Topic: BitDirect allows for anyone to set up their own shared custody business (Read 86 times)
March 10, 2023, 04:32:34 AM
Creating a single point of failure where someone has the ability to easily take the funds and run? Well I can see is RED flags. Bitcoin is supposed to be the money and the bank with no man in the middle, but you want us to be the man in the middle for others, and yourself to be the second man in the middle, damn that's a scary threesome.🤣
March 09, 2023, 09:21:37 AM
The purpose of BitDirect operates similar to that of Unchained Capital where an independant third party holds a key in case of a loss of either of the two other keys. The difference is here an Advisor can have a list of clients all on one platform serviced from one hardware device.
BitDirect only holds a single key, and the other two keys are operated with hardware devices. The client can choose a person they trust to be the advisor / co-siner. We have linked the signing of BitDirect key to Google authenticator so if a hardware device and recovery seed is lost, the client with their Google Authenticator and the signing key of their Advisor / Co-signer will be able to restore a new device.
BitDirect is not linked to the altcoin in any manner.
We are a new company in the industry and hopefully over time we can be a trusted authority for holding only 1 of the 3 keys. So there is no way that we can make off with client funds.
The goal of this business is that we could have millions of Advisors who hold keys for the people that know and trust all neatly displayed on a single platform.
BitDirect only holds a single key, and the other two keys are operated with hardware devices. The client can choose a person they trust to be the advisor / co-siner. We have linked the signing of BitDirect key to Google authenticator so if a hardware device and recovery seed is lost, the client with their Google Authenticator and the signing key of their Advisor / Co-signer will be able to restore a new device.
BitDirect is not linked to the altcoin in any manner.
We are a new company in the industry and hopefully over time we can be a trusted authority for holding only 1 of the 3 keys. So there is no way that we can make off with client funds.
The goal of this business is that we could have millions of Advisors who hold keys for the people that know and trust all neatly displayed on a single platform.
March 09, 2023, 07:52:34 AM
What exactly is the main purpose of why you created Bitdirect?
To get access to 2-of-3 multi-sig wallets of the other signer?
I don't think someone will need this we can honestly make our own 2of3 or 2of2 multi-sig wallet without the help of other websites.
The risk of using your service is that we were just giving you access to our 2-of-3 multi-sig wallet and anytime you can extract private keys from your seeds or multi-sig master key and get the split funds.
So why would I use your service?
Weird I searched a bit about Bitdirect but it seems it's an altcoin called BITD and according to the thread, it is long gone(dead).
Here's the source: https://bitcointalksearch.org/topic/bitdirect-decentralized-payment-system-with-a-secured-network-bitd-1857875
In July 2019 someone sold their domain bitdirect.io from this post: https://bitcointalksearch.org/topic/crypto-related-domain-names-available-5162827
So how can we trust a newbie and your service here?
To get access to 2-of-3 multi-sig wallets of the other signer?
I don't think someone will need this we can honestly make our own 2of3 or 2of2 multi-sig wallet without the help of other websites.
The risk of using your service is that we were just giving you access to our 2-of-3 multi-sig wallet and anytime you can extract private keys from your seeds or multi-sig master key and get the split funds.
So why would I use your service?
Weird I searched a bit about Bitdirect but it seems it's an altcoin called BITD and according to the thread, it is long gone(dead).
Here's the source: https://bitcointalksearch.org/topic/bitdirect-decentralized-payment-system-with-a-secured-network-bitd-1857875
In July 2019 someone sold their domain bitdirect.io from this post: https://bitcointalksearch.org/topic/crypto-related-domain-names-available-5162827
So how can we trust a newbie and your service here?
March 09, 2023, 05:20:09 AM
- BitDirect launched a new platform that allows for anyone to set up their own shared custody bitcoin business. It's like the Airbnb of bitcoin custody.
BitDirect is an easy entry point for anyone to help manage people’s bitcoin all under one roof through a shared custodial, 2-of-3 multi-signature wallet structure coupled with offline private key storage facilitated through hardware devices.
Please view the video at
As an Advisor / Co-signer, you can perform the following tasks for your clients:
- Educate them on everything bitcoin related.
- Manage an additional multisignature key for their hardware device.
- Restore access if they lose their hardware device and recovery seed.
- Perform a secondary signing process when they send bitcoin.
- Send bitcoin to beneficiaries in an inheritance planning scenario.
- Help them with their hardware device setup.
- Set up an exchange account to purchase bitcoin or purchase bitcoin on their behalf and deposit it into their BitDirect accounts.
- Help them transfer their bitcoin from the exchange to BitDirect.
In return, you can set a bitcoin management fee through the platform.
Many people won’t ever do their own research and would rather have someone that can help them with everything bitcoin-related in return for a small fee. It is your chance to build a client base of friends, family, and people that know and trust you.
Together we can create millions of advisors who can help convert no-coiners into bitcoiners while simultaneously providing clients with the best practices for storing their bitcoin. Get bitcoin off exchanges!
There is no KYC.
We only hold a single key, so it is impossible to freeze or make off any funds.
We will be launching a referral program shortly for any new advisors referred.
We are a bitcoin-only company.
We have a testnet for you to play around with.
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