"If you're not paying for it, you're the product"
Consider this: Why would any exchange safeguard large amounts of users' bitcoin for a long period without charge?
After all, running commercial-grade hot and cold wallets is not free. Providing these services entails various direct, indirect and hidden costs, as well as risks, and even temptations.
Is your exchange really holding your bitcoin?
Over the years, multiple exchanges were found to be only partially-reserved due to hacks or due to reckless and even immoral and illegal behaviours.
Some exchanges even went as far as knowingly and intentionally committing exit-scams or engaging in rug-pulls.
These incidents happened before, may be happening now and will probably happen again in the future.
Verifiable custodianship is our standard
Bitaroo no longer provides long-term unverified custodial services for dormant accounts.
Users who utilise our long-term custodial services but do not engage in buying, selling, paying a BPAY bill, depositing, or withdrawing will have their coins automatically moved to the Bitaroo Vault.
Opting out, however, is easy and straightforward: Perform at least once a month any of these actions: deposit, withdraw, buy, or sell. These actions, whether active or passive (like DCA), can involve any amount, even as small as withdrawing a single satoshi on the Lightning Network.