Insured Bitcoin custody: how the CoinCorner Vault works
The CoinCorner Vault is multi-signature Bitcoin custody in which keys are held by CoinCorner and AnchorWatch across more than one jurisdiction, with insurance the firm describes as “underwritten by Lloyd's of London” for loss of keys and unauthorised access, subject to policy terms, limits and exclusions; it costs 1.50% a year, billed monthly, and you can withdraw at any time.
Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
Insurance terms in three lines, before anything else
- CoveredLoss of keys and unauthorised access, under insurance CoinCorner describes as “underwritten by Lloyd's of London”.Subject to policy terms, limits and exclusions
- Not covered or not statedA fall in the price of Bitcoin is not one of the two events. The policy limit, the insurer or syndicate and the excess are not published.A commercial policy, not the FSCS
- Starts whenWhen your Bitcoin reaches the insured wallet address, typically the first day of the calendar month after your transfer.Not insured before then
Read from the CoinCorner Vault page and the Isle of Man terms of use on . The detail is under what the insurance covers, and what it does not.
How the Vault works: multi-signature custody
Bitcoin is controlled by private keys. In an ordinary wallet one key signs every payment. In a multi-signature wallet several keys exist, and a set number of them must sign before any Bitcoin can move.
Who holds the keys
CoinCorner's Vault page says the keys are held by CoinCorner and by AnchorWatch, across multiple jurisdictions. That is the whole published description: two named key holders, in more than one country.
As described, you do not hold a key yourself. This is custody: you rely on the key holders to sign when you ask for your Bitcoin back.
The glossary has multi-signature and cold storage defined in plain words.
Not published for the Vault
- How many keys exist
- How many keys each holder has
- How many signatures a withdrawal needs
- Which countries the keys are kept in
Ask for these before you move a large amount. The threshold decides what happens if one key holder is unavailable.
What multi-signature changes
With one key, whoever holds or steals that key controls the Bitcoin, and losing it means losing the coins. Multi-signature removes that single point of failure. One lost, stolen or misused key is not enough to move anything.
What it does not tell you by itself is whether one holder alone could reach the threshold. That depends on how many keys each party has, which is not published.
A multi-signature withdrawal, in general
Bitcoin sits at a shared address
The coins are locked to an address that several keys control together.
A withdrawal is requested
A transaction is drafted that sends Bitcoin to the address you name.
Enough key holders sign
The transaction is valid only when the required number of keys has signed it.
The network confirms it
The signed transaction is broadcast and recorded on the Bitcoin blockchain.
What the insurance covers, and what it does not
“Insured” means something only next to its terms. These are the terms CoinCorner publishes, and the ones it does not.
Covered
- Loss of keys
- Unauthorised access
Those are the two events named on the Vault page, which describes the insurance as “underwritten by Lloyd's of London, covering loss of keys and unauthorised access”. The terms of use add that cover is subject to the policy's terms, limits and exclusions.
Not covered or not stated
- A fall in the price of Bitcoin. The cover is for two custody events, not for market losses.
- Bitcoin that has not yet reached the insured wallet address.
- The policy limit: not published.
- The insurer or Lloyd's syndicate: not named.
- The excess and the list of exclusions: not published.
This is a commercial insurance policy. It is not the Financial Services Compensation Scheme (FSCS), which does not apply here. The security page has the full list of what is not protected.
When cover starts
Cover does not start on the day you transfer. Under CoinCorner's Isle of Man terms it starts when your Bitcoin reaches the insured wallet address, “typically on the first day of the calendar month following the month in which the transfer occurs”.
Bitcoin held before that point is not insured. On the typical timing, coins sent on the 3rd of a month wait until the 1st of the next month, and coins sent on the 28th wait a few days.
“Typically” is the terms' own word, so ask CoinCorner for the date that applies to your transfer and read the Vault terms before you send anything.
Vault fee: 1.50% a year, billed monthly
That is the one price on the Vault page: a “1.50% annual fee billed monthly”. As an illustration, 1.50% a year on Bitcoin worth £10,000 is about £150 a year, or about £12.50 a month. The charge moves with the value of what you hold, so it goes up and down with the Bitcoin price.
