Part 9/11:
“Your choice depends on your risk profile, technical ability, and whether you prefer open-source transparency or convenience.”
Multi-Signature (Multi-Sig) Wallets: Enhanced Security
A multi-sig wallet requires multiple private keys (e.g., 2-of-3 or 3-of-5) to authorize a transaction.
Advantages: Protects against single-point failure, loss, or theft.
Use Cases: Large holdings, inheritance planning, or distributed security.
Practical Example
One key stored on your phone.
Others distributed geographically (e.g., with trusted friends or in secure safes).
To spend funds, multiple keys must be used, making theft or coercion significantly more difficult.