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Wildfires, insider fraud, travel restrictions, SIM swaps, malware.
There is a lot to consider when securing your bitcoin, and it can feel overwhelming.
Luckily - Casa’s got your back. Here’s how we help our clients think through where to place their #Bitcoin
keys.
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There is a lot to consider when securing your bitcoin, and it can feel overwhelming.
Luckily - Casa’s got your back. Here’s how we help our clients think through where to place their #Bitcoin
keys.1/
A refresher on Casa’s security model:
At our highest security level, you have 5 keys, and 3 are needed to access your bitcoin.
2 are secured for you:
1 held on your phone w/encrypted backup
1 held by Casa - available for signing with video verification
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At our highest security level, you have 5 keys, and 3 are needed to access your bitcoin.
2 are secured for you:
1 held on your phone w/encrypted backup 1 held by Casa - available for signing with video verification2/
The other 3 keys are on hardware wallets, and you decide where to keep them.
With proper placement, no single risk can cause you to lose funds.
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With proper placement, no single risk can cause you to lose funds.
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Here are the risks that should be top of mind:
Human (theft, robbery, mistakes)
Environmental (weather, fires, earthquakes, EMP)
Political (seizure)
Institutional (insider theft)
Access (can I safely travel to my keys?)
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Human (theft, robbery, mistakes) Environmental (weather, fires, earthquakes, EMP) Political (seizure) Institutional (insider theft) Access (can I safely travel to my keys?)4/
Here are our default recommendations for where to locate your keys:
1 key at home
1 key at an alternate location (office or vacation home - the further away the better)
1 key at an access-controlled location (vault service or safe deposit box)
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1 key at home 1 key at an alternate location (office or vacation home - the further away the better) 1 key at an access-controlled location (vault service or safe deposit box)5/
We also recommend these ground rules for each location:
It’s under lock & key (ideally in a safe w/a non-digital lock)
You can access it at least once a year
It has NO known overlapping environmental risks w/other keys (i.e. not same fault line or floodplain)
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It’s under lock & key (ideally in a safe w/a non-digital lock) You can access it at least once a year It has NO known overlapping environmental risks w/other keys (i.e. not same fault line or floodplain)6/
No single location is perfect …
Home - protects against institutional risk, but has theft risk Alternate location - protects against $5 wrench attacks, but risk you may not be able to access it Vault - strong env. protection, but risk of insider theft7/
The mix of each location type’s strengths, and the implausibility that all 3 weak points will be exploited simultaneously, keep your #Bitcoin safe.
Far safer than entrusting all your funds to a single third party, or protecting them at one location.
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safe. Far safer than entrusting all your funds to a single third party, or protecting them at one location.8/
Two notes in closing:
1 - Every key placement plan is unique. We work closely with our clients to help them develop their personal threat model.
2 - Casa will never ask for or record your specific key locations. This is for your safety and ours.
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1 - Every key placement plan is unique. We work closely with our clients to help them develop their personal threat model.
2 - Casa will never ask for or record your specific key locations. This is for your safety and ours.
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And finally:
Key placement is not a ‘set it and forget it’ operation.
This is especially true in 2020.
While keeping keys in different jurisdictions may have been popular 9 months ago, restrictions have made it difficult to access remote keys.
https://blog.keys.casa/multisig-in-a-pandemic/
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Key placement is not a ‘set it and forget it’ operation.
This is especially true in 2020.
While keeping keys in different jurisdictions may have been popular 9 months ago, restrictions have made it difficult to access remote keys.
https://blog.keys.casa/multisig-in-a-pandemic/
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One of the most important things we do is work with clients to develop their threat model and keep it up to date.
If a key is inaccessible or lost permanently, Casa is on standby to send you a factory fresh hardware wallet overnight and guide you in re-locating it.
Fin/
If a key is inaccessible or lost permanently, Casa is on standby to send you a factory fresh hardware wallet overnight and guide you in re-locating it.
Fin/
Curious to learn more about how we work with our Platinum and Diamond clients?
(Or just want pick up some free tips on #Bitcoin key security :)
Book a call now with our Client Services team: https://calendly.com/casa-client-services/call-with-an-expert?month=2020-09
(Or just want pick up some free tips on #Bitcoin
key security :) Book a call now with our Client Services team: https://calendly.com/casa-client-services/call-with-an-expert?month=2020-09
