More Industry Leaders Move to Decentralised Solutions
By Luke Flowers – Cryptocurrency Expert
Built on an ethos that focuses on the protection of assets, transparency, financial inclusion and legislative clarity, more cryptocurrency trading exchanges are beginning to implement properties of decentralisation. As more exchanges begin to integrate the advantages of decentralising, the outcome appears to be a more trusting consumer and financial sector.
The decline of trust in centralised bodies and establishments has facilitated the growth of blockchain technology in hopes of reshaping retail relationships with future financial ecosystems. Leaders in the industry are making deliberate choices that will modify the meaning of trust through new monitoring methods using networks of distributed nodes.
For those who buy and sellBitcoin, decentralisation redefines power and trust. Regarding digital markets, the decentralisation of asset custody also removes dependence on third parties or single entities. For the first time, consumer funds will no longer be stored centrally. The notion enhances security and privacy and is an industry expected to reduce cybercrime and losses by $5 trillion in 2021.
While there are clear benefits to the migration of decentralised systems, there are hurdles facing the space that require urgent solutions. Decentralised exchanges have substantially less liquidity. Widespread use of these platforms has yet to reach consumers and the lack of users results in less liquidity.
Decentralised exchanges also struggle and are confronted by more restrictions when tackling throughput and speed. Blockchain congestion can often cause slower money transfer speeds and delays. In addition, such platforms are only in their early states of design, meaning user experience and features are currently limited. While the shift to a decentralised financial system is underway, conscious steps of innovation and investment need to be taken.
You can Buy and Sell Cryptocurrency with BC Bitcoin. Contact a member of our team today to learn more about how to buy Bitcoin.
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