Industry-Leading Security Protects Your Assets

Switch prioritizes the security of your digital assets and personal information with regulated custodians, strict compliance measures, and industry-standard protection.

Protecting Your Funds and Privacy is Our Top Priority

At Switch, security isn't an afterthought, it's embedded in everything we do. From the moment you create your account to every transaction you make, multiple layers of protection work together to keep your assets safe.

Our platform is built on a foundation of regulated financial partners, comprehensive compliance measures, and advanced security protocols that meet the highest industry standards. We believe that trust is earned through transparency and action.

Every digital asset held on the Switch platform benefits from custody services provided by regulated financial institutions, segregated fund storage for your USD deposits, and continuous monitoring to protect against unauthorized access. Your security is our commitment.

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Multiple Layers of Protection

We work with industry-leading regulated custodians and banking partners who specialize in digital asset security. Your funds are protected by institutional-grade security measures, including segregated fund storage, comprehensive KYC verification, and continuous transaction monitoring against sanctions lists.

Security Above Everything

Regulated Custodians

Your digital assets are held by trusted, regulated financial institutions that specialize in cryptocurrency custody:

  • Ibanera LLC

  • Vault IST DMCC

These custodians follow industry best practices and maintain comprehensive security protocols to protect your assets.

Banking Partners

USD deposits and banking services are provided by established financial institutions:

  • Cross River Bank for USD deposits

  • Segregated fund storage

  • Funds held separate from corporate assets

Your dollar deposits are kept completely separate from Switch's operating funds, providing an additional layer of protection.

Account Protection

Multiple authentication methods protect your account from unauthorized access:

  • Email verification for login (5-digit code)

  • Two-factor authentication (2FA)

  • Authenticator app support

  • Unique wallet encryption passcode

We recommend enabling 2FA and using a unique passcode different from your login password.

Identity Verification

Comprehensive KYC (Know Your Customer) procedures protect both you and the platform:

  • Identity verification required for account creation

  • Document upload and facial verification

  • Enhanced verification for larger transactions

  • Transaction limits based on verification level

These measures help prevent fraud and ensure regulatory compliance.

Wallet Security

Choose between custodial and non-custodial wallet options based on your needs:

  • Trade Wallet: Custodial, user-friendly

  • Rewards Wallet: Non-custodial, full control

  • 12-word recovery phrase for non-custodial wallets

    Encryption passcode protection

Non-custodial wallets give you complete control of your private keys and digital assets.

Transaction Monitoring

Every transaction is monitored for security and compliance:

  • Real-time transaction monitoring

  • Flagged transactions reviewed within 5 business days

  • Suspicious activity detection

  • Transaction history and export capabilities

Our systems continuously monitor for unusual patterns to protect your account.

Committed to Regulatory Compliance

This is a Switch operates in full compliance with international regulations and actively works to maintain the highest standards of legal and regulatory adherence.Font

KYC Requirments

Know Your Customer verification is required for all account creation. We collect and verify identity information to ensure we know who we're doing business with and to prevent fraud.

AML

Anti-Money Laundering compliance is integrated into our platform. We monitor transactions and report suspicious activity in accordance with regulatory requirements.

Sanctions Screening& Regulated

All transactions are screened against OFAC (Office of Foreign Assets Control) and other international sanctions lists to ensure compliance with economic sanctions.

Geographic Restrictions

Service availability is restricted in certain countries and regions to comply with international regulations. We maintain updated restrictions based on regulatory requirements.

Important Risk Disclosure

Digital Asset Risk Notice: Digital assets are not legal tender and are not insured by the Federal Deposit Insurance Corporation (FDIC). Digital assets are subject to extreme price volatility and may lose value. Digital assets held in your account are not insured by any governmental entities. You should carefully consider whether holding digital assets is suitable for you in light of your financial condition.

Custody Providers: Digital assets and custody are provided by Ibanera LLC and Vault IST DMCC. These entities are not FDIC insured depository institutions or banks.

Security FAQs

Everything you need to know about Switch security. Still have questions? Contact support.

Securing Your Account

Security Basics

Protecting your Switch account starts with these essential practices:

- Use a unique password: Create a strong password different from other accounts

- Enable email verification: A 5-digit code is sent to your email each time you log in

- Never share credentials: Switch support will never ask for your password or recovery phrase

- Verify URLs: Always ensure you're on switchrewardcard.com or app.switchrewardcard.com

- Keep software updated: Use the latest browser and operating system versions

- Secure your email: Your email account is the gateway to password resets

What does "community-owned" actually mean?

Two-factor authentication adds an extra layer of security to your account.

