Custody Protocol
CheckSig rejects security-by-obscurity, adopting a public custody protocol: two cold storage levels, three multi-sig authorization stages, time-locked withdrawals, and independent companies involved
The importance of professional custody
In order to guard your Bitcoins it is necessary to guard the so-called “private keys” as wellone who has them can irreversibly transfer the associated funds; losing them or having them stolen involves the loss of your Bitcoins. For this reason, the do-it-yourself custody is only recommended for technical users and for small amounts. Furthermore, the user is exposed to fraud and aggression, as well as the risk of not being able to transfer funds to their heirs in the event of an accident.
Even keeping your funds on stock exchanges is unsafe, it would be reasonable only for trading needs. In fact, due to operational needs, exchanges are forced to keep a large part of their funds in remotely accessible “hot wallets”: hacks are likely to occur, even to the detriment of well-known exchanges. Additionally, stock exchanges typically do not have insurance coverage.
These are problems that both private investors and businesses have to face: just think of the implications in terms of liability, personal security, inheritance and taxation. This is why CheckSig offers a complete custody service, taking full responsibility for the security of funds against external attacks, fraud attempts and physical threats. Not to mention the peace of mind given by insurance guarantees.
See why CheckSig is different
What happens if
You lose your private keys or cannot log in anymore?
With a traditional wallet (e.g. Electrum, Ledger)
Your funds are lost forever.
With a multi-signature wallet (e.g. Conio, Green)
The company that provides you with the wallet can help you recover your funds.
Instead, with CheckSig
The risk does not exist, because CheckSig directly manages private keys through a two-level and multi-signature system (with 11 keys involved), also equipped with many redundancies. And even in the slightest possibility that CheckSig loses several private keys, CheckSig itself has disaster recovery systems based on foreign keys jointly controlled by independent third parties.
Are you convinced by deception or forced by violence to transfer your funds to someone else?
With a traditional wallet (e.g. Electrum, Ledger)
Your funds are likely to be lost forever. It is better to report the incident to the postal police, but an experienced scammer hardly ever leaves any traces.
With a multi-signature wallet (e.g. Conio, Green)
Your funds are likely to be lost forever. It is better to report the incident to the postal police, but an experienced scammer hardly ever leaves any traces. The company that provides you with the wallet is unable to help you recover your funds and has no insurance coverage to compensate for the damage.
Instead, with CheckSig
The scenario is borderline impossible: the scammer would have to hack both your e-mail and your phone, bypass the CheckSig operator video call, and wait five working days without either you or the CheckSig team identifying the fraud attempt. But even if all of this happens, CheckSig’s insurance coverage would cover the amount of the damage.
The safest custody protocol in the world
The safety of your funds is of crucial importance. This is why CheckSig has studied and designed a custody protocol capable of providing the safest solution in the world, ensured and certified by independent auditors. The protocol consists of a system with three distinct authorization levels, all with multiple signature (for a total of 11 keys), and two levels of custody disconnected from the internet: the “Frozen” and the “Cold” wallet.
No security-by-obscurity
The protocol is so robust that it is entirely public and has nothing to hide
Maximum visibility on funds
Anyone can check the total stock of CheckSig’s vault and all incoming and outgoing movements through the Proof-of-Reserves
Control by independent third parties
CheckSig’s safe can only be opened with the authorization of independent parties who verify the amount and destination of each withdrawal
