At FundBit, we are deeply committed to protecting your privacy and the security of your personal information. This Privacy Policy explains how FundBit (“we,” “us,” or “our”) collects, uses, discloses, and protects your information when you use our mobile application, website, and any related services (collectively, the “Services”). By accessing or using our Services, you agree to the collection and use of your information in accordance with this policy.

Information We Collect

We collect various types of information to provide and improve our Services to you.

Account Registration & KYC: When you create a FundBit account, we collect personal details like your full name, email address, phone number, date of birth, and copies of government-issued identification (e.g., National Identity Number (NIN), Bank Verification Number (BVN), Driver’s License, International Passport) to fulfill our Know Your Customer (KYC) and Anti-Money Laundering (AML) obligations.

Financial Information: This includes bank account details (for fiat deposits and withdrawals) and cryptocurrency wallet addresses for processing transactions.

Transaction Data: Details of your activities on the platform, such as cryptocurrency trades (buy/sell), bill payments (mobile airtime, internet data, electricity, cable TV), gift card purchases, and Peer-to-Peer (P2P) trading records.

Communications: Any information you provide when you contact our customer support, participate in surveys, or interact with us via other channels.

Device Information: We collect information about the device you use to access our Services, including your device type, operating system, unique device identifiers, and mobile network information.

Usage Data: This includes your IP address, browser type, pages viewed, features used within the app/website, access times, and referral URLs. This helps us understand how you interact with our Services.

Location Information: With your permission, we may collect general or precise location data to enhance security, prevent fraud, or offer location-specific services.

We may also receive information about you from third-party service providers, such as identity verification services, fraud prevention agencies, and financial institutions, to help us verify your identity and ensure the security of our platform.

How We Use Your Information

We use the information we collect for various purposes to provide, maintain, and improve our Services, and to ensure a secure and compliant platform.

To Provide and Maintain Our Services

• To create, manage, and verify your FundBit account.

• To process and complete all your transactions, including cryptocurrency trades, bill payments, gift card purchases, and P2P transfers.

• To provide efficient customer support and respond to your inquiries.

• To facilitate secure and seamless coin swaps.

For Security and Fraud Prevention

• To perform mandatory identity verification (KYC/AML) to comply with regulatory requirements.

• To detect, prevent, and investigate fraudulent or unauthorized activities.

• To enhance the overall security and integrity of our platform and protect your assets.

To Improve Our Services

• To analyze usage trends and patterns to understand user needs and enhance existing features.

• To develop new products, features, and functionalities based on user behavior and market demands.

• To troubleshoot and fix any technical errors or issues within the app and website.

For Communication

• To send you essential transactional notifications, such as trade confirmations, payment receipts, and security alerts.

• To provide updates about our Services, changes to our terms, or important security information.

• With your explicit consent, we may send you marketing and promotional communications about FundBit’s new features, products, or special offers.

For Legal and Regulatory Compliance

• To comply with applicable laws, regulations, and governmental requests, including anti-money laundering and tax laws.

• To enforce our Terms of Use and other policies.

• To protect our rights, property, and safety, as well as the rights, property, and safety of our users or the public.

How We Share Your Information

We may share your information with third parties only in specific circumstances and as described in this Privacy Policy.

With Service Providers: We engage trusted third-party service providers who assist us in operating our business and providing the Services. These may include providers for identity verification, cloud hosting, data analytics, payment processing, customer support, and cybersecurity. These providers are contractually obligated to protect your information and use it only for the purposes for which it was disclosed.

For Legal Reasons: We may disclose your information if required by law, court order, or governmental regulation, or if we believe such action is necessary to comply with a legal obligation, protect our rights, property, or safety, or the rights, property, or safety of others.

In Case of Business Transfer: In the event of a merger, acquisition, asset sale, or similar corporate transaction, your personal information may be transferred to the acquiring entity. We will notify you of any such transfer and changes to the Privacy Policy.

With Your Consent: We may share your information with third parties when you provide us with explicit consent to do so for a specific purpose.

Aggregated or Anonymized Data: We may share aggregated or anonymized data (data that cannot be used to identify you) with third parties for research, analytics, or marketing purposes.

Your Choices and Rights

We respect your privacy rights and provide you with choices regarding the information we collect and how it is used.

Access and Correction: You can access and update most of your personal information directly within your FundBit account settings. For information you cannot access or modify yourself, please contact our support team.

Marketing Communications: You can opt-out of receiving marketing and promotional emails from us by following the unsubscribe instructions included in those emails or by adjusting your notification settings in the app. Even if you opt out, we may still send you non-promotional communications, such as security alerts and transactional messages.

Data Retention: We retain your personal information for as long as necessary to fulfill the purposes for which it was collected, comply with legal obligations (e.g., AML laws require us to retain certain transaction data for [X years]), resolve disputes, and enforce our agreements.

Account Closure: If you choose to close your account, we will retain certain information for a period as required by law or for legitimate business purposes (e.g., fraud prevention, auditing, and regulatory compliance).

Your Specific Rights (based on applicable laws): Depending on your location and applicable data protection laws (e.g., Nigeria Data Protection Act, GDPR, CCPA), you may have additional rights concerning your personal data, including the right to:

• Be informed about our data practices

• Request access to your personal data

• Request correction of inaccurate data

• Request erasure of your personal data (“right to be forgotten”)

• Request restriction of processing your personal data

• Object to the processing of your personal data

• Request data portability

• Complain to a supervisory authority

Please contact us using the details below to exercise any of these rights.

Data Security

We implement robust security measures to protect your personal information from unauthorized access, alteration, disclosure, or destruction. These measures include:

• Encryption: Using industry-standard encryption for data in transit and at rest

• Access Controls: Restricting access to your personal information to authorized FundBit employees and service providers on a need-to-know basis

• Secure Servers: Storing data on secure servers with robust firewall protection

• Regular Audits: Conducting regular security audits and vulnerability assessments

• KYC/AML Procedures: Implementing strict Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures to enhance security and regulatory compliance

While we strive to use commercially acceptable means to protect your personal information, no method of transmission over the Internet or method of electronic storage is 100% secure. Therefore, we cannot guarantee its absolute security.

International Data Transfers

As a global financial technology company, FundBit may store and process your information in servers located in various jurisdictions, including outside of Nigeria. When we transfer your personal information across borders, we take steps to ensure that your data is protected in accordance with this Privacy Policy and applicable laws. This may include reliance on standard contractual clauses, your consent, or other legal mechanisms.

Children’s Privacy

Our Services are not intended for individuals under the age of 18. We do not knowingly collect personal information from children under 18. If we become aware that a child under 18 has provided us with personal information, we will take steps to delete such information from our files.

Changes to This Privacy Policy

We may update this Privacy Policy from time to time to reflect changes in our practices or for other operational, legal, or regulatory reasons. We will notify you of any material changes by posting the new Privacy Policy on this page and updating the “Effective Date” at the top. We may also notify you via email or through prominent notices within the app prior to the change becoming effective. We encourage you to review this Privacy Policy periodically for any changes.

Contact Us

If you have any questions or concerns about this Privacy Policy or our data practices, please contact us at support@fundbit.com

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