Privacy Policy
Last updated: 22 October 2026
Velxen (velxen.com, the Velxen app for Android and iPhone, and Velxen Pulse) is operated by Velxen ("Velxen", "we", "us"), Nigeria. Velxen serves customers in African countries. This policy explains what personal data we collect, why, who we share it with, how long we keep it and the rights you have, including under the Nigeria Data Protection Act 2023.
1. Data we collect
| Type | Examples | Why |
|---|---|---|
| Account | Email address, username, password (stored only as a secure hash), profile picture choice, preferred currency, Google account ID if you sign in with Google | To create and secure your account |
| Identity (KYC) | Full name, date of birth, nationality, a government-issued ID (for example a national ID card, international passport, driver's licence or voter's card) with its number, photos of the ID, a selfie or face check (where required), and the verification result | To verify who you are, as the law requires for financial services, and to prevent fraud |
| Financial | Balances, deposits, withdrawals, wallet addresses, trades, conversions, transfers between users, P2P orders and the bank or mobile-money details you add for P2P, payment receipts you upload | To run your account and transactions, and to keep records the law requires |
| Security & device | IP address, approximate country (from the IP), device and browser type, sign-in times, active sessions, two-factor settings | To protect your account, stop fraud and show features available in your country |
| Communications | Messages to support, emails we send you, notifications | To answer you and tell you about your account |
We do not sell your personal data, we do not use it for advertising, and we do not track you across other companies' apps or websites.
2. Legal bases
We process your data to perform our contract with you (running your account), to meet legal obligations (identity checks, anti-money-laundering and record keeping), for our legitimate interests (security, fraud prevention, improving Velxen) and, where needed, with your consent (for example, optional marketing emails, which you can stop at any time).
3. Who we share data with
- Identity verification provider, to check your ID and, where required, your face against your ID.
- Our trading and custody partner, an established global digital asset exchange that executes trades and holds customers' digital assets in custody, and which runs its own customer and anti-money-laundering checks: only the data it needs for that.
- Service providers that host and protect our systems (servers, Cloudflare), send our emails and notifications, under contracts that protect your data.
- Other users, only when you trade P2P: the other party sees your username and the payment details you chose to show for that order.
- Authorities, when the law requires it (for example a court order or a regulator's lawful request), and to prevent fraud or crime.
Some providers may process data outside Nigeria. When that happens we use safeguards required by the Nigeria Data Protection Act.
4. How long we keep data
We keep your data while your account is open. When you close your account we delete your profile details straight away, but we must keep identity and transaction records for at least 5 years after the account is closed (anti-money-laundering law), after which they are deleted. Security logs are kept for a shorter period.
5. Your rights
You can ask to access, correct or delete your data, object to or restrict some processing, withdraw consent and receive a copy of your data. You can close your account at any time in the app (Profile → Close account) or on the website (Profile → Close account). To use your other rights, contact us at velxen.com/contact. You can also complain to the Nigeria Data Protection Commission (NDPC).
6. Security
We use encryption in transit (HTTPS), hashed passwords, encrypted storage of ID photos, two-factor authentication, device sign-in alerts and strict staff access controls. No system is perfectly secure: keep your password and authenticator codes private. Velxen staff will never ask for your password or codes.
7. Cookies and app storage
We use only what the service needs: your sign-in session, security checks and preferences (such as language, theme or hidden balances). We do not use advertising cookies.
8. Children
Velxen is for adults aged 18 and over. We do not knowingly collect data from anyone under 18.
9. Changes
If we change this policy we will update the date above and tell you about important changes in the app or by email.
10. Contact
Velxen, Nigeria · velxen.com/contact