Altcoin.io Has Successfully Raised Almost $1 Million in Funding
San Diego-based decentralised cryptocurrency exchange Altcoin.io has successfully raised almost $1 million in funding through WeFunder. The funds will be used to launch what it claims will be the safest platform for the exchange of digital value, as reported through PR Newswire. Altcoin.io plans to develop a scalable, instant and trustless trading exchange built using Plasma, Ethereum’s side-chain scaling solution. Users will be able to use the exchange to sell cryptocurrency peer-to-peer (P2P).
Most users sell crypto through centralised exchanges. A user that wishes to make an order to sell Bitcoin through a centralised exchange will have to deposit their coins to a wallet which is not in their control. By doing so the user’s coins are no longer in their possession and centralised wallets holding the trader’s funds attracts hackers.
Altcoin.io is planning on reducing risk to users by developing a decentralised, P2P, trustless exchange built on Plasma smart contracts which locks value and provides proof of locked value, the token itself to a sidechain. Users will use their own wallets to sell crypto through the order book ensuring funds are in users’ possession during all stages of the trade. Distributing user funds will help to reduce the impact that a hack could impose on an exchange as they would have to hack multiple wallets.
Exchanges are increasingly having to improve their measures to combat hacks. Altcoin.io is hoping to address these by creating a decentralised exchange. Security is one of the most important factors to gain the trust of users and generate confidence.
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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:**
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