CoinZoom prioritizes the security of our customer's funds, all digital currency that CoinZoom holds online is insured. If CoinZoom were to suffer a breach of its online storage, the insurance policy would pay out to cover any customer funds lost as a result. CoinZoom holds less than 2% of customer funds online. The rest is held in cold storage at one of our qualified custodians.
Please note that the insurance policy covers any losses resulting from a breach of CoinZoom;s physical security, cyber security, or by employee theft. This insurance policy does not cover any losses resulting from the compromise of your individual CoinZoom account. It is your responsibility to use a strong password and maintain control of all login credentials you use to access CoinZoom.
Digital currency is not legal tender, is not backed by the government, and digital currency accounts and value balances on CoinZoom are not subject to Federal Deposit Insurance Corporation or Securities Investor Protection Corporation protections.
CoinZoom stores all customer fiat currency (government- issued currency) in, custodial bank accounts. If you are a United States resident, your CoinZoom USD Wallet is covered by FDIC insurance, up to a maximum of $250,000.
CoinZoom stores all customer fiat currency (government- issued currency) in segregated, custodial bank accounts.
Cash balances held in your CoinZoom accounts belong to you - not CoinZoom. Even if CoinZoom were to fail as a business, the funds held in the custodial bank accounts could not be claimed by CoinZoom or its creditors. The funds held in those accounts would be returnable to CoinZoom's customers.