CoinCorner Introduces Insured Bitcoin Custody in the UK

CoinCorner is moving to secure user funds with the launch of its new Bitcoin custody service. This feature allows UK customers to store their holdings using a setup that combines multi signature technology with insurance coverage provided by Lloyd’s of London.

The service works by splitting key control between CoinCorner and AnchorWatch. By using this multi signature approach, the firm aims to reduce the risk of a single point of failure. Users opting for this custody solution will pay an annual fee of 1.5 percent for the service.

This move comes as more exchanges look for ways to offer higher security standards for long term holders. By adding insurance into the mix, the company is attempting to provide a layer of protection that many retail investors look for when keeping larger balances on a platform.

Investors should keep an eye on whether other platforms follow suit with similar insurance offerings. Security remains a top priority for the crypto market, and this new custody model could set a standard for how UK exchanges handle client assets moving forward.