The Majority of Cryptocurrency Investors Understand Little about the Asset
Cryptocurrency Professional – Mark
Bitcoin (BTC) could become one of the largest and most influential commodities in history. The currency has reached historic heights and has recently gone past the $50,000 mark once again, but it has now made a minor dip that has taken it back down to the $48,000 mark. Even then, the asset has soared by more than $30,000 in the last few months alone.
Apparently, people are ready to get their hands on it. For something growing so fast, people want to take benefit of the money, but it seems like at the present time the only thing that drives large Bitcoin transactions is fear of missing out (FOMO). The irony is that many investors and buyers are not too familiar with the technological side of Bitcoin, so they are purchasing something that they do not fully understand.
Survey Firm Cardify did a survey targeting more than 700 different investors around early to mid-February. Throughout that time, the price to buy and sell Bitcoin jumped up more than $10,000, increasing from $37,000 to around $47,000. As per survey results, not even 17% of all those who participated in the study fell into the "fully understood Bitcoin " group. However, almost 34% fell into the "zero knowledge" band.
During the previous year, Bitcoin was also on a run, and by the end of the 12 months it had hit almost $20,000 per unit. The next year, within a couple of months, Bitcoin had lost half of its worth. By the summer, it was priced in the $6,000 range, and by the end of the year, every Bitcoin was worth just around $3,500.
Price fluctuations are a big concern for many retails clients. With instability of price, users who don’t monitor this movement could possibly see a lot of their money disappear without notice, but this could also be said for the increase in value.
If you’re interested in buying and selling Bitcoin and looking for a good Bitcoin Broker in the UK, then head over to BC Bitcoin and register an account with us today.
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