AnchorWatch is a pioneering insurance provider specializing in collaborative bitcoin custody. It combines the advanced security features of Trident Vault with insurance from Lloyd's of London syndicates. The service is currently available for retail and commercial customers in the United States.
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0 sats \ 0 replies \ @ZezzebbulTheMysterious 13h
Bitcoin insurance will always blow up. Inevitably, all custodians will lose access to keys.
The custodial provider must be trusted not to lose the keys, but the history of cryptocurrencies is full of breaches of that trust.
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0 sats \ 5 replies \ @Satosora 7 Jan
This insurance lets them have a multisig so that they cant use it by themselves.
But doesnt that defeat the purpose of bitcoin?
You cant just use it whenever you like and you are chained to your insurance provider.
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32 sats \ 3 replies \ @south_korea_ln OP 7 Jan
I would imagine it has its usecase for long-term holders who do not plan on spending their stack in the short-term?
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0 sats \ 2 replies \ @Satosora 7 Jan
I dont know.
A private key is pretty safe if you have made it correctly.
Are you just protecting yourself from yourself?
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16 sats \ 0 replies \ @oklar 7 Jan
I was mulliing this over. I guess peace of mind is something of value, there's need for it at some denominations and situations. I think it's protection from your own paranoia to a degree, but also there's targeted threats, no?
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0 sats \ 0 replies \ @nym 8 Jan
It is mostly unnecessary.
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0 sats \ 0 replies \ @byzantine 7 Jan freebie
yeah this is probabaly for people or institutions that just want their bitcoin permanent fund and really don't want to use the utxos