Tradeoffs Between Singlesig and Multisig Wallets

Foreign [Applause] As with everything there's trade-offs And so we'll just talk about each each Of these works with the pros and cons Are uh single Zig is probably the one We'd recommend for most people Especially people starting out it's just One thing to back up it's just a Recovery phrase it's very easy to Recover and spend from but it does mean You have this central point of failure Where if someone gets you 12 words your Bitcoin is gone so again great for Practicing um great for a lot of people Still just in general but it's different For everyone's threat model I need to Kind of think about what are you more Worried about losing your coins due to Complexity or due to them being stolen So if you kind of want to boost your Your game a little bit your Advanced User you're ready to build some more Security into your system you can use Something like multi-sick where instead Of just those 12 words let's say you Have a three to five wallet where There's five Keys geographically Distributed and you need three of them To spend your Bitcoin Um of course it's going to be more Complicated setup but it's also going to Be harder too Statistic deal or for someone to get all

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Three of your keys in order to spend With multi-sig also comes some extra Challenges with backing up you need to Make sure you have your your wallet Config and all the things surrounding Around that if you lose it then you need All five keys to restore your wallet and Yeah there's just a lot of things that Can go wrong and so more security Um And again everything is trade-off so It's also harder to back up and I think You just need to be no matter what you Choose you just need to be very sure That you know what would happen in any Scenario how you would get access to Your keys uh to your Bitcoin if you lost One of your keys or pretend you lost two Of your five multi-stig keys and what Would you do in that scenario what if Your phone broke and your wallet Config's no longer there so It just needs to be thought about each Person like what are they concerned About what is the threat model and just Practice make sure you know what you're Doing in case you know something happens

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