Is Bitcoin Multisig Still The Best?
Learn to build your own Bitcoin vault:
https://www.bitcoinuniversity.com/courses/76599-the-ultimate-guide-to-bitcoin
In this video, I discuss the complexity, security, and privacy tradeoffs of using single sig, multisig, and collaborative custody multisig Bitcoin cold storage.
Multisig is definitely not for beginners, but I think it is the logical final step for serious Bitcoiners who want to secure large amounts of their net worth in Bitcoin.
While single sig only really requires you to store one item securely (your 12 or 24 word recovery seed), multisig requires you to secure at least 2 out of the 3 recovery seeds in addition to a multisig wallet configuration file.
The latter config file is more like a treasure map, which if compromised can leak information about where your Bitcoin is held, but cannot result in the loss of your Bitcoin unless the attacker is also able to gain control of 2 out of 3 of your private keys.
My favorite multisig solution is a DIY multi-vendor, multisig vault that uses your own node to access the Bitcoin network, which I teach about in my paid course:
https://www.bitcoinuniversity.com/courses/76599-the-ultimate-guide-to-bitcoin
For many people, collaborative custody using a company like Unchained will make the most sense, if they are OK with leaking some privacy:
https://unchained.com/vaults
Not investment advice! Consult a financial advisor.
Andreas doesn't like multisig for most people:
https://www.youtube.com/watch?v=sjS5qF65Yos&ab_channel=aantonop
Example of multisig wallet config file:
https://unchained.com/blog/wp-content/uploads/2021/11/Unchained-Capital-2021-11-29-14-53-06.png
Unchained is great for multisig collaborative custody:
https://unchained.com/vaults
How Multi-Sig Makes All Bitcoiners Safer:
https://www.youtube.com/watch?v=_j4aSynAiX0&ab_channel=BitcoinUniversity
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#Bitcoin
#hardwarewallet
#Multisig
Disclaimer
Neither Bitcoin University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisors, registered investment advisors, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video, on this YouTube channel, or at www.Trader.University or www.BitcoinUniversity.com (henceforth, “the Sites”) should be construed as such by you. This video, channel, and the Sites should be used as educational tools only and are not replacements for professional investment advice. Trading or investing in new and volatile assets like Bitcoin can be risky.
-
9:32
Bitcoin University
6 months agoNo Way Out For Ethereum (Tragic)
4564 -
LIVE
Steven Crowder
2 hours ago🔴 LETHAL FORCE: Why They Have to Kill Trump to Beat Him | GUEST: General Flynn
58,796 watching -
LIVE
Major League Fishing
6 days agoLIVE Bass Pro Tour, Heavy Hitters, Day 5
1,285 watching -
UPCOMING
Benny Johnson
15 minutes ago🚨Unsealed Docs Reveal Biden FBI Authorized Use of DEADLY FORCE in Trump Raid | RNC HQ on LOCKDOWN
-
UPCOMING
The Shannon Joy Show
3 hours ago🔥WATCH The Skies! LIVE Exclusive W/ Dane Wigington On Global Plans To Spray The Sky & DIM The Sun🔥
527 -
LIVE
Jim Jordan
1 hour agoHearing on the Weaponization of the Federal Government
2,085 watching -
57:59
Graham Allen
2 hours ago🚨DOCS REVEALED🚨 Biden Admin Wants Trump DEAD OR ALIVE?!
16.6K88 -
45:09
Rethinking the Dollar
1 hour agoExplosive Growth: Shanghai's Yuan Silver Futures Break Records at 8,733 Yuan/kg!
533 -
LIVE
Matt Kohrs
10 hours agoMarkets Rip To New Heights, NVDA Earnings Preview & Live Trading || The MK Show
1,293 watching -
LIVE
LumpyPotatoX2
3 hours agoHappy Lump Day! - #RumbleTakeover
872 watching