Here's how to set it up:

1. Log in to your Switch account at app.switchrewardcard.com

2. Click the profile icon in the bottom left corner

3. Select "Two Factor Authentication"

4. Download an authenticator app (Google Authenticator, Authy, or Microsoft Authenticator recommended)

5. Click "Continue" on the Switch platform

6. Enter your account password

7. Enter the code emailed to your registered email address

8. Scan the QR code with your authenticator app

9. Enter the 6-digit code from your authenticator app to complete setup

Important: Once enabled, you'll need both your password and the 6-digit code from your authenticator app to log in.

Setting Up Your Wallet Passcode

Your wallet passcode (also called encryption passcode) protects your non-custodial Rewards Wallet. This is different from your account login password.

Best Practices:

- Use a completely unique passcode—different from your login password and any other passwords

- Make it strong: at least 12 characters with a mix of letters, numbers, and symbols

- Write it down and store it securely offline (not in digital notes or cloud storage)

- Never share it with anyone—not even Switch support

To Change Your Wallet Passcode:

1. Log in to the Switch Web App

2. Click your name in the bottom left corner

3. Select "Change Passcode"

4. Enter your 12-word recovery phrase in the designated boxes

5. Type your new password and confirm

6. Click "Reset Passcode"

Protecting Your Recovery Phrase

Protecting Your Recovery Phrase

Your 12-word recovery phrase (also called seed phrase) is the ONLY way to recover your non-custodial wallet if you forget your passcode. This phrase was shown once during wallet setup.

Critical Security Rules:

- Write it down offline: Use pen and paper, never store digitally

- Store securely: Keep it in a safe, safety deposit box, or other secure location

- Never share it: Anyone with your recovery phrase has complete access to your wallet

- Switch will NEVER ask for it: No legitimate support request will ever ask for your recovery phrase

- Make a backup: Consider storing a second copy in a separate secure location

- Cannot be changed: Your recovery phrase is permanent and cannot be recovered if lost

Estate Planning: Consider leaving your recovery phrase and wallet passcode with a trusted individual or in your estate documents so your assets can be accessed in case of emergency.

Recognizing Phishing Attempts

Phishing scams attempt to steal your login credentials or recovery phrase. Stay vigilant and watch for these red flags:

Common Phishing Tactics:

- Fake URLs: Always verify you're on switchrewardcard.com—scammers use similar-looking domains

- Urgent messages: Claims like "your account will be closed" or "immediate action required"

- Requests for sensitive info: Legitimate companies never ask for passwords or recovery phrases

- Suspicious emails: Check sender addresses carefully—scammers often use addresses that look official

- Too-good offers: Promises of free crypto, special deals, or guaranteed returns

- Unsolicited contact: Unexpected calls, texts, or DMs claiming to be from Switch support

What to Do If You Suspect Phishing:

- Do not click any links or provide any information

- Navigate directly to app.switchrewardcard.com by typing the URL

- Contact official support at [email protected]

- If you've already provided credentials, change your password immediately

Understanding Security

What is KYC?

KYC stands for "Know Your Customer"—a regulatory requirement that financial platforms must verify the identity of their users.

Why Switch Requires KYC:

- Regulatory compliance: Required by law for financial service providers

- Fraud prevention: Helps prevent identity theft and account takeovers

- AML compliance: Ensures compliance with Anti-Money Laundering regulations

- Platform security: Protects all users by verifying real identities

What You'll Need for KYC:

- Government-issued photo ID (passport, driver's license, or national ID)

- Proof of address (utility bill, bank statement, or official document)

- Selfie for facial verification

- Personal information (full name, date of birth, address)

Verification Levels: Higher KYC verification levels unlock increased transaction limits. Enhanced verification may be required for larger transactions.

Custodial vs Non-Custodial Wallets

Switch offers both custodial and non-custodial wallet options, each with different security characteristics:

Custodial Wallet (Trade Wallet):

- Who controls it: Switch holds custody of your digital assets through regulated partners

- Security: Protected by institutional-grade security measures

- Ease of use: More user-friendly, no recovery phrase required

- Recovery: You can reset access through customer support

- Best for: Trading, frequent transactions, beginners

Non-Custodial Wallet (Rewards Wallet):

- Who controls it: You have full control via private keys (recovery phrase and passcode)

- Security: You are solely responsible for protecting your credentials

- No third party: No approval needed to send funds—you control everything

- Recovery: Only possible with your 12-word recovery phrase (Switch cannot help)

- Best for: Long-term storage, maximum control, experienced users

- Required for: Receiving rewards from running Switch Nodes

Key Principle: "Not your keys, not your crypto" applies to custodial wallets.

Non-custodial wallets give you complete ownership but also complete responsibility.

Transaction Monitoring Explained

Switch monitors all transactions to protect users and maintain compliance with financial regulations.

