Tiny info on multi-sig by our OG Andreas Antonopoulos: https://www.youtube.com/watch?v=Vhedu2XD3hU
It's three years old but still valid.
Personally I love the 2-out-of-3 multisig option. 3 seed-phrases is still manageable and it gives extra security, because if one key is compromised /stolen, the funds can still not be accessed.
While at the same time if one key is LOST, you can still just use the other two keys to generate your actual wallet.
Great combination of security and feasibility.
EDIT: Important to also SAVE the master public key, otherwise restoring with able to restore your wallet with only 2 of 3 seed phrases. Thanks @hosseinimr93 for the info.
Topic: Wallet Security - page 2. (Read 383 times)
Quote
Note: Multisig wallets are for advanced users only
Above is an excerpt from the first reply/link on this topic.
that and most of the replies here are impactive as well as frightening and as such having some aspects of red flag for me right now via my proposal.
I think I need to first get very advanced first in order to make this move. I would appreciate more leads through.
If you can't manage a single-signature wallet, then managing a multi-signature wallet might be a bad option.
Single signature wallets are the standard wallet, and you can't use non-custodial crypto if you don't know how to manage them.
It is also worth to know that the wallet should be on different devices.
Seed 1, MPK 2
Seed 2, MPK 3
Seed 3, MPK 1
I saw this on a post recently and I saw it to be a good backup option for 2-of-3 multisig. The approach would be good for others m-of-n multisig if done correctly.
Create your multi-signature wallet, if you know what exactly your are doing and don't forget to keep all seed phrases and master public keys is safe places.
And it is advisable that the backups can be in this order, safe in different locations:Seed 1, MPK 2
Seed 2, MPK 3
Seed 3, MPK 1
I saw this on a post recently and I saw it to be a good backup option for 2-of-3 multisig. The approach would be good for others m-of-n multisig if done correctly.
I've a single signature wallet but I heard recently that the multi-signature wallet has more security and that interests me as my stored assets increases.
It depends on how you set it up correctly, 2 out of 3 multisig wallets are fine if one is a hardware wallet, the other is in a safe place away from your home, and the third is in a safe place in your home. It's an extra layer of protection. If you can't manage a single-signature wallet, then managing a multi-signature wallet might be a bad option. 
I've a single signature wallet but I heard recently that the multi-signature wallet has more security and that interests me as my stored assets increases.
You can increase your security, if you create your multi-signature wallet in a correct way,.If you are going to create a multi-signature wallet and keep all the seed phrase in one place, you won't increase your security.
Create your multi-signature wallet, if you know what exactly your are doing and don't forget to keep all seed phrases and master public keys is safe places.
Yes, you're going to need to create a new wallet. You can't keep the one you currently have.
I'm guessing you're using Electrum? If so, you can check this step by step guide on how to create the wallet: https://bitcoinelectrum.com/creating-a-multisig-wallet/
I'm guessing you're using Electrum? If so, you can check this step by step guide on how to create the wallet: https://bitcoinelectrum.com/creating-a-multisig-wallet/
I've a single signature wallet but I heard recently that the multi-signature wallet has more security and that interests me as my stored assets increases.
However, I want to know if I'd be needing to create a fresh wallet, getting new seed phases then move assets to the new wallet Or there's a way I could upgrade to multi-signature using the former wallet.
However, I want to know if I'd be needing to create a fresh wallet, getting new seed phases then move assets to the new wallet Or there's a way I could upgrade to multi-signature using the former wallet.
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