GunBroker has ended the contract with BitRail as of May 4, 2023. After that date, BitRail will no longer be offered as a payment option on the GunBroker.com site.What does this mean for me?Users may still log in to their wallet and access their Freed

<div>GunBroker has ended the contract with BitRail as of May 4, 2023. After that date, BitRail will no longer be offered as a payment option on the GunBroker.com site. What does this mean for me? Users may still log in to their wallet and access their FreedomCoin funds as needed, just as before. You can log in to access your wallet at <a data-saferedirecturl="https://www.google.com/url?q=https://app.bitrail.io&amp;source=gmail&amp;ust=1683209075136000&amp;usg=AOvVaw27c_m-dJkzDJbwZW6W74Iq" href="https://app.bitrail.io/" rel="noopener noreferrer" target="_blank">https://app.bitrail.io</a>&#xA0;. You may keep your funds in your BitRail account for use with upcoming BitRail offerings, or you may withdraw them at any time. Are my funds safe? Completely. BitRail operates on a different model than the traditional crypto markets to ensure the safety of your FreedomCoin funds; they are fully backed by money in a real bank account, and are not subject to market fluctuations. 100% of your funds are still available to you. What happens to BitRail and FreedomCoin now? BitRail will be launching on other platforms over the coming weeks/months, offering FreedomCoin as well as new digital tokens. These digital tokens provide discounts, loyalty benefits, and fast, safe payments to more markets and more customers. Keep an eye out for new developments soon!</div>
<div>&#xA0;</div>

GunBroker has ended the contract with BitRail as of May 4th, 2023.

Beginning January 1, 2022, the Internal Revenue Service (IRS) implemented new reporting requirements for certain payments received for goods and services made through Third-Party Settlement Organizations (TPSOs), Like BitRail. Previously, we did not

Beginning January 1, 2022, the Internal Revenue Service (IRS) implemented new reporting requirements for certain payments received for goods and services made through Third-Party Settlement Organizations (TPSOs), Like BitRail. Previously, we did not need to report transactions to the IRS until a user reached a threshold of $20,000 and 200 transactions in a single calendar year. The new reporting requirements lowered the reporting threshold to $600 in gross payment transactions for goods and services starting with the 2022 calendar year.&#xA0;
<ul>
<li>This new threshold change is only for payments received for goods and services transactions.&#xA0;</li>
<li>This change was introduced in the American Rescue Plan Act of 2021, which amended some sections of the Internal Revenue Code to require Third-Party Settlement Organizations (TPSOs), like BitRail, to report goods and services payment transactions received by payees with $600 or more in annual gross payments on 1099-K forms for calendar year 2022.</li>
</ul>
Due to this new IRS tax reporting requirement, your BitRail dashboard may display a message &quot;Please provide your SSN...&quot; or similar message.
Enter the required information and click &quot;Update Profile&quot; to save your SSN or EIN number as requested.&#xA0;
<h3 id="important-users-with-no-ssn-or-ein-on-file-may-lose-the-ability-to-receive-or-withdraw-funds">IMPORTANT: users with no SSN or EIN on file may lose the ability to receive or withdraw funds.</h3>
As of April-04, 2022, BitRail will require a SSN for individual accounts or an EIN for business accounts upon signup for a new account, or login to an existing account.
&#xA0;
<h4 id="learn-more">LEARN MORE:&#xA0;</h4>
<a href="/hc/en-us/articles/4954927586829" rel="noopener noreferrer" target="_parent">Will BitRail report my business sales to the IRS?</a>
1099K instructions on the IRS website: <a href="https://www.irs.gov/pub/irs-pdf/i1099k.pdf" rel="noopener noreferrer" target="_blank">Instructions for Form 1099-K</a>
&#xA0;
We&#x2019;re here to help. If you have any questions or concerns regarding this change or your BitRail account, open a support ticket or send an email to our <a href="mailto:support@gunbrokerpay.com?subject=GunBroker%20Pay%20Tax%20Reporting%20Requirements%20Question" rel="noopener noreferrer" target="_blank">Customer Support</a>.

New U.S. Tax Reporting Requirements for Tax Year 2022 Form 1099-K

We have listened to our users' feedback and made important improvements to your BitRail wallet. Starting April 04, 2022, BitRail is moving to a fully FreedomCoin-based digital payment system powered by BitRail. This means that you will see only one a

We have listened to our users&apos; feedback and made important improvements to your BitRail wallet.&#xA0;Starting April 04, 2022, BitRail is moving to a fully FreedomCoin-based digital payment system powered by BitRail. This means that you will see only one account called &quot;FreedomCoin Account&quot; in your BitRail wallet. There will no longer be a separate &quot;USD Account&quot; section in your BitRail dashboard. <h4 id="this-change-brings-several-benefits-to-our-users">This change brings several benefits to our users:</h4><ul><li>It will simplify your BitRail dashboard to one account called &quot;FreedomCoin&quot; which makes the user interface easier to use.</li><li>There is no longer a need to transfer funds between your USD and FreedomCoin accounts. This means that you can transact faster when you buy and sell with FreedomCoin.</li><li>This will enable FreedomCoin to continue offering the great low transaction fee that you are enjoying today, and keep more of what you make, for each transaction paid with BitRail.</li></ul><h4 id="is-my-account-balance-or-funds-impacted">Is my account balance or funds impacted?&#xA0;</h4><ul><li>No. Your overall FreedomCoin balance will remain unchanged.</li><li style="font-weight: 400;">Any existing USD funds you may have will be automatically exchanged to FreedomCoin</li><li>One USD in your FreedomCoin wallet corresponds to one FreedomCoin, so you will see no change in the total account value. &#xA0;</li><li>Any funds that you may have in your USD account at the time of this change, will be automatically transferred, in full, to your FreedomCoin account.&#xA0;</li></ul><h4 id="do-i-need-to-do-something">Do I need to do something?&#xA0;</h4><ul><li>No. There is nothing you need to do.</li><li>All your FreedomCoin account features will continue to operate the same way as before this change.</li><li>BitRail purchases are made in FreedomCoins and they will be automatically exchanged with USD at the time of the transaction.</li></ul><h4 id="how-will-the-transactions-work-after-the-change">How will the transactions work after the change?&#xA0;</h4><ul><li>BitRail transactions continue to be easy to use and we will do the hard lifting for you.&#xA0;</li><li>Likewise, any transfers you will make in/out of your BitRail wallet will be denominated in FreedomCoin, but will be exchanged for USD when they are sent to/from your bank.</li></ul>&#xA0;We&#x2019;re here to help. If you have any questions or concerns regarding this change or your FreedomCoin account, open a support ticket or send an email to our <a href="mailto:support@gunbrokerpay.com?subject=GunBroker%20Pay%20USD%20Account%20Change%20Question" rel="noopener noreferrer" target="_blank">Customer Support</a>.&#xA0;

Where is my BitRail USD Account?

Unfortunately, GunBroker.com and BitRail currently do not have a contract to provide payment services at this time.We realize that many of you have enjoyed the efficiency and speed of FreedomCoin and the BitRail platform. We remain hopeful that GunBr

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