CoinCorner launches 1.5% insured Bitcoin custody

• CoinCorner has launched Vault, a Bitcoin custody service with multi-signature security and Lloyd’s of London insurance.
• Vault costs 1.5% a year, based on the value of Bitcoin held in the service.
• The service covers key loss and unauthorised access, giving customers an insured alternative to self-custody.

CoinCorner has launched Vault, a custody service for Bitcoin (CRYPTO:BTC) built with AnchorWatch and insured by Lloyd’s of London.

Vault uses multi-signature security, with keys split across different companies and jurisdictions.

“This is what secure bitcoin custody should look like,” said Becca Rubenfeld, AnchorWatch’s COO.

The service costs 1.5% a year, with fees based on the Bitcoin held at the start of each month.

Customers can add Bitcoin to Vault and withdraw it at any time, although withdrawals carry a small onchain transaction fee.

Lloyd’s insurance covers specified risks, including lost keys and unauthorised access, subject to policy terms and limits.

The launch comes after several major Bitcoin security incidents, increasing attention on safer custody options for individual and institutional holders.

At the time of reporting, Bitcoin price was $78,720.63.