By Mark L - Cryptocurrency expert - 02-09-2021
The growth for cryptocurrency adoption has been expanding at an exponential rate in recent times. Many merchants are now allowing customers to pay with Bitcoin (BTC) and other forms of popular cryptocurrencies. In the United States, over 2300 retailers accept Bitcoin investments as a form of payment, and over 15000 stores businesses accept the currency worldwide.
Crypto exchange platform, Crypto.com, has recently announced on its payment gateway platform, Crypto.com Pay, that a new recurring payment function will be added to the gateway. The latest feature for Crypto.com Pay will allow retailers who use the platform to create subscriptions with cryptocurrency for their products and services. The feature helps merchants set up recurring payments from their consumers without extra expenses and interest. This is a perfect feature for customers who invest in cryptocurrency and would like to pay with their investments.
The new function, when completed, will be automatically upgraded to the system and will be available for use immediately. As soon as the subscription feature has been activated when purchasing a product or service, customers will see that the recurring payments will begin right away and be deducted from their Crypto.com app wallet. The charges will continue to carry out until the subscription period has expired.
How a subscription is created through Crypto.com Pay is retailers can create a catalogue of services and goods that will have a subscription, then they can customise the billing and price for each item on the Dashboard. After the subscriptions are implemented, customers can choose which cryptocurrency they want to use for payment. Some cryptos available to choose from are Bitcoin, Ethereum (ETH), Dogecoin (DOGE), and Litecoin (LTC).
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 email@example.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 firstname.lastname@example.org 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 email@example.com Kind Regards