Security & Compliance

Is Roseon regulated?

Roseon Group company, MyBitok OU, a company registered in Estonia under n. 14668300 (the “Company”), is licensed as a ‘Provider of Virtual Currency’. The Virtual Currency Licence for the provision of a virtual currency service is issued by the Estonian Financial Intelligence under number FVT000459.
The Virtual Currency License has sub-categories of permitted regulated activities as set out below:
  1. 1.
    Provision of service for the exchanging of virtual currency against a fiat currency, including exchange of fiat to crypto, crypto to fiat and crypto to crypto.
  2. 2.
    Provision of a virtual currency wallet service.
Roseon has adopted rigorous business and compliance processes and policies to ensure we meet regulatory obligations including the prevention of financial crime and money laundering.

Why do I need to verify my identity with KYC?

As a licensed Virtual Currency company, Roseon App is required to verify certain personal information of its users through a process known as KYC (Know Your customer) designed to protect our platform and ecosystem against fraud and money laundering so that we can provide our services to everyone in a compliant manner.

How to verify identity with KYC?

  1. 1.
    Go to your Profile (icon at the upper right corner)
  2. 2.
    Select "Identity Verification"

How to complete Security Authentication on your account?

Security Authentication required: Email Address, Phone Number, and Google 2FA Authentication
  1. 1.
    Go to your Profile (icon at the right upper corner) and select "Security Center"
  2. 2.
    If you are connected to the Roseon App with your email address then you have already completed the first Security Authentication
  3. 3.
    To complete the second Security Authentication select “Phone Number Authentication”
  4. 4.
    Select your country code and enter your phone number, then press “Bind”
  5. 5.
    To complete the third Security Authentication, choose “Google Authentication”
  6. 6.
    Select “download” to download and install Google Authenticator
  7. 7.
    Open Google Authenticator and memorize the 6 digits
  8. 8.
    Go back to Roseon App and click “Next”
  9. 9.
    You will see the backup key screen with a 16-bit key. Please write down, back it up and keep it in a safe place before enabling Google Authentication password. The key can be used to retrieve your account in case that your phone is lost or stolen.
  10. 10.
    Press “Next”
  11. 11.
    Select “Get Code”, enter the code that was sent to your email address
  12. 12.
    Enter the 6 digit code you’ve memorized earlier when you opened Google Authenticator in the "Google Verification Code" field
  13. 13.
    Press “OK”

What is Google 2FA Authentication and why it should be enabled?

We take every reasonable measure to prevent security breaches. Without 2-factor authentication (2FA), it’s much easier for an attacker to get access to your account and your funds. With 2FA enabled, it will provide stronger security by requiring a secondary authentication for verification on your account.
Since recovering stolen funds is not generally possible due to the nature of blockchain technology, preventing theft by enforcing 2FA is much more effective than trying to recover lost funds.