Collaborative Custody

Collaborative Custody: A Secure Solution for Bitcoin Multisig Vaults

collaborative custody

Collaborative custody services offer individuals the opportunity to create a multisignature vault for their bitcoins while maintaining full control over their assets. These services, also known as collaborative custody, involve a partnership between the user and a trusted service provider to establish a secure multisignature custody solution. By collaborating with professionals, users can ensure the safety of their bitcoins even in the event of a compromise or the disappearance of the service provider. On this page, we will explore the concept of collaborative custody, compare different service providers and discuss the advantages of using this approach for Bitcoin multisig vaults.

Compare Collaborative Custody Services

compare collaborative custody services

When considering collaborative custody services, it is important to review and compare the available options. Diversifying between different services can reduce the risk of losing all bitcoins at once in the unlikely scenario that something goes wrong.

All of these services are extremely secure and will teach you a lot about multisignature while setting up your vault. Below, we will explore the top collaborative custody providers in the market:

ProviderYearly PriceQuorumExtra ServicesHardware More InfoSign Up!
the bitcoin adviser collaborative custodyThe Bitcoin AdviserOn Request2-of-3Advise, Education, InheritanceColdcard, Trezor, LedgerMORE INFOCONTACT!
unchained collaborative custodyUnchained
Multisig Vault
FREE2-of-3
Business Vaults, Loans, Buy Bitcoin, Bitcoin IRA, Inheritance
Coldcard, Trezor, LedgerMORE INFOSIGN UP!
casa multisigCasa
Multisig Vault
Free – $0
Standard – $250
Premium – $2100
Free – Singlesig
Standard – 2-of-3
Premium – 3-of-5
InheritanceColdcard, Trezor, LedgerMORE INFOSIGN UP!
nunchuck assisted multisigNunchuck
Assisted Multisig
Free – $0
Iron Hand – $120
Honey Badger – $450
Free – Multisig Wallet
Iron Hand – 2-of-3
Honey Badger – 2-of-4
Multisig Wallet, Inheritance, Spending Conditions, Coldcard, Trezor, Ledger, Keystone, Passport, Blockstream Jade, TapsignerMORE INFOSIGN UP!

The Bitcoin Adviser

the bitcoin adviser collaborative custody

The Bitcoin Adviser’s collaborative custody offers a comprehensive balance of security measures for your Bitcoin assets. It operates on a three-key multi-signature system: You retain one key, a dependable Vault Provider holds another and the third key is with The Bitcoin Adviser. This setup guarantees no single entity can control your Bitcoin, as two out of three signatures are necessary for authorising any transactions. The model gives you exclusive command over two-factor authentication security for your Vault Provider account, ensuring sole authority over transaction permissions.

The collaborative custody model is compatible with trusted Bitcoin storage options like Coldcard, Trezor or Ledger, providing an assured and robust security solution for your Bitcoin assets. The method also incorporates a secure procedure for transferring your Bitcoin assets to chosen beneficiaries under unpredictable situations, with built-in measures to deal with lost or stolen keys. With The Bitcoin Adviser, enjoy the peace of mind that the security of your Bitcoin is as robust as the blockchain technology behind it.

Unchained – Open A Secure Multisig Vault For Free

unchained multisig vault

Unchained is a highly trusted company that offers a range of Bitcoin-related financial services. One of their offerings includes free 2-of-3 multisignature vaults, which are known for their exceptional security and ease of use. To create a vault with Unchained, the company provides one signing key, while the user can generate the other two keys using hardware wallets like Trezor, Ledger or Coldcard. Unchained also offers an open-source (?) and public coordinator called Caravan, which allows users to access their vault without relying on the Unchained website. This additional layer of accessibility provides users with confidence that they can always access their bitcoins. Even if Unchained is uncooperative.

Aside from multisignature vaults: Unchained offers collateralised loans, direct Bitcoin purchases into multisig vaults, Bitcoin IRAs and multisignature Bitcoin custody for corporate balance sheets. For users interested in taking a loan using their multisig vault as collateral, Unchained offers a multi-institution vault setup. The user holds one key, Unchained holds another key and a law firm holds the third key.

