We emphasize that safety and compliance are paramount at BCM. We maintain 1:1 customer funds, and all funds are fully covered. BCM has taken several measures, both visible and invisible, to minimize risks as much as possible. The main measures are outlined below:
The most important measure is our Third-Party Funds Foundation. With this foundation, customer funds, both fiat currency (Euros) and crypto, are separated from BCM's assets. Third-party money literally means money that belongs to others. Your Euro and crypto balances are managed in a separate foundation. In the unlikely event of bankruptcy, your balances are not accessible to BCM creditors. We do everything we can to keep your funds as safe as possible. Unfortunately, many crypto providers are not or only partially making use of this important safety measure.
BCM, under its statutory name Coin Meester B.V., is registered with The Dutch Bank (DNB). We are officially registered as a provider of crypto services. We also have an official registration for offering wallet storage. This means we must report annually to the Dutch regulator. BCM aims to lead the industry in terms of safety and compliance. We implement a strict policy to comply with the Anti-Money Laundering and Anti-Terrorist Financing Act (Wwft).
Another measure is our cold storage policy. The majority of all crypto is stored offline, so in the event of a hack, it's isolated from the internet. This way, hackers can't access it.
At BCM, you can earn extra income through on-chain staking. On-chain staking balances are covered by the Third-Party Funds Foundation Coin Meester, so you don't run the risk of losing funds.
Off-chain staking (also known as 'earn', but in fact the pledging of funds) via third parties has not been offered by BCM since June 2022, just before all withdrawals were suspended by Celsius. At the moment we only offer small rewards for holding crypto on our platform, but this is financed by BCM itself.
We want to emphasize that BCM currently has no funds pledged with third parties in any way. Transparency, reliability, and safety always guide BCM.
If you have any questions following this article, please feel free to contact us. At BCM, we are happy to help with all your crypto questions, and you will always get an answer in the shortest possible time. This can be done either by email at email@example.com or by phone at 085 007 6000 between 9:00 - 17:00 on weekdays.