Quote from: Mia Chloe on September 11, 2025, 06:35:59 PM

Quote from: Bluedrem on September 10, 2025, 05:57:21 PM

~snip

To put it out in words, multi signature wallets are used in cases of controlled spending basically in cases where more than one person has to sign the transaction for it to get broadcast. Using this for your personal funds is not necessary and is more stressing. Storing your keys and seed from a standard wallet is enough for a normal HODLER.

Permit me to gently disagree with this bolded statement above, Multi- signature it's also very good for storing personal funds. No matter how careful and securely you store your seed phrases offline, there's a possibility of it being compromised and in that case the criminal would make away with your funds easily but in the case of a multisig wallet, when you store the other credentials at different locations it wouldn't be entirely easy for the criminal since he cannot make away with the funds without locating the seed phrases to the other wallets to sign the transaction. It is good most especially for long-term holders who literally don't access their wallets often.

I've read of people who use multi signature wallets but keep their seeds for the different wallets at different locations making it harder to steal their funds. It is more secure using multisig even for your private funds as against using just a standard wallet