Bytes of the Month
Issue 3 February 2019
Welcome back to the BC Bitcoin monthly newsletter! Every month we shall be bringing you some of the latest news going on in the Crypto space from the movement of the top coins to some of the most influential events. Be sure to read on to ensure you don’t miss out on any of the latest news.
BC Bitcoin Monthly Crypto Giveaway!
Congratulations to @SJB6991 the winner of our 200 XRP January giveaway! A big thank you to all those who entered!
Keep an eye out for our next giveaway through Twitter for a chance to Win 25,000 BTT, the new BitTorrent Token! If you would like to be in with a chance of winning simply follow us on Twitter @bc_bitcoin, like our BC Bitcoin Facebook page or Like/Retweet our giveaway and content!
Top 5 Cryptocurrencies
Price | 24hr % Change | 1 Week % Change | 1 Month % Change | |
Bitcoin | £2652.79 | 0.28% | -1.09% | -15.03% |
Ripple XRP | £0.2278 | 0.76% | -5.26% | -19.38% |
Ethereum | £81.81 | 1.98% | 1.49% | -30.47% |
EOS | £1.83 | 1.35% | 1.72% | -14.8% |
Bitcoin Cash | £90.67 | 2.91% | 1.82% | -27.5% |
Monthly Winners & Losers
Price | Monthly % Change | |
Agrello (DLT) | £0.0838 | 99.8% |
Holo (HOT) | £0.000876 | 93.7% |
Own (CHX) | £0.1486 | 67.5% |
Patron (PAT) | £0.002202 | -63.9% |
HyperQuant (HQT) | £0.002033 | -54.1% |
The Midas Touch Gold (TMTG) | £0.002443
| --53.5% |
*All Values Taken from the 07.02.2019 @ 12:00pm & Excludes Stablecoins.
*Excluding Daily Trading Volumes of Under £250,000.
BC Bitcoin News
Cold Storage
We at BC Bitcoin are able to offer our customers peace of mind with our high security Cold Storage solutions for Digital Assets offering 100% protection. We guarantee your coins from the moment we receive them until requested and withdrawn. There is no need to worry when using this service as we are 100% liable for the coins in our custody. You can find out more about this service we offer by clicking the ‘Crypto Services’ tab on our website.
New Coin Listing
BC Bitcoin are excited to announce the listing of the following coins to our platform:
Nexus (NXS)
BitTorrent (BTT)
You can find these coins by heading over to our ‘Buy Coins’ tab so don’t forget to check it out!
Crypto Wallet Guide
We have introduced a new Cryptocurrency Wallet Guide under the ‘Crypto Services’ tabon our site to provide additional help and guidance. You can currently find a guide on the popular Exodus wallet, an all-in-one desktop wallet supporting a wide range of Digital Assets. Here, we will take your through the steps from setting up your wallet to receiving and sending transactions. We will continue to make new additions to this page for more guidance on other wallets so be sure to check back in!
Top News of the Month
BitTorrent Token Sale and Additional Giveaway
The BitTorrent (BTT) sale concluded after less than 15 minutes of commencing on the Binance Launchpad due to high demand from investors. All the 59.8 Billion tokens available were sold leaving many investors without. The Binance launchpad servers experienced an overwhelming number of purchase orders resulting in some investors expressing their concerns with missing out. Due to the circumstance of the event, Binance are to give each eligible but unsuccessful individual 5,000 BTT.
FCA to Provide Further Guidance
The Financial Conduct Authority (FCA) is to provide further guidance whether firms Crypto Asset activities fall under FCA regulation to ensure they are fully compliant. This comes after recommendations from the industry and Crypto Asset Taskforce. The consumer is the goal to try and provide clarity on what’s regulated and what protection they have for the market to function effectively. You can find more information on this by heading to our ‘Articles’ section at the bottom of our ‘Sell Coins’ page.
Ledger Live Comes to Android and IOS
The popular hardware device manufacturer, Ledger, has released a new mobile version of their Ledger Live Application. The app currently allows users with a Ledger Nano S or Ledger Blue to view their balances scanning a LiveQR code on the desktop version, enabling you to view your balances on the go. The app can only display balances in a consultation mode for now but will integrate further with Android using an OTG cable and wirelessly with the Ledger Nano X.
Cryptopia Hack
On the 14th January, the Cryptopia Cryptocurrency exchange suffered a hack in a theft which resulted in more than $23 million of stolen crypto. This hack occurred differently to previous in which the hacker conducted many smaller transactions from multiple wallets with the private keys, as opposed to a vulnerability in the wallets smart contract. Taking the funds out slowly helped the hacker avoid detection and was able to drain further funds even after Cryptopia revealed the hack and an investigation had commenced.
Japans FSA Looking into Cryptocurrency ETF’s
After abandoning plans for derivatives based on Cryptocurrencies, Japans Financial Service Agency (FSA) could yet approve Exchange-Traded Funds (ETFs) tracking the assets. The decision will come after the FSA analyses the industries appetite for such products. The conclusion from this will likely aid future bills and amendments to securities legislation and potentially result in some changes to the Payment Service Act. An ETF approval could yield greater legitimacy of the markets in the eyes of some investors. Make sure you check out our article on this progress by heading to the ‘Articles’ section at the bottom of our ‘Sell Coins’ page.
Ethereum Hardfolk Postponed - Constantinople
The Constantinople upgrade for the Ethereum network was scheduled to go live on the 16th of January but has been postponed due to the detection of a security issue. The implementation of the new protocol would result in smart contracts becoming vulnerable to a re-entrancy attack and has been delayed to the 27th February. The community or developers could not risk trading security for efficiency and postponing the upgrade was the best solution.
HSBC Settles $250 Billion Worth of FX Using DLT
UK bank HSBC has reportedly settled $250 Billion worth of Foreign Exchange (FX) transactions using Distributed Ledger Technology (DLT). Traditionally, HSBC would use the specialist financial institution, Continuous Linked Settlement (CLS) to handle FX, however, this experiment has shown the applicability of Blockchain technology for the settlement of FX transactions. Perhaps HSBC has given us a glimpse of what the potential future of FX transactions could hold, though the implementation of DLT instead of traditional FX is still far off. We have more information on this development over on our site so make sure you head to our ‘Articles’ section under ‘Useful Links’.
Let us know what you think
At BC Bitcoin we are committed to the innovation and improvement of our services and platform and value your opinion. So, let us know if you have any feedback or would like to see any additions to our newsletter or services.
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 info@bcbitcoin.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 info@bcbitcoin.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 info@bcbitcoin.com Kind Regards