0 sats \ 2 replies \ @tmoney 2 Feb 2023 \ parent \ on: Prime Trust Lays Off One-Third of Staff bitcoin
Currently in the locking period to withdrawal. It really sucks. They are lessening the risk for themselves by having these long ass locking periods while passing more risk to us. Definitely want bitcoin only companies to succeed but have been disappointed by my experience with them.
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0 sats \ 1 reply \ @pleb349 3 Feb 2023
Thats crazy. With Unchained multisig, you can just move your BTC out of their "vaults" any time you like. It is just a normal on-chain transaction that you control.
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0 sats \ 0 replies \ @tmoney 3 Feb 2023
I think that's not exactly an apples to apples comparison. With Swan its just like buying bitcoin with a normal exchange and then waiting a certain period before you can withdraw (so that Swan can protect itself from fraud). It's just that their waiting period is longer than normal so it's exposing me to to more counter party risk (aka Prime Trust going bankrupt). I like to withdraw my BTC asap. Here's a link to their locking periods: https://help.swanbitcoin.com/hc/en-us/articles/360044722794-Why-is-my-Bitcoin-waiting-to-unlock-How-long-until-I-can-withdraw-my-coins-. For a multisig like Unchanged, it sounds like you already bring the bitcoin rather than buying it with fiat directly into a multisig account.
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