Our criteria for rating these wallets is based on a number of factors including the security, useability, developer support and community approval. Now that you have an idea of what it is, we can a look at some of the best multi-signature wallets to use.
This is an ideal way to keep funds ultra-secure, to manage the assets of a company or community, and even for recovery if you lose your key. Only when a transaction is signed by 4 authorized signers does it become valid. In practice, this means you can set up a wallet to require 4 of 7 authorized signatures to make a valid transaction. It is used to share the responsibility for Bitcoin ownership and is also known as a means to increase the security of Bitcoin storage. Image via Bitcoinwikiįollowing that, a multi-signature wallet is one that requires more than one private key to conduct any transactions. Mechanics of a Bitcoin Multisignature Transaction.
