Unchained vs Casa: Which Bitcoin Custody Service Is Right for You? (2026)

Unchained and Casa are the two most trusted names in managed Bitcoin multisig custody for individuals. Both use multi-signature setups to protect your Bitcoin from theft and single points of failure. Both have been operating since the early Bitcoin infrastructure era. The differences — in pricing, philosophy, custody structure, and additional services — matter significantly depending on how much Bitcoin you hold and what you need from a custody provider.

Here is the full comparison.

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At a Glance

Feature	Unchained	Casa
Multisig structure	2-of-3	2-of-3 (Gold) or 3-of-5 (Diamond)
Keys you hold	2 of 3	1 of 3 (or 2 of 5)
Provider key	1 of 3	1 of 3
Annual fee	$250 (Concierge) to custom	$250 (Gold) / ~$5,000 (Diamond)
Inheritance protocol	Yes	Yes (Diamond: guided)
Hardware wallet agnostic	Yes	Yes
Mobile app	No (desktop web)	Yes (iOS, Android)
Additional services	Loans, IRA, mortgages	Emergency key recovery
Key philosophy	Collaborative custody	Managed security
US-only	Yes	US + select international
Bitcoin-only	Yes	Yes

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Why Managed Multisig?

Single-key Bitcoin self-custody — one hardware wallet, one seed phrase — has a critical failure mode: if you lose the device AND the seed phrase backup, your Bitcoin is gone. If someone steals your seed phrase, your Bitcoin is gone. It is a single point of failure in both directions.

Multisig requires M-of-N keys to authorize a transaction. A 2-of-3 setup means:

• Any single key loss does not lose your Bitcoin (you have two others)
• A thief who steals one key cannot steal your Bitcoin (they need two)

Managed multisig services like Unchained and Casa add a layer of expertise: they help you set up correctly, hold one key as a backup/recovery tool, and provide guided processes for accessing your Bitcoin even in difficult circumstances (loss, death, technical failure).

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Unchained

Unchained (/exchange/unchained) is a Bitcoin financial services company that pioneered collaborative custody in the US. Their model: you hold two of the three keys in your 2-of-3 multisig vault. Unchained holds one. You retain majority control at all times.

The Collaborative Custody Model

Unchained's key innovation is that you are always in majority control. With two of three keys, you can move your Bitcoin at any time without Unchained's involvement. Unchained's key exists only to:

• Assist you if you lose one of your keys
• Participate in transactions when you want their help
• Enable inheritance access for heirs

If Unchained went bankrupt tomorrow, closed down, or was seized by regulators, your Bitcoin is safe. You have two keys. You move it yourself.

This is fundamentally different from custodial services (Coinbase, Gemini) and even from Casa's model (where you hold one key vs. Unchained's two).

Unchained Services

Unchained has expanded well beyond basic custody into a full Bitcoin financial services platform:

• Collaborative custody — vaults with 2-of-3 multisig
• Bitcoin-backed loans — borrow against your Bitcoin (see Bitcoin-Backed Loans Guide)
• Bitcoin IRA — self-directed IRAs with Unchained multisig custody (see Swan Bitcoin IRA vs iTrustCapital)
• Bitcoin mortgages — home loans collateralized by Bitcoin
• Inheritance planning — guided process for passing Bitcoin to heirs

For Bitcoin holders who want a single provider for custody, loans, and retirement planning, Unchained's breadth is a significant advantage.

Unchained Pricing

• Unchained Concierge: $250/year — onboarding session, vault setup, key ceremony, ongoing support
• Self-guided setup: lower cost for technically capable users
• Institutional tiers: custom pricing for businesses and large holdings

Unchained Limitations

• No mobile app — Unchained is web-based. You manage your vault through a desktop browser. For users who want to check balances and sign transactions on their phone, this is a genuine limitation.
• More technical — Unchained's collaborative custody model requires understanding that you are responsible for two keys. The onboarding is thorough, but the learning curve is steeper than Casa's mobile-first experience.
• Less polished UI — the interface is functional but less consumer-friendly than Casa's app.

