Bottlepay, a preferred shopper app for Bitcoin transactions, has introduced that it’ll shut down on Monday, July 24, 2023, leaving customers with the duty of withdrawing their funds. The corporate acknowledged that each one accounts might be closed and customers are inspired to withdraw their funds both as Bitcoin or fiat foreign money (GBP/EUR) from the Bottlepay app earlier than the deadline.
Failure to withdraw by the deadline will lead to Bitcoin being transformed to fiat foreign money and returned to the nominated checking account, whereas any fiat remaining within the account will even be returned to the nominated checking account.
In a press release, Bottlepay suggested customers to make use of the app’s obtain function to avoid wasting transaction statements earlier than the deadline. The corporate emphasised that Bitcoin transactions could have tax implications, making the downloaded data invaluable for future reference. Because the deadline approaches, Bottlepay could contact customers who nonetheless have Bitcoin or fiat foreign money of their accounts, both via the app or through e-mail. Nonetheless, the corporate warned customers to pay attention to potential scams and by no means provoke an offboarding course of outdoors of the app.
As for the following steps, customers are suggested to obtain their transaction historical past and shut their Bottlepay accounts. Directions on the right way to withdraw cash from Bitcoin and fiat accounts, in addition to the right way to obtain transaction historical past and shut accounts, will be discovered on the app.
In a closing be aware, Bottlepay expressed gratitude to its prospects and apologized for the inconvenience brought on by the closure. Whereas the corporate avoided offering particular suggestions on what to do with Bitcoin funds, customers had been inspired to train due diligence when selecting different custodian wallets or changing Bitcoin to fiat foreign money. The Monetary Conduct Authority (FCA) register will be consulted for data on different FCA-registered crypto-active companies working within the UK.
