Bottlepay, a well-liked client app for Bitcoin transactions, has announced its closure on Monday, July 24, 2023, leaving customers with the duty of withdrawing their funds. The corporate said that each one accounts shall be closed, and customers are urged to withdraw their funds both as Bitcoin or fiat forex (GBP/EUR) from the Bottlepay app earlier than the closure date.
Failure to withdraw funds by the closure date will end in Bitcoin being transformed to fiat forex and returned to the nominated checking account, whereas any fiat left within the account shall be returned to the nominated checking account as nicely.
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 data beneficial for future reference. Because the closure date approaches, Bottlepay could contact customers who nonetheless have Bitcoin or fiat forex of their accounts, both via the app or by way of electronic mail. Nonetheless, the corporate cautioned customers to concentrate on potential scams and by no means provoke an offboarding course of outdoors of the app.
Concerning the following steps, customers are suggested to obtain their transaction historical past and shut their Bottlepay accounts. Directions on easy methods to withdraw funds from Bitcoin and fiat accounts, in addition to easy methods 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 attributable to the closure. Whereas the corporate shunned making particular suggestions about what to do with Bitcoin funds, customers have been inspired to train due diligence when choosing various custodial wallets or changing Bitcoin to fiat forex. The Monetary Conduct Authority (FCA) register will be consulted for data on different FCA-registered cryptoasset companies working within the UK.