Wallets and Security | How do multisig wallets work? How are they different from regular wallets?
A multisig wallet requires at least m of the n private keys to sign together before assets can be transferred. This is often written as m-of-n, for example, 2-of-3.
The tradeoff is that multisig wallets are more complicated to use: every transfer requires collecting enough signatures, and executing a multisig contract on Ethereum also costs more Gas than a regular transfer.
By the way: $BTC is currently 82036, 24h +0.86%.
Treat any “customer support” representative who contacts you out of the blue as suspicious. Legitimate platforms never ask for your recovery phrase.
#BTC
A multisig wallet requires at least m of the n private keys to sign together before assets can be transferred. This is often written as m-of-n, for example, 2-of-3.
The tradeoff is that multisig wallets are more complicated to use: every transfer requires collecting enough signatures, and executing a multisig contract on Ethereum also costs more Gas than a regular transfer.
By the way: $BTC is currently 82036, 24h +0.86%.
Treat any “customer support” representative who contacts you out of the blue as suspicious. Legitimate platforms never ask for your recovery phrase.
#BTC