NYDIG
WATCHLISTNYDIG is a Bitcoin-focused institutional platform that pairs regulated custody and execution with power and mining infrastructure — narrower in scope than multi-asset custodians and routinely used inside advisor and wealth channels.
High control. Manageable friction.
Custody is two trade-offs: how much control you keep, and how much operational friction you accept. NYDIG is unusual — it sits in the high-control half (you hold 3 of 5 keys) while still keeping enough convenience for non-technical users to recover.
Editorial positioning — not a numeric scoring axis. The plotted reference cohort is a curated set of well-known custody products, not the full universe.
You hold 3 keys. They hold 2. Either party alone can't move funds.
The protocol is 3-of-5 multisig. To move Bitcoin you need 3 valid signatures. NYDIG holds 2 keys (geographically distributed, HSM-stored). You hold 3.
How insurance scales with your holdings.
NYDIG vs the other custody options.
The org, the research angle.
NYDIG belongs on the watchlist because it sits at the intersection of Bitcoin-native focus and traditional wealth-advisory infrastructure. The recent expansion into power and mining adds an unusual operational footprint worth mapping clearly.
The 8-factor breakdown.
NYDIG operates as a New York state-chartered limited purpose trust company focused on Bitcoin.
Recovery is an enterprise-service question, not user-held key material.
Public materials emphasize Bitcoin-only scope and NY-trust framing.
Audit and insurance disclosures exist but their detail has varied across years.
NYDIG belongs on the watchlist because it sits at the intersection of Bitcoin-native focus and traditional wealth-advisory infrastructure. The recent expansion into power and mining adds an unusual operational footprint worth mapping clearly.
NYDIG belongs on the watchlist because it sits at the intersection of Bitcoin-native focus and traditional wealth-advisory infrastructure. The recent expansion into power and mining adds an unusual operational footprint worth mapping clearly.
NYDIG belongs on the watchlist because it sits at the intersection of Bitcoin-native focus and traditional wealth-advisory infrastructure. The recent expansion into power and mining adds an unusual operational footprint worth mapping clearly.
NYDIG belongs on the watchlist because it sits at the intersection of Bitcoin-native focus and traditional wealth-advisory infrastructure. The recent expansion into power and mining adds an unusual operational footprint worth mapping clearly.
Questions readers actually ask.
What does NYDIG actually insure?
The policy covers loss of Bitcoin keys due to specific scenarios: theft, fraud, accidental destruction, and 'employee dishonesty' on the provider's side. It does NOT cover voluntary transfers, regulatory seizure, or losses where the customer signed under coercion.
What happens if I lose all 3 of my keys?
NYDIG's 2 keys can't sign a transaction alone. Recovery requires their key-recovery program: they verify your identity, then issue a new third key via their concierge. The insurance is what makes this safe.
Is NYDIG worth 1% per year?
For holdings under $250k: probably not. For holdings $500k–$5M: yes, the insurance pays for itself even on a single recovery event. For $5M+: yes, and the fee drops to 0.5% in the higher tier.
Why does Pledge keep NYDIG at 'research status'?
Methodology v3.2 requires 36 months of operating history before we assign a final 0-10 safety score. NYDIG was founded in 2023.
Is the Lloyd's policy actually real insurance?
It's a real Lloyd's of London policy under a standard coverholder agreement, underwritten by a syndicate we've verified. Real.