Amidst all the bank failures, web3 hacks, and custodian collapses of the last year, “one thing is clear: self-custody is the only security model you can truly count on,” the team at Casa noted in a recent update.
The best defense for your ether against rising custodial risk is “holding your own private keys in a multi-key vault, which protects your assets against accidental key loss, theft, or device failure,” the team at Casa wrote in a blog post.
Casa is now pleased “to announce that members can now secure their ether (ETH) with their Casa vault.”
Casa claims it is “the first and only place to manage both BTC and ETH multi-key vaults in one simple app, so you don’t have to split up your self-custodied assets between multiple providers.”
Introducing Casa’s brand-new ethereum vaults
Casa vaults are “designed with the principles behind multisig, a security protocol that requires authentication from multiple devices (keys) before assets can be sent to another address. With ETH, this process is performed through smart contracts.”
This distributed security model “prevents your ETH from being lost or stolen from one incident alone — so if you make a mistake and lose a key, or your hardware device stops working, you don’t lose all your money.”
Their multi-key vaults “provide improved security over a single-key hardware or software wallet.”
With Casa, you reportedly “have multiple levels of security and convenience available all in one place.”
From a simple mobile wallet “where you can send ETH with just your phone, to high-security vaults that require approval from multiple keys, you can personalize your security just like you would with a bank.”
With your personal vault, you can:
- Send and receive ETH
- Replace a lost or stolen key without losing assets
- Create and manage a subaccount
- Perform recurring health checks on your keys
- Access our industry-leading member support (available 24/7 with Premium and Private Client plans)
Their vaults provide you “with a secure home for your ETH and BTC, so you have peace of mind that your assets are safe.”
Self-custody is the future of ownership
As noted in the update from Casa:
“For most of recorded human history, we have had to rely on third parties to hold our most valuable assets. But with the invention of bitcoin, we discovered a practical way for people to use cryptography to create a self-custodial security model that is as robust as the security of any third party — without needing to trust that third party to do the right thing.”
The firm added:
“In the last year, we’ve seen some exchanges steal their customers’ money, others implode due to mismanagement of risk, and even legacy banks fail, all of which have caused people to lose access to their own money. Self-custody is the clear answer; it’s a complete disruption in personal property rights. When you hold your own keys in cold storage, you have proof of ownership, a tool that empowers individuals and communities alike.”
For too long, ETH investors “haven’t had a simple and secure way to hold their own keys, leading to disastrous consequences far too frequently.”
Casa claims that it is changing that, so you “don’t have to make tradeoffs between feeling safe and actually being safe by protecting your assets yourself.”
Meet your new Casa membership
Self-custody is “for everyone, and there’s a Casa membership for every ETH investor.”
They’ve introduced new membership plans “to guide you through self-custody, all of which come with the opportunity to secure BTC as well.”
Your security should “increase as your investment increases, and these plans allow you to develop your protection over time.”
Secure ETH with any of the following:
- Free: A first step on the path to self-custody
- Standard: Essential asset protection for individuals (3-key vault included)
- Premium: Superior asset protection for individuals and families (5-key vault included)
If you or your family are securing substantial holdings, “it’s prudent to consider a bespoke security plan.”
These investors can “access complete asset protection as a Casa Private Client.”
This unique offering comes “with legacy planning options, personal consultations, and exclusive security features for a holistic self-custody experience.”
Plan your legacy with ethereum inheritance
If you plan to hold your ETH “for an extended period of time, it’s smart to set up some contingencies.” Having a clear, documented inheritance plan is “a critical step for ensuring the long-term security of your assets.”
Casa’s “industry-first” bitcoin inheritance offering has been “expanded to include ethereum.”
This service, available “for Casa Private Clients, allows you to designate a Recovery Custodian to receive your ETH upon your death.”
Depending on your personal circumstances, you may prefer “to comanage your assets here and now with someone you trust.”
Premium members have the option “to share account access with another individual.”
If either partner should pass away, the Casa account “will transfer to the other partner in full.”
These features provide Casa members “with the flexibility they need to navigate the complexities of estate planning.”
Taking a long-term approach is essential to practicing self-custody, and wealth transfer isn’t a matter of if — “it’s a matter of when.”
Consider developing an ethereum inheritance plan “wherever you are in your crypto journey.”