FAQ

Why do I need Custody Service?

BANKEX Custody Service safeguards your crypto assets with multi-layer security, automated encryption modules, partitioned accounts, cold storage, and human verification of large withdrawals, while exchanges and wallets don’t. More than $1.1 billion in Bitcoin and Ether was stolen from crypto exchanges and wallets just in the first half of 2018.

To combat this, we have developed a geographically-distributed and internally-isolated solution that ensures 100% protection from hacking attacks and internal fraud. Your crypto assets are safe with us.

Do you accept clients from the US?

Of course! We accept clients from all over the world, subject to our KYC procedure.

Is Custody Service safe?

To keep your crypto assets safe, we have developed special cold storage technology that combines automated modules with secure offline hardware. The system is designed to protect you from external attacks, internal fraud, hardware loss, and forgotten passwords.

How much does the service cost?

We charge a fee of no more than 0.2% per month of the total amount of cryptocurrency stored. Fees can be paid in the corresponding cryptocurrency.

How does your storage work?

We use cold storage technology. Private keys are automatically generated, encrypted, and stored in offline hardware security modules. Multiple copies are maintained and all of them are protected by additional layers of cryptographic and physical security measures.

What additional services does BANKEX Custody offer?

Custody Service is a secure crypto depository, full stop. Safeguarding our clients’ crypto assets is our sole mission.

How do I make a deposit?

After undergoing KYC, send your crypto to the address specified on our website or mobile app.

IMPORTANT: We only provide this deposit address within our system. We do not disclose any deposit addresses over email. Please do not transfer your funds to any addresses you may receive over email, nor to any third-party websites.

How do I make a withdrawal?

You can make a withdrawal at any time by providing the required amount and a destination address. Once we verify your request, we will transfer the crypto to the provided address. Withdrawal can take up to 2 business days.

What type of digital currencies do you store?

Currently, we accept four cryptocurrencies: Bitcoin, Ethereum, Litecoin, and Bitcoin Cash, as well as BKX tokens.

Do you have any plan to accept more types of cryptocurrencies?

Yes, we do have the plan to diversify the types of coins and tokens that we accept, BKX token is one of them. We are working on a all-in-one storage solution.

Do you accept institutional clients?

Yes, we accept both institutions and individuals.