Bit2Me Terms and Conditions
Cryptocurrency Balance
Bit2Me secures the client's digital currency through a combination of secure online servers and offline ("cold") storage. Bit2Me keeps 98% or more of the client's digital currency in cold storage, with the remainder on secure online servers as necessary to meet our clients' liquidity needs.
Bit2Me will maintain in the future a commercial crime insurance policy in an aggregate amount that is greater than the value of the digital currency we hold in online storage. Our insurance policy will be available through a combination of third-party insurance underwriters and Bit2Me, which is a co-insurer under the policy.
The policy will insure against the theft of digital currency that resulted from a security breach or hacking, employee theft, or fraudulent transfer.
Our policy does not cover any loss resulting from unauthorized access to your personal Bit2Me accounts. It is your responsibility to use a secure password and maintain control of all login credentials you use to access Bit2Me. Digital currency is not legal tender and is not backed by the government. Digital currencies, such as Bitcoin, Litecoin, and Ethereum, are not subject to the protections of the Deposit Guarantee Fund or the Securities Investor Protection Corporation.
Account Balance
The money in your Bit2Me account is deposited in a special account owned by PECUNIA CARDS EDE, S.L., opened at a credit institution, and is subject to the legal regime established in Royal Decree-Law 19/2018, of November 23 (and other development and/or complementary regulations), to which the protection measures detailed in article 21.1 a) of the said regulation are applicable. PECUNIA CARDS EDE, S.L. is an Electronic Money Entity supervised by the Bank of Spain. Therefore, it complies with all the quality requirements demanded by Spanish and European regulations to guarantee the security of your money.
Your money does not move. Unlike banks, we do not lend or invest your money. Therefore, no matter what happens, what you deposit in Bit2Me will be 100% available when you want to withdraw it.
Cash balances, such as euros, stored in Bit2Me are maintained as a balance in your Bit2Me account(s).
Client funds are held in cash in dedicated custodial accounts. All pooled custodial amounts are kept separate from Bit2Me's funds, and Bit2Me will not use these funds for its operating expenses or for any other corporate purpose.
Client funds held in cash are maintained in pooled custodial accounts at one or more FDIC-insured banks. Our custodial accounts have been established in such a way that FDIC transfer insurance can be accessed up to the current coverage limit per depositor (currently $250,000 per person). FDIC transfer insurance protects funds held on behalf of a Bit2Me client against the risk of loss in the event of the failure of an FDIC-insured bank where we maintain custodial accounts. FDIC insurance coverage depends on Bit2Me maintaining accurate records and on the determinations of the FDIC as receiver at the time of a custodial bank's failure.
Extra Security Layer 2FA
All Bit2Me clients have at their disposal protection through two-factor authentication (2FA). With the implementation of this protection, the client will be able to prevent unauthorized access to their user account in case their Bit2Me account access password is obtained by third parties.
The management of 2FA must be through the device that allows for greater security.
Authorized Connections
Bit2Me provides each client with a complete list of all the connections made to their Bit2Me user account over the last month.
Sessions store the browser, operating system, IP, and global geolocation of the session.
Bit2Me detects new connection devices, requesting express authorization from the client through an email that will be received in their email.
Encryption of Communications
All communications established between the client and Bit2Me are always established through end-to-end cryptographic encryption protocols (SSL).
Sensitive data
All sensitive data is encrypted with cryptography, with the aim of securely maintaining any type of sensitive data stored.
Real-time alerts
We send you instant alerts (via email or other means) every time there is access to your account or a withdrawal. This way, you can detect possible misuse of your account and temporarily block it to avoid future problems.
In each of the alerts, we will inform you of the most relevant details depending on the type of action with the aim of helping you improve detection.
Payment with cards
The storage of card numbers will be managed by PayNoPain Solutions, S.L., with VAT ID B12871216, in accordance with the conditions contracted between the User and Bit2Me, with the numbers being securely stored by PayNoPain Solutions, S.L., through its certification of compliance with the Payment Card Industry Data Security Standard (PCI DSS).
Bit2Me never stores the full details of your card, making it impossible for any Bit2Me employee to know the card number.
Furthermore, to prevent someone who gains access to your Bit2Me user account from making charges to your card, Bit2Me always carries out charges through a 3D Secure SMS verification system that will prevent any improper transaction.
All your transactions are processed and protected by Mastercard, Maestro, or Visa.
Monitoring of connections
We are using machine learning algorithms that analyze the behavior of account holders to detect suspicious transactions. If detected, we will freeze your account to protect your money.
Bit2Me uses specialized software for real-time monitoring of all connections made to its infrastructure.
We establish control policies that protect against denial of service (DDOS) attacks.
Although we are in favor of the use of networks like TOR and similar, as they protect the personal privacy of the client which is very positive, these connections have been blocked due to the numerous attack attempts through networks of this type.
Always at your disposal
Bit2Me is proud to have one of the best customer support services. You will always find us available to help you in the way that best suits you: phone, chat, video conference, tutorials, or email.
