Bitcoin Predicted to Grow and Explode in India
By Max Steadman – Cryptocurrency Enthusiast
Back in March, the Indian Supreme Court overturned the financial restrictions for cryptocurrency trading and exchanges. This ‘positive verdict’ supported a new and optimistic awareness for Bitcoin investing for the country. Another major factor that contributed to this decision was the joining of Binance to the Internet and Mobile Association of India (IAMAI).
Matic Network co-founder Sandeep Nailwal highlights India’s huge market for digital currencies. He notes how the country has over one billion people working in technological industries. There are more tech employees, he says, than the whole population of some countries. Bangalore is the tech hub central, with a surplus of digitally skilled people willing to confront user experience barriers that delay ‘mainstream’ adoption.
Nailwal goes on to call Bangalore the Silicon Valley of India and acknowledges numerous blockchain initiation projects and incentives around the country. The ETHIndia Community Telegram Group for example has approximately 931 members. He adds that while institutional and government blockchain schemes navigate challenges such as food and health distribution, more Indian decentralized applications (Dapps) will start being used and implemented.
Unocoin exchange co-founder reinforces Nailwal’s sentiment. He reminds us that now some of the country’s major tech legal battles had been won, more platforms that buy and sell Bitcoin are coming ‘back from the dead.’ With external conditions also changing, including Trump’s administration’s tightening of foreign employee’s visa requirements, Indian workers may be more motivated to develop their tech careers in India’s own sector and companies.
Many also address the similar investment possibilities between gold and buying Bitcoin as a means for Indian households to custody their own wealth. Some note how familiar users may build their crypto portfolios as digital assets become more attractive and as families seek more investment diversification.
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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:**
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