Bitstamp deposit insurance ?
How secure is my money on bitstamp? I know you have an official Banking license, but in case the whole crypto market goes bust I feel very uncomfortable having my money on a bitcoin exchange.
Are my funds save? I didn’t find anything on the FAQ’s regarding that issue.
I know you shouldn’t went insolvent since you’re only keeping client’s funds and charge fees, but an official statement with legal insurance would be very appreciated.
I’m seriously considering moving my deposit to an FX broker like IG Markets which isn’t a player in cryptospace but wouldn’t for sure run with my money in case anything happens.
Thanks in advance
Bitstamp is a platform that allows users to trade in a safe environment and is not a bank, therefore your deposits are in fact not with Bitstamp but with the bank(s) in which your deposits are stored. As for crypto, Bitstamp employs best practices in terms of security by utilizing advanced security technologies. We have implemented the Multi-Sig technology to our hot wallet, where we keep only a very small portion of bitcoins (around 2%), while the majority of them is safely stored offline, in cold storage systems. You may rest assured Bitstamp places a great emphasis on security of our users’ accounts, personal information and balances, as well as our system in general. In case of any additional concerns you can always contact us via our support ticket system or send me a PM.