Sending funds to an exchange involves trust – and users deserve a clear record of what their exchange has committed to do. With our new Letter of Guarantee feature, BitcoinVN puts that commitment in writing, giving customers a document they can retain and refer to if questions arise about their swap. It is a practical step towards greater transparency and accountability, placing a record of our commitment directly in the customer’s hands.
The Letter of Guarantee provides a digitally signed record of your swap details and addresses. You can verify that it was issued by BitcoinVN and has not been altered.
Recent security research has documented active campaigns using address-swapping malware to redirect users’ funds. When an address is substituted, two very different things may have happened:
- A dishonest exchange changes payment details and blames the customer.
- Malware on the customer’s device replaces an address, without any wrongdoing by the exchange.
By preserving the details BitcoinVN signed, the letter makes subsequent alterations detectable. It provides a verifiable record of the original payment instructions, helping resolve disputes by comparing the signed instructions with the actual payment.
Always check the addresses before sending funds. The signature authenticates the recorded details; it cannot establish whether malware changed an address before it was submitted.
BitcoinVN’s Letter of Guarantee: How It Works
You can save your Letter of Guarantee before sending funds. On an eligible order’s page, click “Letter of guarantee” at the bottom of the order card, then select “Download letter”. The downloaded letter is an OpenPGP-signed text file.
Keep the original file alongside your order ID and payment records.
To verify its digital signature, expand “How to verify this letter” in the same window. Select “Download public key”, then use OpenPGP software to verify the downloaded letter. Confirm the key’s fingerprint through a separate, trusted source.
Before paying, check that the letter’s payout address matches your intended receiving wallet and that the payout asset and network are correct. Also check that your outgoing payment uses the recorded deposit address, asset and network. Resolve any discrepancies before sending funds.
The letter preserves your order’s original details and payment terms. It remains unchanged if the order changes, so always consult the order page for current instructions and status. It is not a payment receipt or an unconditional promise of the quoted payout.
Our Commitment, Recorded and Signed
If questions arise about an order’s payment instructions, the Letter of Guarantee provides a verifiable reference. It records the deposit address BitcoinVN originally assigned and the payout destination recorded for that order. Comparing these details with the actual payment records can help clarify address mismatches and resolve disputes, backed by cryptographically verifiable, tamper-evident evidence of the original instructions.
The scope of that guarantee matters: BitcoinVN’s digital signature authenticates the original order details and payment terms. It does not confirm that funds were received or promise an unconditional payout regardless of timing and amount. The letter also remains unchanged if the order is subsequently amended; the order page provides the current instructions and status.
By putting a signed record directly in customers’ hands, BitcoinVN makes its original instructions independently verifiable and strengthens accountability. Before sending funds, open “Letter of guarantee” on your order page, download the letter and check its signature and details. Keep it alongside your payment records so you have a clear reference if you ever need one.
BitcoinVN – Twelve Years of Service
BitcoinVN has been pioneering in the Bitcoin & Digital Asset space as an operator since early 2014 – launching back in the day the first Bitcoin Exchange Service in Vietnam.
While our service range has since shifted, expanded, contracted and moved into new areas as the industry developed and market forces and regulatory requirements evolved, we’re glad to still be of service to our user base 12 years on.
This longevity in service of our clients would not have been possible without dedication to our loyal client base – and to providing them with a convenient, smooth and reliable service.
We appreciate your continued support and feedback – and, in this case, also thank our partners at OrangeFren who suggested this specific feature addition in order to give our user base more confidence when executing swaps through the BitcoinVN platform.
If you would like to give us a review, you can do so here, here or here.
