When it comes to Bitcoin, one of the few things harder than having the conviction to HODL during dips and massive green candle rips is securing your assets properly.
As we’ve seen with natural disasters, you never know when your seed phrase is one hurricane, fire, or tornado away from being destroyed. The question of how to protect digital wealth is more critical than ever and one Bitcoiners should be asking themselves often.
For Ralph Gebran, Managing Partner of Onramp MENA, the stakes are personal. He’s seen firsthand the devastating effects of a banking collapse, courtesy of Lebanon’s 2019 financial implosion.
Imagine waking up one morning to find that your entire life savings has been frozen, with only a paltry $100 monthly withdrawal limit to keep you afloat. That’s what happened to countless Lebanese citizens, including Ralph’s friends and family.
“That was a big moment for me,” Gebran reflects.
“Myself, my family, friends—everyone in some form got affected. Sadly, a lot of Lebanese people who lived abroad would send money back home because they’re like ‘Oh, our banking system is so secure.’ They used to pay 10% interest rates on the dollar and 15% on the Lebanese pound.”
This personal experience led Gebran to Bitcoin and ultimately to his role at Onramp MENA, where he’s dedicated to help institutions and high-net-worth individuals navigate the complex landscape of bitcoin custody.
It is important to understand that bitcoin custody isn’t one-size-fits-all. It exists on a spectrum with various options offering different trade-offs between security and accessibility.
The Bitcoin Custody Spectrum
- Hot Wallets: Think of hot wallets like cash in your physical wallet—quick, convenient, and perfect for small transactions. But carrying too much invites unnecessary risk.
These wallets are always connected to the internet, making them vulnerable to hacking, phishing attacks, and malware. Hot wallets are ideal for day-to-day use but should never be the vault for your life savings. - Hardware Wallets: Imagine a personal safe for your bitcoin. Hardware wallets offer superior security by storing private keys offline, away from internet-based threats.
However, they come with their own set of risks: physical damage, theft, or the loss of recovery phrases. Backups can mitigate these risks, but spreading your seed phrase across multiple locations increases exposure. One compromised location could mean total loss. - Multi-Signature (Multisig) Wallets: This setup requires multiple keys to authorize transactions, significantly enhancing security. It’s like needing multiple signatures to unlock a vault.
However, this added security comes with complexity. Setting up and managing multisig wallets requires technical know-how, and explaining recovery procedures to family members not well-versed in Bitcoin can be challenging. - Multi-Institutional Custody (MIC): Providing the highest level of security, MIC involves multiple regulated institutions each holding a key in a multisig setup. This model eliminates single points of failure.
As Gebran explains:
“Multi-institution custody literally eliminates single points of failure because you’ve decentralized institutional custody across three different entities.”
The trade-off? Privacy. While these institutions have legal and fiduciary responsibilities to protect your bitcoin, clients must share their holdings with third parties, sacrificing some degree of anonymity.
However, this structured oversight ensures institutional-grade security and seamless inheritance.
The Middle Eastern Advantage
Onramp MENA’s strategic position in the Middle East provides a significant advantage. Regulators in the region are proactive in shaping the digital asset landscape.
“Unlike in the US, they decided to front-run and actually build the regulatory framework,” Gebran explains. “Digital assets are really regulated here—you enter the market and know exactly what you can and cannot do.”
Beyond regulatory clarity, Onramp MENA is culturally attuned to its market.
The company recognizes Bitcoin as what Gebran calls “the most Halal form of money,” tailoring its services to the Muslim community and bridging the gap between traditional finance and digital assets.
There is a lot of noise on social media about what custody solutions Bitcoiners should use. Cutting through the noise means acknowledging that different stages of bitcoin ownership require different custody strategies:
- Small amounts? A hot wallet works.
- Larger holdings? A hardware wallet or multisig setup is prudent.
- Significant wealth? Multi-institutional custody (MIC) provides peace of mind.
“It’s okay to be worried,” Gebran reassures. “You don’t have to be worried about being judged if you decide not to self-custody. I personally think multi-institutional custody is a balanced approach, especially if your stack grows and you have a family.”
Every solution has trade-offs. Full self-custody requires significant responsibility and offers privacy, but it can make inheritance tricky.
If something happens to you, will your family know how to access your bitcoin? Training them properly or using MIC custody, where heirs have legal title to your bitcoin, can mitigate this risk.
Looking Ahead
Onramp MENA is continuously evolving.
They are exploring advanced setups like a 3-of-5 multisig configuration for clients requiring greater decentralization. Gebran also hints at developing region-specific bitcoin funds that allow in-kind bitcoin withdrawals, a flexible alternative to traditional ETFs.
Those who have held bitcoin long-term have benefited tremendously. If this trend continues, digital asset security will become increasingly non-negotiable.
Onramp MENA is leading the charge by providing institutional-grade security while respecting local culture and regulatory environments. Their approach blends the spirit of Bitcoin with the practical realities of safeguarding wealth.
As Ralph aptly put it while speaking with Bitcoin News, “Pain is the best educator.” Hopefully, people won’t need a painful lesson to take their custody seriously.
Generational wealth demands generational planning, and Onramp MENA aims to be a trusted partner in helping Bitcoiners secure their stack for the many generations to come.
