Lost Key Cover

Secure cryptocurrency key storage and recovery for business

We guarantee you won’t lose access to your funds

 

Access guaranteed
Business continuity depends on safe and secure access to funds. Coincover guarantees fund access.
Maintain control
Too often, you are forced to choose between handing over control to a third party and worrying about the security of your business backups.
Protect multiple wallets
Access to your cryptocurrency at all times knowing your funds are always protected.
Lost Key Cover

Key features

Lost Key Recovery
Recover the funds in your wallet if you lose your private key.

Secure key storage
Private backup keys are held in vaulted offline environment.

Direct ownership
Maintain full control of your digital assets, passcodes and private keys.

Fast recovery
24x7x365 support with quick recovery turn-around.

Rigorous ID verification
Strong protection against identity fraud and insider theft.

Unlimited Wallets
Protect as many wallets as you like within agreed cover limit.

Cover for most coins
Protect 100+ coins and tokens - whatever you hold with BitGo.

We are regulated by the UK Financial Conduct Authority and backed by A-rated Lloyds of London insurers

In partnership with industry leader BitGo

Coincover has partnered with BitGo, market leader in corporate-grade multi-signature wallets to protect your cryptocurrency.

BitGo wallets provide our customers with complete control, secure custody and continued access of their funds.

Flexible prices and service levels that work for your business

Lost Key Cover starts at just £99 (exc. VAT) per calendar month. 

Enhanced service levels with more recoveries per year and expedited recovery times are available.

Institutional-grade storage and security

Protect your funds with multi-signature 3-key management and a backup key held securely offline. Two signatures are required on every transaction on a BitGo wallet and typically this is done by you and BitGo. But should you lose access, our dedicated team is waiting to help recover your funds as quickly as possible.

 

Customer Key
Generated and stored by you and used to initiate all interactions.
BitGo Key
Generated and stored by BitGo and used to co-sign transactions . 
Coincover Backup Key
Generated and stored securely offline  for emergency recovery.

For a personalised quotation, please click


How Lost Key Cover works

How does Lost Key Cover work?

Protect your funds with multi-signature 3-key management and a backup key held securely offline.

Lost Key Cover is built on multi-signature (multi-sig) wallet technology. Multi-sig wallets require two or more private keys before the funds can be released. 

Bit Go multi-sig wallets consist of three private keys: one held by you, one held by BitGo and one held on your behalf by Coincover.

Two signatures are required on every transaction on a BitGo wallet and typically this is done by you and BitGo. But should you lose access, our dedicated team is waiting to help recover your funds as quickly as possible.

What is secure key storage?

Secure key storage is the way we ensure you never lose access to your funds by creating and holding an emergency backup key to each of your wallets offline.

When you create a new wallet with BitGo and select Coincover to hold your back up key, BitGo request a key pair from us for your new wallet.

We send BitGo the public portion of the key which is allocated to your new wallet. The private backup key is stored offline with zero network exposure. It is fully encrypted, sharded using Multi-Party-Computation (MPC) and held in grade A free-standing six-sided vaults in multiple geographically dispersed locations in the United Kingdom.

Each vault is protected by multi-party access control with a minimum of three Coincover personnel in attendance for every recovery and verification.

What is the fund recovery process?

Our first priority is the security of your funds. We will always confirm your identity before we initiate the recovery process to be sure we are recovering the funds for the owner. To ensure total transparency, we will keep you informed on progress and notify you as soon as your funds have been recovered.

- Contact us immediately to report the loss of access
- Your ID is verified and ownership of the wallet confirmed
- You create a new wallet to hold the recovered funds
- We securely sign the transaction to recover funds
- The wallet provider (in this case BitGo) securely counter-signs and your funds are then transferred to your new wallet
- We confirm the funds have been recovered to your new wallet

Our recovery requirements

Our standard recovery process requires independent approval from at least one further named individual from the company in addition to the primary contact.

All named individuals must be on the Access Control List (ACL) approved by all parties and provide personal information such as a copy of their passport and proof of employment in your company.

In addition, all named individuals must have a BitGo account and a Coincover account and have completed the Know Your Customer ID checks.

Lost Key Cover standard service levels

We offer standard service levels or custom ones to suit your needs. Our security experts will work with you to understand your requirements and recommend the appropriate service levels your business.

We will arrange a call to understand your goals and operations quickly. We aim for a fast turnaround and businesses are typically on cover within 5 to 7 business days and in less time if you are already a BitGo customer. 

Our standard service levels include:       
- 24x7x365 support from our UK call centre
- Secure key storage for unlimited wallets
- Fund recovery for up to 24 wallets per calendar year
- Fund recovery within 7 days of verification

How much does Lost Key Cover for Business cost?

Lost Key Cover starts at just £99 (exc. VAT) per calendar month. 

Enhanced service levels with more recoveries per year and expedited recovery times are available.

How many wallets can I protect?

You can protect all your wallets provided they were created with our approved service provider BitGo, and you selected Coincover as the backup key holder.

Lost Key Cover protects all your wallets individually and collectively.

Which cryptocurrencies do you protect?

Coincover protects the following currencies:

Bitcoin
Ethereum
Bitcoin Cash
Bitcoin SV
Ripple
Stellar
Dash
ZCash
Litecoin
100+ ERC20 tokens


Contact us today for a personalised quote.

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