Bottlepay, a popular consumer app for Bitcoin transactions, announced its shutdown on Monday, July 24, 2023, leaving users with the task of withdrawing their funds. The company says that all accounts will be closed, and users are encouraged to withdraw their funds either as 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 Bitcoin being converted to fiat currency and returned to the nominated bank account, while any fiat remaining in the account will also be returned to the nominated bank account.
In a statement, Bottlepay advised users to use the app’s download feature to save transaction statements before the closing date. The company emphasizes that Bitcoin transactions may have tax implications, making the downloaded information valuable for future reference. As the closing date approaches, Bottlepay may contact users who have Bitcoin or fiat currency in their accounts, either through the app or via email. However, the company warns users to be aware of potential scams and never initiate an offboarding process outside of 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 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 refrains from making specific recommendations about what to do with Bitcoin funds, users are encouraged to exercise due diligence in choosing alternative custodial wallets 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.
