Tether is Coming to the Tron Network as an TRC-20 Token
By Jamie Green – Crypto Expert
Tether, noticeably the most popular Stablecoin, has announced plans to introduce their USD backed token to the Tron network. This token will function very similarly to USDT issued via Omni and the ERC-20 variant. By bringing this token to another network, traders have more opportunity to buy and sell crypto using USDT.
Tron was initially developed on the Ethereum blockchain which now runs on its own native blockchain. Companies and projects can issue their own tokens on this network which boasts faster speeds.
There has been huge interest into Stablecoins over the past few months which has seen many new additions to the markets. You can now find ten different Stablecoins that are pegged to the US Dollar to buy and sell cryptocurrency. These tokens have mechanics usually in the smart contracts to hold a stable value. These stable coins are preferred by traders as they allow crypto-to-crypto trades benefiting from the technology but do not fluctuate as much in price. It would take too long to transact Fiat directly for a trade.
The price of cryptocurrencies is subject to change due to volatility. To avoid negative price movements, a trader can exchange Bitcoin into a Stablecoin and back out when necessary. Cashing out crypto to fiat could incur delays however due to traditional banking practices and is not efficient enough to avoid price movements.
Tether is reportedly backed 1:1 by reserves of US Dollars. This backing should allow traders and holders to cash out crypto without worry as the money is inside an audited account.
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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