The page does not say how each monthly charge is worked out or collected. Network fees for moving Bitcoin in and out are separate from the custody fee.
See it beside every other published charge: Vault and account fees.
| Item | Figure | How it applies |
|---|---|---|
| Custody fee | 1.50% a year | Billed monthly |
| Illustration: Bitcoin worth £10,000 | About £150 a year | About £12.50 a month; moves with the value held |
| Network fee to move Bitcoin in or out | To be confirmed | Separate from the custody fee |
| Minimum holding | To be confirmed | None is shown on the Vault page |
| Withdrawals | At any time | Processing time is not published |
Last reviewed: . Figures read from coincorner.com on .
Moving Bitcoin in and out
Custody is only useful if coins go in cleanly and come out on demand. This is what is published about each direction, and what to confirm first.
Depositing to the Vault
You move Bitcoin you already own into the Vault. The Vault page does not say whether a transfer can come straight from an external wallet or only from your CoinCorner account. If you do not hold any yet, you can buy Bitcoin with pounds first.
Keep the insurance rule beside this step. Bitcoin is not insured until it reaches the insured wallet address, typically on the first day of the calendar month after your transfer, so plan the date of a large transfer around that.
Withdrawing
The Vault page says you can withdraw at any time. It gives no processing time, and it does not say whether a withdrawal needs extra approval steps, such as a waiting period or a second confirmation.
If you may need the Bitcoin at short notice, ask how long a withdrawal takes before you transfer in. The buying guide covers where to keep Bitcoin after you buy it.
Who the Vault is for
CoinCorner names five kinds of customer on its home page. The Vault is the service for any of them holding more Bitcoin than they want resting on one key:
- Individuals holding Bitcoin for the long term
- Businesses. The business page lists custody solutions beside OTC trading, and a separate service covers taking Bitcoin payments through Checkout.
- High net worth individuals
- Family offices
- Trusts
No minimum holding is published, so check whether one applies before you plan a transfer.
For a company, family office or trust
The open questions are usually who can instruct a withdrawal, how many people must approve it and what records you receive. None of that is on the Vault page, so ask about custody for a company or trust before you open one.
Vault, exchange account or your own wallet
There are three common ways to hold Bitcoin, and each one has a cost. The table states the drawback of every option, the Vault included.
| Question | CoinCorner Vault | CoinCorner exchange account | Your own wallet |
|---|---|---|---|
| Who holds the keys | CoinCorner and AnchorWatch, multi-signature | CoinCorner | You |
| Single point of failure | Reduced: more than one key must sign. The threshold is not published. | One custodian. CoinCorner says it uses cold storage and multi-signature wallets. | You, unless you build your own multi-signature set-up |
| Insurance | Loss of keys and unauthorised access, subject to policy terms, limits and exclusions; starts later than your transfer | None is described on the live site | None, unless you arrange your own |
| Cost | 1.50% a year, billed monthly | No holding fee is published | No custody fee. A hardware wallet, if you use one, and network fees. |
| Effort | Low day to day. Withdrawals need signing. | Lowest: buy, sell and send from one login | Highest: backups, devices and inheritance are yours to manage |
| If you lose access | You rely on CoinCorner to restore access to your account | You rely on CoinCorner to restore access to your account | If the keys or seed phrase are lost, no one can recover the Bitcoin |
| Main drawback | Two firms to rely on, a yearly fee, and cover that starts late and has limits | One firm to rely on, and no insurance described | Everything depends on you, and mistakes are final |
Holding your own keys costs nothing in custody fees and gives you full control, with full responsibility. Custody trades some of that control for someone else's procedures. This comparison is for information only and is not investment advice. The guides to holding Bitcoin go through the basics, and the risk disclosure sets out custody and counterparty risks.
