By Mark Lemon – Crypto Broker
Despite Bitcoin being the most dominant, and famous, cryptocurrency around the world, it is still facing a difficult time becoming the most used currency for payments, even though the people want to buy Bitcoin. This is slowly changing as many businesses and merchants are slowly opening themselves to the idea of utilizing Bitcoin and other cryptocurrencies as a method of payment. It is a positive step forward to hear that trading platforms are showing movement in allowing merchants that process goods and services to accept Bitcoin.
It was reported by Chainalysis, an analytics firm, that Bitpay processed $1billion in transactions in 2019. This is compared to Coinbase and their processing of $135 million in cryptocurrencies, including Bitcoin. This shows a rise of 600% from 2019, ultimately indicting that more users are choosing to buy not only Bitcoin but other cryptocurrencies as well. The report goes on to detail that as much as $4 billion BTC payment transactions took place in the previous 12 months.
While this increase in cryptocurrency use is enhancing its worth, merchants are eagerly looking for better functionality of the technology for their & their customers ease as cryptocurrency integration has the potential to expand online businesses internationally.
One major concern for the public that often puts them off trading in crypto is its exposure to price swings and the general volatility of the market. They claim that the potential for Bitcoin to lose its value makes new users reluctant to use it. There are many projects to choose from and ways to diversify in the technology rather than keeping it as fiat.
At BC Bitcoin we offer a trusted service on our website if you are interested in buying and selling Bitcoin as well as other cryptocurrencies. We can exchange crypto to fiat or hold your cryptocurrency for you to sell later as we are the most trusted Bitcoin broker 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