Bitcoin Interest and Cryptocurrency ATM’s see a Boost in Distribution during the Global Covid Pandemic
By Max Steadman – Cryptocurrency Enthusiast
The cryptocurrency landscape is solidifying more and more as it enters mainstream retail utilities. New firms and projects are introducing crypto banking platforms and infrastructures in real-world high-streets, logistics and hospitality services. Cryptocurrency mass adoption is currently dependent on retail consumers having access to trustworthy and user-friendly platforms to buy and sell cryptocurrency. Numerous business models have addressed this in a variety of ways, one of course being cryptocurrency ATMs.
Influence of the Pandemic on Cryptocurrency
ATMs are one of the simplest and fastest ways to cash out crypto: only a smart mobile phone is required to buy, sell and transfer cryptocurrencies using an ATM.
ATMs are already available in more than seventy countries with retail users now truly adjusted and comfortable when accessing this technology. Reports around ATM implementation reveals that the US currently have over 7800 ATM machines up, running and in use, followed by the UK, Austria and Canada.
As social distancing, business hours and lockdown rules evolve during the pandemic, fewer customers are leaving the house to visit their local bank branch. With this, mobile banking application downloads and other similar fintech platforms have seen a huge increase in usage, as users seek new ways to digitally pay for goods and services.
Kelta, CoinFlip, and other cryptocurrency ATM organizations expect to see and incline in their services moving forward. The future looks very promising for cryptocurrencies, as PayPal, one of the world's largest digital payment systems, reveal their decision to approve cryptocurrency transactions on their platform. This was also reported after similar fintech firms, such as Square, receive increases in the number of cryptocurrency transactions as the sector as a whole
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