Vault is a multi-signature Bitcoin custody service.
Keys are distributed across multiple jurisdictions and held by independent entities, with insurance underwritten by Lloyd's of London, resulting in institutional-grade Bitcoin storage.
Vault also includes the ability to enable custom identity verification requirements before any transaction can be executed.
What is multi-signature custody?
Multi-signature (multi-sig) is a method of securing your Bitcoin that requires multiple keys to unlock funds or approve transactions, eliminating a single point of failure.
Who holds the keys?
CoinCorner will hold one key, and we have teamed up with AnchorWatch to hold the other key. This means not only are your funds secured by multi-sig, but by two independent entities in two different jurisdictions. This results in institutional-grade security for your Bitcoin.
Is my Bitcoin insured?
Yes, Bitcoin within your Vault is insured, with insurance underwritten by Lloyd's of London.
What are the fees?
The fee for using Vault is 1.5% APR, billed monthly. This fee is calculated and charged on the first day of each month, based on the amount of Bitcoin in your Vault.
Is my Bitcoin lent out or used for anything else?
No, we never lend your Bitcoin out or use it for any other purpose.
Is there any additional security?
Yes, we offer the option of enabling custom identify verification that is required before any transaction can be executed. If you decide to enable this, our support team will get in touch with you to set it up.
What happens when I add more Bitcoin to my Vault?
You can transfer Bitcoin into your Vault anytime, but any Bitcoin added after the first day of the calendar month will not be added to your Vault balance until the following month.
What happens when I remove Bitcoin from my Vault?
When you transfer Bitcoin out of your Vault, it will be moved back to your regular CoinCorner Bitcoin balance instantly. Any Bitcoin left in your Vault will remain secure and insured.
Have any questions? Get in touch!