Now, in a Matter of Minutes, You Can Purchase Crypto Straight From Your Bank Account
Cryptocurrency Enthusiast - Max
A new process allows nuclear exchanges between fiat and crypto—allowing digital assets to be purchased instantly from a bank account within moments.
An open source blockchain technology initiative has released a smart contract that allows nuclear exchanges between fiat and crypto.
Nimiq claims the OASIS protocol ensures that anyone who is new to the crypto community can build a self-custodial wallet and purchase NIM and Bitcoin (BTC) straight from their bank account in just 5 minutes. No registration or installation is needed. Support for other cryptocurrencies, like the ability to buy Ether and Litecoin, is expected to follow in the future.
The system was launched with the crystal-clear purpose of making crypto accessible and open to everyone with this new functionality in the works for two years. As per Nimiq, the friction involved with buying and selling Bitcoin and other digital assets has held back the acceptance of cryptocurrencies thus far.
While OASIS is still in the open beta stage, the project states that consumers have no chance of losing their funds—meaning that the software is entirely secure. Although usability is primarily focused on buying crypto, users will be granted the right to also sell cryptocurrency in the upcoming days.
Nimiq argues that an agreement with Germany's TEN31 Bank ensures that OASIS supports deposits made using euros from any bank account that has SEPA Instant features. However, the project's not yet underway with preparations to merge with the Costa Rican payment provider when it begins to make inroads into Latin America. In the final analysis, the aim of the Nimiq team is to expand OASIS to any big currency.
Initially, deposits are capped to $500 (approximately EUR 400)—a gross limit of $1,000 (approximately EUR 800) on a 30-day basis. It is expected that these caps will be raised in the not-too-distant future. Through a verified account on BC Bitcoin, we can facilitate much larger trades.
Nimiq stated that while endorsing greater swaps is definitely on the agenda, they agreed that the existing limits would still allow most people to engage.
Are you looking to trade cryptocurrency but not sure where to start? You can invest in cryptocurrency with BC Bitcoin where you buy Litecoin and other popular crypto. Register an account with us to begin 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 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.
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