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Belgacoin Review - is it scam or safe?

Belgacoin - is belgacoin.com scam or good cryptocurrency exchange?

RATING: 2.2 / 1 REVIEWS ForexBrokerz Belgacoin

RECOMMENDED BITCOIN BROKERS


Trading accounts and conditions

 

Account type Leverage Fees
Standard 1:1

1-2%

 

Belgacoin is a Belgian cryptocurrency exchange, as the name suggests, whose services are available throughout Europe. Clients can buy and sell Bitcoin, Ether, Ripple, Bitcoin Cash, Litecoin and Dogecoin for EUR.

 

Belgacoin advantages

 

- Acceptable Fees. The Belgacoin fees vary between 1 and 2%, plus network fees. Those costs are in the average for the smaller exchanges, although there are some who charge somewhat less.

 

- Lots of Coins. Belgacoin has a nice selection of the cryptocurrencies with the largest market cap.

 

- Fiat deposits in many currencies. Although the trading fiat currency is EUR, Belgacoin accepts deposits in the other European currencies, USD, INR, JPY, ILS, IDR and KRW.

 

- Ransom assistance. Belgacoin offers a service called CryptoLocker Assistance to those who have fallen victim to the ransomware viruses that encrypt the files on the hard drive and demand ransom, usually in Bitcoins or another cryptocurrency, to decrypt them. One such virus it the WannaCry that attacked thousands of computers across the world in 2017.

So Belgacoin, for a fee of EUR 50 + the ransom, offers to pay the sum on behalf of the victim within 1 working day, provide an invoice and proof that the ransom has been paid.

The service is only available to companies, and the client is required to file a complaint with the police. The clients should also provide name and phone number, the name of your company and the company number, a copy of the virus screen and a copy of the complaint they have filed with the police. This service does not guarantee the recovery of encrypted data and reimbursement is not possible.

 

- Simplicity. The buy and sell process on Belgacoin is quite simple. One must enter the sum they are willing to spend or get, what coin they wish to buy or sell, enter their e-mail, choose the method of payment and delivery.

 

Belgacoin disadvantages

 

- Limited payment options. Belgacoin only accepts bank transfers (SEPA and international bank wire). No cash, no credit cards and no PayPal. This is a fairly standard practice among cryptocurrency exchanges, yet somewhat inconvenient, as it can be slower than the instant payments of credit cards and PayPal, even for a higher fee.

 

>> See crypto exchanges accepting credit cards <<

 

- No Anonymity. Belgacoin, similarly to most cryptocurrency exchanges that offer trading of cryptos for fiat currencies, does not allow anonymous trading and requires client verification for those who wish to trade between 1000 and 2500 EUR weekly. They need to provide phone, e-mail and a copy of their ID. Those who wish to remain anonymous, can trade no less than EUR 25 and no more than EUR 250, just once per week.

 

- No leverage. Due to the nature of its service, Belgacoin does not offer leveraged trading on cryptocurrencies, similarly to most crypto exchanges. Investors who want to just speculate on the price of cryptocurrencies, rather than buy or sell cryptocurrencies, should better sign up with a regulated forex broker that offers leveraged trading on CFDs with cryptocurrencies as an underlying asset.

 

 >> See our list of regulated bitcoin forex brokers <<

 

- Buy and sell limits. Belgacoin has set buy and sell limits, based on age of the account and the level of user verification. The first trade is limited to the max equivalent of EUR 25. The second anonymous trade (e-mail only), can be up to EUR 250. For higher weekly volume (up to EUR 2500 and three orders per week), the client needs to provide an ID.

 

Conclusion

 

Belgacoin offers a good selection of the most popular cryptocurrencies, that can be bought and sold in a fairly easy manner, for EUR. This is a service offered by most exchanges, but we particularly like the ransomware service that does not require the clients to have knowledge of trading in cryptocurrencies, e-wallets, etc., but can simply pay a fee and send the sum for the price of the ransom. The rest will be taken care of by Belgacoin.

 

 

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Traders` reviews for Belgacoin

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