bottlea popular consumer application for bitcoin transactions, has announce They close on Monday, July 24, 2023, leaving users with the task of withdrawing their funds. The company stated that all accounts would be closed, urging users to withdraw their funds in either bitcoin or fiat currency (GBP/EUR) from the Bottlepay app before the closing date.
Failure to withdraw funds by the closing date will result in the Bitcoin being converted into fiat currency and returned to the specified bank account, while any remaining fiat currency in the account will be returned to the specified bank account as well.
In a statement, Bottlepay advised users to use the app’s downloads feature to save transaction data before the closing date. The company emphasized 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 account, either through the app or via email. However, the company warned users to be aware of potential scams and never initiate an off-the-shelf operation outside of the app.
Regarding the following steps, users are advised to download their transaction history and close their Bottlepay accounts. Instructions on how to withdraw money from Bitcoin and fiat accounts, as well as how to download transaction history and close accounts, can be found in the app.
On a closing note, Bottlepay expressed its gratitude to its customers and apologized for the inconvenience caused by the closure. While the company declined to provide specific recommendations on what to do with Bitcoin funds, users were encouraged to exercise due diligence when choosing alternative custodial wallets or converting Bitcoin to fiat currency. Refer to the FCA Register for information on other FCA-registered crypto-asset firms operating in the UK.
