Casa releases the world’s most secure crypto wallet, raises $2 Million
The rise of Bitcoins & other crypto-currency has seen a rise in Crypto-currency stealing as well, which in turn has seen a rise in Hardware Wallet. Hardware wallets, allow you to store Bitcoins and other Crypto-currency in a separate storage space, away from your computer which can be hacked.
An attacker needs to be physically present to steal your Crypto-currency. This dependency makes hardware wallet safer than traditional software wallets.
But an attacker, if physically present, could hypothetically threaten you and steal your coins. (Imagine a gun on your head!! )
Enter Casa, who has built a digitally secured wallet, which cannot be stolen from even if a person is threatened. Casa has achieved this by asking the user to create 5 Keys for securing their virtual assets. One key stays on the user’s phone, and another one stays with Casa as a recovery mechanism. The three other keys are stored in Trezor or Ledger hardware wallets.
Casa recommends keeping these 3 hardware wallets separately. One at the house, one at the bank, and one at the office.
For a transfer to happen, three of the keys out of five are required. Even if an attacker was physically present, and threatened you, they would still require moving with you from one location to another to get the key. That would, in theory, give the user a chance to get help.
Casa is targetting the high net worth currency holders, who hold around $400,000 to $10 Million worth of Bitcoins. Currently, the Casa wallet only supports Bitcoin, but support for Ethereum (ETH) and other crypto-currency would be added soon.
Casa has raised $2 Million through a funding round led by Lerer Hippeau, an early-stage venture capital fund based out of New York City.
Founder and CEO of Casa is Jeremy Welch (@jeremyrwelch). Jeremy Welch is a serial Entrepreneur.
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