Casa Hodl – Anonymous Collaborative Custody Setup

casa multisig

Casa Hodl is another reputable provider of multisignature services. They offer different subscription levels, each with unique setups and additional services. The standard plan priced at $250,- per year. Provides a 2-of-3 multisignature setup. The premium plan priced at $2100,- offers a 3-of-5 setup. This plan comes along with extra services, hardware wallets and an inheritance plan.

With each subscription plan. Casa Hodl provides detailed instructions for the setup process, including guidance on how to recover bitcoins using public software in the unlikely event that Casa Hodl becomes unavailable. Casa Hodl prioritizes privacy and does not require Know Your Customer (KYC) verification for any of their plans.

Nunchuck Wallet – Assisted Multisig With Inheritance And Advanced Spending Conditions

nunchuck assisted multisig

Nunchuck is a mobile-friendly multisig wallet that can also be used on desktop. While the free plan offers basic functionality to set up multisig by yourself. The paid plans provide additional and impressive features such as spending conditions, inheritance and collaborative custody, known as assisted multisig. The Iron Hand plan costs $120 per year and grants access to a 2 of 3 assisted multisig with some extra features. On the other hand, the Honey Badger plan costs $450 and offers a 2 of 4 assisted multisig with inheritance and spending conditions included. With Nunchuck’s diverse range of options, users have the flexibility to choose a plan that best suits their needs.

What Is Collaborative Custody

what is collaborative custody

Collaborative custody services allow users to create a multisignature vault in cooperation with a third-party provider. The setup is designed to ensure that users retain control over enough private keys (?) to send and access their bitcoins. This means that even if the service provider is compromised or ceases to exist. The user’s bitcoins remain secure in their own hands. This smart architecture combines the security of self-custody multisig with the convenience of a custody service.

Benefits of Collaborative Custody

benefits collaborative custody

Collaborative custody offers several advantages for users looking to secure their bitcoins using multisignature technology. Let’s explore some of these benefits:

Easy and Foolproof Setup

Collaborative custody provides an excellent entry point for individuals who are new to multisignature technology. The setup process is straightforward and almost foolproof, allowing users to enjoy the support and guidance of the service provider. The user interface of collaborative custody services is often intuitive, resembling that of an regular exchange. In the event that a user forgets to store their redeem information, the service provider acts as a backup. Ensuring the safety of the user’s assets.

Simplified Backup Process

Backing up a multisignature setup can be complex, as it involves storing multiple private keys and the wallet configuration file securely. However, with collaborative custody, the backup process is simplified. The redeem information backup becomes less critical since the service provider also has access to this information. Additionally, users are not required to store as many private keys, as one or more keys are held by the provider. This simplifies the distribution of key backups and reduces the risk of losing access to the bitcoins.

Enhanced Flexibility and Additional Services

Collaborative custody services offer users greater flexibility in managing their multisignature setups. Users can arrange inheritance plans and take advantage of various financial services. For example, Unchained-Capital provides collateralized loans, allowing users to borrow against their multisig vaults. This flexibility opens up opportunities for users to leverage their bitcoins while maintaining security and control.

Global Accessibility

One of the standout features of collaborative custody services is the accessibility of the provider’s key. Users can request a signature from the provider from anywhere in the world, making it particularly convenient for individuals who frequently travel. This level of accessibility ensures that users can manage their bitcoins remotely, regardless of their physical location.

Conclusion

Collaborative custody services offer individuals a secure and convenient way to create multisignature vaults for their bitcoins. By collaborating with trusted service providers. Users can benefit from enhanced security, simplified backup processes and access to additional financial services. Whether you are new to multisignature technology or an experienced Bitcoin enthusiast, collaborative custody provides a reliable solution for safeguarding your digital assets. Choose the service provider that aligns with your needs and take advantage of the benefits of collaborative custody for your Bitcoin multisig vaults.

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