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Casa

Casa (/company/casa) is a Bitcoin and Ethereum security company that popularized the concept of managed multisig for individuals. Their product is built around a clean mobile app that guides you through multisig setup with clear UX and step-by-step instructions.

Casa's Key Model

Casa's Gold plan (2-of-3 multisig) gives you:

• Key 1: Your hardware wallet (you hold)
• Key 2: Your mobile phone (Casa app, you hold)
• Key 3: Casa (recovery key)

To sign a transaction, you need two of these three. Day-to-day, you use your hardware wallet + phone. If you lose your hardware wallet, you use phone + Casa key. If you lose both, Casa can use their key to help you recover.

The critical difference from Unchained: you hold one key, not two. Unchained users hold majority (2 of 3); Casa users hold a minority (1 of 3 in Gold).

This makes Casa's model more "assisted custody" — you are relying on Casa to some degree for recovery. That said, the three-key structure means no single party can steal your Bitcoin.

Casa Diamond (3-of-5 Multisig)

Casa's top tier uses a 3-of-5 multisig:

• 2 hardware wallets (you hold)
• 1 mobile key (you hold)
• 1 Casa key
• 1 third-party key agent

This adds a fourth key under your control and a fifth distributed key, making it one of the most secure retail Bitcoin custody structures available.

Casa Services

• Multisig vault — Gold (2-of-3) and Diamond (3-of-5)
• Inheritance protocol — included in Diamond, add-on in Gold
• Emergency key recovery — Casa can help you access funds if you lose keys
• Dedicated security advisor (Diamond) — a human expert on call
• Hardware wallet store — buy compatible hardware through Casa

Casa does not offer loans, IRAs, or mortgages — it is focused purely on custody and security.

Casa Pricing

• Casa Gold: $250/year — 2-of-3 multisig, standard inheritance support
• Casa Diamond: ~$5,000/year — 3-of-5 multisig, dedicated advisor, full inheritance protocol, priority emergency recovery

Casa Limitations

• You hold fewer keys — in the Gold plan, you hold only 1 of 3 keys. If Casa's infrastructure is compromised or unavailable, you need their involvement to transact.
• Mobile-centric — one of your three keys is your phone. Phones can be lost, stolen, or fail. Casa has recovery processes, but a phone as a key adds a point of fragility.
• No financial services — Casa does not offer loans, IRAs, or mortgages. It is custody-only.
• Higher Diamond price — $5,000/year is significant. Appropriate for large holdings; expensive for moderate ones.

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Head-to-Head Analysis

Security Architecture

Unchained wins for key sovereignty. Holding 2 of 3 keys means you can always move your Bitcoin independently. If Unchained disappears, your Bitcoin is not at risk.

Casa wins for UX-driven security. Their mobile app makes multisig accessible to people who would otherwise use single-key custody or exchange custody. The 3-of-5 Diamond option is one of the most secure retail structures available.

Verdict: For users who prioritize sovereignty above all else, Unchained. For users who want excellent security with less technical burden, Casa.

User Experience

Casa wins clearly. The mobile app is polished, the onboarding is guided, and the day-to-day experience of checking balances and approving transactions is more consumer-friendly. Unchained's web interface is functional but not elegant.

Verdict: Casa for better UX, especially on mobile.

Inheritance Planning

Both are strong. Unchained's inheritance service gives heirs a clear process using the collaborative custody keys. Casa's Diamond tier includes a fully guided inheritance protocol with dedicated support.

For users willing to pay Casa Diamond prices, Casa's inheritance support is more hands-on. For users on standard plans, Unchained's inheritance service is more accessible.

Verdict: Tie — Casa Diamond for maximum support, Unchained for standard inheritance needs.

Additional Financial Services

Unchained wins decisively. Loans, IRAs, mortgages — Unchained has built a full Bitcoin financial services stack around the same multisig infrastructure. If you want to borrow against your Bitcoin, hold it in a retirement account, or use it as mortgage collateral, Unchained handles all of that within the same custody relationship.

