Table of Contents
Your Wage Is Now Insured
Securing and protecting your hard-earned wages is of the utmost importance to us at Bitwage. This is why we have carefully worked with security experts through our public bug-bounty program and other private independent experts to develop in-house enterprise grade security. With the help of our security advisor, Joel Weise, former CTO of security for Sun Microsystems, we have implemented a state of the art security policy. As part of our security policy, we align with ISO and NIST standards as well as industry best practices for financial service organizations including banking grade encryption of user data, strict password management policies, two-factor authentication for all sensitive data and processes, and annual audits that include a physical audit of our business headquarters address.
Our security policies and procedures were put through a rigorous vetting procedure by top rated cyber liability insurance experts, and we obtained insurance against cyber-attacks from a top-rated insurance carrier with an AM Best Rating of A and above.
For those that do not know, Bitwage does not store an inventory of Bitcoins, nor do we hold customer funds (although we make it very easy to send funds to our Cloud Savings solution powered by Uphold). This means that we hold your funds for only a very short time and thus the the risk of loss from malicious actors or otherwise is low. The payment of wages is the culmination of the effort and hard work of workers and we at Bitwage want to handle them with the utmost care and level of security, as we continue to improve and strengthen our security program.
By partnering with a top-rated insurance carrier, it is our goal to provide our customers with a peace of mind that their wages are in a safe place.
photo via Phil Whitehouse