Bitcoin maximalists reacted negatively to the news that Casa has announced a new app with Ethereum support.
The custody service has been storing bitcoins since its inception, so bitcoin supporters feel betrayed by the move.
Casa will launch a new version in January 2023. This version allows users to store both his BTC and ETH, sign up for new membership plans, and unlock funds through the 2-of-3 multi-signature feature. The company’s first CEO, Jeremy Welch, was discussing plans to introduce multiple cryptocurrencies, but most users felt the platform should maintain its Bitcoin-only status.
Today we are proud to announce a major step into the future of private key management with Casa.
— Casa (@CasaHODL) November 30, 2022
Additionally, the platform has not only added support for Ethereum in an overhaul redesign, but also improved the overall user experience. Users can take advantage of a new set of membership plans and security features.
Reacting to the news, Twitter users asked for recommendations of good custodial services for BTC purists. Most of the other comments echoed similar negative sentiment, with another customer claiming ETH support was the perfect move to abandon their membership.
It’s hilarious to see Bitcoin Maxis in meltdown 😂
— George AM Ⓜ️🕸 (@GeorgeBLE17) November 30, 2022
Casa sets itself apart from other custodial solutions by leveraging the cryptocurrency’s multi-signature capabilities to create up to three private keys. For example, 2 out of 3 multisignatures are required for a user to withdraw or transfer cryptocurrency from a wallet. This means that even if a user loses one of hers, she can still access her funds using two multisignatures. The platform conceives its design as part of a vision of unlocking freedom through private keys.
Additionally, users simply deposit one of three keys with the platform, which Casa securely and conveniently stores. The mission of custodial service providers is to harness the power of effective private key management to protect users from the many hacks that plague the crypto space.