Frequently
Asked
Questions

Trident is AnchorWatch’s proprietary vault software that enables extremely secure cold storage of Bitcoin. AnchorWatch customers hold their own signing devices, and can access their personal vault in Trident. Trident users can send and receive Bitcoin from Trident is AnchorWatch’s proprietary vault software that enables extremely secure cold storage of Bitcoin. AnchorWatch customers hold their own signing devices, and can access their personal vault in Trident. Trident users can send and receive Bitcoin from within their Vault. 

It’s available for use by AnchorWatch insurance customers.

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Currently AnchorWatch sells custody insurance, intended to give Bitcoin owners peace of mind surrounding the storage of their Bitcoin. Policies cover the value of an owner’s Bitcoin stored in Trident Vault. 

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[AnchorWatch policies are primarily specie coverage, similar to fine art or precious articles policies, sold on a Property & Casualty line. AnchorWatch policies are backed by Lloyd’s of London and are 12 month policies. See Policy for terms, conditions, coverage and exclusions.]

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AnchorWatch policies are written on Lloyd’s of London Coverholder binding authority. Policies are 100% backed by Lloyd’s of London syndicates. 

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AnchorWatch policies are written on Lloyd’s of London paper, and are rated A+. 

AnchorWatch policies are priced in USD, as a percentage of the value being insured. Premium rates cost between .5% and 2% annually of the limit value based on underwriting and a prospective customer’s unique risk levels. Many customers will qualify for premiums under 1%.

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The use of Trident is included for the first $250k of coverage and costs .25% of the vault’s value, charged monthly, for Bitcoin held in Trident, and includes transaction verification and signing by AnchorWatch. 

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In the case of an approved claim benefit, there is a 25% deductible.

AnchorWatch policies cover a permanent loss of ability to control or move Bitcoin in an insured Trident Vault. See policy for exact coverage, terms, conditions and exclusions.

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Examples of covered losses include loss of keys due to physical perils such as tornadoes, fires, floods and wildfires; theft of keys including coercion and violent events (‘$5 Wrench Attacks,’ burglary); collusion where both AnchorWatch and customer acted in concert to commit fraud.

Yes. 

Each customer vault is segregated and protected by a customer’s unique set of private keys. Bitcoin is never commingled with others’ Bitcoin, meaning the customer can view the contents of the vault in real-time on any block explorer (such as Mempool.Space).

Our insurance is built around the unique security features enabled by Trident and executed by the distribution of keys and key signers across multiple physical locations. At this time we only insure Bitcoin held in Trident vaults.

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If you would like insurance on another Bitcoin custody platform, please inquire at hello@anchorwatch.com. AnchorWatch will consider custom policies with limits of at least $25M.

The Bitcoin held in a Trident vault is considered Cold Storage and offline. Customers can access their Trident dashboard online at any time, but the private key material itself is offline, with private keys held on signing devices (hardware wallets) by the customer. AnchorWatch additionally has their own keys, but never has customer private key information.

Secure custody of Bitcoin is your number one priority and ours too. Here’s why you can trust Trident to secure your Bitcoin in cold storage. 

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1. Trident and Trident vaults are audited by at least two independent external firms who are all leaders in their fields. 
2. Vaults created in Trident can be accessed via Bitcoin Core in the case of emergency - even if AnchorWatch or Trident are unavailable. When a Trident Vault is created, customers are provided the vault’s Recovery Script and the information required to control their Bitcoin, so long as they still have their signing devices.
3. Trident vault configurations themselves can be audited by outside parties. The output descriptor of a given vault can be verified to confirm that AnchorWatch can never unilaterally control a customer’s Bitcoin.

AnchorWatch holds keys that are required for controlling Bitcoin in an insured vault, during the length of your insurance policy. While AnchorWatch never has unilateral control, the requirement that AnchorWatch sign a transaction helps to mitigate the risk of losses of client funds due to loss of signing devices, coercion and internal collusion.

AnchorWatch never has the customer’s private keys. The customer creates their own private keys on their signing device during the Onboarding Call. 

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AnchorWatch never has the ability to unilaterally move a customer’s Bitcoin, in any circumstance. 

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If a customer’s keys are all lost or stolen, the Bitcoin may be able to be salvaged by AnchorWatch and their emergency key recovery partner, using a time locked spending condition enabled by Trident’s use of miniscript. 

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Customers are provided with their vault’s Recovery Script, which allows them to control their vault even if AnchorWatch and Trident are unavailable, so long as the customer still has access to their signing devices.

AnchorWatch generally completes internal compliance activities and completes transaction signatures within one business day.

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