By Mark L - Cryptocurrency Specialist - 08/04/2021
Robinhood, an app aimed at millennials and other investors, has become a powerful cryptocurrency exchange platform, that is contributing toward digital assets gaining mainstream appeal. On Thursday, the company announced that 9.5 million users exchanged digital assets on its network during the first quarter of 2021, a sixfold rise from the previous quarter.
Users can buy and sell Bitcoin, Bitcoin Cash (BCH), Bitcoin SV (BSV), Dogecoin (DOGE), Ether, Litecoin (LTC), and Ethereum Classic, commission-free via Robinhood (ETC). It offers real-time market data for more than a dozen additional cryptocurrencies.
Given the size and growth rate of the crypto industry over the last six months, it is not surprising that Robinhood's crypto business is expanding. In early April, the total amount of all cryptocurrencies had reached $2 trillion, having doubled in just three months.
Bitcoin's nearly twofold rise since January fuelled a large portion of those gains. However, as Bitcoin's gains slowed, altcoins increased. According to CoinMarketCap numbers, cryptocurrencies other than Bitcoin now account for roughly 45% of the overall market.
2021 has not been entirely fruitful for Robinhood. The company became embroiled in controversy after agreeing to suspend trading in GameStop and other stocks that had risen in popularity among retail traders. Robinhood's market perception has plummeted, prompting its executives to reconsider their plans for a public listing.
Robinhood has announced, alongside Coinbase and Kraken, their stellar first-quarter performance. As Cointelegraph recently announced, Kraken appears self-assured to follow in the footsteps of Coinbase and Robinhood in pursuing a public offering, possible even as early as next year.
If you would like to Buy and Sell cryptocurrency, you can head over to BC Bitcoin to register an account to 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