Digital Wallet Security

CoinZoom has chosen BitGo Trust Company to serve as our institutional qualified custodian and digital wallet security provider.

BitGo is the world leader in Digital Wallet security. A key factor in their selection was custodial assets held by BitGo Trust Company are insured for up to $100 million USD through Lloyd’s, the world’s specialist insurance and reinsurance market. Their services solve the most difficult security, compliance and custodial problems associated with blockchain- based currencies, enabling the integration of digital currency into the global financial system.

Digital Currency

CoinZoom prioritizes the security of our customer's funds, all digital currency that CoinZoom holds online is insured. If CoinZoom were to suffer a breach of its online storage, the insurance policy would pay out to cover any customer funds lost as a result. CoinZoom holds less than 2% of customer funds online. The rest is held in cold storage at one of our qualified custodians.

Please note that the insurance policy covers any losses resulting from a breach of CoinZoom;s physical security, cyber security, or by employee theft. This insurance policy does not cover any losses resulting from the compromise of your individual CoinZoom account. It is your responsibility to use a strong password and maintain control of all login credentials you use to access CoinZoom.

Digital currency is not legal tender, is not backed by the government, and digital currency accounts and value balances on CoinZoom are not subject to Federal Deposit Insurance Corporation or Securities Investor Protection Corporation protections.

Fiat Currency

U.S. Customers

CoinZoom stores all customer fiat currency (government- issued currency) in, custodial bank accounts. If you are a United States resident, your CoinZoom USD Wallet is covered by FDIC insurance, up to a maximum of $250,000.

Non-U.S. Customers

CoinZoom stores all customer fiat currency (government- issued currency) in segregated, custodial bank accounts.

Cash balances held in your CoinZoom accounts belong to you - not CoinZoom. Even if CoinZoom were to fail as a business, the funds held in the custodial bank accounts could not be claimed by CoinZoom or its creditors. The funds held in those accounts would be returnable to CoinZoom's customers.

Security

  • Bank Level Security
  • Two-factor authentications, multi-sig Wallets
  • Approximately 98% of customers digital currencies will be held in cold storage. Leaving just 2% of customers digital currencies in Hot or online storag
  • Our insurance policy includes coverage that will cover customer losses from any online breach
  • Secure state-of-the-art multi-sig, encryption & authentication, conforming to the most rigorous industry standards