Account Security on BTC Markets

Caroline Bowler

How do I verify my account?

To make a bank deposit or withdrawal to/from your account you must be verified. Becoming verified is usually a quick process but in some cases can take a few days to complete. Once logged in, click "Account" then "ID Verification" and you will be redirected to Green ID. The easiest and quickest way to verify is to use your passport or driver's license. If you have any issues, feel free to contact support who will be able to resolve any issues.

Why must I verify my account?

BTC Markets is a registered Digital Currency Exchange with AUSTRAC. BTC Markets remains compliant by following AML and CTF guidelines. More details can be found in our AML/CTF Policy. We ask our users to verify their accounts as part of our KYC (Know Your Customer) policy. We may also ask for additional documentation to confirm your identity.

How do I enable additional security to help protect my account?

We recommend all users add two-factor authentication (2FA) to both their BTC Markets account and email accounts for additional security. To enable 2FA on your account, please follow our Two-Factor Authentication (2FA) Set-up Guide. If you any help, check out our troubleshooting guide: Two-Factor Authentication (2FA) Troubleshooting.

How do I change the name listed in my account profile?

If you have legally changed your name, please contact support and upload a copy of your name change or marriage certificate. Once your support request has been received, a member of our support team will get in touch as soon as possible to complete the process.

How do I change my password?

You can change your password by using the password reset feature.

How do I change my email address or username?

To change your primary email address or username, please see our help article: Change Email Address and/or Username

My Two-Factor Authentication (2FA) code has stopped working and I can't log in

The two-factor code is very time-sensitive. Even if it is out by a few seconds it may prevent you from accessing your account. If you are having issues with your 2FA codes, check out our troubleshooting guide: Two-Factor Authentication (2FA) Troubleshooting.

I have lost my phone/two-factor authentication (2FA) code and cannot log into my account

During the 2FA setup process, the system provides backup codes/secret keys which will allow you to add your BTC Markets account to a new app.

  • Install Google Authenticator on a new device and add your linked 2FA codes, which is done by using your backup QR code or secret key. Once set up on your device, this should allow you to log in.
  • If you have retained the same mobile number, it is possible to disable two-factor authentication via SMS. You can access this feature here.

If you are still having issues logging in to your account, please contact support.

Should I store my blockchain assets on your site?

Our clients can be confident in entrusting us with the safe and secure storage of their cryptocurrency. However, our recommendation is that clients should manage and safely secure their own funds. This philosophy is inherent to the nature of peer-to-peer cryptocurrencies. We believe cryptocurrency storage reserves should not be reliant upon a single entity, such as a bank, exchange or third party wallet management system.

Is BTC Markets safe and secure?

Security and privacy of our clients' accounts and data is our top priority. We run regular reconciliations of all our funds (a minimum of once every 30 minutes) to ensure we have a full reserve. We also apply security best practices and are continually developing and enhancing our security measures.

Do you manage a full reserve?

We use a cold wallet and hot wallet system to secure and manage our clients' cryptocurrency reserves. We maintain a full reserve and process reconciliations regularly. This gives us and our clients confidence that the funds shown in their accounts match with what is really in our bank and cold wallets. Our encrypted cold wallet storage is kept off-site in multiple locations. Each location is both physically secure and physically diverse.

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