What is Casa Covenant
Casa Covenant is a service offered by Casa, a company that specializes in providing secure storage solutions for Bitcoin and other cryptocurrencies. The Casa Covenant is a tool that helps users plan for the inheritance of their cryptocurrency assets in the event of their death or incapacitation.
With the Casa Covenant, users can designate beneficiaries who will receive their cryptocurrency assets in the event of their death or incapacity. Casa provides a secure storage solution for the user’s private keys, which can only be accessed by the designated beneficiaries in accordance with the user’s instructions.
The Casa Covenant also includes a set of legal documents that can be used to formalize the user’s wishes and provide legal protection for their beneficiaries. These documents include a will, a durable power of attorney, and a revocable trust.
Overall, the Casa Covenant is designed to provide users with peace of mind knowing that their cryptocurrency assets will be passed on to their loved ones in a secure and legally protected manner.
The history of Casa Covenant
Casa Covenant was launched by Casa in January 2019. Casa was founded in 2018 by Jeremy Welch and Alena Vranova with the mission of providing secure storage solutions for Bitcoin and other cryptocurrencies.
The idea for Casa Covenant came about as a result of concerns about the security and accessibility of cryptocurrency assets in the event of the owner’s death or incapacity. Cryptocurrencies are a unique asset class in that they are decentralized and typically held in private wallets controlled by the owner. This presents challenges for estate planning and inheritance, as access to the wallet is required to transfer the assets.
To address these challenges, Casa developed the Casa Covenant service. The service provides a secure storage solution for the user’s private keys and allows the user to designate beneficiaries who will receive their cryptocurrency assets in the event of their death or incapacity. Casa also provides legal documents to formalize the user’s wishes and provide legal protection for their beneficiaries.
Since its launch, Casa Covenant has become a popular service for cryptocurrency holders looking to ensure the security and accessibility of their assets in the event of their death or incapacity.
How Casa Covenant works
Casa Covenant is a tool that helps cryptocurrency holders plan for the inheritance of their assets. Here’s how it works:
- Sign up for Casa Covenant: To use Casa Covenant, you need to sign up for a Casa account and select the Casa Covenant service.
- Create a secure storage solution: Casa provides a secure storage solution for your private keys. They use multi-signature technology to ensure that your private keys are never in one place at one time and require multiple authorizations to access.
- Designate beneficiaries: You can designate beneficiaries who will receive your cryptocurrency assets in the event of your death or incapacity. You can choose to designate one or more beneficiaries, and you can specify the percentage of your assets that each beneficiary will receive.
- Set up legal documents: Casa provides legal documents to formalize your wishes and provide legal protection for your beneficiaries. The documents include a will, a durable power of attorney, and a revocable trust.
- Fund your account: You need to fund your Casa account with the cryptocurrency assets you want to secure.
- Maintain your account: It’s important to keep your Casa account up to date with any changes to your designated beneficiaries or legal documents.
In summary, Casa Covenant works by providing a secure storage solution for your private keys and allowing you to designate beneficiaries who will receive your cryptocurrency assets in the event of your death or incapacity. Casa also provides legal documents to formalize your wishes and ensure that your beneficiaries are protected.
Can Casa Covenant be trusted
Casa Covenant is a service offered by Casa, a reputable company in the cryptocurrency industry that has been around since 2018. Casa has a strong reputation for providing secure storage solutions for Bitcoin and other cryptocurrencies, and the company has been trusted by many high-profile clients and institutions.
Casa uses industry-leading security practices to protect their clients’ cryptocurrency assets, including multi-signature technology, hardware security modules, and geographically distributed data centers. Casa also provides a transparent audit trail for all transactions and access attempts, and they have a team of security experts available 24/7 to monitor their systems and respond to any potential threats.
In addition, Casa Covenant is designed to provide legal protection and formalize the user’s wishes regarding the inheritance of their cryptocurrency assets. Casa provides legal documents such as wills, durable powers of attorney, and revocable trusts, which are designed to ensure that the user’s wishes are followed and their beneficiaries are protected.
Overall, while no service can guarantee 100% security, Casa Covenant is a reputable and trustworthy service that provides a secure and reliable way to plan for the inheritance of cryptocurrency assets.
Does Casa Covenant charge a fee
Yes, Casa Covenant does charge a fee for its services. The fees vary depending on the level of service that you choose and the amount of cryptocurrency assets that you want to secure.
Casa offers three different levels of service for Casa Covenant:
- Basic: This level of service includes secure storage for one cryptocurrency asset and one beneficiary designation. The fee for this service is $120 per year.
- Gold: This level of service includes secure storage for up to three cryptocurrency assets and three beneficiary designations. The fee for this service is $300 per year.
- Platinum: This level of service includes secure storage for up to five cryptocurrency assets and unlimited beneficiary designations. The fee for this service is $600 per year.
In addition to the annual fees, Casa charges a one-time fee for setting up the legal documents associated with Casa Covenant. The fee for this service is $1,000 for all levels of service.
It’s important to note that while the fees for Casa Covenant may seem high compared to other cryptocurrency storage solutions, they reflect the high level of security and legal protection that Casa provides.