I'm curious, since you mentioned that one of your great features is "Lightning-Fast Transactions," do you happen to support transactions on the Lightning network?
While Lightning-Fast Transactions are indeed one of the exciting features we're working on, it's essential to clarify that our support for transactions on the Lightning network is still in the early development stages. At this point, it's not yet available for public use. It's important to note that internal transfers between Mameex accounts are instant. We're committed to continuously enhancing our services and expanding our offerings to provide you with a seamless and efficient experience.
You've bolded the "No KYC needed" part, apparently putting strong emphasis on it, but what does the phrase "we may process personal information depending on how you interact with us and the Services, the choices you make, and the products and features you use" in your privacy policy mean?
We want to emphasize our commitment to providing a no-KYC experience for our users, as we believe in promoting as much anonymity as possible when using cryptocurrency-related services. The clause you've mentioned from our privacy policy is in place to ensure that, in certain circumstances, we reserve the option to process personal information on a case-by-case basis. This would typically occur when we have reason to suspect any misconduct, such as the presence of multiple accounts, potential market manipulation, or other activities that could be detrimental to the platform's integrity. Our goal is to strike a balance between respecting user privacy and maintaining the security and trustworthiness of our services, and this provision allows us to do just that when necessary.
You also indicated that you "do not process sensitive personal information," such as? And since you're compliant with the laws, what happens if you're legally required to collect KYC information and share them to authorities? You'd change policy right away, yes?
We hold a steadfast commitment to safeguarding your privacy and maintaining a minimal data collection approach. When we mention that we "do not process sensitive personal information," it essentially means that we abstain from gathering highly sensitive data, like social security numbers or passport details. The only information we do collect is the essentials required for account registration and security measures, which include your email, password, 2FA, and IP address. Furthermore, we take your data security seriously and utilize encryption via a trusted solution like
https://www.vaultproject.io/ to ensure the utmost protection. In the unlikely scenario where legal obligations necessitate the collection of KYC information and its sharing with authorities, rest assured that we would proceed with transparency and responsibility. Any policy adjustments would not be made abruptly. We would provide ample notice to our users, allowing them sufficient time to adapt to the changes. It's important to note that we have developed the technical infrastructure for such situations using
https://kycaid.com/, ensuring that we do not store any KYC data directly. Our aim is to keep you well-informed and involved in any policy changes required by legal compliance, all while maintaining our dedication to your data security and privacy.
In the event that an account owner forgets his/her password and lost access to the account, what would the process be in order to recover it? Would it be a simple email providing the lost password? What kind of verification would you perform?
We've designed a user-friendly process to help account owners recover their accounts in the event of a forgotten password or loss of access. To initiate the recovery process, users can simply utilize the password recovery option on our website. Once triggered, an email will be sent containing a one-time token, allowing users to reset their password securely. It's worth noting that if an account is protected with 2FA, users will need to provide the 2FA information when creating their new password. In cases where access to 2FA is lost, such as due to a new phone or a lost device, we have a dedicated support channel to assist. In such instances, you'll be required to provide additional information to verify your identity, ensuring the utmost security and protection of your account.