Explaining how multisig wallets work, who they’re for, and what to keep in mind when using one for the first time.
For most people, using a hardware wallet with a single wallet backup is more than enough. It’s secure, easy to understand, and there is little room for error, which makes it both a great starting point for beginners while still being a solid solution for more advanced users.However, some users have more specific needs when it comes to securing their bitcoin. To increase the security (and complexity) of a wallet setup, multisignature wallets can be considered the “holy grail” of wallet security, as they’re a widely established standard that can be fine-tuned to very individual needs.The title of this blog post is, of course, a bit exaggerated. It’s virtually impossible to bundle every important aspect and all the interesting possibilities multisig has to offer into a single eight-minute article. Instead, let’s focus on the basics and explore how multisig works and whether you should or shouldn’t make use of this advanced security feature for your Bitcoin wallet.