By Aaron - Crypto Specialist - 30-09-2021
Bonfida (FIDA), a product suite designed to connect Serum to Solana (SOL),recently saw a surge in price after a popular cryptocurrency trading platform listed it. FIDA is a new crypto altcoin that was developed within the Solana Network; the suite aims to support the decentralised finance (DeFi) sector within Solana's ecosystem. As previously mentioned, Bonfida bridges Serum to Solana; Serum is a decentralised exchange also built within the Solana network which provides users with affordable, fast and permissionless services.
Recently, crypto exchange Binance had listed the cryptocurrency, making it available for Binance users to buy, sell, and trade FIDA. Once Binance listed the coin, the price to buy FIDA rose significantly. Binance had released a statement regarding the Solana-based crypto coin, stating that Bonfida is its own ecosystem. Binance explained that Bonfida's product suite includes a native perpetual swap that allows users to invest in cryptocurrency without owning any. Another product within Bonfida's suite is the Solana Name Service which is used for transacting Solana addresses. Finally, Bonfida contains Bonfida Bots; the bots give users access to trading strategies that are automated as well as "copy-trading on Serum DEX."
After the coin's listing, Bonfida's price increased by almost 20%, rising from $5.54 to about $6.59. The rise in price comes after the Binance announce which was released on Wednesday. Since the announcement, the price has dropped to the price of $6.07 at the time of writing. Reportedly, FIDA holders have access to staking rewards and cheaper transaction fees.
If you are looking to Buy and Sell FIDA, then you can head over to BC Bitcoin where you can safely trade 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