What is a MultiSig wallet?

[Suba]

A MultiSig Wallet (Multi-Signature Wallet) is a crypto wallet that requires multiple signatures to validate a transaction, so in a transaction sending/transferring crypto to another wallet a multisig wallet requires more than one key or signature to increase the security of crypto stored in the wallet .

Multisig crypto wallets have been in operation since 2013 in various forms/types, so users must be able to decide exactly when setting up private keys, how many private keys are available and how many are needed to validate a transaction. There are several types of multisig wallets that we often encounter, such as two-of-three, two of two, three of four, five of seven, etc. Examples of multisig wallets are Electrum.org, Bitcoinarmory.com, Whalesheaven.com, Coinbase, Ledger Nano X etc.

 

[Starmix]

There are so many crypto wallets. About this water you introduced here, it is my first time hearing about it, but I am so thankful and grateful for having additional knowledge of crypto wallets. Thank you for sharing, I may try to check this later.

 

[saoussen5765]

For Trust Wallet there is two times means first time is Wallet Connect then Sign then Retrieve Encryption Keys so it is considered as Multi Sig Wallet or could you give example of wallets?

 

[Suba]

For Trust Wallet there is two times means first time is Wallet Connect then Sign then Retrieve Encryption Keys so it is considered as Multi Sig Wallet or could you give example of wallets?

Trust wallet is not a type of multisig wallet, minimum 3 signatures, if two agree then the transaction process can continue, for example father, mother and you signed. but just two of you and mother. for example I have mentioned above, but there are many more like Copay, BitGo etc.

 

[saoussen5765]

Trust wallet is not a type of multisig wallet, minimum 3 signatures, if two agree then the transaction process can continue, for example father, mother and you signed. but just two of you and mother. for example I have mentioned above, but there are many more like Copay, BitGo etc.

Thanks for clarification.

 

[Chibson]

I think these types of wallets are the most secure because before you execute a transaction they will need a lot of security measures. Trust wallet is actually not this way.