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Topic: Should I move my cold storage to multisig? - page 3. (Read 2562 times)

hero member
Activity: 728
Merit: 500
I was keeping my bitcoins in standard wallet with good strong encrypted password. What is multi Signature and how can I use it ? Where I can get it from ? How is it more safer than standrad encrypted wallet ?
hero member
Activity: 910
Merit: 1000
I have a good chunk of my coins in Cold storage, and don't really sway towards going over to have multi sig for them.
Cold storage is usually pretty safe.
legendary
Activity: 3542
Merit: 1352
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I don't have that much though, but still a pretty decent amount to protect. I'm using a standard wallet and printed it in a paper, laminated it and keep it in a place where I think it's safe. I don't want to complicate simple things for me but if events push me to do so, then I'll probably look into making one.

I suggest you to use a multi address, or better use greenAddress the web wallet with a lot of features. Check it here:

- https://bitcointalksearch.org/topic/greenaddress-open-source-multisig-wallet-service-521988


However in that case you have asked for a cold storage so it should be "offline" then in that case the type of address does not matter (so much).

Reading the thread now, and it seems that I wouldn't jump on this green address yet until I fully understand the concept of multisig addresses. Thanks for linking this one, redsn0w.
legendary
Activity: 1820
Merit: 1001
I only use paper wallets as cold storage lot safer than using anything else and only take them out when really needed to.
legendary
Activity: 2940
Merit: 1865
...

I have enough BTC to want to protect them, but not large enough to really worry about it.

My solution is to keep most of them split between a Ledger Nano and a Trezor (hardware) put away in cold storage.  And enough (small amount) at blockchain.info for convenience.

But, I do hide the Ledger and Trezor!  I just read on another thread that the current Trezor can be defeated with a skilled user of an oscilloscope.

I know nothing about multi-sig.  Someone could write a useful post (I hope) that would introduce the subject to us non-tekkies.
legendary
Activity: 1442
Merit: 1186
Is it possible to create multisig paper wallet ? If yes, how ?

Yea you can create one manually with bitcoin core in the console, and then save the 3 private keys, and the redeem script to paper. Easy for a typo error though, so I'd probably use a USB thumb drive instead of paper.
legendary
Activity: 1778
Merit: 1043
#Free market
I suggest you to use a multi address, or better use greenAddress the web wallet with a lot of features. Check it here:

- https://bitcointalksearch.org/topic/greenaddress-open-source-multisig-wallet-service-521988


However in that case you have asked for a cold storage so it should be "offline" then in that case the type of address does not matter (so much).
sr. member
Activity: 728
Merit: 256
Is it possible to create multisig paper wallet ? If yes, how ?
hero member
Activity: 504
Merit: 500
How many of you keep your cold storage in multisig addresses for additional security?

I've been doing this bitcoin thing for a little while now and I've built up a decent stash. I have mine on a standard address I created with dice, and backed it up on thumb drives, paper and in a safety deposit box at the bank. My back ups are still in base 6 format so if someone else somehow came across them they likely wouldn't know what it was or how to convert it -- so I think it's pretty secure.

Wondering how many of you keep your stash on multisig addresses.

I've been wondering the same thing.

I keep my stash on various paper wallets. But I'd have to figure out how to make a multi-sig wallet if I was going to move them.
legendary
Activity: 1652
Merit: 1007
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I use both. Cold storage with multi sig wallet. Not that I have something to protect, unfortunately, but still, I like to play safe.
legendary
Activity: 924
Merit: 1002
I am using standard address so far, but I am thinking to move it to multisig. How the others? I am looking for ideas.
legendary
Activity: 1442
Merit: 1186
How many of you keep your cold storage in multisig addresses for additional security?

I've been doing this bitcoin thing for a little while now and I've built up a decent stash. I have mine on a standard address I created with dice, and backed it up on thumb drives, paper and in a safety deposit box at the bank. My back ups are still in base 6 format so if someone else somehow came across them they likely wouldn't know what it was or how to convert it -- so I think it's pretty secure.

Wondering how many of you keep your stash on multisig addresses.
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