By Luke - Bitcoin Professional - 01/12/2021
In a recent study on Spanish citizens investing in cryptocurrency, it was revealed that 11% of Spaniards are in fact purchasing digital and crypto assets. Interestingly, the majority of Spaniards actually lack the knowledge and risks that comes with investing in volatile products. In fact, a large percentage of the population believe that cryptocurrency is regulated and controlled. Despite the lack of information, cryptocurrency continues to grow in popularity in Spain. It's important to note that while you may have a better chance at making a lot more money faster and potentially easier than you would in other types of investments due to cryptocurrency’s volatility, you may equally a lot of your money.
Within the research, it stated that around 4.4 million Spaniards, or 11% of the population, have been regularly purchasing cryptocurrency. With 7 out of 10 of the 4.4 million are entirely unaware of the potential risks with the research stating that there is widespread ignorance on the marker regulation. Within the study, reportedly, many citizens are unsure if cryptocurrency should be taxed or not. The main reason why Spaniards are quickly adopting cryptocurrency without the risk information is due to the global investment trend. Crypto assets have been growing in popularity all over the world with many success stories of people becoming rich practically overnight. In the next stage of statistic in the study, reportedly 59% have made a profit from crypto assets with 28% seeing losses.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.
2. **Continued Operation Outside the UK:**Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.
3. **Withdrawal of Assets:**For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.
4. **Conversion of Assets:**To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing firstname.lastname@example.org from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.
5. **Withdrawal Procedure:**To initiate a withdrawal, please email your request to email@example.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at firstname.lastname@example.org Kind Regards