Introducing the Bitvavo Account Guarantee

Introducing the Bitvavo Account Guarantee


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The security of your assets is Bitvavo’s highest priority, and as a company we’ve established a robust asset safekeeping protocol. For example, Bitvavo is storing most of our users’ assets at insured custody providers who are specialized in storing digital currencies in a safe environment and are insured up to an amount of 255 million EUR to mitigate potential risks as much as possible.

However, to take the security of our users’ assets to the next level, we are introducing the Bitvavo Account Guarantee. In essence, should someone gain unauthorized access to your Bitvavo account and misappropriate funds, you may now be eligible for a reimbursement of up to 100.000 EUR.

The full and binding terms can be found in our User Agreement document available here. However, for clarity, here is a summary of what’s covered, what’s not, and the procedure to participate in the Account Guarantee program.

How it works

Eligibility - In order to be eligible you must have completed all the KYC steps that we've asked of you and be eligible to trade. In addition, your account must be open for at least 30 days after you are eligible to trade. You are only eligible for a reimbursement once, and subsequent unauthorized activity is not covered. As mentioned, refer to the User Agreement for the full eligibility criteria.

Unauthorized activity - Someone gained unauthorized access to your Bitvavo account and withdrew your funds without your permission or participation. Examples of what is and isn’t considered unauthorized activity are available below.

Get in touch - Contact our support team to lock your account, let us know what happened, and provide us with as much detail as you can. A police report needs to be submitted with your request.

Get reimbursed - We will investigate your case and reimburse you up to 100.000 EUR should we find evidence of unauthorized activity, and once we’ve confirmed you are eligible for the Bitvavo Account Guarantee.

What is covered under the Account Guarantee

Unauthorized withdrawal of crypto - Someone gains unauthorized access to your account and withdraws your crypto to another wallet.

Unauthorized withdrawal of EUR - Someone gains unauthorized access to your account and initiates a fiat withdrawal to a bank account or online account.

For example, if you are caught by a sim swap attack and an unauthorized third party manages to access and withdraw funds from your account, you may be eligible.

What is NOT covered under the Account Guarantee

Please note that these examples are only indicative and not exhaustive:

  • Incorrect transactions - You sent crypto using the wrong email address or public key and can't recover your funds. Unfortunately, blockchain transactions are irreversible. This isn’t covered as there was no unauthorized access to your account.
  • Buying, selling or sending crypto - The guarantee only covers unauthorized activity. If you buy, sell, convert, or send crypto using your account and then you regret it, we can’t reverse your transaction or cover losses. For example: you are convinced by a fraudster to send funds to them.
  • Loss of profits - To be eligible for reimbursement, funds have to have left your account. For example: Hackers access your account and convert your BTC into ETH, which subsequently drops in value, but those hackers were not able to withdraw your funds from your account.

Use crypto with confidence

Our goal is to make it as easy and safe as possible for you to access digital assets always and everywhere. Our guarantee is not a regulatory requirement and is not part of the EU deposit guarantee Schemes. The Bitvavo Account Guarantee is also not an insurance policy. As the only digital asset exchange offering users reimbursements of up to 100.000 EUR, we're proud to lead the way in security and user-friendliness.


How long does it take to be reimbursed?

We evaluate each case individually and can't promise reimbursements within a specified time frame. Straight-forward cases are easier to investigate and will therefore receive reimbursements more quickly than complex cases.

Is the Bitvavo Account Guarantee a regulatory requirement?

No, Bitvavo is launching this pilot voluntarily to provide an unparalleled level of protection to Bitvavo users. We withhold the right to end or continue the pilot as we see fit.

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