37Coins.com Shuts Down Bitcoin Operations
Amidst all of the adulation and positive energy surrounding Bitcoin these days, it may seem like the series of mining closures of 2014 seem like a decade ago. Alas, there are some casualties to speak of today, as 37Coins, who has been a popular Bitcoin wallet provider since 2013, has shut its doors. Big hopes and dreams of providing the over 2 billion unbanked with Bitcoin accounts started their venture. Making a simple destination for Bitcoin newbies to make digital currency transfers worked in the short-term. 37Coins started off fast and was an attractive alternative to massive wallet....
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Bitcoin remittance startup 37coins is closing its doors. In a new blog post, the company said it was shutting down its service and its SMS-based wallet. However, users have until 30th December to withdraw their balances. More information about the withdrawal process can be found here. The closure marks the end of a process that saw the startup take part in Plug and Play's bitcoin startup group. 37coins aimed to use low-cost cell phone technology as a means to enable cheap transactions, but according to the team, development ran into headwinds that ultimately proved insurmountable. The post....
Bitcoin remittance service 37coins has announced that it will be closing shop and will no longer be offering its SMS-based wallet. Users have until the end of the year to withdraw their balances before the company's official closure. This bitcoin remittance startup aimed to use low-cost cell phone technology as a means to enable cheap transactions. It was able to take part in Plug and Play's startup group before its development team ran into major headwinds. Bitcoin Remittance Shutdown. "Despite the best of intentions, we were unable to deliver a quality product that showed product-market....
Startup 37Coins has created a universal bitcoin wallet that can be used on any cellphone, aiming to provide people around the globe with better access to financial resources. The service allows consumers to pay in bitcoin from any mobile device with SMS functionality via a 'gateway' in the user's country of origin. This means that the benefits of the digital currency can be accessible to people who arguably stand to benefit the most, like those in poorer regions of the developing world and areas without advanced communications infrastructure. As Jonathan Zobro, one of the company's....
New Zealand’s Bitcoin market is to shrink even further in April when one of its flagship exchanges bitNZ shuts down due to banking difficulties. In an explanatory note on Reddit, the exchange stated that “bank hostility” was the reason behind its ceasing operations in the near future. It requested all customers withdraw any remains funds by April 15. “Due to the refusal of NZ banks to allow bank accounts for the purpose of trading Bitcoins it is impossible for us to continue operations,” it said. bitNZ BitNZ is one of the Bitcoin ecosystem’s oldest exchanges, having run since 2011. In that....
While some Bitcoin community members see this as a “curtain call” for Bitcurex, that doesn't seem to be the case. It is true not alerting platform users is no proper way of conducting business in the financial sector. Whenever a Bitcoin exchange platform shuts down, it is never a pleasant feeling. Unfortunately, not all of these companies have the financial means to sustain their operations. For Bitcurex, it appears a restructuring is in order, as they posted an official statement explaining the situation. Apparently, a new investor has been found, and changes need to be made. Although the....