What Gets Monitored:

- Sanctions screening: All transactions checked against OFAC and international sanctions lists

- Unusual patterns: Large or suspicious transactions are flagged for review

- Geographic restrictions: Transactions from restricted countries are blocked

- AML compliance: Activity monitored for potential money laundering

What Happens If a Transaction Is Flagged:

- The transaction may be temporarily held for review

- Review typically completed within 5 business days

- You may be contacted for additional information

- Most flagged transactions are routine security checks

Your Protection: This monitoring protects you from fraud, unauthorized access, and ensures Switch operates in compliance with regulations that allow us to serve you legally.

Why Segregated Funds Matter

Segregated funds means your USD deposits are kept completely separate from Switch's corporate operating funds.

What This Means for You:

- Protection from business risk: Your funds aren't used for Switch's business operations

- Bankruptcy protection: In the unlikely event of business failure, your segregated funds are protected

- Clear ownership: Your deposits remain your property at all times

- Regulatory requirement: Banking partners like Cross River Bank must maintain segregation

How It Works:

When you deposit USD, those funds are held in accounts separate from Switch's business accounts. This creates a legal barrier protecting your money from company creditors or operational issues.

Important Note: While USD deposits benefit from segregated fund storage through Cross River Bank, remember that digital assets are not FDIC insured and carry different risk profiles.

Digital Asset Risk Factors

It's essential to understand the risks associated with digital assets before investing or transacting.

Key Risk Factors:

- Price volatility: Cryptocurrency prices can change dramatically in short periods

- No FDIC insurance: Digital assets are not protected by government deposit insurance

- Irreversible transactions: Crypto transactions cannot be reversed or charged back

- Technology risks: Smart contract bugs, network issues, or protocol failures can occur

- Regulatory uncertainty: Crypto regulations are evolving and may change

- Loss of access: Lost recovery phrases or passcodes mean permanent loss of assets

- Market manipulation: Smaller cryptocurrencies may be vulnerable to price manipulation

Protecting Yourself:

- Never invest more than you can afford to lose

- Understand what you're buying before purchasing

- Diversify your holdings across different assets

- Use strong security practices (2FA, unique passwords, offline recovery phrase storage)

- Be skeptical of guaranteed returns or "get rich quick" promises

- Research thoroughly and beware of scams

Official Disclaimer: Digital assets can lose value. You should carefully consider whether holding digital assets is suitable for you in light of your financial condition. Custody is provided by regulated partners, but these entities are not FDIC insured depository institutions.

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Important Notices

Digital Assets and Custody are provided by Ibanera LLC and Vault IST DMCC. Ibanera LLC and Vault IST DMCC are not insured depository institutions or banks. Digital assets are not legal tender, are not insured by the Federal Deposit Insurance Corporation ("FDIC"), and are not subject to protections afforded to bank deposits. Digital assets are subject to extreme price volatility and may lose value. Digital assets held in your digital asset account (i.e. rewards wallet or trade wallet) are not insured by any governmental entities, including but not limited to FDIC. As with any asset, the value of digital assets can go up or down and there can be substantial risk that you lose money buying, selling, or holding, in digital assets. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. No bank guarantee and may lose value.

Switch Nodes and the Switch Blockchain are governed by a Distributed Governance Framework, which is distinct from and not controlled by Switch Reward Card DAO LLC (Switch Reward Card). Any value derived from Switch Nodes and Switch Rewards is likely to be uncorrelated with the success or failure of Switch Reward Card.

Switch Reward Card does not sell digital rewards. The Switch Blockchain, which is governed by Switch Node owners, self-governs the distribution of Switch Rewards. Switch Rewards are earned in exchange for work and action on the Switch platform. Switch Rewards are digital rewards designed to have utility on the Switch platform for the purchase of Switch's products and services. Switch Rewards is not an investment product and may never have any value outside of the Switch platform. Switch Node owners should not expect to recognize any value from Switch Rewards other than its utility on the Switch platform. Switch Reward Card does not anticipate correlation between Switch Rewards' value and Switch Reward Card's business activities.

Banking services including USD deposits are provided by Cross River Bank.

Switch Reward Card, DAO, LLC operates as a registered Money Services Business (MSB) with the Financial Crimes Enforcement Network (FinCEN). We are also a proud participant in the FinCEN 314(b) voluntary information-sharing program to help detect and prevent money laundering and terrorist financing.

SWITCH REWARD CARD RESERVES THE RIGHT TO CHOOSE MARKETS AND JURISDICTIONS TO CONDUCT BUSINESS, AND MAY RESTRICT OR REFUSE, IN ITS DISCRETION, THE PROVISION OF SWITCH SERVICES IN CERTAIN COUNTRIES OR REGIONS.

SWITCH ERC-20 Contract Address: 0xb10cc888cB2CcE7036F4c7ECAd8a57Da16161338

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