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FAQ’s

How is HEX Custody different from a hardware wallet solution?

While hardware wallets might represent acceptable solutions for retail investors, unless special operational, backup and security precautions are taken, users are exposed to several common security threats, limited protection of their privacy and confidentiality, and the risk of losing their private keys or exposing backup copies.

Retail wallets’ user interfaces are designed for retail investors and aren’t suitable for institutional requirements. While they are intuitive and easy to use, they lack the functionalities needed by institutional investors to manage a significant amounts of digital assets, multi-user workflows and escrow.

Which digital assets does HEX Custody support?
In the first phase, HEX Custody supports Bitcoin, EOS, Bitcoin Cash, Ripple, Namecoin, Litecoin, Dodge, Dash, Z-Cash, Bitcoin Gold, DG-Byte, Mona, Fujicoin, Vertcoin, Ethereum, Ethereum Classic, Stellar, NEO, Qtum, ERC-20 tokens and EOS tokens.
How long does it take to withdraw funds?
Withdrawal times depend on which wallet is used. The ZeroKey wallet allows for the availability of funds within seconds, while frozen wallets has an access and verification time of 24 hours.
Do you have KYC procedures in place?
HEX Custody is aligned with the best-practice KYC/AML standards and has procedures in place to comply with regulatory changes.
How will funds in custody be used?
Funds in the custody of HEX Custody will not be used for any purpose by HEX and will not be comingled with other clients' funds.
How will the assets be secured?
Our security is built on core principles of security and cryptography to provide in-depth defence, leveraging:
  • Multi-layer security: physical, cryptographic, operational
  • Multi-factor authorisation, authentication and signing
  • Geographic and organisational distribution of keys and related infrastructure
  • Industry standard cryptographic protocols
  • Cold storage compliant with FIPS 142-2 standard
  • Strong encryption and hashing algorithms, compliant with FIPS-197 and FIPS 142-2 standards
  • Air-gapped computers