Bitcoin.com Wallet offers support for MultiSig (shared) Wallets - advertised

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the bitcoin.com The team is happy to support the support for divided (multi -ig) wallets for Bitcoin and Bitcoin Cash in. to announce bitcoin.com-money exchange . This means that you can protect your most valuable wallets with a unique form of two-factor authentication, set up a corporate fund, get your children safely to Bitcoin and much more.

What are shared wallets?

Standard crypto wallets use a private key to access transactions and send them, while shared wallets need two or more private keys to access the funds connected to the wallet. Private keys in shared wallets are often passed on to different people who are referred to as participants. For example, if you have three private keys, you can keep one yourself and pass on the others to family members.

Why use shared wallets

The first main reason for using a shared wallet is that it is a solution to the problem, a The point of failure can lead to losing access to your money. For example, imagine that it burns in the apartment building where you live. Your computer and the paper keys for your assets ( btc / bch ) are destroyed. Without the keys, you have no way of accessing your money. But if your wallet is shared with others (who do not live in your building!) Or even with yourself if you assume that you have saved your secondary restoration phrase in another place, you still have access to your money.

Wallet application cases divide

By introducing several decision -makers, common wallets open up a number of unique applications. For example, you can save your child savings by making some money available to him in a crypto wallet. If it is a common wallet, you have the option of checking all the transactions you have initiated before you approved or reject them. Another frequent application is treasury management. Here, business partners or even an board of directors Shared Wallet participants can be, which guarantees transparency in the use of funds and at the same time the Legacy banking system deals. Here is a List with other ways to use divided crypto wallets .

How to set up a common wallet

  1. If not yet happened, Download it. down and install it bitcoin.com wallet app .
  2. Tap on the start screen of the app to + Add/import
  3. Select Add new shared wallet, and follow the instructions.

    4. Further information on setting up and using a common wallet can be found at This instructions for Bitcoin and This instructions for Bitcoin cash .

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