Share this article
Snapcard to Shutter Bitcoin Wallet Service
Snapcard announced today it will shut down its bitcoin wallet service sometime in the next few months.
By Stan Higgins
Updated Sep 11, 2021, 1:09 p.m. Published Mar 14, 2017, 1:36 p.m.
Bitcoin startup Snapcard will close down its wallet service in the next few months, its operators said today.
In a new blog post, the startup said that it would now look to prioritize MassPay, a service launched in 2015 that uses the bitcoin blockchain as a payment rail.
STORY CONTINUES BELOW
Jangan lewatkan cerita lainnya.Berlangganan Newsletter Crypto Daybook Americas hari ini. Lihat semua newsletter
According to Snapcard, the shutdown will begin next week, during which time it will push for its users to move funds off-site. Buying and selling features will be deactivated on 20th March, with a final closure date of 1st May.
The team said in the blog post:
"We've come to a point where we need to make some decisions on our current product offering and what we're able to manage. Our Masspay product has been aligned with the value that we bring to the community and is something in which we will be investing heavily."
The closure comes more than two years after the startup raised $1.5m in a seed round, netting capital from a group that included Tim Draper, Blockchain Capital and startup incubator Boost VC, among others.
"We genuinely mean it when we say, it’s been a hilarious rollercoaster being part of this space as we’ve seen the price reach record highs," the team concluded in its statement.
Image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
What to know:
- K33 Research says bitcoin’s steep correction shows signs of bottoming, with December potentially marking a turning point.
- The firm has argued that the market is overreacting to long-term risks while ignoring near-term signals of strength, like low leverage and solid support levels.
- With likely policy shifts ahead and cautious positioning in futures, K33 sees more upside potential than risk of another major collapse.
Top Stories
