The answers to the most frequently asked questions about CheckSig and its services.
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What do I need to open an account?
If you are a company, contact us and we will assist you in collecting the necessary documentation.Our team will be able to support you and guide you in the best possible way even in the handling of anti-money laundering (AML) procedures until your account is opened.
How do you make a deposit?
Just send us a request to which we will respond with a destination address, using both an e-mail and a fully encrypted chat (Whatsapp, Telegram or Signal). You will be able to transfer your Bitcoins to that address and we will send you a formal deposit receipt when the transaction is confirmed. Our team will always be available to guide you step by step in the simple process of sending Bitcoins to our address, both in person and in videocall, should it be necessary.
Can I also pay custody fees in Euros or USD?
Of course, even if for convenience and to protect your privacy we tend to advise against it. Paying in Bitcoin is easy, fast and guarantees the protection of your privacy: CheckSig will simply hold the funds from your custodian account, and no payments will be visible on your checking account or on your credit card statement.
Can I deposit other cryptocurrencies besides Bitcoin?
We mainly deal with the custody of Bitcoin, which is the digital asset par excellence both in terms of market capitalization and liquidity. Furthermore, the intrinsic characteristics of the Bitcoin protocol allow us to guarantee you truly unparalleled security. In addition to Bitcoin, we can also receive Ether and stablecoins in deposit, guarded with solutions based on multi-party computation.
Is the safety of my funds guaranteed even if something happens to CheckSig?
Your Bitcoins are safe with us, no matter what might happen to CheckSig. In addition to our ordinary custody process, in fact, we can guarantee solid and reliable fund recovery procedures even in the event of catastrophic or exceptionally serious scenarios. You will find all the details in our Custody Protocol. The Bitcoins we hold are also segregated from our corporate assets and cannot be claimed by creditors even in the event of bankruptcy.
Does the contract have a minimum duration?
No, you are free to withdraw all your funds at any time. The fees are based on the deposited amount: if there are no funds in custody there is no fee.
How do you make a withdrawal?
We will ask you to send us a destination address for your Bitcoins using both an e-mail and a fully encrypted chat (Whatsapp, Telegram or Signal). We will also verify your identity via videocall with a member of our team. Your Bitcoins will be transferred to the destination address at the next scheduled secure opening of our vault. The waiting time between your withdrawal request and the availability of funds is an additional security measure which aims to drastically reduce the risk of fraud.In the event of an immediate need for your funds, we can guarantee liquidity in a business day for a one-time fee.
How can I stay in good standing with the taxman?
Depending on your jurisdiction you may need to include your Bitcoin assets in your tax return. CheckSig is not a withholding agent and does not provide tax consultancy services, however if necessary we can introduce you to our network of independent tax consultants with specific know-how on cryptocurrencies.To make it even easier we can provide you with your Crypto tax report, which consists of complete documentation of all your transactions such as transfers and withdrawals, sales and purchases. We will take care of its compilation and all the calculations. Here you will find the details on pricing.
What is your fork policy?
We at CheckSig do our best to offer our customers the most value and best of experiences, but we cannot guarantee that specific Airdrops or Forks are supported. We reserve the right to decide on a case-by-case basis based on multiple factors, including:
How long does it take to make a purchase through the buying and selling service?
The purchase operations are carried out by our operators within a few hours from when the euro funds are available on the exchange identified by CheckSig for the execution of the operation. The transfer of funds on the exchange requires the execution of two separate transfers:
Where possible, we recommend that you use the Instant Transfer service offered by your bank, which reduces the times of these transfers from a few days to a few minutes, and allows us to complete the purchase more quickly.
How long does it take to carry out a sales operation through the buying and selling service?
The sales operations are carried out by our operators within a few hours from when the Bitcoins to be sold are available on the exchange identified by CheckSig for the execution of the operation. Transferring Bitcoins to the exchange requires that they be withdrawn from your CheckSig account, in one of the following ways:
The standard solution is ideal if you are not in a hurry. If, on the other hand, you wish to capture a particular market moment, we suggest that you request a sale combined with the Instant Liquidity service, which allows us to complete the sale within one business day.
When and how is the stamp tax applied?
The Italian fiscal legislation provides for an annual stamp tax of 0.2% on cryptocurrency activities.
The tax does not apply if the cryptocurrency balance at the end of the month is zero and you did not perform operations during the month. This means that the CheckSig account does not have costs unless it is used.
If instead it is used, the stamp tax is levied through a monthly charge on the Euro balance of your account, calculated as follows:
cryptocurrency balance at the end of the month converted to Euros / days in the year * days in the month * 0.2%, with a minimum of €1,00
When and how are custody fees applied?
Fees do not apply if the cryptocurrency holding in the month is zero. This means that the CheckSig account does not have costs unless it is used.
If instead it is used, the fees are charged monthly on the Euro balance of your account, calculated as follows:
average monthly holding * annual commission rate / 12
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