Nick Neuman: Securing Your Crypto - [Web3 Breakdowns, EP.85]

This is Eric Golden and my guest today is Nick Neuman, the CEO of Casa. Casa offers crypto users a secure and straightforward way to self-custody their assets, and today, we dive into this critical topic. We talk about the problems of self-custody, Casa’s solution, the recent addition of Ethereum to their platform, and the trade-off between security and usability. This is Nick’s second time on a Colossus Podcast after first appearing on an Invest Like the Best episode called “Becoming your Own Bank”, which I highly recommend. Please enjoy my conversation with Nick Neuman. Web3 Breakdown listeners can use code WEB3BREAKDOWN23 for 20% off your first year of a Casa Standard membership. For the full show notes, transcript, and links to the best content to learn more, check out the episode page here. ----- This show is brought to you by OKX. Want to stop paying trading fees? You can now trade for free for two months with OKX. Over 20 million traders and institutions choose OKX when they want to trade. And you can join them by signing up at okx.com/landingpage/okxtraderseries to start your two months of fee-free trading today. ----- Web3 Breakdowns is a property of Colossus, LLC. For more episodes of Web3 Breakdowns, visit joincolossus.com/episodes. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @Web3Breakdowns | @ericgoldenx | @patrick_oshag  Show Notes  (00:02:09) - (First question) - Introduction to Casa: simplifying self-custody for secure storage of Bitcoin and Ethereum (00:05:13) - The risks of overestimating security among even experienced crypto enthusiasts (00:06:01) - Private keys, single points of failure, and Casa's multi-key approach to security (00:11:44) - Mobile key security: SIM swapping and securing funds through layers (00:14:28) - Balancing security and convenience with different security levels (00:17:32) - Spikes in interest during moments of fear or price volatility (00:19:53) - Offering video calls to simplify setup for hardware wallets (00:21:18) - Transitioning to Ethereum while maintaining security and usability for users (00:27:07) - Future challenges of balancing security and ease in interacting with smart contracts (00:29:54) - The importance of self-custody, simplifying the process for mass adoption (00:34:07) - Anxiety and laziness often delay sign-up, eased by simplified processes (00:36:49) - Blending user understanding with an effortless product experience (00:38:56) - Self-custody, like setting up a will or life insurance, brings relief and security (00:40:59) - What he is most excited to build over the next six months and six years Learn more about your ad choices. Visit megaphone.fm/adchoices