigate and identify a number of vulnerabilities. The exchange platform is transparent about its compliance with relevant financial regulations and proves their dedication to providing a trustworthy service by offering a comprehensive range of security measures.
Regulation and compliance
While Blockforia’s general service offering can be compared to any number of other decentralised exchanges currently available to the public, it’s commitment to AML compliance is one of it’s truly defining features. By placing the trust of its users first with advanced Kyros AML Compliance Software that ensures positive client ID verification and advanced transaction monitoring, the service can meet exacting regulatory standards and provide a fully secure trading environment.
