By Jamie – Cryptocurrency Specialist - 03-11-2021
Investing in cryptocurrency can come with a lot of stories ending in a high or a low. Many investors can make a lot of money when they buy crypto, whereas others have less than good investments in their portfolios. In this crypto-win story, one investor had staked $8000 in Shiba Inu (SHIB) back in August 2020 and has grown to $5.7 Billion.
Reportedly, a crypto investor staked $8000 worth of SHIB tokens in mid-year 2020; the coin had seen massive growth over the year which meant that the investor is now transferring $5.7 billion worth of SHIB. According to analytic reports, the investor made multiple transactions of 10 trillion SHIB apiece to separate wallets. However, it appears that the tokens have yet to be sent to any centralised trading platform. According to Delphi Digital, an analysis firm for digital assets, each wallet that the investor owns currently contains $650 million SHIB tokens. Reportedly, these tokens were bought when the price to buy SHIB was $0.000000000189 per token; SHIB is now currently trading at $0.0000651 as of writing.
SHIB has seen massive price growth in the last year and is rising fast in the ranks, reaching the top 10 cryptocurrencies on CoinMarketCap. The token has grown so much that it's even become the third most searched crypto coin of the year on the Google search engine. According to statistics, SHIB has seen an average of around 2.8 million searches per month, fast approaching Bitcoin (BTC), which is searched 22 million times on a monthly average. Sandwiched between the two popular coins is Ethereum (ETH), in second place with 6.3 million monthly searches.
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