Security around the Vault
The description of the live Vault page says the Bitcoin is held in cold storage, which means the keys are kept offline. CoinCorner's home page puts its approach as “holding our keys offline in cold storage and multi-signature wallet infrastructure”. On your side, two-factor authentication (2FA) is available on CoinCorner accounts and is worth turning on before you hold anything of size.
The full-reserve statement shown here is the firm's own. No proof-of-reserves report, independent audit or attestation is published to support it, and the insurance policy document for the Vault is not published either.
For cold storage, account protection and the gaps in one place, read CoinCorner security in full.
“Your assets are backed 1:1. CoinCorner customer assets are always held in full reserve.”
CoinCorner's own statement on its buy page, read on 6 October 2026. Not independently verified.
Bitcoin custody: common questions
Five questions that decide whether the Vault fits, answered from CoinCorner's published pages. Where a page is silent, the answer says so.
Is Bitcoin in the Vault insured from the day I deposit?
No. Under CoinCorner's terms, cover starts when your Bitcoin reaches the insured wallet address, which is typically the first day of the calendar month after the month of your transfer. Bitcoin held before that point is not insured. Once cover starts it remains subject to the policy's terms, limits and exclusions.
Who is AnchorWatch?
AnchorWatch is the second key holder named on the CoinCorner Vault page, which says keys are held by CoinCorner and AnchorWatch across multiple jurisdictions. The page does not describe the company further, so ask CoinCorner for its legal entity, its location and its exact role in signing before you rely on it.
What happens to my Bitcoin if CoinCorner stops trading?
The published pages do not say. Nothing on the Vault page explains how Bitcoin in the Vault would be treated if CoinCorner Ltd became insolvent, or whether AnchorWatch could help return it. No compensation scheme applies, so read the terms of use and ask CoinCorner for a written answer first.
Can I withdraw at any time?
Yes, according to the Vault page, which says withdrawals are available at any time. It does not publish a processing time or say whether a withdrawal passes through extra approval steps. A multi-signature withdrawal has to be signed by the required keys, so allow for a delay until CoinCorner confirms how long it takes.
How is the Vault fee collected each month?
The Vault page says only that the 1.50% annual fee is billed monthly. It does not say which balance and which Bitcoin price the monthly charge is worked out on, or whether it is taken in Bitcoin or in pounds. Confirm the method with CoinCorner before you transfer, because it decides what leaves your holding each month.
Regulatory information
The Vault is provided by CoinCorner Ltd, an Isle of Man company. Read about the company that operates the Vault, or see its other services on the CoinCorner home page.
CoinCorner Ltd is registered with the Isle of Man Financial Services Authority (register entry) as a designated business under the Designated Businesses (Registration and Oversight) Act 2015. The register lists the categories Lender and Virtual Asset Service Provider. That registration is oversight for anti-money-laundering and counter-terrorist-financing compliance only. It is not a licence. See what the registrations do and do not cover.
CoinCorner and investments in cryptoassets are not regulated by the Financial Conduct Authority, are not covered by the Financial Ombudsman Service, and are not subject to protection under the Financial Services Compensation Scheme. CoinCorner's terms add that its virtual asset services “are not regulated by the Isle of Man Financial Services Authority (FSA), United Kingdom Financial Conduct Authority (FCA), or any other regulator”. The Vault insurance is a commercial policy, not a compensation scheme.
The FCA authorisation named in the footer belongs to Mercury Foreign Exchange Limited (FRN 900858), which issues the electronic money behind pound and euro balances. It does not cover Bitcoin or the Vault.
Nothing on this page is investment advice. The price of Bitcoin can fall as well as rise, and you may get back less than you put in.
The provider at a glance
- Provider
- CoinCorner Ltd
- Company number
- 129003C (Isle of Man)
- Registered office
- 18c Carrs Lane, Tromode, Douglas, Isle of Man, IM4 4RG
- Date on the register
- FCA regulation
- None
- FSCS and Ombudsman
- Do not apply
Company details from the CoinCorner footer; register read on .
Read the terms, then open a Vault
Check the insurance terms, the date cover starts and the fee against your own plans first. The Vault costs 1.50% a year, billed monthly, and you can withdraw at any time.