Security at Bitcoin Suisse

Within the crypto community, the mantra "Not your keys, not your coins" embodies the widely accepted belief that the optimal protection for crypto assets is achieved through self-custody, wherein the owner personally maintains control of the private keys.

However, dealing with the intricate technicalities and associated risks, including the potential loss of keys and consequently losing access to the underlying crypto assets, can discourage many investors. Here is the good news: Sacrificing convenience for security is not necessary – you can delegate the management of your cryptographic keys to a trusted intermediary such as Bitcoin Suisse.

Our custody solutions are first-class, proven by an excellent track record and audited to the highest relevant security standards. At Bitcoin Suisse, we cater to your needs. Choose between our highly secure cold storage solution – the Bitcoin Suisse Vault – or accessible custody accounts, perfect for trading, staking, and more. Regardless of your choice, your cryptocurrencies are generally kept in separate blockchain addresses.

Why does this matter? Switzerland offers major locational advantage for crypto asset storage in favor of the rightful owner, essentially holding the principle: “Not your keys, still your coins”. Beyond this, Bitcoin Suisse adds an extra layer of security through unparalleled bankruptcy protection for all crypto assets deemed public deposits.

Our technological excellence, the Swiss incorporation, and robust bankruptcy safeguards establish Bitcoin Suisse as an undefeated market leader in crypto custody. Your security is our utmost priority, a commitment we uphold. Keep reading to learn why.

Crypto custody in Switzerland – Embracing the locational edge.

Navigating the legal terrain surrounding the storage of crypto assets presents uncertainty across many jurisdictions, particularly in the event of a custodian’s default. The Swiss parliament recognized this challenge early on and took proactive measures already in 2019, amending the law to ensure that clients of Swiss crypto custodians retain their ownership rights in case their crypto assets are held in separated custody. This legal safeguard is encapsulated in the maxim "Not your keys, still your coins," and firmly underscores Switzerland's locational advantage.

We believe it is fair to say that Switzerland emerges as one of the safest jurisdictions for the storage of crypto assets, and within Switzerland, no other crypto company has a longer track record than Bitcoin Suisse.

Custody at Bitcoin Suisse - Unmatched bankruptcy protection.

When it comes to selecting a financial custodian, understanding how your assets will be safeguarded in case of the custodian’s default is paramount. This consideration can vary across jurisdictions and, naturally, among financial service providers. Prior to committing, it is prudent to conduct thorough research and comparisons.

Our approach to custody ensures the utmost protection for our clients, even in the event of Bitcoin Suisse facing bankruptcy. Your assets remain segregated and are therefore transferred back to you in the event of bankruptcy.

For operational, technical, or client-specific reasons, certain crypto assets may be held in collective custody, hence, not on separated blockchain addresses. However, these assets are also fully protected by a default guarantee from a Swiss Bank as they are considered public deposits under Swiss banking laws.

Bitcoin Suisse Vault – Cold storage for peace-of-mind custody.

The Bitcoin Suisse Vault is the institutional-grade high-security Swiss crypto custody solution built on our long-standing expertise. Since 2019, the Bitcoin Suisse Vault is ISAE 3402-Type 2 audited by PwC, Grant Thornton and Zühlke and penetration-tested by Compass Security (globally active IT security company).

All related hardware is managed in-house, and all data is securely stored and handled in Switzerland. Transaction authorizations are enforced by customized multi-person approval workflows. Alongside tailor-made approval procedures that can be accommodated upon request, Bitcoin Suisse collaborates with Swiss public notaries to facilitate succession and inheritance planning in an individually controlled setup. This effectively prevents the loss of crypto assets in case the owner deceases.

The permanent assignment of separated blockchain addresses to clients with a Bitcoin Suisse Vault Account is comparable to the security offered by the safe of a bank. It ensures that the crypto assets can be clearly assigned to their rightful owner at any time. In addition, cold storage adds an extra layer of protection against potential cyber threats. But there is more: For certain steps, dedicated manual security checks ensure an additional layer of protection – this is why it is safe to say that storage in the Bitcoin Suisse Vault is in fact “ice-cold” storage.

Storage on Bitcoin Suisse Online accounts – Secure and fast.

Are you looking for the security of separated blockchain addresses and at the same time for fast transactions and more flexible connections to third parties, such as exchanges and OTC partners? Our Bitcoin Suisse Online Account is the optimal solution.

Your crypto assets are held on separated blockchain addresses, which assign them directly to you as the rightful owner. Nevertheless, you can directly trade 24x7 via Bitcoin Suisse Online or our Mobile App or via your Relationship Manager during our opening hours.

Trading with Bitcoin Suisse – Highest security through best execution and prefunded trades.

As one of the first crypto brokers, Bitcoin Suisse has introduced a Best Execution Policy. This policy outlines our dedication to securing the most attainable price and speed of execution for our clients, all while ensuring comprehensive transparency on price details, trading fees, and execution venue.

Beyond our Best Execution approach, Bitcoin Suisse goes the extra mile by assuming the counterparty risk when you trade with us. This is an essential step, as crypto trading venues require pre-funding.

Bitcoin Suisse applies the highest physical, technical, and procedural security standards for the safekeeping of your user account, in line with industry best practice.

Strengthening account security with Two-Factor Authentication (2FA)

Your account's safety is of utmost importance to us. To enhance security, we implement time-based two-factor authentication using mobile applications like Authy. In addition to your login credentials, you enter a code from your authenticator app on your mobile phone, which provides an additional layer of security for your account at Bitcoin Suisse.

Double layer protection for account withdrawals

All account withdrawals require entering two-factor authentication along with email address confirmation, ensuring utmost security and peace of mind for your trans-actions.

Bitcoin Suisse implemented all reasonable technical and organizational measures to prevent manipulation, loss, or unauthorized access by third parties, in line with industry best practice. Our commitment includes our employees and service providers, who are obliged to maintain confidentiality to comply with the applicable data protection laws.

Bitcoin Suisse was founded in 2013 and is a pioneer of the Swiss crypto finance- and technology industry. The crypto-financial services provider offers brokerage, custody, lending, staking, payment solutions and other crypto-related services for private and institutional clients. Bitcoin Suisse has helped to shape the crypto- and blockchain ecosystem in Switzerland and has been a driving force in the development of the “Crypto Valley” and the “Crypto Nation Switzerland”.

The company is headquartered in Zug and has built a team of 200+ highly qualified experts in Switzerland and Europe.

Bitcoin Suisse is a member of the self-regulatory organization (SRO) “Verein zur Qualitätssicherung von Finanzdienstleistungen” (VQF) since 2014 and thus subject to Swiss AML/CFT regulations.

Since 2017, Grant Thornton has been acting as the statutory auditor for Bitcoin Suisse.