Quote from: o_e_l_e_o on June 28, 2021, 01:36:35 PM

Quote from: xenon131 on June 28, 2021, 09:37:05 AM

Definitely the multisig wallet would be better than single-sig one,

Well, it depends on what aspect of the wallet you are considering when you say "better". Multi-sig is likely going to be more secure than a single sig wallet, even one with a passphrase. However, to back up a multi-sig wallet properly you need to store the other xpubs along with each seed phrase, meaning if someone finds one of your back ups they can view the entire contents of your wallet. This is obviously not the case if someone finds one of your back ups in a single-sig-with-passphrase set up, as they can neither view your passphrased wallets or even know that they exist. Multi-sig also provides no plausible deniability.

I suppose you could combine multi-sig with additional passphrases, but at some point, you risk making things so complicated that you would struggle to recover your coins in an emergency.

Yeah the back up is a bit complicated if it's compared with the relevant procedure for single-sig wallet but I was considering the aspect of the trust to developer(s)/team(s) that have responsibility for wallet. Multisig would help to safe my funds if the security design pertaining to particular wallet were failed somehow.