Bitcoin Payment App Bottlepay Announces Closure of Consumer App
Well-known Bitcoin transaction application Bottlepay has declared that it will cease operations on Monday, July 24th, 2023, mandating its users to withdraw their funds.
The company has confirmed that all user accounts will be terminated and is strongly advising users to withdraw their funds, whether in Bitcoin or in fiat currency (GBP/EUR), from the Bottlepay app prior to the closure.
If users fail to withdraw their funds before the closure date, any Bitcoin balance will be exchanged into fiat currency and transferred back to the user's designated bank account. Likewise, any remaining fiat currency in the account will also be returned to the user’s bank account.
In an announcement, Bottlepay recommended users to leverage the app's download function to preserve transaction records prior to the shutdown date.
The company highlighted that due to potential tax considerations associated with Bitcoin transactions, the downloaded data could be of significant use for future needs.
As the closure date nears, Bottlepay might reach out to users with remaining Bitcoin or fiat currency in their accounts, either through the app or by email. They also warned users to stay vigilant against possible scams and to never commence the offboarding procedure outside the confines of the app.
It is recommended that users download their transaction history and close their Bottlepay accounts. Guidelines on how to remove funds from Bitcoin and fiat accounts, along with instructions on downloading transaction history and shutting down accounts, are available on the app itself.
In a concluding remark, Bottlepay conveyed its appreciation to its customers and extended apologies for any inconvenience stemming from the shutdown.
While the company abstained from offering explicit advice on what to do with Bitcoin funds after being withdrawn, they encouraged users to practice caution when choosing alternative digital wallets for custody or when exchanging Bitcoin into fiat currency.