Privacy Policy

This Privacy Policy explains how Bitwells collects, uses, shares, and protects user information obtained through the Bitwells.com website. The terms “we,” “us,” and “our” refer to Bitwells and its affiliates. When we ask for certain personal information from users it is because we are required by law to collect this information or it is relevant for specified purposes. Any non-required information you provide to us is done so voluntarily. You decided whether to provide us with this non-required information; you may not be able to access or utilize all of our Services if you choose not to.

By using the Site, you consent to the data practices described in this Privacy Policy. On occasion, Bitwells may revise this Privacy Policy to reflect changes in law or our personal data collection and use practices. If material changes are made to this Privacy Policy, the changes will be announced by posting on the site. We will ask for your consent before using your information for any purpose that is not covered in this Privacy Policy.

The latest privacy policy has incorporated elements from the General Data Protection Regulation (GDPR) as we act in accordance with its personal information processing rules within the European Economic Area (EEA).

2.Collection and use of personal information
The following are the types of information we collect when you register and use Bitwells:

1)Information required for registration
When registering a Bitwells account, you need to provide with us your email address, name, password, and other related information. To enhance the security of your account, You can also choose to add a phone number for SMS or Google Authenticator account to be used for 2FA verification for improved security.

2)Information required for identity verification
To comply with global industry regulatory standards including Anti-Money Laundering (AML), Know-Your-Customer (KYC), and Counter-Terrorist Financing (CTF), we are required to collect identification documents. This clause applies both to personal and business accounts.

3)Information required for using Bitwells related services

3.1) Information of Service Usage
During your use of the Bitwells platform, we also monitor and collect tracking information related to usages such as access date & time, device identification, operating system, browser type, and IP address. This information may be directly obtained by Bitwells or through third-party services. This service usage data helps our systems to ensure that our interface is accessible for users on the platform, as well as provide support during criminal investigations.

3.2) Transaction Information

For all corporate and personal accounts, we collect transaction information including (but not limited to) deposit snapshots, account balances, transaction records, withdrawals, orderings, and distribution records. These collected data are used to monitor suspicious transaction behaviors for the purpose of preventing user fraud and assisting in the judgment of legal cases.

3.Why Bitwells collect information

1)To provide and maintain services
We use the information collected to deliver our services and verify user identity.
We use the IP address and unique identifiers stored in your device’s cookies to help us authenticate your identity and provide our service. Given legal obligations and system requirements, we are unable to provide services without your identification, contact information, and transaction-related information.

2)To protect our users
We use the information collected to protect our platform, users’ accounts, and archives.
We use IP addresses and cookie data to prevent spam, phishing website, and distributed denial of service (DDoS) attacks.

We analyze transactions to detect fraud behavior and find out as early as possible if there is any money flowing to suspicious accounts.

3)To comply with legal and regulatory requirements
Bitwells is committed to respecting personal privacy and data security when implementing requests from regulators and the government, and users. We will not disclose or provide any personal information to third parties without legal team review and user consent.

4)To measure site performance
We analyze the website data to better understand users’ experience with our products. The operations team conducts continuous data analysis to ensure that our users’ experience with Bitwells is continuously optimized and various problems that users may encounter have been addressed in time.

5)To communicate with users
To communicate with our users directly, we collect email addresses and other personal information to help users solve problems and notify users of such activities like login, transactions, and account security. If users do not verify their identity before communicating with us, we will not be able to respond to requests and questions submitted by users. All communication will be properly kept inside Bitwells for accuracy review.

6)To implement the Terms of Use and other agreements
For Bitwells and our users, it is important to keep checking to prevent potential violations. In order to safeguard the interests of our users, we carefully and rigorously implement agreements with third parties and strictly investigate any violations of the Terms of Use. Bitwells reserves the right to provide services to any user who participates in the violations of the Terms of Use.

4.How we protect user data

Bitwells has implemented a number of security measures to insure that user information would not be lost, be misused, or tampered with. Our data security measures include, but are not limited to, PCI scanning, Secure Sockets Layer encryption, anonymity, internal data access restrictions, and strict access restrictions to offices and files. Yet Internet electronic storage does not guarantee information security 100 percent. Therefore, we recommend that you take safety precautions on your own to protect the security of your personal information.

If you suspect that your personal information, especially your account or password information, has been compromised, please immediately freeze your account and contact Bitwells customer service staff.

5.Contact us

Bitwells respects the freedom and rights of all our users. If you have any questions or concerns about this Privacy Policy, or if you would like to submit a request for data protection, please refer to the FAQ and contact us on our support page.