Is it Too DANGEROUS To Hold ALL YOUR Own Bitcoin??? [Bitcoin Security Expert Explains] | EP 1563

**Nico** (0:00)
Yo, new information continues to come out surrounding the suspected $130 million of Bitcoin stolen from the cold card wallet. Today, we're going to bring up you up to speed on everything that's happening. And we've got another Bitcoin self custody expert on the show to discuss all the best ways that you can hold your Bitcoin safely. I want to welcome onto the show, Nick Newman.
Nick is the CEO of Casa. And I got to give up a personal note here, guys.
Speaking of customer service from experience, I got to say the Casa team goes above and beyond. I have someone who's very, very close to me using the Casa collaborative custody. And Nick himself literally helped me through the customer service experience, trying to help this specific individual migrate their self-custody setup that had cold cards involved to a new multi-sig collaborative custody setup. And Nick was involved for the whole four or five hours. He brought in his team. It was like top notch customer service. I can't recommend them enough. I haven't seen another company do that. Nick, welcome to the show. And I got to say, man, I appreciate you. Thank you so much for your help.

**Nick Newman** (1:24)
Of course. I mean, this is the...
We are all hands on deck right now. This is a really crazy time. And so when you reach out and we're like, hey, we're doing this migration, I was like, okay, we need to make sure that we're helping you with this. And the team, the rest of the normal client advisors were all booked. So I was like, all right, we'll do a live. I'll join this. And so I'm glad everything went smoothly and we got all the funds to safety. So that was good.

**Nico** (1:54)
Absolutely. It was a happy ending. And I got to say, CASA is a pretty big company. So for the CEO himself to just step up and do the customer service support himself, really, really, I think speaks so well about CASA. And this entire week, guys, we've been giving you alternatives and we've been basically telling you that if you're storing a significant amount of Bitcoin, like life savings or something, multi-SIG should now be the standard. I think that's obvious after the events of July 30th, and specifically multi-vendor, multi-SIG. And we've given you guys a bunch of different options. Obviously, the BitKey is great. Unchained, we had Drew from them yesterday. And now, obviously, we have Nick Newman from CASA, which is, again, an incredible company. I can't speak more well about them just because of my personal experience recently.
Dealing with you guys. And you guys have a fantastic product because essentially, you guys make collaborative custody incredibly easy.
And could you walk us through exactly what CASA offers, Nick? Because you guys have multiple product offerings. You guys have a two of three. You guys have a three of five. And you guys also offer inheritance. And you guys have this incredible app that makes the process of setting up a collaborative custody multi-SIG incredibly easy for someone who is not technical.

**Nick Newman** (3:24)
Yeah, I mean, I think to like one of the words of the day that has been thrown around a lot over the last few days as something that is a best practice for your security is to use multi-vendor multi-SIG, right? And I imagine that for people who have never thought about this before and were just using a single SIG wallet, they had their seed phrase, they thought they were in good shape. I imagine that here in multi-vendor multi-SIG, you get the emoji with the squiggly eyes because it's just like, that sounds way too much for me.
With at Casa, we've just tried to make this very easy for people and to make it something where you're doing the right stuff, you're doing multi-vendor multi-SIG, but you're not really having to think about it too hard. We're just giving you all the tools to do it and kind of guiding you down the path. And if you follow our default recommendations and follow what the app does for you, then you're going to be in good shape. And so at a very basic level in our standard Casa plan, you have a two of three multi-SIG, and that means there's three keys. One key is on your phone, one key is on a hardware wallet, and then one key is held by Casa. And so in this setup, let's say you're using a single-SIG hardware wallet right now, you can simply just connect that same hardware wallet to Casa. The Casa app will help you generate the other two keys that are going to be part of that setup, and then very quickly, you can transfer the funds off the single-SIG and into that multi-SIG two of three vault, and your funds are significantly more protected. And we had people doing this over the last few days. People who had Bitcoin on MK3 cold cards, so their Bitcoin was vulnerable of being stolen on that single SIG, they didn't have another hardware wallet to migrate to, and maybe they didn't want to send the Bitcoin to an exchange or something like that.