When you visit our site www.litebit.eu and/or use our mobile
applications, 2525 Ventures B.V.
(''LiteBit'') processes personal data of its visitors.
LiteBit values your privacy and ensures due care with regard to the processing and protecting of
During the processing of your personal data, we adhere to the requirements of relevant
privacy legislation, including (from 25 May 2018 onwards) the General Data Protection Regulation
(GDPR). In this Privacy Statement (the
''Statement''), we explain what types of personal data we collect, why
we collect such data, how we deal with personal data and what rights you have. Due to the innovative
nature of digital currency and the crypto environment in general, the services that we provide
through our website and the website's functions may change over time. Therefore, it is advisable
to revisit this Statement from time to time.
This Privacy Statement was last amended on October 8th 2019.
USE OF PERSONAL DATA
- By using our website and its functionalities, the following (categories
of) personal data may be processed for the purposes as mentioned in this Statement:
- Country of residence;
- Telephone number;
- E-mail address;
- Login details;
- Cryptocurrency (wallet) address;
- Verification documents;
- Client ID;
- Transaction information;
- Other information that you voluntarily share with us.
- These categories of personal data include information that you provide
to us, or information that our website and other systems collect about you.
PURPOSES OF THE PROCESSING OF PERSONAL DATA
- By using our website and the website's functionalities the
abovementioned categories of personal data may be processed. We may use your personal data if we
have your consent or another legally permitted reason applies. These include to fulfil a
contract with you, when we have a legal duty to comply with, or when it is in our legitimate
business interest to use your personal data. We can only rely on our legitimate business
interest, if it is fair and reasonable to do so. We may process your personal data for the
- Creating an account
Via our website you can create an account on our
online platform. This account allows you to buy, sell and store cryptocurrencies (in your
Wallet). To create an account, we will ask you to fill in your name, e-mail address, password
and country of residence. In the event of suspicion of fraud or misuse of our website we may
hand over personal data to the entitled authorities. When creating an account, we process your
personal data for the performance of your agreement with LiteBit.
- Buying and/or selling Cryptocurrencies
Via our website you can buy
and sell cryptocurrencies. To do so you need to log in to your online account using your e-mail
address and password. After the verification of your payment method you are asked to fill in the
address of your (cryptocurrency) wallet. In some cases, while buying and/or selling
cryptocurrencies you may be asked to proceed to the verification procedure as part of our
security measures. When buying and/or selling cryptocurrencies we process your personal data for
the performance of your agreement with LiteBit.
- Verification procedure
At LiteBit we have a verification procedure in
place as part of our security measures for buying and/or selling cryptocurrencies. Depending on
the specific amount of the transaction or the amount of the overall daily/weekly/monthly
transactions, you will have to provide certain information as part of the verification
procedure. The process is divided into two tiers (depending on the exact amount of the
transaction). For tier one we will need your name, email address and telephone number to send
you a text message. In Tier two you will need to provide us with a copy of your passport or
ID-card and address details. If deemed necessary you need to provide us with more verification
documents. When proceeding through the verification procedure we process your personal data for
the performance of your agreement with LiteBit.
- Setting price alerts
At LiteBit you can set a price alert to be
notified when the price for a specific coin reaches a set threshold. We will send this
notification to the e-mail address that you provide. When setting price alerts, we process your
personal data with your consent, which can be withdrawn at any time.
- Contacting LiteBit
If you have any questions relating to for
instance an order or cryptocurrencies in general, you can either call, email or chat with us.
You can also contact us via our social media channels or by filling in our contact form. To
answer a question that is sent via the contact form, we will process your name and e-mail
address. When contacting LiteBit we process your personal data on account of a legitimate
- Receiving our newsletter
We have a newsletter to inform those
interested about our services. You can ask to receive the newsletters by clicking the newsletter
checkbox in your online account. To receive our newsletter, we process your personal data with
your consent, which can be withdrawn at any time by opting out from receiving future marketing
communications through an opt-out button included in each communication.
- Other uses
We may further use your information for the following
- To operate, manage, develop and promote our business and, in particular,
our relationship with the organisation you represent (if any) and related transactions –
this includes, for example, marketing and billing/ payment purposes;
- LiteBit has a legal obligation to know who our Customers are in
accordance with Know Your Customer (KYC) regulations. LiteBit has contracted specialized parties
to do parts of this KYC onboarding process for LiteBit. Personal data can be shared with these
parties for meeting the KYC regulations;
- To operate, administer and improve our website and premises and other
aspects of the way in which we conduct our operations;
- To protect our business from fraud, money-laundering, breach of
confidence, theft of proprietary materials and other financial or business crimes; and
- To comply with our legal and regulatory obligations and file and
defend legal claims.
When processing your personal information for these purposes, we process your
personal data on account of a legitimate business interest.
- We may from time to time review information about you held in our
systems – including the contents of and other information related to your email and other
communication with us – for compliance and business-protection purposes as described
above. This may include reviews for the purposes of disclosure of information relevant to
litigation and/or reviews of records relevant to internal or external regulatory or criminal
investigations. To the extent permitted by applicable law these reviews will be conducted in a
reasonable and proportionate way and approved at an appropriate level of management. They may
ultimately involve disclosure of your information to governmental agencies and litigation
counterparties as described below. Your emails and other communications may also occasionally be
accessed by persons other than the members of staff with whom they are exchanged for ordinary
business management purposes (for example, if necessary, when a staff member is out of the
office or isn’t an employee of LiteBit anymore).
