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 personal data.
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 mobile applications may change over time. Therefore, it is advisable to
revisit this Statement from time to time.
This Privacy Statement was last amended on May 20th 2020.
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 following purposes:
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,
birth date, password and nationality. 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
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.
At LiteBit we have a verification procedure in place as
part of our security measures for buying, selling and/or storing cryptocurrencies. In
order to complete this verification procedure we need your name, email address, date of
birth, country of residence and telephone number. You also 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 in order to comply with a legal duty.
Customer and Transaction Monitoring
Customers and transactions are monitored in
order to prevent anti-money laundering and financing of terrorism. When monitoring, we
process your personal data in order to comply with a legal duty.
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 provided us. When setting price alerts, we process your personal
data with your consent, which can be withdrawn at any time.
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 business interest.
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.
We may further use your information for the following purposes:
To operate, manage, develop and promote our business and, in particular, our
relationship with the organization 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
When processing your personal information for these purposes, we process your personal
data on account of a legal duty and/or 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 will be 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 providing the requested information is
necessary for compliance with a legal obligation or, on the other hand, if it is purely
voluntary. If it is voluntary 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 your
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 10 years after last active action. The information you
provide during a verification procedure will also be retained for the duration of 10 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 10 years after last active action.
(INTERNATIONAL) DATA TRANSFERS AND DISCLOSURE TO THIRD PARTIES
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
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 them; or
- 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 password;
We take physical measures to protect access to the systems in which the personal data
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 parties;
Use of multifactor authentication where applicable;
Use of hosting provider that is specialized in handling sensitive data; and;
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 have registered
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.
To exercise your rights involving the processing of your data, you can
contact LiteBit’s customer support. You will receive a ‘Personal data request’- form ("Form") on
the email address that we registered from you. Your request will be processed once
you’ve correctly filled out the Form and sent the Form back to us. We may ask
you to provide an identification document and/or other personal information in order
to determine your identity and to ensure that no one other then you is trying to
execute your privacy rights.
We adhere to the legal deadlines regarding the execution of the request. This means that
generally a request will be processed within one month. This period can be extended to
two months if it is considered a complex request. You will be notified when the period
In certain cases, if legally permitted, we may deny your request. We will inform you
about the reason for denying your request.
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 personalized 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/or 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
3014 DA Rotterdam
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.