Where is my crypto held?
Finary holds your crypto on your behalf, using the technology of our provider Dfns. It is recorded in your name in our registers and held separately from Finary's own crypto-assets, including on-chain.
To execute your orders, your crypto may be held temporarily by our licensed brokers, acting as sub-custodians, and through them on trading platforms.
If you use staking or lending, your crypto is entrusted to our partner Bitstamp Europe, regulated in Luxembourg (see below).
What happens in case of a hack?
Finary remains responsible for the custody of your crypto, including when it relies on providers. If your crypto cannot be returned to you following an event attributable to Finary, Finary compensates you up to its market value at the time of the loss, as required by the European MiCA regulation.
This liability does not apply when the loss comes from:
your side: compromised credentials or device, wrong address or network when making a withdrawal;
a failure of the blockchain itself.
🔐 To protect your account, use a unique password, enable two-factor authentication and never share your codes. Always check the address and network before a withdrawal: a completed withdrawal cannot be reversed.
What happens if Finary or a provider goes bankrupt?
Your crypto belongs to you and is held separately from the assets of Finary and its providers. If one of them goes bankrupt, your crypto cannot be used to repay its creditors and is returned to you. Lending is the only exception (see below).
Is my crypto covered by insurance?
No. No insurance policy covers customers' crypto-assets, and they are not covered by the French deposit guarantee scheme (Fonds de Garantie des Dépôts et de Résolution). In case of a loss attributable to Finary, Finary compensates you from its own resources (see above: “What happens in case of a hack?”). As required by the MiCA regulation, Finary maintains a minimum level of own funds at all times.
What about staking and lending?
These services do not fall under the MiCA regulation, even when provided by a regulated company, and come with no guarantee.
Staking: your crypto remains your property, but may be lost in case of a network penalty or a protocol bug.
Lending: your crypto is lent to a partner and belongs to it for the duration of the loan. If this partner or its borrowers default, you may lose all or part of it.
To learn more, see Yield: how to earn rewards with my crypto.
The details of these rules are set out in our Crypto Terms and Conditions.