Learn to build your own Bitcoin vault:
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:
For many people, collaborative custody using a company like Unchained will make the most sense, if they are OK with leaking some privacy:
Not investment advice! Consult a financial advisor.
Andreas doesn't like multisig for most people:
Example of multisig wallet config file:
Unchained is great for multisig collaborative custody:
How Multi-Sig Makes All Bitcoiners Safer:
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.
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#hardwarewallet
#Multisig
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