- We will only process your personal information if this is necessary
for the purposes described above, and then only where we have concluded that our processing does
not prejudice you or your privacy in a way that would override our legitimate interest in
pursuing those purposes. In exceptional circumstances we may also be required by law to disclose
or otherwise process your personal information. We will tell you, when we ask you to provide
information about yourself, if provision of the requested information is necessary for
compliance with a legal obligation or, on the other hand, if it is purely voluntary and there
will be no implications if you decline to provide the information. Otherwise you should assume
that we need the information for our business or compliance purposes (as described above). If
you are uncertain as to LiteBit's need for information that we request from you, please
contact the LiteBit representative asking for the information, or Contact us (see below), with
RETENTION OF PERSONAL DATA
As a rule, we store your personal data for as long as necessary for the
purpose for which the data were collected, as described in this Statement. We will retain your
account information for the duration of 7 years after last active action. The information you
provide during a verification procedure will also be retained for the duration of 7 years after last
active action. We can retain data longer if we are required by law to do so. After the retention
period is finished or the data is no longer necessary for the purpose for which the data were
collected, the personal data will be deleted.
If you fill out a contact form on the website, the data you provide will be
retained for as long as is necessary depending on the nature of the form or the content of your
email, to fully answer and correctly handle your message or email. We can retain data longer if we
are required by law to do so.
To notify you through a price alert of a certain coin we will retain your
e-mail address for the duration of 7 years after last active action.
(INTERNATIONAL) DATA TRANSFERS AND DISCLOSURE TO THIRD
- We may disclose your personal data where we have obtained your consent
or where it is reasonably necessary for the various purposes set out above:
- To the other members of the LiteBit group of companies;
- To improve our website and premises and other aspects of the way in
which we conduct our operations;
- To service providers, including hosting providers, payment providers,
e-mail service providers and (web) developers who host our website or other information
technology systems or otherwise hold or process your information on our behalf, under strict
conditions of confidentiality and security;
- To a person who takes over our business and assets, or relevant parts of
- In exceptional circumstances:
- To competent regulatory, prosecuting and other governmental agencies, or
litigation counterparties, in any country or territory; or
- Where we are required by law to disclose.
- These disclosures may involve transferring your personal information
overseas. If you are dealing with us within the European Economic Area (or the UK, after it has
left the European Economic Area), you should be aware that this may include transfers to
countries outside the European Economic Area / UK, which do not have similarly strict data
privacy laws. In those cases, where we transfer personal data to other members of the LiteBit
group or our service providers, we will ensure that our arrangements with them are governed by
data transfer agreements or mechanisms, designed to ensure that your personal information is
protected on the same level (including, where appropriate, under an agreement on terms approved
for this purpose by the European Commission). Please contact us (see below) if you would like to
know whether any such agreements are in place or, if so, to see a copy.
- We take appropriate technical and organizational security measures to
protect your personal data. We take the following measures in particular:
- Access to personal data requires the use of a user name and
- We take physical measures to protect access to the systems in which the
personal data is stored;
- We make use of secure connections (Transport Link Security or TLS) to
encrypt all information between you and our website when entering your personal data;
- We keep logs of all requests regarding access to personal data;
- Regular penetration testing and security review by specialized
- Use of multifactor authentication where applicable;
- Use of hosting provider that is specialized in handling sensitive data;
- Training of employees on security best practices.
This Statement is not applicable to third-party websites connected to this
website through links. We cannot guarantee that these third parties will handle your personal data
in a secure and careful manner. We recommend that you read these websites' privacy statements
before making use of these websites.
CHANGES TO THIS PRIVACY STATEMENT
We reserve the right to modify this Statement. We recommend that you review
this Statement regularly, so that you remain informed of any possible changes.
- You have certain rights involving the processing of your data:
- You have the right to request access to the personal data that we
registered about you;
- When the data is incorrect or no longer relevant, you can request any
inaccurate personal information to be corrected, supplemented or deleted (right to rectification
- In some circumstances you have the right to limit the processing of your
personal data by us;
- In some cases you have the right to be forgotten, which means we have to
erase the personal data we hold from you;
- You can object to our use of your personal data at any time and you may
have the right to object to our processing of some or all of your personal data (right to
object) and require them to be deleted in some other circumstances;
- In some circumstances, you have the right to obtain a copy of your data
in a usual, machine-readable format in order to be able to transfer it to another organization
(right to data portability);
- You have a right regarding automated decision-making and profiling which
means you have the right to a human review when decisions are being made.
NATIONAL SUPERVISORY AUTHORITY
Of course, we will also, gladly, help you if you have any complaints about
the processing of your personal data. Based on privacy legislation, you have the right to lodge a
complaint with the relevant national data protection authority, responsible for the protection of
personal data (this is the ‘Autoriteit Persoonsgegevens’ for the Netherlands) against
our processing of your personal data.
When you visit our site www.litebit.eu and/or use our mobile
applications, we may obtain information about you by using a "cookie", which is a small
file transferred by a website and stored on your device (such as your computer, mobile phone,
tablet, etc.). Cookies could contain personal information about you that is transferred to your
device. They help us to improve our website and to deliver a better and more personalised service.
Some of the cookies we use are essential for the site to operate. You can read more about what
cookies we use, for what purpose and how to accept or reject them in LiteBit’s Cookie Statement.
In case you, after reading our Privacy- and Cookie Statement, still have
questions and/or suggestions you can contact us via the below stated contact data or by our contact
Weena 740, 15th floor
Tel: +31 (0)
10 307 48 20
Chamber of Commerce: 63661438
Litebit.eu is part of 2525 Ventures B.V. located in Rotterdam and
registered under the Chamber of Commerce with number 63661438.