Managing your third key (cloud key) through your Swan account provides increased security and convenience when moving funds. In a traditional multisig set-up, you would need to keep your two hardware keys nearby to approve transactions.
With the Swan Vault, you can move funds using one of the keys you hold locally and your cloud key. Your second signing device can remain safe as a backup in a separate location. This setup provides convenience and helps to reduce security risks and localized disasters from impacting you.
There is also a 72-hour security hold before any transactions involving your cloud key are broadcast to the Bitcoin network. This acts as an additional safeguard.