Unchained Capital, headquartered in the United States, provides a range of crypto financial services including Bitcoin-backed loans, secure Bitcoin cold storage solutions for corporate treasuries, Bitcoin inheritance planning, and Bitcoin IRAs, among others.
What Does Unchained Capital Do?: Main Features
Unchained Capital offers personalized Bitcoin-related financial services tailored to the needs of individuals and businesses embarking on their Bitcoin journey. To support their objectives, the company provides a suite of essential features, including the following:
Unchained Capital Loans
Unchained Capital has stopped offering consumer loans. When we reached out to them, they said, “We expect to resume consumer lending in the future but don’t have a timeline to provide. Please know that we are actively working on updating our consumer loan products and services during this pause. Upon restarting our consumer lending program, we look forward to delivering an enhanced borrowing experience. When consumer lending returns, we will make the announcement on our Product News Page
Unchained Capital offers Bitcoin-backed commerical loans globally with a 100% approval rate and no credit check. These loans serve as an excellent option for businesses seeking to retain their Bitcoin holdings over the long term or requiring access to dollars while maintaining a low tax basis.
To apply for Unchained Capital loan, you first need to create an account through the company’s website. You will have to go through the KYC process by providing the necessary documents and information. Next, you need to deposit your cryptocurrency collateral to the provided address, and you will receive the funds in your account the following business day.
If you’re located outside the USA and operate a global business, you can reach out to Unchained Capital via email to discuss your loan requirements. It’s worth noting that lending availability may vary by country.
Unchained loans have lending limits. The minimum amount you can borrow is $10,000 while the maximum limit is $1,000,000. The loan term is between 3 and 60 months. Institutional lending is available for loans of $3 million and above.
Unchained Capital Loan Rates
Unchained Capital offers competitive rates for its loans. However, there are no fixed interest rates. Interest rates depend on the loan amount and origination fees. The following are Unchained Capital interest rates on loans:
| Term | Interest Rate | Origination Fee | APR |
|---|---|---|---|
| 3-month | 9.25% | 0.50% | 11.16% |
| 6-month | 10.00% | 0.75% | 11.41% |
| 1-year | 11.00% | 1.00% | 11.92% |
| 2-year | 12.50% | 1.00% | 12.90% |
| 3-year | 14.00% | 1.00% | 14.22% |
For more information on obtaining a Bitcoin loan, you can refer to this guide.
Cold Storage
Unchained Capital offers multi-signature (multi-sig) cold storage vaults, providing enhanced security for your Bitcoin holdings. In this setup, there are three keys involved: you hold two keys, and Unchained Capital holds one key. This multi-signature arrangement ensures that even if you lose one of your two keys, or it gets stolen, Unchained Capital can use its key to assist you in recovering your wallet.
Importantly, with only one key in their possession, Unchained Capital cannot move your Bitcoin independently. However, they can collaborate with you to access your Bitcoin assets if you lose one of your keys.
For businesses, charities, trusts, or other entities seeking control over their Bitcoin holdings, Unchained Capital offers business vaults with essential tools for effectively distributing and managing control among your team and employees. FOr instance, in the event that an employee or team member departs, replacing a key is a straightforward process. Unlike other wallets, your vault history remains intact for continuity of operations and maintenance of your Bitcoin assets. Additionally, Unchained Capital now offers Bitcoin custody vaults where you don’t have to manage keys yourself. The company will do it for you.
Bitcoin Trading
Unchained Capital provides a direct trading desk for buying and selling Bitcoin without the need for custodial exchanges. When you engage with their trading desk, Bitcoin purchased is sent directly to your cold storage. You’ll interact directly with their team, eliminating any middlemen from the process.
If you need dollars, you can also sell Bitcoin directly from your cold storage. The minimum trade amount is $2,000, and there is no maximum, although trades exceeding $100,000 require pre-funding. It’s important to note that trading services are currently only available in the US.
For further details on buying or selling Bitcoin, you can refer to this resource.
Bitcoin IRA
Unchained Capital offers Bitcoin IRA features, combining the inflation resistance of Bitcoin with the tax advantages of an IRA. With both Traditional and Roth IRAs available, you have the flexibility to choose the setup that aligns best with your savings goals. Unlike most Bitcoin IRA providers that require you to relinquish control of your Bitcoin, Unchained IRA allows you to retain control of your keys, mitigating risks associated with exchange hacks and frozen accounts.
Unchained Capital assists you in setting up your new IRA, funding it through rollovers or contributions, establishing your vault, and purchasing Bitcoin. This service is currently available in the US only, with a minimum of $2,000 required for each USD rollover or annual contribution. You are not obligated to make a rollover or contribution in any given year, providing you with flexibility in managing your retirement savings.
Bitcoin Inheritance
Unchained Capital’s Trust vaults come with crypto inheritance protocol to ensure that your heirs can access your Bitcoin without needing technical expertise. With Trust vaults, the legal ownership of your Bitcoin is clearly outlined, preventing potential legal disputes for your heirs after your passing. Through collaborative custody, you can share a seed phrase with your heir without disclosing specific details about how your Bitcoin is secured or the exact amount you hold. The Inheritance feature is included as standard with Concierge Onboarding, ensuring a seamless process for setting up your estate planning needs.
