By Ollie H - Cryptocurrency Broker - 04-10-2021
BenQi (QI) is a liquidity mining protocol that's built within the Avalanche network. As of writing, the protocol's Total Value Locked (TVL) is worth around $1.7 billion as reported by Coin 98 Insights, which is the most significant TVL volume within the Avalanche ecosystem so far. The platform has seen a lot of growth despite the launch being only a couple of months ago. Since its launch, BenQi has reportedly achieved a lot in a small-time frame, one notably obtaining a large TVL.
The users of the protocol borrow and lend via the initiative. Users can invest in cryptocurrency so that they can lend their tokens for profit. For example, users can buy BenQi QI and then begin to lend QI to borrowers while receiving a ‘risk-free’ interest rate. Users can also buy BenQi token QI for governance and vote on deciding factors in the platform.
The platform's goal is to establish a protocol in the liquidity market sector that is fully decentralised. Creating a fully decentralised protocol could mean outstanding issues within the current financial markets could be resolved. BenQi aims to provide unlimited and permissionless access to the liquidity market, which they believe will help solve many of the crypto industry's problems. BenQi is a protocol that attracts new enthusiasts of cryptocurrency trading who haven't entered the world of borrowing and makes this investment method much safer, less frightening, and less complicated.
On the platform, users can deposit and withdraw assets from a joint liquidity pool. You can also borrow assets while holding whatever cryptoasset they have given to the pool to be used as collateral in which the user will also receive live interest rates to judge the market.
If you are looking to Buy and Sell BENQI, then you can head over to BC Bitcoin where you can safely start trading 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