Bitcoin payment app Bottlepay to discontinue services

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bottle payBitcoin is a popular consumer app for transactions announced It will close on Monday, July 24, 2023, leaving users to withdraw their funds. The company said that all accounts will be closed, and users are urged to withdraw their funds in the form of bitcoin or fiat currency (GBP/EUR) from the Bottlepay app before the date of closure.

Failure to withdraw funds by the closing date will result in the bitcoins being converted into fiat currency and returned to the designated bank account, while any fiat remaining in the account will also be returned to the designated bank account.

Bottlepay, in a statement, advised users to use the download feature of the app to save transaction details before the date of closure. The company stresses that bitcoin transactions can have tax implications, making the downloaded information valuable for future reference. As the closing date approaches, Bottlepay may contact users who still have bitcoin or fiat currency in their accounts via the app or email. However, the company warned users to beware of potential scams and to never start the offboarding process outside the app.

Regarding the next steps, users are advised to download their transaction history and close their Bottlepay accounts. Instructions on how to withdraw funds from bitcoin and fiat accounts, as well as how to download transaction history and how to close accounts, can be found on the app.

In a closing note, Bottlepay expressed its gratitude to its customers and apologized for the inconvenience caused by the closure. While the company refrained from making specific recommendations about what to do with bitcoin funds, users are encouraged to exercise due diligence when selecting an alternative custodial wallet or converting bitcoin to fiat currency. The Financial Conduct Authority (FCA) register can be consulted for information on other FCA-registered cryptoasset businesses operating in the UK.