Crypto Wallet or Euro Wallet? Understanding Your Balances at Bitnovo!

If you're using the Bitnovo app, you might have noticed different balances or wondered why what you see in the app doesn't always match what you see on the website. Don't worry! It's not an error; you're simply looking at two different tools designed for distinct purposes: your Cryptocurrency Wallet (self-custody) and your Euro Wallet.

Let's clarify the differences so you can manage your funds with complete peace of mind.

1. Your Cryptocurrency Wallet (Self-Custody in the App)

Think of this wallet as your personal and exclusive digital safe for cryptocurrencies. It's a tool available in the Bitnovo app that allows you to store, send, and receive cryptocurrencies like Bitcoin, Ethereum, etc.

The most important part here is the word "self-custody." This means that you have absolute and exclusive control over your cryptocurrencies. Bitnovo does not have access to the private keys of this wallet, nor can we move your funds. You are solely responsible for its security keys (your seed phrase, for example). In fact, you don't need to be a registered Bitnovo user to use just this wallet in the app! Its balance only reflects the cryptocurrencies you have deposited or received in it.

2. Your Euro Wallet (Your Registered Bitnovo Account Balance)

This is your balance in fiat currency (Euros), directly linked to your registered Bitnovo account. This wallet is managed by Bitnovo to facilitate your crypto buying and selling operations.

You can access this wallet from both the website and the app (if you are a registered user). Its main functions are:

• Top up with Euros to easily buy cryptocurrencies.
• Receive Euros when you sell your cryptocurrencies to Bitnovo.
• Send Euros to your personal bank account via bank transfer.

The balance of this wallet only shows the amount of Euros you have available in your Bitnovo account.

Why Are the Balances Different? It's Not an Error!

The main confusion arises because the balance of your Cryptocurrency Wallet (with your Bitcoins, Ethers, etc.) and the balance of your Euro Wallet are completely independent.

• If you open the Bitnovo app as a registered user, you will see the balance of your cryptocurrencies in your self-custody wallet AND also the balance of your Euro wallet.
• If you access your account through the Bitnovo website, you will only see the balance of your Euro Wallet, as the management of the cryptocurrency wallet is done exclusively from the app and under your direct control.

Therefore, if your numbers don't add up when comparing what you see in one place or another, there's no error. You are simply looking at two different types of funds, managed in different ways. Furthermore, it's crucial to remember that cryptocurrency movements you make in your self-custody wallet from the app are not managed or controlled by Bitnovo. This autonomy is precisely the essence of self-custody.

Understanding this distinction is key for a clear and seamless experience at Bitnovo, allowing you to manage your Euros and cryptocurrencies most efficiently.