Cold Storage for Cryptocurrency

Learn how our cold storage for cryptocurrency works.

SWP offers offshore cold storage for cryptocurrency wallets and keys. Clients can rent a safe deposit box housed within our secure storage facility in the Cayman Islands to store their wallets and keys for only $600 USD per year.

How Cold Storage Works

Making A Deposit

    Option A) We can arrange a FedEx shipment of your wallet and/or key to our Cayman Islands facility on your behalf. For $200 USD, we will provide you with a pre-paid FedEx label as well as a tamper evident bag to protect your wallet and/or key while in transit.

Once the package arrives at our facility (within 24-48 hours), an SWP representative will deposit the unopened tamper evident bag containing your wallet and/or key into your safe deposit box. We will then FedEx you two safe deposit box keys (you can elect to store one key at our facility for future use).

    Option B) Local clients or overseas clients who wish to hand carry their wallet and/or key to the Cayman Islands by commercial flight or cruise ship, can personally make the deposit into their designated safe deposit box by appointment.

Making A Withdrawal

    Option A) If you wish to make a withdrawal from your safe deposit box, you (or an Authorized Representative) will have to be present with your safe deposit box key in hand. You can make a withdrawal by appointment.

    Option B) You can elect SWP to make the withdrawal on your behalf (we will require one of your safe deposit box keys). We will arrange a FedEx shipment of your wallet and/or key to your physical address on file, or to an alternative cold storage location for a cost of $100 USD.

Reporting

As a non-financial institution, SWP has no wealth reporting requirements to either the Cayman Islands government or any foreign government or tax authority.

Auditing

Safe deposit boxes are not audited.

Visitation

You can visit and inspect your box by appointment. Two 30 minute visits per year are included free of charge. Subsequent visits and time are subject to a vistation fee of $50 USD per hour.

Other Valuables

You have the right to store other valuables in your safe deposit box, including precious metals, jewellery, documents, etc.

Rates & Fees

Box Rental: $600 USD per year.

Additional Option: Fire-resistant bags ($50 USD) are available for purchase.

Inbound FedEx Shipment: $200 USD per shipment. Includes a pre-paid FedEx label and a tamper evident bag. Also includes the return shipping of your safe deposit box keys.

Outbound FedEx Shipment: $100 USD per shipment. Includes a tamper evident bag.

Payment

Safe deposit boxes are billed annually in advance. Payments can be made by credit card, bank wire, ACH or by Bitcoin and Ethereum (via Bitpay).

Insurance For Data Drives

SWP cannot provide insurance for wallet and/or keys at this time, however other valuables stored in the box such as precious metals and jewellery can be insured up to $1,000,000 USD per box for a cost of $25 per $10,000 USD in value, per year.

Hiring A Safe Deposit Box

Please complete and return the application form for safe deposit boxes to SWP. Once received, SWP will prepare a safe deposit box rental agreement and send it to you.

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