We would like to emphasise that safety and compliance are paramount at BCM. We hold the funds of our clients on a 1:1 basis, meaning all client assets are completely covered. Furthermore, to limit the risks to the greatest extent possible, BCM has taken several measures, both visible and invisible. These measures are outlined below:
1. Stichting Derdengelden (Third Parties’ Account)
The most important measure is our stichting derdengelden. With the stichting derdengelden, client assets, in the form of both fiat money (euros) and crypto, are separated from BCM’s assets. Derdengeld literally means money that belongs to third parties, i.e. other people. The euro and crypto funds of our clients are managed in a separate foundation. In the unlikely event of bankruptcy, your assets are not accesible to creditors of BCM. This shows that we do everything we can to keep your assets as safe as possible. Unfortunately, many crypto providers do not yet, or only partly, use this important safety measure.
2. Registration at De Nederlandsche Bank
BCM is registered at De Nederlandsche Bank (DNB) under its statutory name Coin Meester B.V. We are officially registered as supplier of crypto services. We also have an official registration for the provision of storage wallets. This means that we are required to stand accountable to the Dutch supervisory authority on a yearly basis. Additionally, BCM wants to be an industry frontrunner in the area of safety and compliance. We maintain a strict policy to comply with the Money Laundering and Terrorist Financing (Prevention) Act (Wwft).
3. Cold storage policy
Another measure that we take is our cold storage policy. The large majority of all crypto is stored offline, meaning it is separated from the internet in case of a hack. This means that hackers can’t reach it.
4. Two factor authentication
You can also add some additional security to your account. If you haven’t done so yet, we strongly advise you to activate two factor authentication (2FA). 2FA guarantees that an extra step has to be taken at all times before one can log in to our platform. You can log in to your account with a password and a generated code. Should your password be stolen, it is not enough for a hacker to directly get into the account. The safest option is a code via an authentication application on your smartphone, such as Google Authenticator. That makes it virtually impossible to hack into an account.
This is how we make trading crypto safe and reliable for everybody!
