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Are your digital assets safe on Bitpanda?

As we saw above, where you store your digital assets really matters. If you choose to store your digital assets with Bitpanda, you can be assured that we place the protection of our customers at the forefront and recognize the inherent value of regulatory compliance. For nearly a decade, we have above all made a simple promise to our customers: you can trust us to protect your assets.

Bitpanda remains one of the safest and most regulated platforms in Europe and the Bitpanda Group strictly adheres to European laws and regulations. We operate our business on the basis of various VASP registrations as well as MiFID II, E-Money and PSD II licenses in all of our major markets.

Bitpanda Payments GmbH has a Payment Service Provider License under PSD2, recently became an Electronic Money Institute and Bitpanda Financial Services GmbH holds a MiFID II Investment Firm License with strict customer verification processes fully AML5 compliant . We also operate under the EU General Data Protection Regulation (GDPR) with strict security measures that meet high international security standards.

Quick tips to protect your crypto assets

Be careful: Unfortunately, we humans tend to be the weakest links in computer security. Being careful and using reliable sources and tools is your best bet when it comes to protecting your assets. Remember, if it sounds too good to be true, it probably is. Additionally, key assets of significant value should never be stored on a computer that could be compromised, so use all devices with caution.

Use safe online practices: Free Wi-Fi is great, but be careful before accessing a network you don’t know. Bad actors operate unmonitored networks, and websites can pose a serious risk to any active wallet you keep on your phone or computer. Check the validity of the network before signing up to protect your funds and never leave your devices unattended or lend them to anyone. Also, make sure to remove all funds from the wallets stored on your devices before having them repaired.

Buy hardware from official sources: It is important to always buy your crypto hardware device from an official hardware vendor, e.g. Ledger, Trezor, etc. This will provide assurance that the device has not been tampered with. If you choose to store your crypto on a cold wallet, you are responsible for protecting your assets, so minimize risk exposure and buy official products from trusted sources.

Keep your software up to date: It is essential to run software updates as soon as they are available. Malware often exploits weaknesses in older versions of software and operating systems, so make updating your software a habit.

Add two-factor authentication (2FA) for extra protection: 2FA technology provides an inexpensive and easy-to-implement layer of security for any online service that involves managing your cryptocurrencies. Installing an authenticator app on your device and enabling 2FA for services or apps means that you will be asked to enter a six-digit code in addition to your password each time you log in. This adds an extra hurdle for any bad actors looking to exploit your account. It’s a small step, but it makes a huge difference.

Finding a reliable platform to buy and sell cryptocurrencies: Choosing a reputable trading platform can be a bit tricky, but there are a few key indicators that can help you determine the most suitable platform for you. Whichever you choose, it is important that the platform is experienced and operates in a safe and regulated environment. They must be able to demonstrate sufficient liquidity and use the latest security technologies while providing an intuitive and easy to use interface.

At Bitpanda, we provide a fast, secure and convenient platform for buying and selling digital assets. We support a wide range of fiat currencies and our platform lists various cryptocurrencies, commodities, metals, stocks and ETFs. The safety of our customers and their assets is our top priority. To learn more about what we’re doing to stay fully regulated and compliant, visit our security hub at Bitpanda.

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