Pages:
Author

Topic: 2-of-3 vault: Can I spare myself passphrases, words seeds and PIN? - page 2. (Read 354 times)

jr. member
Activity: 43
Merit: 10
Thanks for your comment.
What's the purpose of this multi-sig wallet? Did you use it to store your trading money, so you need to make transfers regularly, or did you use it for something else? Knowing the purpose might also help others to give you suggestions for a better setup in terms of flexibility and security.
It will be used as a cold wallet, hence to store my share of BTC which won't move frequently.

If security is your goal, I think this hassle you mentioned is an acceptable trade-off. I've seen users lose money because they only use a single hardware wallet/air-gapped device, and when a keylogger/malware attacks them, their money got drained easily. This should help you avoid that at least.
That's precisely my goal with a 2-of-3 multisig: to avoid a single point of failure (like the desktop being compromised by a keylogger).
Isn't it enough to have 2-of-3 multisig or do I need to add passphrase, seed, PIN for one (or all) of them?
legendary
Activity: 2170
Merit: 1789
If security is your goal, I think this hassle you mentioned is an acceptable trade-off. I've seen users lose money because they only use a single hardware wallet/air-gapped device, and when a keylogger/malware attacks them, their money got drained easily. This should help you avoid that at least.

What's the purpose of this multi-sig wallet? Did you use it to store your trading money, so you need to make transfers regularly, or did you use it for something else? Knowing the purpose might also help others to give you suggestions for a better setup in terms of flexibility and security.
jr. member
Activity: 43
Merit: 10
Hi

My 2-of-3 vault I'm trying to set consists of:
- a Desktop electrum at one house
- a Trezor at another house
- a Mobile phone electrum (most of the time on me)

So, that's already quite an organization when you want to send some BTC from this 2-of-3 multisig.
But each of them has by default: a passphrase (or a PIN for the Trezor), a words seed. So, you multiply by 3 the cumbersomeness of this configuration.
Can I spare myself all of those? What do you think?

Thanks!
Pages:
Jump to: