Frequently Asked Questions (FAQ)

Last updated: March 2026

1. Getting Started

What is BitPrime?

BitPrime operates under a transaction execution (transit) model. We enable you to exchange Euros (EUR) for cryptocurrencies. The Company does not maintain client accounts or balances; any handling of crypto-assets is temporary and strictly limited to transaction execution. The Company does not provide custodial services and does not maintain ongoing control or storage of client assets.

Do I need an account to use BitPrime?

Yes. To comply with EU regulations, you must register a Client Profile and complete the identity verification (KYC) process before performing any exchange operations. Please note that the Company does not maintain user accounts with stored balances.

What is KYC and why is it required?

KYC ("Know Your Customer") is a legal requirement to verify the identity of users. The Company operates a hybrid AML framework combining automated tools (such as Sumsub) and internal compliance oversight by Transaction Monitoring (TM) specialists and the MLRO. This manual and automated review process is performed to:

  • Prevent money laundering (AML).
  • Prevent terrorist financing (CTF).
  • Ensure a safe and transparent environment for all users.

What documents are required for verification?

  • A valid government-issued photo ID (passport or national ID card).
  • For higher transaction volumes or regulatory purposes, additional documents may be requested, such as Proof of address (e.g., utility bill) or Proof of source of funds.

2. Buying Crypto (Fiat → Crypto Only)

How do I buy crypto?

The exchange process follows a strict execution-only flow:

  1. Initiate Order: Create an exchange order (EUR → Crypto) on the Platform.
  2. Wallet Provision: Provide your external wallet address, which must be your own.
  3. Payment: Pay using a verified bank transfer (SEPA) or card payment.
  4. Execution: The Company relies on third-party liquidity providers for execution and does not act as a principal trading counterparty.
  5. Transit: Funds pass through the Company's infrastructure; however, the Company does not retain funds beyond execution.
  6. Delivery: Once compliance checks are cleared, the crypto is sent directly to your wallet.

What fiat currencies are supported?

Currently, Euro (EUR) only.

What cryptocurrencies are available?

We facilitate the acquisition of the following assets:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Ripple (XRP)
  • Bitcoin Cash (BCH)
  • TRON (TRX)

3. Wallets, Custody & Security

Does BitPrime provide a wallet?

No. The Company does not provide custodial services and does not maintain ongoing control or storage of client assets. You must use your own external wallet (Ledger, Trezor, Metamask, or mobile wallet) to receive funds. This ensures you retain control over your crypto at all times.

How are my assets safeguarded?

The Company does not maintain client balances; therefore, traditional safeguarding and segregation mechanisms are not applicable. Our execution-only model ensures:

  • No long-term exposure to client assets.
  • No proprietary use of client funds.
  • Assets remain secure in your personal wallet even in the event of technical issues.

Can I cancel a transaction?

No. Once a crypto transfer is broadcast to the blockchain, it is irreversible. Always double-check the destination address and the selected network.

4. Fees & Technical Details

Why hasn't my exchange been completed yet?

Blockchain transactions require network confirmations. Typical confirmation times include:

  • BTC: 10–60 min
  • ETH/ERC-20: 1–15 min
  • Litecoin (LTC) / Bitcoin Cash (BCH): 10–30 min
  • Tron/TRC-20: 1–5 min
  • Ripple (XRP): a few seconds

What fees apply?

  • Service Fee: A transparent fee applied by the Company for each transaction execution.
  • Network Fee (Miner Fee): Charged by the blockchain network to process the transaction. All fees are clearly displayed before confirming any order.

5. Support & Compliance

How do I contact support?

You can reach our compliance and support team via email at main@bitprime.io. We can assist with transaction inquiries, verification (KYC) issues, or technical questions.

Regulatory Compliance

BitPrime is fully compliant with EU and Polish regulations, including:

  • MiCA (EU 2023/1114)
  • AML/CTF rules
  • Transfer of Funds Regulation (EU 2023/1113)
Frequently Asked Questions (FAQ) - BitPrime