Bitcoin.com Wallet adds support for “multisig” shared wallets

Now you can set up Bitcoin and Bitcoin Cash wallets with shared access amongst up to six participants.

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Now you can set up Bitcoin and Bitcoin Cash wallets with shared access amongst up to six participants.   We've added support for shared Bitcoin and Bitcoin Cash wallets. That means you can set up new wallets with shared access amongst up to six participants. Protect your most valuable wallets with a unique form of two-factor authentication, set up a corporate treasury, safely introduce your kids to Bitcoin, and more. What are shared wallets? Basic crypto wallets use one private key to access and send transactions while shared wallets require one or more private keys to access the funds connected with the wallet. Private keys in shared wallets are often given to different people, called participants. For example, if you have three private keys, you might keep one yourself and give the others to family members.   Read more: Get a deeper understanding of private and public keys, and learn how Bitcoin transactions work.   Why should I use a shared wallet? The first key reason to use a shared wallet is that it is a solution to the problem of having a single point of failure, which can result in losing access to your funds. For example, imagine there is a fire in the apartment building you live in. Your computer and the paper backup keys for your assets (BTC/BCH) are destroyed. Without the keys, you have no way to access your funds. But if your wallet is shared with others (who don't live in your building!), you'll still have access to your money. The other key reason to use a shared wallet relates to the utility that comes with having multiple decision makers. For example, you can introduce savings for your child by providing her with some funds in a crypto wallet. If it's a shared wallet, you'll have the chance to review any transactions initiated before approving or declining.   Read more: Here's a list of the many ways shared crypto wallets can be used.   How to set up a shared wallet? If you haven't already, download and install the Bitcoin.com Wallet app. From the app's home screen, tap + ADD/IMPORT. Select Add new shared wallet, and follow the instructions.   For more details on how to set up and use a shared wallet, please refer to this guide for Bitcoin and this guide for Bitcoin Cash.   If you have any questions or concerns about shared wallets and how they work, don't hesitate to reach out to our 24/7 Support Team.     @2021 Saint Bitts, LLC 858 Zenway Blvd, P.O. Box 1830, Frigate Bay, Saint Kitts and Nevis  This email was sent to yogyabiz.bitcoin@blogger.com. To unsubscribe or manage your subscriptions click here. Have feedback for us? Submit here.