CJ - Cryptocurrency Enthusiast
A recent survey conducted by business data company Morning Consult in collaboration with Bloomberg and the World Bank found that more than half of the adult populations in Nigeria and Turkey engage in monthly cryptocurrency trading. In addition, India had the highest proportion of persons using cryptocurrencies, with almost 300 million individuals, even though this statistic only accounts for 29% of the country's adult population. China came in second with 93 million active crypto traders, representing just 8% of the country's total population.
The survey also found that one in seven individuals, or 900 million people worldwide, daily interacts with the blockchain ecosystem. This highlights the growing interest and adoption of cheap crypto currency as an investment option.
The few countries that have adopted Central Bank Digital Currency (CBDC) are Nigeria and India. In an effort to promote the usage of CBDC, the Nigerian Central Bank (CBN) recently suggested to outlaw ATM cash withdrawals of more than $225 per week. On the other hand, the Reserve Bank of India (RBI) published a 50-page concept note in October that established a retail CBDC for people and enterprises as well as a wholesale CBDC to streamline interbank operations.
Soon after, the RBI asked eight commercial banks to take part in the CBDC launch testing stage at the beginning of this month. In four cities throughout the nation, the financial institutions include the State Bank of India, ICICI Bank, Yes Bank, and IDFC First Bank.
However, for those who are new to the crypto market and looking for help to buy cryptocurrency, it's important to do your research and find a reliable crypto broker, such as BCBitcoin. Whether you're interested in trading crypto or simply holding onto it as an investment, there are many options available to you, but it's important to educate yourself and approach the market with caution.
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