Join Our Telegram channel to stay up to date on breaking news coverage
In a groundbreaking move, Casa, a leading Bitcoin wallet provider, has expanded its services to include Ethereum vaults. The company’s latest offering aims to provide ETH holders with a more secure and user-centric approach to managing their funds.
Casa Revolutionizes Crypto Security with Ethereum Vaults
The crypto community often emphasizes the importance of controlling one’s private keys, as the saying goes, “Not your keys, not your coins.”
Recognizing the need for greater self-custody options, Casa empowers users to safeguard their assets independently, reducing reliance on third-party exchanges notorious for their vulnerability to hacks and mismanagement.
Casa’s decision to incorporate Ethereum was driven, in part, by the significant overlap between Bitcoin and ETH ownership. According to a survey conducted by Grayscale Investments in 2021, 87% of Bitcoin investors also hold other cryptocurrencies, with Ethereum being a popular choice.
Casa initially unveiled its plans to expand into the Ethereum market last November, and today, those plans have become a reality. Recent incidents, such as the downfall of the FTX exchange in November, have highlighted the recurring failures of third-party intermediaries in the crypto industry.
💫 Your ethereum multi-key vault has arrived!
🔒 Now, you can secure your $ETH without worrying about single points of failure like thefts, hacks, and accidents.
🫂 The new $ETH vault lives alongside your existing and secured $BTC.
Learn more👇https://t.co/KzgrH5hVU8 pic.twitter.com/uFjvHGf2Xg
— Casa (@CasaHODL) June 21, 2023
FTX users experienced the distressing revelation that their funds had been tapped for unauthorized purposes, leaving them uncertain about the recovery of their assets during the exchange’s ongoing bankruptcy process.
By advocating for self-custody, Casa reintroduces control and responsibility to the hands of users, effectively mitigating the risks associated with frozen, misused, or stolen assets resulting from exchange malfunctions.
Self Custody May be the Future – Nick Neuman
Casa CEO Nick Neuman explained that reducing reliance on third parties by taking self-custody and holding private keys is the future of money management.
In contrast to traditional setups where a single private key secures the user’s ETH or BTC, Casa employs multi-signature technology, which utilizes multiple keys to enhance fund security.
The company predominantly utilizes a two-of-three multi-signature arrangement, necessitating the use of two out of three keys to authorize fund transfers.
This configuration effectively thwarts hackers since obtaining just one key proves futile in redirecting funds. Furthermore, absent-minded users benefit from the additional safety net as the loss of two keys becomes imperative for permanent asset loss.
Casa’s commitment to simplifying the self-custody experience dispels the common apprehension among users who may feel overwhelmed by the responsibility of securing their own funds.
Neuman assured users that Casa’s app simplifies the process by offering clear visibility of their key health and guiding them through key replacement in the event of loss or theft.
The intuitive interface mirrors the convenience of traditional banking apps, while Casa’s unwavering support and guidance ensure a seamless journey for all users.
For those with substantial holdings seeking an extra layer of security, Casa presents an elite plan that boasts a five-key vault equipped with video verification and emergency support.
This premium offering caters to the needs of high-value investors, reinforcing Casa’s commitment to safeguarding its clients’ assets.
Casa’s bold expansion into Ethereum and the introduction of its innovative vault technology mark a significant milestone in the evolution of crypto security.
With an unwavering focus on self-custody, Casa paves the way for a future where individuals have full control over their digital wealth, ensuring a safer and more reliable financial landscape.
Qredo Enhanced Self-Custody Wallet Platform Redefines Crypto Custody Standards
Casa isn’t the only firm prioritizing self-custody services as other companies in the space continue to push for better support from the service.
One such notable crypto storage firm Qredo had launched an upgraded self-custody wallet platform, catering to institutional traders seeking a secure and cost-effective solution.
The New Qredo, announced on May 30, incorporates multi-party computation (MPC) through clever key sharding technology, offering enhanced team permissions and approval processes.
In the aftermath of high-profile collapses like FTX and other centralized platforms, the demand for complete control over digital assets has surged.
Qredo’s Chief Operating Officer, Josh Goodbody, emphasized the need for an open-source custody system that is accessible to all, unlike the current gate-kept offerings of industry giants such as Copper and Fireblocks.
Qredo, with 85,000+ global users and 350 institutional clients, has developed custody and wallet products for four years. The platform handles $4 billion monthly in asset movements, peaking at nearly $6 billion after the FTX collapse.
In the past year alone, Qredo facilitated close to $30 billion in crypto asset movements.
The New Qredo launch revolutionizes self-custody solutions, democratizing institutional-grade custody and wallet management. Traders gain unprecedented control over digital assets, fostering trust in decentralized finance.
Qredo’s open-source and affordable approach makes them a game-changer in crypto custody.
Related News
PlayDoge (PLAY) - Newest ICO On BNB Chain
- 2D Virtual Doge Pet
- Play To Earn Meme Coin Fusion
- Staking & In-Game Token Rewards
- SolidProof Audited - playdoge.io
Join Our Telegram channel to stay up to date on breaking news coverage