Casa offers none of these. It is custody-only.

Verdict: Unchained for users who want custody + lending + retirement in one place.

Pricing

Tie at the base tier. Both Gold/Concierge plans are $250/year — equivalent in price.

At the premium tier, Casa Diamond at ~$5,000/year is significantly more than Unchained's institutional pricing. Casa Diamond buys a dedicated human advisor and more hands-on support; Unchained's institutional tiers focus on scale.

Verdict: Equal at $250/year. Casa Diamond is a premium product for those who want a dedicated Bitcoin security advisor.

Trust Model

Unchained wins for lower trust requirement. You can verify your vault on-chain, you hold majority keys, and you can act independently. The trust you place in Unchained is minimal — they hold one of three keys and your Bitcoin only moves if you sign.

Casa requires you to trust their infrastructure for key recovery (especially in the Gold plan where their key is 1 of 3 that you do not hold). That said, Casa has an excellent security track record.

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Who Should Choose Each

Choose Unchained if:

• Key sovereignty is your top priority — you want to hold majority keys
• You also want Bitcoin-backed loans, IRA custody, or mortgages
• You are comfortable with a web-based interface
• You are a technically capable Bitcoin holder who wants collaborative custody without delegating too much
• You want to verify everything on-chain and operate with minimum trust

Choose Casa if:

• Mobile UX is important to you
• You want the most guided onboarding experience available
• You are at the Casa Diamond budget level and want a dedicated security advisor
• You prioritize ease of use over maximum key sovereignty
• You want your phone as one of your keys (convenient for approving transactions on the go)

Consider alternatives if:

• You hold under $25,000 in Bitcoin — a single hardware wallet with a metal seed backup may be sufficient. Both Unchained and Casa are most valuable at $100,000+.
• You want institutional-grade custody — BitGo (/company/bitgo) and Anchorage Digital serve enterprise clients with insurance, compliance, and regulatory frameworks.

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FAQ

What happens to my Bitcoin if Unchained or Casa shuts down?

Unchained: You hold 2 of 3 keys. You can move your Bitcoin without Unchained at any time. Shutdown has zero impact on your ability to access your funds.

Casa Gold: You hold 1 of 3 keys. You would need to use the backup process to access your Bitcoin without Casa's key. Casa's terms include a key recovery procedure for exactly this scenario.

Can I use any hardware wallet with both services?

Yes. Both Unchained and Casa are hardware-wallet agnostic. Coldcard, Foundation Passport, Trezor, Ledger, and Keystone all work with both platforms. Using different hardware wallet brands for different keys is recommended — it reduces supply-chain risk.

Do I have to hold Bitcoin with them, or is it my own wallet?

Both are non-custodial. Your Bitcoin is in a multisig address on the Bitcoin blockchain — not in any company's account. They facilitate the security structure; they do not hold your Bitcoin in the traditional sense.

Which is better for inheritance planning specifically?

Both have inheritance protocols. For hands-off guided inheritance with a dedicated advisor, Casa Diamond is superior. For self-directed inheritance planning with professional support, Unchained's service is excellent and more affordable.

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The Verdict

For maximum key sovereignty and a full financial services stack: Unchained. Holding 2 of 3 keys is the strongest custody model of the two, and the ability to combine custody with loans, IRA, and mortgage services under one roof is a meaningful advantage.

For the best mobile experience and guided security: Casa. The app is better, the onboarding is clearer, and Casa Diamond offers a level of hands-on security advising that no other retail Bitcoin custody service matches.

Both are the right choice depending on your priorities. Unchained is for the Bitcoin holder who wants to minimize trust requirements. Casa is for the Bitcoin holder who wants to maximize security without learning the plumbing.

For smaller holdings, read our Bitcoin Self-Custody Guide before committing to a managed service. And browse all Bitcoin custody options in our directory.

See also: Best Bitcoin Inheritance Planning Tools 2026 · Bitcoin Multisig Inheritance Setup Guide