By Jamie – Cryptocurrency Professional - 30/12/2021
The number of Bitcoin ATM's on the streets is increasing as the demand for buying and selling cryptocurrency, such as Bitcoin (BTC), grows. ATM’s help the move from crypto to fiat and the reverse, providing simple transactions and easy currency conversion.
In 2021, about 20,000 Bitcoin ATM’s were deployed, an average of 50 per day. This totals 34,000 ATMs globally, with the United States leading with 30,123 ATM’s, Canada second with 2,216 ATM’s and El Salvador third with 205 ATM’s within its borders.
Bitcoin's price has climbed by more than 65% in the last year, now trading below $50,000. Many note upon the likely difference between Bitcoin ATM’s and cryptocurrency exchange platforms, addressing the fact that transaction fees will be higher and more volatile. Here at BC Bitcoin, we offer competitive rates with no hidden spread. If you are looking to buy Bitcoin, head over to our Buy Coins page and follow the steps!
While fees may be higher, many users in the community are particularly intrigued by Bitcoin ATM’s as they may not require or implement the same AML KYC (Know Your Customer) procedures. El Salvador which became the first country to accept Bitcoin as legal tender already has over 200 machines, overtaking European jurisdictions including Spain, which has less than 200, and Austria with 142. The UK has only 101 operating crypto ATM’s at the time of writing.
Buying and Selling Bitcoin (BTC) is attracting more participation and momentum from both retail and institutional investors. We provide services for both individuals and corporations here at BC Bitcoin so Register an account 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 email@example.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 firstname.lastname@example.org 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 email@example.com Kind Regards