⭐ Merited by o_e_l_e_o (4)
I use such a ledger + electrum 2-of-2 wallet for long term storage. Besides the obvious pros there are a few cons:
1. On the ledger display it is impossible to check the receiving address. Ledger can't check the change address either. There is no such problem with some other hardware wallets.
Crap, that's a bummer. I haven't tried sending a transaction yet so I didn't know. Is there any solution for this?1. On the ledger display it is impossible to check the receiving address. Ledger can't check the change address either. There is no such problem with some other hardware wallets.
You just have to create in a file or print out a list of your addresses and check against it.
When Ledger is connected to Electrum, you can see your receiving address via Electrum on the Addresses tab, like the example I made previously below:
-snip-
Go to the 'Addresses' tab (View Menu -> Show Addresses), and make sure the addresses in all Cosigners are the same:
- Address Wallet (cosigner) 1:
- Address Wallet (cosigner) 2:
Go to the 'Addresses' tab (View Menu -> Show Addresses), and make sure the addresses in all Cosigners are the same:
- Address Wallet (cosigner) 1:
- Address Wallet (cosigner) 2:
2. You cannot sign a message.
I noticed this too.The following is the statement by ecdsa and SomberNight regarding this matter.
you do not sign a message with an address, but with a public key.
There is currently no way in the GUI/CLI to sign/verify a message with a privkey/pubkey; only "with" an address. If someone implements this, it could get merged, most certainly for the CLI. It does not look difficult to do.
BTW, I saw that Electrum has an Android app, would that suffice as the third setup?
Yes, you can use the Android version of Electrum to create a Multi-Sig wallet.