Tapbit Proof of Reserves & Asset Backing

A Tapbit reserves audit is a comprehensive and independent examination conducted by a third-party security firm. Its purpose is to verify that Tapbit holds sufficient crypto assets to cover all user balances on our platform. This process confirms our 1:1 Tapbit asset backing, ensuring that for every unit of cryptocurrency a user holds with us, there is a corresponding unit held in our secure reserves.

The Tapbit reserve verification process utilizes a cryptographic proof system known as a Merkle Tree. This advanced method allows us to prove our total holdings without revealing individual user data. More importantly, it empowers you to independently verify that your specific account balance is included in the proof. This self-serve verification provides undeniable evidence that your funds are part of our audited reserves.

Tapbit asset backing is your guarantee of solvency and security. It means we operate on a full-reserve basis and do not use customer funds for any operational purposes. This 1:1 backing, confirmed by the regular Tapbit reserves audit and ongoing Tapbit reserve verification, ensures that your assets are protected from counterparty risk and are always available for withdrawal, even during extreme market volatility.

In addition to our full Tapbit asset backing, we maintain a $50 Million USDT insurance fund as an extra layer of protection. This fund is designed to safeguard your digital assets and guarantee full reimbursement in the unlikely event of a security breach that is not covered by our standard reserves. It's another pillar of our commitment to being the most secure crypto derivatives platform.