A reply from Bit121
So, a few weeks back we highlighted our concerns with the new UK bitcoin exchange bit121. To our surprise we received a prompt reply from the bit121 CEO. Of course as it was a private email, we won't publish the contents of the email, however we will say this. We were very pleased with what we read, and it was good to hear from the horses mouth exactly what the difficulties are with running an exchange in the UK and the reasons why their KYC measures are so rigorous.Bit121, still resides hidden behind only an email address, but at least we now know that this email address is linked to the CEO and he has taken the time out of what must be an incredibly busy schedule to address our concerns, and we shall now take the plunge and give bit121 a go.
We will of course let you all know how we find the platform and also how quick the deposit and withdrawal methods are. A working bitcoin exchange in the UK will definitely be a big deal and with no competiton at the moment, we just hope that Jim Iddiols and his team are ready for the rush of traders.
Will this year be the year that hedge funds dip into Bitcoin and raise the market cap? If so will they add much needed liquidity to the Bitcoin economy?
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