Unchained Capital Fees
Unchained Capital charges various fees depending on the service you use. Here’s a breakdown of their main fee categories:
| Service | Pricing |
|---|---|
| Personal vault | $250 / year |
| Business vault: Basic | $250 / year |
| Business vault: Per user, Pro | $2,500 / year |
| Business vault: Enterprise | Custom |
| Trust vaults for inheritance | $250 / year |
| Bitcoin IRA: SETUP | $995 (One-time setup fee, includes first year of IRA account fees) |
| Bitcoin IRA: Optional Additions | |
| Concierge Onboarding (optional) | $250 |
| Per hardware wallet (optional) | $75 |
| Bitcoin IRA: ANNUAL | $250 (Ongoing fees per IRA account, starting year two) |
| Sign up fees: Self-setup | $0 |
| Sign up fees: Concierge Onboarding | $750 |
Is Unchained Capital Safe and Legit?
Unchained Capital is a trustworthy and secure financial institution licensed in the United States. It uses advanced security measures to safeguard user assets and information. One such measure is the use of multisignature P2SH addresses. These addresses are generated using a customer’s extended public keys, ensuring that Unchained Capital never has access to user private keys. Additionally, all keys utilized by Unchained Capital are stored in offline air-gapped wallets.
Customers also have the option to undergo video verification of their identity for transaction signing requests and 2FA resets. Furthermore, Unchained Capital encrypts all data both in transit and at rest using AES-256 encryption. All access to sensitive resources requires two-factor authentication (2FA). Hardware devices storing keys are kept in geographically separated, physically secure locations, and wallet seeds are stored in physically secure locations separate from the wallets they restore. These comprehensive security measures demonstrate Unchained Capital’s commitment to providing a safe and reliable financial environment for its customers.
Customer Support
Unchained Capital offers customer support through email; [email protected] and phone: +1 (844) 486-2424. They also offer premium support at a fee of $250 per issue for those who would want their problems solved quickly. You can also sign up for an annual subscription of $2,000 per year.
Is Unchained Capital Good for You?
Determining whether Unchained Capital’s services are suitable for you depends on your goals and needs. If you prioritize security and control over your Bitcoin assets, Unchained Capital’s offerings, such as their cold storage vaults and Bitcoin IRA options, may align well with your goals. It’s worth noting that they only support Coldcard, Trezor, and Ledger hardware wallets, which may influence your decision if you prefer other wallet options.
However, you should also consider factors such as their IRA setup fees, which are a bit steep at $995. Keep in mind that each Bitcoin IRA you set up will require a separate setup fee and account fee, which can add up if you plan to manage multiple accounts. Additionally, when selling Bitcoin using their trading desk, you’ll need to provide paperwork proving that the Bitcoin was purchased legally before you can sell it.
It’s important to note that if you prioritize non-KYC (Know Your Customer) Bitcoin transactions and services, Unchained Capital may not be the recommended option. Some users prefer platforms that offer more privacy and anonymity in their Bitcoin transactions.
Overall, carefully assessing your own requirements and conducting thorough research will help you determine if Unchained Capital’s services are the right fit for you, taking into account factors such as security, fees, and compatibility with your preferred hardware wallets.
Uchained Capital Alternatives and Competitors
Here are some alternatives to Unchained Capital:
Frequently asked questions
What does Unchained Capital do?
Unchained Capital is a Bitcoin financial services company that provides a variety of services, including lending, trading, custody, and bitcoin inheritance solutions.
Is Unchained Capital legit?
Yes, Unchained Capital is a legitimate and reputable company in the cryptocurrency industry. They have been operating since 2016 and have gained recognition as a trusted provider of financial services for Bitcoin users.
How safe is Unchained Capital?
Unchained Capital prioritizes the security of its platform and user funds through measures such as multisignature wallets, collaborative custody, hardware security modules (HSMs), and insurance coverage.
What wallets are supported by Unchained Capital?
Unchained Capital currently supports a range of hardware wallets, including Trezor Model One, Trezor Model T, Ledger Nano S, Ledger Nano S Plus, Ledger Nano X, Coldcard Mk2, Coldcard Mk3, and Coldcard Mk4. However, Unchained Capital does not provide support for software wallets at this time.
What are Unchained Capital loan rates?
Unchained Capital offers competitive loan rates that are determined based on factors such as the loan amount and origination fees. Unlike fixed interest rates, their rates are variable and can vary depending on individual loan circumstances.
Is Unchained Capital Secure?
Unchained Capital takes security seriously. They use advanced private key architecture, which is more secure than two-factor authentication. Additionally, they have multi-signature cold vaults where you can store your digital assets offline. This extra layer of protection helps safeguard your assets. They also employ measures like multisignature wallets, collaborative custody, hardware security modules (HSMs), and insurance coverage to enhance security further.
How Does Unchained Capital Make their Make Money?
Unchained Capital generates revenue through several avenues within its business model. Firstly, they earn income from the interest charged on crypto loans they provide to borrowers. Additionally, Unchained Capital may charge origination fees when issuing loans to cover administrative costs. They also offer collateral management services and may charge fees for managing and safeguarding the collateral assets during the loan term. Revenue can also be generated through the margin or spread between the interest rates charged to borrowers and the interest rates they pay on borrowed funds.