Yet another startup bites the dust. The Google Ventures + Y Combinator supported cryptocurrency trading (bitcoins) platform, Buttercoin, has announced it would be switching off on April 10, at 11PM Pacific Time, to be more specific.
The announcement was rolled out on its Website. “Be sure to move your bitcoins to another service and remove your dollar balances by Friday April 10th at 11PM,” is what the message to users says.
Dollar balances not removed at the end of the deadline will be sent back to the accounts they came from. Bitcoin balances in Buttercoin after April 10 will be converted to US$ & sent to the bank linked to your account. It’s been a wonderful ride and we’re delighted to have created a service so many people enjoy. With the dip in bitcoin interest among Silicon Valley investors, we weren’t able to generate enough venture capital interest to continue funding
Lack of investors seems to be the main reason behind Buttercoin’s decision to shut down. The closure noticefurther said: It’s been a wonderful ride and we’re delighted to have created a service so many people enjoy. With the dip in bitcoin interest among Silicon Valley investors, we weren’t able to generate enough venture capital interest to continue funding Buttercoin.
We remain 100% secure & solvent with all customer funds accounted for.
We started Buttercoin with the goal of creating secure and scalable bitcoin infrastructure the community could rely on. We commited to building a service with excellent Security, Technology, Liquidity and Compliance. We’re proud to have delivered on our goal and commitments.
It was just in January this year that Buttercoin’s new referral program had been announced. Under this, Buttercoin users who would spread the word would get paid (instead of paying advertising companies, as Buttercoin’s post on its blog had said).
Now, with the decision to shutter made, April 10 will be the last date when this cryptocurrency trading platform will make its last trade.
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