Topic: help setting up 2-2 multisig wallet, using laptop and phone (Read 434 times)
Copay is an easy and nice android wallet, that supports multiSig and you can enable pin or fingerprint lock in the app too.
hey it worked! thx so much HCP! you made the instructions very clear and simple, exactly what i needed. now i understand it.
but i dont really like the electrum mobile wallet, very ugly, and no pin required to open the app! let me know if anyone can recommend a better multisig android wallet
but i dont really like the electrum mobile wallet, very ugly, and no pin required to open the app! let me know if anyone can recommend a better multisig android wallet
well personally i an best with a laptop instead of the rest of the sources mentioned. i hate using the phone for any dependable situation.
Ok, so the full process would be something like:
1. On Device #1 (ie. PC), create a new wallet
2. Select "MultiSig Wallet"
3. Select "2 of 2"
4. Select "Create a new seed"
5. Copy this seed down (we'll call it "PCSeed") and re-enter to confirm you have it saved properly.
6. Copy down the "xpub" that it displays (we'll call it "PCxpub")
--- Move to 2nd device
7. On Device #2 (ie. Phone) create a "MultiSig Wallet"
8. Select "2 of 2"
9. Select "create a new seed"
10. Copy this seed down (we'll call it "PhoneSeed") and re-enter it to confirm you have it saved properly.
11. Copy down the "xpub" that it displays (we'll call it "Phonexpub")
12. Select "enter co-signer key"
13. Enter "PCxpub" from Step #6
14. Wait while your wallet+addresses are generated.
--- Back to 1st device
15. select "enter co-signer key"
16. Enter "Phonexpub" from Step #11
17. wait while your wallet+addresses are generated.
Now, double check that the addresses generated on both devices are the same before you send any funds to the wallet! (check the address shown on "receive" tab on Phone matches first "receive" address listed on "addresses" tab on PC)
You should now be able to create a transaction on either the PC or the phone, that needs to be signed using the other device before it can be broadcast.
As for backups, don't worry about copying wallet files and backing up to USB... as long as you have the two seeds ("PCSeed" and "PhoneSeed") safely stored you'll be able to recreate your MultiSig wallet.
1. On Device #1 (ie. PC), create a new wallet
2. Select "MultiSig Wallet"
3. Select "2 of 2"
4. Select "Create a new seed"
5. Copy this seed down (we'll call it "PCSeed") and re-enter to confirm you have it saved properly.
6. Copy down the "xpub" that it displays (we'll call it "PCxpub")
--- Move to 2nd device
7. On Device #2 (ie. Phone) create a "MultiSig Wallet"
8. Select "2 of 2"
9. Select "create a new seed"
10. Copy this seed down (we'll call it "PhoneSeed") and re-enter it to confirm you have it saved properly.
11. Copy down the "xpub" that it displays (we'll call it "Phonexpub")
12. Select "enter co-signer key"
13. Enter "PCxpub" from Step #6
14. Wait while your wallet+addresses are generated.
--- Back to 1st device
15. select "enter co-signer key"
16. Enter "Phonexpub" from Step #11
17. wait while your wallet+addresses are generated.
Now, double check that the addresses generated on both devices are the same before you send any funds to the wallet! (check the address shown on "receive" tab on Phone matches first "receive" address listed on "addresses" tab on PC)
You should now be able to create a transaction on either the PC or the phone, that needs to be signed using the other device before it can be broadcast.
As for backups, don't worry about copying wallet files and backing up to USB... as long as you have the two seeds ("PCSeed" and "PhoneSeed") safely stored you'll be able to recreate your MultiSig wallet.
Trying to set up a 2 of 2 multisig wallet in electrum using my laptop and phone…
1) So I choose create multisig wallet 2 of 2
2) Generate 12 word seed
3) Its says “here is your master public key share it with your co signer”
4) I save my master public key to notepad doc on laptop
5) Please enter the master public key (xpub) of your cosigner. Enter their master private key (kprv) if you want to be able to sign for them
6) I open electrum on my phone
7) I need help…
What option should I choose; standard wallet, multi-signature wallet, watch bitcoin address?
Im guessing multisig? If so on the next screen what option do i select next?
create new seed
I already have a seed
use public or private keys
So am i meant to be setting up both wallets simultaneously, thats where i get lost.
So after the multisig wallet is setup does that mean I will have two private keys? One on my laptop and one on my phone? I can copy the wallet.dat from my laptop to USB fine (because i experimented with single wallet before), but what about my phone, is there also a wallet.dat on there too, if so where, and should I delete it from the phone too and back it up to USB?
con fu sing!!
1) So I choose create multisig wallet 2 of 2
2) Generate 12 word seed
3) Its says “here is your master public key share it with your co signer”
4) I save my master public key to notepad doc on laptop
5) Please enter the master public key (xpub) of your cosigner. Enter their master private key (kprv) if you want to be able to sign for them
6) I open electrum on my phone
7) I need help…
What option should I choose; standard wallet, multi-signature wallet, watch bitcoin address?
Im guessing multisig? If so on the next screen what option do i select next?
create new seed
I already have a seed
use public or private keys
So am i meant to be setting up both wallets simultaneously, thats where i get lost.
So after the multisig wallet is setup does that mean I will have two private keys? One on my laptop and one on my phone? I can copy the wallet.dat from my laptop to USB fine (because i experimented with single wallet before), but what about my phone, is there also a wallet.dat on there too, if so where, and should I delete it from the phone too and back it up to USB?
con fu sing!!
Jump to: