Who is Bakkt?
When you buy, sell, or hold cryptocurrency through the Longbridge platform, you are also opening and maintaining a separate account with Bakkt Financial Solutions I, LLC (“Bakkt”), NMLS ID 1890144. Bakkt holds a New York State virtual currency license issued by the New York State Department of Financial Services and money transmitter licenses in U.S. states where required. Bakkt is not a registered broker-dealer or a FINRA member.
Note that your Bakkt crypto account is separate from your brokerage account with Longbridge Securities LLC, which holds your investments in US-listed stocks and ETFs. Longbridge Securities LLC is a registered broker-dealer and FINRA member. Crypto assets held in your Bakkt account are separate from assets held in your Longbridge Securities LLC brokerage account and are not protected by SIPC or FDIC insurance.
How do I get started with crypto at Bakkt?
During setup of your Longbridge account, a Bakkt account will automatically be opened if you choose to enable cryptocurrency trading. You will then be able to submit trades to Bakkt for execution, and view your crypto assets held in your Bakkt crypto account, via the Longbridge platform.
Where can I learn more about Bakkt, including my Bakkt crypto account’s legal documentation?
https://bakkt.com/user-agreement-longbridge/
https://bakkt.com/privacy-policy
Can I access my Bakkt crypto account or place crypto trades directly with Bakkt on their website?
No. Longbridge works with Bakkt to provide access to Bakkt’s cryptocurrency services through the Longbridge platform. Your Bakkt crypto transactions and account information are accessed through the Longbridge platform.
Do I have access to a private key of my Bakkt crypto account?
No. Bakkt holds your crypto assets on your behalf. You do not manage or control the private keys associated with those assets.
Crypto assets are held in trust for Bakkt’s customers (“Your crypto, not Bakkt’s”).