Nunchuk Wallet is a Bitcoin wallet that designed to be robustly backed up and secure. Most Bitcoin loss is due to the owners’ mismanagement of their own keys, not external factors. Nunchuk aims to avoid these problems because:
- It allows you to lose one or more keys to your wallet and still be able to access your funds.
- It requires more than one key to spend, enhancing security.
- Transactions are signed by “single tapping” an offline keycard
The specific Nunchuk wallet service plans are:
- An “Iron Hand” plan, where your bitcoin is secured using multi-sig, one-tap signing and it’s backed up to the cloud. $120 annually.
- A “Honey Badger” plan that includes a multisig wallet with a built-in inheritance plan. $480 annually.
Nunchuk is available on iOS, Mac and Android.
More details below:
Multi-Signature Wallet Assistance
Nunchuk is a multi-signature Bitcoin wallet, or “multi-sig” for short. A multi-sig wallet requires multiple signatures (keys) to authorize transactions. This means that even if one key is lost or compromised, your funds remain secure because a transaction cannot be authorized with just one key. This setup reduces the risk of loss due to mismanagement of keys or external factors.
Supports “Single Tap” Transaction Signing
Nunchuk supports Near Field Communication (NFC) technology for signing transactions. This means you can use a device like TapSigner, which is essentially a Bitcoin private key on a card. You can sign transactions by tapping the card on your phone. See this FAQ for all the details.
Inheritance Planning
Nunchuk wallet offers inheritance support through a feature called the “Inheritance Plan.” This plan allows the user to set up a time-locked inheritance key, which can be accessed by a beneficiary on a future date specified by the owner.
The Inheritance Plan provides options for the owner to give the “Magic Phrase” and the “Backup Password” to a trustee or split them between the beneficiary and the trustee. Upon the activation date, the trustee or the beneficiary and trustee together can claim the inheritance.
Nunchuk’s inheritance planning feature is designed to ensure that the user remains in control of their funds and can make arrangements for their transfer in the event of unforeseen circumstances
Spending Limits
A spending limit restricts the platform key to only co-sign transactions that don’t exceed the spending limit for a given period. Use one of your hardware keys when spending small amounts, and require two for large amounts.
A co-signing delay gives you time to detect errors or unauthorized access before a transaction is broadcast.
Scheduled Payments
Nunchuk is the first Bitcoin wallet to offer scheduled payments. You can schedule transactions up to a year in advance.
Cloud Backups and Assisted Recovery
Nunchuk Wallet supports multiple wallet configuration formats and natively uses Bitcoin Secure Multisig Setup (BSMS). This means that you can recover your wallet using other compatible wallets, such as Sparrow, a popular desktop Bitcoin wallet.
Emergency Lockdowns
Nunchuk Wallet offers an emergency lockdown feature that allows users to temporarily lock their wallets in case of an imminent threat or if they need to go off the grid for a while.
