By Tyler S - Crypto Broker - 07-09-2021
The world of crypto has extensively grown in the last year, with many people looking to expand their portfolios and start investing in cryptocurrency. Another side of the crypto industry is the NFT marketplace, where artists can sell their digitalised artworks and content to investors.
The NFT industry has been growing at an exponential rate, with crypto artworks selling at high prices. Thanks to smart contracts, the industry is an excellent place for artists to make a continuous profit from their art. Smart contracts allow artists to constantly earn royalties from other investors who buy the artwork for their own collection or to sell it on again.
In recent news, a cryptocurrency exchange has released a new sector on its platform, allowing customers to buy and sell NFTs. A platform where you can buy, sell and exchange crypto, FTX saw a massive opportunity and recently launched its built-in NFT marketplace for its users in the United States.
With the announcement of the new marketplace came a very simple word-art NFT graphic that had nothing but the word "Test" scribbled onto a plain white background. The platform's first NFT graphic is believed to demonstrate to the public FTX's latest feature. In the early AM of today, it's reported on FTX's official Twitter page that the Test NFT had been sold for $270,000.
Reportedly, as of current, the platform's users can only view and upload NFTs to the marketplace. While FTX is still finishing the development of the new feature, they aim to allow users to withdraw and deposit on the platform soon. Once the sector is complete, users will also buy, sell and mint NFTs on the cryptocurrency trading platform. The CEO of FTX has stated in the announcement that in a cross-chain partnership, all NFTs sold on the FTX platform can be found on Ethereum and Solana.
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 firstname.lastname@example.org 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 email@example.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 firstname.lastname@example.org Kind Regards