All Collections
User account and Security
How safe are my funds with Cryptopay?
How safe are my funds with Cryptopay?
Konstantin avatar
Written by Konstantin
Updated over a week ago

The popularity and spread of cryptocurrency have grown a lot in the last few years. Unfortunately, it has attracted not only law-abiding fellow customers but lots of fraudsters and hackers as well. Cryptocurrencies are especially appealing to them, as all transfers are final, irreversible, and anonymous.

Also, lots of cryptocurrency enthusiasts lost their funds because of their accounts being hacked. Often it was caused by the neglection of the services they used and lack of security.

But we are not among such services. We have the most serious approach to storing your data and funds, and we take the best measures possible. We use both hot and cold vaults and the MultiSig technology; we also carry out vulnerability tests, and of course, we take harsh measures to combat fraud.

So, when it comes to cryptocurrency storage, we use the following methods:

  • Hot wallet – an online wallet which is always connected to the Internet, and can only be accessed online.

  • Cold wallet — an offline wallet; the cryptocurrency stored there is not present on the web server or any other online computer.

  • MultiSig technology – we use it to sign cryptocurrency transfers. Instead of the traditional private key – the public key pair uses keychains (sequences of multiple keys). Because of the spread of phishing and different social engineering techniques, wallets which use a traditional key pair are much more vulnerable than the MultiSig ones.

If anyone tries to brute force your account (guess your password), they won’t succeed – after several failed password entry attempts, the account will be automatically locked. If your account was locked because of such attempts, please contact our support team.

Even if someone manages to guess your password, they won’t be able to enter your account without having access to your email, as all new devices and IP addresses need to be confirmed with a one-time link we send you. Still, we strongly recommend you use Two-factor authentication (2FA) – in your iOS or Android app. With 2FA, you need to enter an OTP generated by the app every time you log in or make a transaction.

By the way, if you don’t click any buttons in 10-15 minutes, you will be logged out automatically – handy, in case you leave your device unattended.

So, we’ve taken all the measures possible for you to be sure that your Cryptopay account is safe.

But please, don’t forget that your safety depends on how careful you are, too.

You may stumble upon so-called phishing websites (copies of our website which will use your login and password for fraudulent purposes) or other fraudsters who pretend to be us. We only use these means to contact you:

If anyone contacts you by other means and claims to be a Cryptopay employee, please do not trust them and contact us immediately.

Be extra careful with any CFD or Forex services. Lots of such services turn out to be fraudulent. If such a service insists on creating a Cryptopay account or promises too-good-to-be-true profits, please refrain from using it. Even if it looks reliable, don’t forget to look for its clients’ feedback and check it with the FCA ScamSmart tool. And please, always take into consideration the fact that all cryptocurrency transactions are final; it would be impossible to cancel them or return the money if anything goes wrong, so never invest more than you can afford to lose.

And of course, if you have any questions or if you need any security advice, please feel free to contact us in the live chat or at!

Did this answer your question?