Bitwala's technological infrastructure is subject to frequent stress-testing to ensure the highest levels of security for our users. Not only do we maintain our own systems with the utmost caution, but our product is also designed to protect users data and funds alike.
Accounts and Authentication
- Bitwala uses a state of the art accounts system. Users are required to set a strong password and can enable Two-Factor-Authentication (2FA)
- You need to enter a mTan code that is sent to your registered mobile number to execute a fiat transfer and to change account information, such as your registered mobile number
- You need to use your wallet password (different to your account password) to confirm cryptocurrency transactions
Your cryptocurrency funds
- You own your private keys meaning that Bitwala never has access to your cryptocurrency. Our multi-signature setup was chosen specifically for security and usability.
Your fiat funds
- Bitwala is obliged to provide a very high level of security. Your deposits on the bank account are guaranteed up to €100,000 by the Compensation Scheme of German Banks (EdB). Virtual currencies are not included in the compensation scheme.
European Data Protection Standards
- Our databases and services are hosted in Germany. All of our service providers are compliant with the General Data Protection Regulation (GDPR) and the Federal Data Protection Act (Bundesdatenschutzgesetz). To learn more about the GDPR, take a look at this page.
- Bitwala has a designated Data Protection Officer (DPO) who ensures that Bitwala follows the best standards.
