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Understanding multisig wallets what is a multisig wallet Multisignature wallets can keep your coins safer (if you use them right) multisignature wallets are cryptocurrency wallets that require two or more private keys to sign and send a transaction. What is a multisignature wallet

A multisignature wallet, often referred to as ‘multisig’ for short, is a cryptocurrency wallet that requires multiple private keys to authorize a transaction Get comfortable with the wallet Therefore, instead of a single person signing off on a transaction, multiple parties must do so

A multisig wallet works similarly to a shared bank account, where two or more account holders need to.

To understand multisig, it’s important to first understand the predecessor method of bitcoin storage It involves just one master private key, which can generate addresses for receiving bitcoin. The cryptocurrency network creates a transaction whenever a user transfers funds from his or her wallet. Step 1:determine how many signatures are needed to authorise transactions

Decide on each wallet’s residence

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