About Us

Welcome to the public beta of altilly.com

altilly was initially a side project, an idea that grew into fruition. We are currently in public beta mode. Everything works, everything is real. If you see a problem, then let us know immediately. We've built the core parts of altilly from the ground up, using methods that many other cryptocurrency exchanges have probably not caught up with yet.

Currently, altilly maintains physical presence only in the form of computer server equipment and data storage. We take great lengths to ensure a complete security lockdown of our systems using multiple layers of firewalls and internal networking. Our safe storage is completely off network and stored in a secured facility. Each time we move cryptocurrency funds to safe storage, we use a new address/private key. When and if we need to move funds from safe storage to the live wallets, we will only retrieve the key with a balance that matches the demand. All of our safe storage and withdrawal wallet public keys (addresses) are signed and available on our system status page for you to monitor and verify. For deposit and withdrawal wallets, each daemon is run by an uniquely assigned non-rootable user. This gives each wallet it's own operating environment that can not disturb or read information from other wallets. We use long random strings for wallet usernames and passwords that are unique to each wallet and this information is stored as encrypted data. Our system will automatically lockdown any wallet which reverses it's chain and we scan posted transactions for reversal as well.

altilly believes that users of cryptocurrency should be able to trade easily and quickly with other users. During the public beta there are no pre-set limits on how much you can exchange, deposit, or withdrawal; however very large withdrawals may require additional time if those funds are stored in the safe or require manual approval. During the public beta, there is no need to get verified unless we request it from you.

altilly does not transact in any government issued currency (fiat currency). We do not offer any services to buy or sell with a credit card or your bank account. All exchange transactions in our system is strictly between digital currencies. We do not own or maintain any bank accounts and all employees are paid in cryptocurrency.

altilly believes that collection of personal information should be kept to a minimum. To open an account, you only need to provide your name and an email address. We do request that you use your real name, which will make it easier to restore your account in the event you lose access. We do not share any information we collect with any outside parties.

altilly will strive to be as transparent as possible with regards to your cryptocurrency deposits held on account. You can view our system status page for a detailed overview of where and how we store cryptocurrency.

After the public beta (Likely Q4 - 2018)

We anticipate to exit from public beta by the end of 2018. We are currently investigating several countries in which to incorporate and receive proper licensing for the activities we engage in. We do not currently plan to transact in any Fiat currency, but this could change depending on the licenses we are able to attain.

We also anticipate that there may be certain AML/KYC requirements for wherever we are registered. We will ensure to give proper notice to anybody this might effect before the public beta period is over.

About the founder

Michael Osullivan is an Electrical Engineer and an early investor into Bitcoin. He is from the UK and currently spends most of his time in Hong Kong and Singapore. Several years ago, he grew tired of watching his retirement savings slowly trickle upward and decided to take half of his savings and invest into Bitcoin. He never sold, and continued to split his monthly savings between traditional savings and Bitcoin. This plan worked out well, as his Bitcoin portfolio is currently worth about 50x that of his traditional savings. Toward the end of 2017, Mike decided to take an early retirement. After retiring, Mike saw the need for more transparency on exchanges. In particular, the users need to be able to verify that the exchange is actually keeping their deposited funds safe. Mike decided that he would attempt to make such an exchange, using some of the money earned from his Bitcoin investments. The ideology is simple: An exchange that has all the common features people want (Fast execution, easy to use, good API's, advanced order types) as well as full wallet (Assets) and customer funds (Liabilites) transparency.