Coin IRA Sets a New Standard for Cryptocurrency Security
Coin IRA has been helping investors add cryptocurrency to their IRAs since 2017, so we know that the security of the cryptocurrency held in your account is one of your most important concerns.
We set a high bar for the custodian of our accounts and ultimately chose Equity Trust, a 45-year-old self-directed IRA custodian with over $34B in assets under custody. Equity Trust is responsible for the safety and security of the digital assets held in all Coin IRA accounts and uses Fireblocks for digital asset storage.
Fireblocks’ next generation technology moves beyond a hot v. cold model by using multi-party computation (MPC) and a multi-layer security matrix that delivers the most impenetrable system on the market. It is also the only security platform that insures assets in storage, transfer, and E&O.
Multi-layer technology secures your cryptocurrency from cyber-attacks, internal collusion and human error by combining the latest breakthrough in MPC cryptography with hardware isolation.- The MPC-CMP private key protection layer follows a set of steps to guarantee that there is never a single point of compromise of the private key from both external hackers and insiders, as the private key is never concentrated on a single device at any point in time.
- Keys stored in the SGX layer cannot be extracted even if malware or a hacker has control over the server’s operating system.
- Fireblocks is the first company in the world to achieve a Cryptocurrency Security Standard (CCSS) Qualified Service Provider Level 3 certification by the Cryptocurrency Certification Consortium (C4).
- Equity Trust has complete control over the keys to your digital assets, therefore, your cryptocurrency cannot be moved without your authorization, eliminating any counterparty risk.
- Your digital currency is not reflected on the balance sheet of Coin IRA, Equity Trust, or Fireblocks, and is not borrowed against or leveraged in any way.
Best of all, Coin IRA’s account holders pay no monthly or annual fee for this unrivaled storage solution, and you get peace of mind knowing the latest technology available is yours. It’s just one of the benefits of doing business with Coin IRA.