Unchained vs Casa — Head-to-Head Custody Comparison

An independent, data-driven comparison of Unchained and Casa across security, insurance, fees, regulatory compliance, and more.

Verdict

Quick Verdict

Unchained scores 7.1 vs Casa's 6.7. Unchained leads in 6 of 8 categories.

Unchained is better suited for HNW individuals, Families, Small institutions. Casa is better suited for HNW individuals, Families, Privacy-focused holders.

7.1

GoodCustody Score

Unchained

6.7

FairCustody Score

Casa

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Unchained	Casa	Winner
Security	20%	8.5	8.0	Unchained
Insurance	15%	4.0	3.5	Unchained
Regulatory	15%	5.0	4.5	Unchained
Fee Transparency	10%	9.5	9.0	Unchained
Track Record	15%	8.5	8.0	Unchained
Withdrawal Flexibility	10%	9.5	9.5	Tie
Reporting & Audit	10%	6.0	5.0	Unchained
Counterparty Diversification	5%	6.0	6.5	Casa
Overall Score	100%	7.1	6.7	Unchained

Visual

Score Radar

Visual overlay of Unchained and Casa across all categories.

UnchainedCasa

Deep Dive

Category-by-Category Analysis

A deeper look at how each provider performs in every scoring criterion.

Security (8.5 vs 8.0)

Unchained uses 2-of-3 collaborative multisig key management with 100% (hardware wallets) in cold storage and regular penetration testing. Compliance: N/A (client-controlled keys). Incident history: No incidents.

Casa uses Collaborative multisig (2-of-3 or 3-of-5) key management with 100% (hardware wallets) in cold storage and regular penetration testing. Compliance: N/A. Incident history: No incidents.

Insurance (4.0 vs 3.5)

Unchained offers Limited — Unchained's key is insured but client keys are client's responsibility via Not publicly disclosed. Because client holds majority of keys, insurance model is different from full-custodian solutions. Client bears primary responsibility for key security.

Casa offers Limited — similar to Unchained model. Client bears primary key responsibility. via Not publicly disclosed. Casa insures their own key. Client keys are client responsibility. Casa Covenant provides inheritance recovery mechanism.

Regulatory (5.0 vs 4.5)

Unchained holds FinCEN MSB registration and is not a qualified custodian operating in United States. Not a qualified custodian in the SEC sense — by design, since the client holds majority of keys. This is a feature, not a bug, for self-sovereignty advocates.

Casa holds FinCEN MSB registration and is not a qualified custodian operating in United States. Not a qualified custodian — self-custody model. Registered as money services business.

Fee Transparency (9.5 vs 9.0)

Unchained charges $250/year (Standard) / $1,200/year (Premium) in annual custody fees with No transaction fees for self-managed per transaction. Also offers Bitcoin-backed loans. IRA custody available at additional cost.

Casa charges $30/month (Standard) / $178/month (Premium) / Custom (Diamond) in annual custody fees with No transaction fees per transaction. Diamond tier includes dedicated advisor, custom security review, and Covenant inheritance protocol.

Track Record (8.5 vs 8.0)

Unchained was founded in 2016 and is headquartered in Austin, TX. AUM: $2B+ in Bitcoin secured. Incident history: No incidents.

Casa was founded in 2018 and is headquartered in Denver, CO. AUM: Not publicly disclosed. Incident history: No incidents.

Withdrawal Flexibility (9.5 vs 9.5)

Unchained withdrawal fees: Network fees only. Minimum account: No minimum for basic vault. Supported assets: Bitcoin.

Casa withdrawal fees: Network fees only. Minimum account: No minimum. Supported assets: Bitcoin, Ethereum.

Reporting & Audit (6.0 vs 5.0)

Unchained: SOC compliance is N/A (client-controlled keys). Not classified as a qualified custodian.

Casa: SOC compliance is N/A. Not classified as a qualified custodian.

Counterparty Diversification (6.0 vs 6.5)

Unchained is a collaborative custody provider. Key management: 2-of-3 multisig. Client holds 2 keys (hardware wallets), Unchained holds 1 key. Client can always transact independently..

Casa is a collaborative custody provider. Key management: 2-of-3 (Standard) or 3-of-5 (Premium) multisig. Casa holds 1 key, client holds rest on hardware wallets + mobile..

Fees

Fee Comparison

Side-by-side fee breakdown for Unchained and Casa.

Fee Type	Unchained	Casa
Setup Fee	Free (basic) / $250 (concierge onboarding)	Included in subscription
Annual Custody	$250/year (Standard) / $1,200/year (Premium)	$30/month (Standard) / $178/month (Premium) / Custom (Diamond)
Transaction	No transaction fees for self-managed	No transaction fees
Withdrawal	Network fees only	Network fees only

Unchained: Also offers Bitcoin-backed loans. IRA custody available at additional cost.

Casa: Diamond tier includes dedicated advisor, custom security review, and Covenant inheritance protocol.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Unchained	Casa
2-of-3 and 3-of-5 multisig options	✗	✓
2-of-3 multisig vaults	✓	✗
Bitcoin-backed loans	✓	✗
Casa Covenant inheritance protocol	✗	✓
Client holds majority of keys	✓	✗
Concierge onboarding with Bitcoin expert	✓	✗
Dedicated security advisors (Premium+)	✗	✓
Geographic key distribution guidance	✗	✓
Health check system for key verification	✗	✓
IRA accounts	✓	✗
Inheritance planning (Unchained can assist beneficiaries)	✓	✗
Key replacement assistance	✓	✗
Key rotation and replacement	✗	✓
Mobile app for easy key management	✗	✓

Recommendation

Who Should Choose Which?

Unchained is better if you…

✓Are a hnw individuals
✓Are a families
✓Are a small institutions
✓Are a self-sovereignty advocates
✓Want: Client always maintains control — can move funds without Unchained
✓Want: Excellent for inheritance planning
✓Want: Very transparent, affordable pricing ($250-1,200/year)

Casa is better if you…

✓Are a hnw individuals
✓Are a families
✓Are a privacy-focused holders
✓Are a non-technical bitcoin holders
✓Want: Best-in-class UX for self-custody — genuinely easy to use
✓Want: 3-of-5 multisig is one of the most secure consumer setups available
✓Want: Casa Covenant solves the inheritance problem elegantly

FAQ

Frequently Asked Questions

Is Unchained or Casa better for Bitcoin custody?

Unchained scores 7.1 vs 6.7 in our weighted Custody Score. Unchained leads in 6 of 8 scoring categories. However, the best choice depends on your specific needs: Unchained is best for HNW individuals and Families, while Casa suits HNW individuals and Families.

What is the difference between Unchained and Casa?

Unchained is a collaborative custody provider, while Casa is a collaborative custody provider. Unchained excels in Fee Transparency, whereas Casa is strongest in Withdrawal Flexibility.

How do Unchained and Casa fees compare?

Unchained charges $250/year (Standard) / $1,200/year (Premium) annual custody fees with No transaction fees for self-managed transaction fees. Casa charges $30/month (Standard) / $178/month (Premium) / Custom (Diamond) annual custody fees with No transaction fees transaction fees.

Which is more secure, Unchained or Casa?

Unchained scores 8.5/10 for security while Casa scores 8.0/10. Unchained uses 2-of-3 collaborative multisig key management, and Casa uses Collaborative multisig (2-of-3 or 3-of-5).