Free Insured Vault / Cold Storage
Nebeus has removed all the fees of cold wallet vaults. By doing so, our users can securely store their Bitcoin and Ethereum in a hardware wallet kept in our partner BitGo's custody and be insured by Lloyd's of London for up to $250 million.
- 1.We will incur the costs of BitGo's insured cold storage on ourselves to ensure that our users have a free and secure option for safely storing their cryptocurrencies.
- 2.This solution is not DeFi, as you will not hold the keys to the cold wallets on BitGo, but this is an option with a $250M insurance, protecting your funds against third-party hacks, copying, loss, theft of private keys, insider theft, and most importantly, the failure of a centralized platform's business.
- 1.After you deposit funds into the Nebeus vault, they are automatically sent to BitGo, one of the biggest crypto custodians in the world.
- 2.BitGo stores your funds in a cold wallet and physically places it in a bank-grade Class III secured vault.
- 3.When you request to withdraw your funds, BitGo performs an identity verification and generates a transaction that needs to be signed offline by Multi-Sig technology, which can take 24 hours. This method offers the best protection against loss or theft, providing great accountability and transparency.
- 4.After this, BitGo co-signs and the funds are transferred. Because of this rigorous security process, the withdrawal can take up to 48 hours to be completed.
During the whole operation, funds are insured by Lloyds of London for up to $250M