Coin Stories Nick Neuman: Easy and Convenient Multisig Self-Custody and Inheritance Planning with Casa
Sep 3, 2024
Nick Neuman, co-founder and CEO of Casa, shares his insights on Bitcoin self-custody and the innovative solutions his company offers. He delves into the importance of multi-signature custody, enhancing security while allowing for easier management of assets. Nick discusses the advantages of mobile versus desktop security for Bitcoin keys and emphasizes the critical nature of inheritance planning within self-custody. He also explores the journey to financial sovereignty and the freedom Bitcoin provides compared to traditional investments.
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Multisig Removes Single Points Of Failure
- Casa built multisig to remove single points of failure protecting Bitcoin private keys.
- They focus equally on making the system secure and making users feel comfortable using it.
Use 2-of-3 For Practical Security
- Use a 2-of-3 multisig setup to balance security and recoverability when self-custodying Bitcoin.
- Keep one key on your phone, one on a hardware wallet, and one with Casa to avoid catastrophic single-point failures.
Back Up Mobile Keys, Or Use Two Hardware Keys
- Back up an encrypted mobile key to the cloud to reduce risk of losing access if your phone is lost.
- Replace the mobile key with a second hardware wallet if you prefer not to rely on a phone cloud backup.