Are my funds protected?

Coinmetro offers multiple layers of proven protection for our users. Our currently offered account protection features at this time include:

1. Username and Password

2. IP Verification for new devices or IPs requires approval via email

3. 2-Factor Authentication (2FA) for logins, transactions, and password changes.

4. SMS Verification must be completed by all users before they can proceed with the KYC process
5. Device Authorization is a tool that enables you to see which devices are currently being used to access your Coinmetro account. 

In the unlikely event that your account is compromised and funds are lost due to a third-party gaining unauthorized access to your account, unfortunately, Coinmetro cannot cover any losses unless it is an incident for which Coinmetro is responsible.

If there is an incident for which Coinmetro is responsible, we would rectify this and any losses would be covered with treasury, reserves and operational capital.

The vast majority of client funds are kept in cold storage wallets, which are protected by multiple layers of offline security standards in the financial industry, all of which needs to be authorized in a short time span for any funds to be moved. Hot wallets contain only a small percentage of the funds.

In the crypto industry, due to how cold wallets are handled, hacks are generally targeted toward hot wallets, as there simply is no way to target cold wallets. Hot wallets can be affected due to system breaches for example. However, we also use the institutional standard for hot wallet fund storage, BitGo.