By Kenny S - Cryptocurrency Speculator - 27-07-2021
As the price to buy Ethereum (ETH) continues to climb, transaction and gas fees on the network see a corresponding increase.
After Ethereum's London hard fork initiated its release, the circulating supply of the ETH coin experienced high volatility, particularly in its burn rates and gas prices. The Ethereum NFT standard for many is also a contributing factor for this increased activity.
The burning rate resulted in over 800 deflationary blocks being produced. The much-anticipated London hard fork is on its way to creating a name for itself. According to the community, the network transaction price has increased just a few days after its inception. Nonetheless, the supply has seen an outage due to the fee burn rate.
On social media platform Twitter, the ETH Burn Bot account sends out regular tweets regarding hourly updates on the number of ETH burned. It documents the project that uses EIP – 1559 for burning. The EIP - 1559 allows users to view and track the total amount of ETH being consumed.
While there remains some uncertainty with Ethereum's network deflation, the bot tweets provide users with added clarity to determine how much ETH is being burned over time. The automated updates also give users a clearer image of the deflation rate. Due to lessened incentives for ETH hodlers under this new plan within the network, the platform has made it crucial to keep its customers updated on any development regularly.
If you are looking to Buy and Sell cryptocurrency, but you’re not sure how to buy Bitcoin (BTC) then you can head over to BC Bitcoin where you can safely start investing 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