CRYPTOBLOCK S.L.
BITCOIN INVESTMENT SERVICES IN OTC MARKETS WITH ESCROW SYSTEM
CryptoBlock S.L. is not a whale that stores large quantities of Btc but offers its services as a "Broker" that negotiates in the different exchanges the price and quantity of Bitcoin being transferred automatically in escrow mode.
Cryptoblock will create the client’s account in the exchange where our operations will take place, being the client or his representative verified legally, contributing with anti money laundering documentation and passing the process of KYC (Know your client demanded by the exchange).
Cryptoblock will provide all the necessary technological support and training during the purchase period, focus to the person or institution in charge of the custody or access to the assets.
PRELIMINARY PHASE. BUYER VERIFICATION
The process will begin with the delivery of the necessary documentation to verify compliance with money laundering regulations, not proceeding with the following phases until the legally established protocols for this purpose are complied with. In this phase the buyer will be informed about the nature of the investment to be made and the risks involved in order to give an informed consent about the completion of the purchase operation.
It should be noted that these processes may require from a few hours to days, with the possibility of carrying out the process without the necessary presence of the customer thanks to digital formats.
SECOND PHASE.
Once the first verification process and security measures are active, CryptoBlock will negotiate in the exchange the Bitcoins purchases stipulated in the contract.
The total purchase period will depend on the market liquidity and the Bitcoins amount to be purchased.
The total number of cryptoassets purchased at the end of the project will be an average of all purchases made at the price of the asset previously negotiated with the markets or purchased directly in the order book.
SECURITY SYSTEMS BASED ON ESCROW PURCHASES
Cryptoblock offers the integration of three complementary systems that increase the security for the customer:
1- PURCHASE WITH ESCROW
2- WHITELISTS ADDRESS ACTIVATION
3- WITHDRAWALS PERMISSION KEYS AND WHITE LIST CONFIGURATION
1- PURCHASE WITH ESCROW
The client will be verified legally in the exchange where we will make the purchases and pass through regulation money laundering process.
Once verificated, the client sends the fiat money negotiated by Cryptoblock, via bank transfer to the escrow service account, and the exchange will check out the deposit.
Once the deposit is verified, the exchange will deposit the Btc in the buyer's wallet.
With this system Cryptoblock would never have access to the client's fiat money or to the negotiated Btc and this escrow service would be in charge of mediating the transactions that will take place between the parties.
The exchange we work with is the company with the best reputation in the market and purchases are always carried out in the safest and most efficient way possible.
WHITELISTS ADDRESS ACTIVATION
The whitelist addresses are another security element we offer in the exchange. When the withdrawal whitelist is deactivated, the account can make withdrawals to any wallet. When this function is enabled, the account can only make withdrawals to the wallet that have been included in the whitelist.
In other words, you will only be able to receive funds from the exchanges account from those addresses, whatever they may be, that appear on your whitelist. This is very useful because if we were ever victims of phishing or hack, they will not be able to withdraw your funds.
WITHDRAWALS PERMISSION KEYS AND WHITE LIST CONFIGURATION
The exchange security will be increased thanks to an Android/IOS phone application that the customer or his agent will control, which generates random passwords that must be entered into the market to authorize the funds withdrawal. One of the two keys will be used to withdraw the funds and another to modificate the white lists configuration.
With these three security measures the client will have total control over the assets and no modification will be possible without the pre-authorization.
Once the previous steps have been carried out, the first purchases in the markets will be carried out, being these of a reduced value with the purpose of corroborating the integrity and security of the technical, formative and legal processes involved.
WALLET.
In case the client does not have cold wallets, a meeting in a private place with the client will be necessary for the creation and storage of the private keys associated to that wallet.
The client will have the option of choosing between the wallets (electronic storage devices) that will be presented to him, being able to opt for the greater security and comfort within the different options present in the market.
The process of creating private keys is undoubtedly one of the most important aspects of the project. We offer the most professional techniques available and rigorous control to access and safeguarding the assets. This process is the basis for the long-term success of cryptoassets protection.
Cryptoblock will offer the possibility of carrying out a training course for the person or persons in charge of the administration of the assets.