Beldex, an Estonia based Shariah-Compliant exchange will be going live on Dec 27th, 2019 at 13.30 hrs EET. The Exchange bears the privacy coin, the Beldex Coin (BDX) as the in-house token. By the mandate of Shariah law, Beldex doesn’t participate in the following activities:
Maysir - Maysir refers to Gambling. Any direct or indirect gambling of assets is prohibited.
Riba - Riba refers to usury or collection of interests. Beldex introduces a safe haven for Islamic traders by lending on collateral without interest.
Gharar - Gharar is the uncertainty associated with a financial transaction. Beldex eliminates Gharar from its activities.
Haraam Goods - Beldex does not deal with alcohol, tobacco, pork and other goods that are embargoed in Islam.
Haraam Services - Beldex has stringent AML and CFT policies in place to prevent and curb unlawful activities.
Ponzi Schemes - Beldex does not deal with any kind of financial pyramids.
Beldex has adopted a hybrid model crypto exchange. It has filtered out and conjoined the positives that both CEX and DEX has to offer. The Beldex hybrid exchange effectively maximizes user control while only centralizing limited aspects of the exchange for enhancing liquidity, latency, interoperability, and ease of use.
Registrations to the Sharia-Compliant exchange were opened on Oct 23, 2019, at the World Blockchain Summit, Dubai. Since then, Beldex has gained recognition from crypto communities all over the world. In just 2 month’s time, registrations to the exchange have crossed more than 100,000! The Beldex community which is now over 100,000 strong, keeps growing by the day.
Beldex has a stalwart and thriving community. Its community is spread across a number of social media platforms. It has staunch followers of about 30,000 members to its social media.
Facebook - 25 K
Telegram - 2.4 K
Twitter - 1.4 K
Instagram - 878
Beldex is featured in leading news agencies including Yahoo! Finance. Other credible media recognitions include Islamic Finance News, Blockmanity, Markets Insider, Bitcoinnews.com, etc.
A majority of its users constitute the South East Asian countries such as Indonesia, Thailand, Vietnam, and Malaysia. Beldex also has a considerable user base from Europe, Africa, the Middle East, Australia and even South America, spreading its wings to over 160+ countries. Beldex plans to acquire more users from North American countries like Canada and Mexico.
The Beldex coin was created with the sole intention of anonymizing user transactions. Additionally, the Beldex exchange will provide a utility purpose to the coin, increasing its adoption. It is also the first step and a strategic move toward the organization’s goal of creating an ecosystem that prioritizes privacy, to improve its users’ financial privacy. With its inception dating back to 2018, Beldex states that it has overcome many strifes and hurdles but attributes its success to its community.
Deposits and withdrawals are enabled on the exchange. Users can deposit or withdraw any of the supported coins which include BTC, ETH, LTC, USDT, XMR, DASH, and BDX. Trading on the Beldex Cryptocurrency Exchange will GO LIVE tomorrow, 27 Dec 2019 at 13:30 EET. The Beldex Exchange will initially support the best and most liquid trading pairs.