By Ollie H - Bitcoin Professional - 31-10-2021
As Prop 60 lays out the new upgrade plans for Kava-8, the users of the platform now have access to borrowing $USDX. USDX is a stablecoin native to that of the Kava network, where users can buy cryptocurrency USDX to use as collateral when lending and bring in higher profits. Users can earn without mass price fluctuations by utilising a stablecoin for borrowing and lending. Making a stablecoin accessible within the platform makes borrowing tokens and investing in cryptocurrency less risky and attracts many safe players.
Users can gain stablecoin USDX when adding crypto market investments into Kava Mint protocol. Once the assets have been given to the protocol to be used as collateral, Kava users will obtain USDX to borrow against their locked crypto assets. USDX, unlike the initials suggest, the stablecoin is not pegged to the US dollar price, but rather it's fixed to the Kava's market flow.
Aside from USDX, Kava Lend (HARD) has another native cryptocurrency on its platform with the crypto coin ticker HARD. HARD is a token used within the Kava network to reward borrowers and/or deposit cryptos. Users can buy Kava Lend (HARD), which can be used for governance on the platform. Once users lock their crypto assets into Mint, which will be used as collateral, and when users begin borrowing against their locked assets, then will obtain HARD which will further give them access to other features. Extra liquidity and market exposures will be made available to all Kava Lend HARD holders. To receive more $HARD and $KAVA tokens as rewards, users can also deposit and borrow a wide range of crypto assets that are high priority.
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