What measures are in place to minimize the risk of hacking or vulnerabilities?
To minimize the risk of hacking or vulnerabilities, BananaCrystal employs several security measures. Firstly, funds are not held in custody by BananaCrystal; instead, they are stored in users’ crypto wallets. Additionally, funds are only temporarily loaded into the BananaCrystal’s dashboard before being transferred to the card. This manual loading process takes 12-24 hours, further reducing the exposure to potential security threats.
What happens to my funds if BananaCrystal gets liquidated? How do I know my funds are secure?
Rest assured, your funds remain safe even in the unlikely event of BananaCrystal’s liquidation. Once you complete the necessary KYC process and make the payment, an offshore bank account is opened under your name. Your assets are securely stored in this offshore bank account, providing an additional layer of protection. It’s important to note that there is a minimum load amount to qualify for different tiers. However, once you receive your debit card, you have the flexibility to withdraw or use the funds without any minimum holding requirement in the bank. This ensures that your funds are always within your control and accessible when needed.