By Tyler Smith – Cryptocurrency expert
The Swiss town of Davos are currently providing their consensus on physical cash. The potential outcome of this is cash vanishing from all markets. This was mentioned during a session of the World Economic Forum in Switzerland. An economic advisor claimed that physical money is almost out, a sentiment echoed by Jordan’s Minister of Digital Economy & Entrepreneurship Mothanna Gharaibeh. He later wished for the public to pick up electronic methods of payment, whether they be mobile wallets, cryptocurrencies or bank transfers.
If members of the public do indeed start utilizing electronic methods more regularly, we could potentially see more users buying Bitcoin and other cryptocurrency, for both money transfer purposes as well as for payment of goods.
Gharaibeh did admit that it would be hard for people to revolutionise from cash to e-money, especially for those with no bank accounts. He does not believe that money needs to be reinvented, just that the anonymous properties need removed. When you buy Bitcoin to transact, these are all verifiable but anonymous, which would not alleviate Gharaibeh’s concerns.
In contrary to the stance of Gharaibeh, Harari foretells a reduced level of privacy in financial matters and considers this a very perilous idea. However, most bankers, economists and politicians at the WEF are in favour of this asset type. It is advantageous for our society in long-term scenarios to buy cryptocurrency to reduce costs and increase the speed of transaction.
Many policy makers believe that with more financial data collection and passive surveillance, the public will benefit greatly. The data collected should be securely maintained as any kind of breach can lead to a disastrous loss.
Many users of cryptocurrencies trade daily, meaning they buy and sell cryptocurrency regularly. If you’re looking for the best place to buy Bitcoin, check out our website to buy Bitcoin in the 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 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