Privacy Policy

Introduction

This Privacy Policy outlines how Simple Finance LTD (hereinafter, “Simple Finance LTD”, “Cyclebit”, “we”, “us”, “our”) collects, uses, shares, and protects Personal Information you provide us during the usage of https://secure.cyclebit.io/ or our products. Personal information in the following paper is any of the data that can be used directly or indirectly to identify you.

At Cyclebit, we are committed to safeguarding the personal and financial information in an area of cryptocurrency payments and we fully understand the importance of trust and transparency when it comes to your privacy.

The following paper regulates what type of data is required by the service, how it is stored and shared, why it is needed, who has access to your information and what rights users have.

Contact Information

Simple Finance LTD is a private limited liability company organized and existing under the laws of the Republic of the Marshall Islands, legal entity code 59613, registered office address at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960 (hereinafter referred to in this document as “Cyclebit”, “Company”, “we”, “us” or “our”).

Please contact us at [email protected] if you have any questions or issues related to data protection.

Information We Collect

Our service collects various types of data to ensure seamless transaction processing, enhance user experience and comply with the legal framework of your country. The following information details are collected when users visit our website or any of our services; fill out any forms; register on the service; provide information if necessary according to the legal requirements; pass AML procedures or take any action directly required by the service.

In order to create a personal account, such information as your name, store name, time zone, region, currency, email is needed. While adding an employee, employee’s name and email are required. For agents, fields with name, email, region and time zone are filled out.

We also need financial information to process the transaction, contacting information to address you when needed and identification documents for legal purposes.

The full list of data that may be requested:

Personal Information

• Name;
• Date of Birth;
• Place of Birth;
• Nationality;
• Gender;

Contact Information

• Full residential address;
• Mailing address;
• Phone Number;
• Email Address;

Identification Documents

• Government ID Number;
• Passport Number;
• Driver’s License Number;
• National ID Card Number;
• Proof of Address;
• Expiration Date;
• Issuing Authority;

Financial Information

• Bank Account Details;
• Source of Funds;
• Tax Identification Number (TIN);

Employment Information

• Occupation;
• Employer’s Name;
• Employment Status;
• Business / Work Address;

Additional Information

• Political Exposure;
• Marital Status;
• Spouse / Partner Information;
• Dependents;
• Previous Addresses;

Cookies

Most information that is collected by our service is provided by you directly. Please note that the amount of necessary data may vary and we may request additional information and documents according to legal requirements or for KYC and anti-money laundering purposes.

Why We Use Your Information

Cyclebit uses your information for several reasons:

• to identify you and distinguish from other users of our service;
• for general improvement, statistical and analytical purposes and analysis;
• to prevent illegal activity, fraud and losses;
• to provide our clients efficient, secure and personalized user support;
• to comply with law, including Know-Your-Customer (KYC), Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) requirements;

Third Party Access

• Authorized third-party vendors and service providers

We may share your information with third-party vendors and service providers who assist us in providing specialized services, including billing, payment processing, customer service, email deployment, business analytics, marketing, advertising, performance monitoring, hosting, and data processing. These third parties are only permitted to process your data for the specified purposes, and only when such processing is based on a lawful ground under GDPR, such as fulfilling a contract or our legitimate interest. All third parties are contractually obligated to comply with GDPR requirements, ensuring that your personal data is handled securely and in accordance with this policy.

• Corporate affiliates

We may share your information with our corporate affiliates, who are required to treat your information in accordance with this Privacy Policy. If any affiliate operates outside the European Economic Area (EEA), we will ensure that adequate safeguards are in place, such as the use of Standard Contractual Clauses, to ensure compliance with GDPR.

• Business transfers

In the event of a substantial corporate transaction, such as a merger, acquisition, consolidation, asset sale, or in the unlikely event of bankruptcy, your personal information may be transferred as part of that transaction. If such a transfer occurs, we will notify you and ensure that the new entity continues to protect your information as described in this Privacy Policy or provides equivalent protections in line with GDPR.

• Legal purposes

We may disclose your information when required to do so by law, such as to comply with subpoenas, court orders, legal processes, or government requests. We will only disclose information where such disclosure is necessary and proportionate in response to legal requirements. We may also disclose your information to protect the rights, interests, health, safety, or security of Cyclebit, our affiliates, users, or the public in accordance with applicable laws.

• With your consent or at your direction

We may share your information for any other purposes disclosed to you at the time of collection or based on your consent. Where consent is the legal basis for processing, you retain the right to withdraw your consent at any time, without affecting the lawfulness of processing based on consent before its withdrawal.

Data Security

Cyclebit takes all the possible measures to protect user’s personal data from unauthorized access by third parties. We guarantee that we do not sell user’s data for a monetary reward.

Our service makes sure not to store your information for longer than it is necessary. We will keep it for a maximum period of five (5) years after termination of legal relationships with our service.

Cyclebit keeps your personal data to protect mutual legitimate interests, to comply with our legal obligations and resolve disputes in case they occur.

User Rights

You have a right to request from us:

• an access to your personal information;
• to update your information if it is inaccurate or incomplete;
• to limit the access to your information if you believe that we are not entitled to use your data and you want it to be deleted or to object to its processing;
• to transfer data to you or to another organization.

Cookies and Tracking Technologies

Our service uses cookies and similar tracking technologies to identify you and to remember your choices and preferences. By using our service, you consent to the use of cookies in accordance with this policy. You may control or delete cookies through your browser settings; however, disabling cookies may affect the functionality and performance of our services. When you fill out forms that require your information, cookies may be set to use the following details for future correspondence.

Cyclebit uses the following types of cookies:

• Essential Cookies that are necessary for the operation of our service, enabling such functions as logging in and payments processing;
• Performance and Analytics Cookies that help us optimize the platform and improve your experience;
• Advertising and Targeting Cookies that are used to deliver relevant and effective advertisements.

International Data Transfers

At Cyclebit, we are committed to safeguarding the privacy and personal data of our users. This privacy policy explains how we process and transfer personal data in compliance with the General Data Protection Regulation (GDPR) and other applicable laws. Our company is based in the Marshall Islands, with data storage and processing occurring on servers located within the European Union.

As part of our operations, Cyclebit may collect personal data from individuals located in various jurisdictions, including the European Union. This data is transferred to and processed on servers within the European Union. In accordance with GDPR Article 44 and the data protection laws of the Republic of the Marshall Islands, we ensure that all international data transfers are conducted securely and lawfully.

Changes to This Policy

Cyclebit may introduce amendments to the current Policy at any time. The updated version will be published on the website. The user is responsible for periodically reviewing this document.