As we mentioned in our email, in order to disrupt the way people and businesses pay and get paid in the UK, we're doubling down on our commitment to deliver a best-in-class payments solution. This means that we’ll be saying goodbye to the Bitcoin Jar and instead, introducing an exciting Bitcoin Rewards feature.
What does this mean for users?
- The Bitcoin Jar will continue to operate and pay you 3% APY until 27 August.
- From 27 August 2021, Mode will no longer pay out your weekly rewards to the Bitcoin Jar.
- Customers will not be able to open a Bitcoin Jar if they don’t already have one, and existing Bitcoin Jar customers will no longer be able to deposit funds from 30 June.
- On 31 August, we will securely transfer all of your Bitcoin Jar funds to your main Mode Bitcoin Account.
- We are introducing a new rewards account where you can passively earn Bitcoin by completing in-app bounties and making purchases with our partner merchants.
- You don’t have to worry about a thing - we will ensure your Bitcoin funds are kept safe and secure through-out the whole process.