By Mark - Cryptocurrency Dealer - 19-11-2021
The XYO Network, a platform backed by decentralised blockchain technology, has recently announced that the company has expanded its nodes to 3 million. Due to XYO continuously expanding its nodes, the company has grown to become the one of the biggest blockchain networks globally. The significant number of nodes mean that the network is now strong and large enough to provide data to important businesses. The main reason for the mass growth of the network is due to the Coin mobile app. Not to be confused with cryptocurrency trading platform, Coinbase with the stock ticker COIN, the company that allows investors to buy cryptocurrency.
The Coin app is a mobile-based application that rewards its users through incentives and crypto-assets. One asset in particular that users of the Coin app can receive are XYO tokens. XYO tokens are native to the network, the platform’s users can buy XYO or earn them for staking against unique ERC-721 tokens. Users of the coin app are able to help the XYO Network when the users enter in their geospatial location data whenever they’re on the move. The geospatial data details can include anything from travelling across the globe, commuting to work, going for a daily run, or just general movement in day-to-day life.
Aside from providing users with XYO incentives, the XYO Network and Coin app can help airport companies by helping them track all luggage by utilising the 3 million nodes in the system. Not just airports, but even hospitals and even retail/e-commerce businesses can benefit from the tracking technology. Despite being rich with tracking technology to upgrade many types of businesses and healthcare, the network has yet to show any indication that it plans on utilising its services in this way.
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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