BitPay
exchangeVeteran crypto payment processor and wallet; FinCEN-registered MSB founded in 2011.
Platform Information
Founded
Headquarters
Two-Factor Authentication
An extra login step that protects your account even if your password is stolen.
Custodial
The platform holds your crypto on your behalf — you don't control the private keys.
KYC Required
Know Your Customer — you must verify your identity before trading or withdrawing.
Proof of Reserves
The platform publicly proves it holds enough assets to cover all customer funds.
Insurance
Customer funds are covered by insurance in the event of a hack or platform failure.
Supported Chains
About BitPay
BitPay is a Bitcoin and cryptocurrency payment processor founded in 2011, one of the oldest in the industry. It offers merchant payment processing, a consumer wallet app, and a prepaid Mastercard. BitPay is registered as a Money Services Business (MSB) with FinCEN and holds money transmitter licenses across numerous U.S. states. No major customer fund breaches have been reported in its operating history, though it has faced criticism for mandatory KYC requirements introduced in 2019.
Security & Score
Platform Safety Score
Based on incident history, security features, and track record
Security Features
Insurance
BitPay maintains insurance coverage for digital assets held in custody.
Regulatory Information
Regulated In
Jurisdictions where this platform is officially licensed and subject to financial oversight.
Area Served
Countries or regions where this platform is available to users.
Notes
Registered MSB with FinCEN; holds money transmitter licenses in multiple U.S. states; complies with OFAC sanctions.
Incident History
No incidents recorded for this platform.
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