Well, it looks like the bitcoin craze isn’t ending anytime soon! The world’s biggest digital currency is skyrocketing as more and more investors join the crypto craze. At the time of writing this article, Bitcoin is floating around $56,208.
People worldwide are eager to get their hands on digital currency, and this startup from Newcastle is making it a reality. Bottlepay, a new digital payments app, satisfies a growing need for easy, jargon-free ways to buy and sell non-technical Bitcoin.
Send Bitcoin via Twitter
To make Bitcoin accessible to everyone, Bottlepay allows people to send and receive Bitcoin via Twitter. Notably, it is the very first platform on which users can send and receive Bitcoin instantly via social media.
Unlike PayPal and Revolut, whose users cannot currently spend or withdraw their Bitcoin, Bottlepay allows its users to withdraw, deposit or spend their Bitcoin on tangible goods anywhere in the world with a single slide.
Mark Webster, Chief Executive Officer of Bottlepay, said, “Bottlepay’s social Bitcoin payments are a much-needed update on the clunky, outdated payment systems available up until now, and a leap towards smoother, easier transactions.”
How to send it?
A single tweet — for example ‘@bottlepay send 1,000 sats (the smallest unit of Bitcoin) to @twitteruser’ — will instantly move the specified quantity of Bitcoin from one user’s account to another. Since the app launched last month, users have already made total transactions of more than £1.7 million.
Why this move?
The UK company aims to revolutionise digital payments for the average consumer, allowing anyone with the app to be part of a growing cashless society in a way that suits them. Further, the app also reduces the merchant charges and transfer fees associated with digital payments.
Is it exclusive to Twitter?
No! As per the company’s claims, the digital payment app will also allow users to spend and transfer money on Reddit, Discord, Twitch, Telegram, and Mastodon.
Is it just for Bitcoin?
Besides Bitcoin, Bottlepay also supports other conventional currencies, enabling users to send and receive anywhere in the world, in real-time. The company also said it would be adding more conventional currencies shortly, with support for the ‘euro (€)’ up next.
The company is leveraging its next-generation payment infrastructure to create an instant, low-cost alternative to Wise, Currencyfair, and others.
Raised £11 million
Founded by Pete Cheyne, and Peter O’Donoghue, Bottlepay Ltd is registered in the UK and is part of the FCA’s Innovation Hub. Last month, the company raised £11 million in seed funding from a range of investors including British fund manager Alan Howard, present and former Goldman Sachs partners, FinTech Collective, and NYDIG.
Over the last 12 months, Bottlepay has aggressively hired and has expanded the team by more than 200%. This year it hopes to grow the team by a further 60%.