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Board Beginners & Help
Re: Seed phrase secure storage ideas, like multisig?
by
dzungmobile
on 27/08/2024, 10:49:34 UTC
If all coins are yours, I really don't think this is the best. Multisig is important when you hols funds of multiple people
It's more acceptable to lose coins that are not related to business and other people. If it is my coins, I am ready to lose it in a single signature wallet. I obviously know how to secure its access with a strong password and know risk that a single signature wallet is more vulnerable to hacks.

Multisig wallets are more secure than single signature wallets but it costs me more when making on-chain transactions, that I don't like to pay extra fees.

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I think a simple piece of paper with your 24 words (and a passphrase) and a backup in another paper in another place is enough.
Backups need to be stored safely in both places. There are other ways to do backups with metal sheets

Metal Bitcoin storage reviews with different tests (temperature, pressure, corrosion ...)
Securing your seed phrase with washers.

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Don't try to overcomplicate things...
It's classic advice for wallet backup.

How to back up a seed phrase