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Board Web Wallets
Re: Coinbin multisig wallet and addresses. How own the address?
by
OmegaStarScream
on 14/11/2016, 09:09:55 UTC
Anyone can send funds to the multi signature address (that starts with 3) but in order to release the funds (send from it) then signature from 2 addresses are required. Once the you generate the address Coinbin should give you more details and everything you should to know.

I don't understand how to receive a payment from a multisig address (that starts with 3).

I can generate this with Coinbin https://coinb.in/#newAddress
(which generate and give me 1 BTC address, 1 public key and 1 private key).
and after on https://coinb.in/#newMultiSig   I can have multisig address.

But once buyer send payment to this multisig address, where the funds go? Which wallet own that address?
How can I receive a payment from this?

I can't find any tutorial or guide on Internet to explain this.
Can you help me please?
Thank you very much

Multisignature address is basically associated with more then one private key (unlike addresses that starts with 1) which means both keys are needed to send the funds from that address. If you want a really detailed explanation then I'd recommend reading this article : https://en.bitcoin.it/wiki/Multisignature (mostly the Multisignature Transactions part)