Bottlepay, a preferred client app for Bitcoin transactions, has introduced its closure on Monday, July 24, 2023, leaving customers with the duty of withdrawing their funds. The corporate acknowledged that each one accounts can be closed, and customers are urged to withdraw their funds both as Bitcoin or fiat foreign money (GBP/EUR) from the Bottlepay app earlier than the closure date.
Failure to withdraw funds by the closure date will lead to Bitcoin being transformed to fiat foreign money and returned to the nominated checking account, whereas any fiat left within the account can be returned to the nominated checking account as properly.
In a press release, Bottlepay suggested customers to make the most of the app’s downloads function to save lots of transaction statements earlier than the closure date. The corporate emphasised that Bitcoin transactions can have tax implications, making the downloaded info useful for future reference. Because the closure date approaches, Bottlepay could contact customers who nonetheless have Bitcoin or fiat foreign money of their accounts, both via the app or by way of e mail. Nevertheless, the corporate cautioned customers to pay attention to potential scams and by no means provoke an offboarding course of exterior of the app.
Relating to the subsequent steps, customers are suggested to obtain their transaction historical past and shut their Bottlepay accounts. Directions on the right way to withdraw funds from Bitcoin and fiat accounts, in addition to the right way to obtain transaction historical past and shut accounts, could be discovered on the app.
In a closing word, Bottlepay expressed gratitude to its prospects and apologized for the inconvenience brought on by the closure. Whereas the corporate kept away from making particular suggestions about what to do with Bitcoin funds, customers have been inspired to train due diligence when deciding on different custodial wallets or changing Bitcoin to fiat foreign money. The Monetary Conduct Authority (FCA) register could be consulted for info on different FCA-registered cryptoasset companies working within the UK.