Bitcoin Exceeds One Million Daily Active Addresses
By Mark Lemon – Cryptocurrency Professional
On June 14th, according to CoinMetrics, a blockchain statistics website, Bitcoin officially surpassed one million daily active addresses in which these users access their wallet daily to buy and sell Bitcoin.
On June 15th, Kevin Rooke, a Twitter user pointed out the present number of daily active on-chain addresses, which resulted in mixed reactions from the audience. One Twitter user mentioned that there is a difference between using it and trading it with either buying or selling Bitcoin.
Another user-contributed these numbers of on-chain transactions to mixers, but didn't consider the fact that even if an increase in mixer use were responsible for the escalating active address numbers, it would still indicate that people are using Bitcoin. Some users claim that the crypto giant is only warming the seat for Libra, Facebook's cryptocurrency and blockchain:
“We are just getting the seat warm for Libra.”
Others claimed that Bitcoin's adoption is getting weaker as Cointelegraph reported last August:
“Yeah, it's getting used so much that merchant adoption is...decreasing.”
As JPMorgan Chase told Cointelegraph earlier, he believes the Bitcoin industry has changed significantly ever since 2017, likely due to an increase in the high volume and institutional interest of Bitcoin future transactions. More and more institutions have looked to get involved with buying and selling crypto which further legitimises the industry.
Coinbase Custody's (a cryptocurrency custody firm focusing on institutions) official Twitter account revealed that it has $1.3 billion in Assets Under Custody (AUC) and is expected to reach $2 billion AUC soon. This suggests the crypto markets are still growing exponentially and many institutions will require custody services for their coins. These institutions are likely to sell Bitcoin and cash out crypto straight from the custody service.
You can find Cold Storage services over on our site along with the latest articles to keep you informed. Check us out also if you’re looking to sell crypto UK.
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 email@example.com 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 firstname.lastname@example.org 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 email@example.com Kind Regards