Seed phrase secure storage ideas, like multisig?
Seed phrase secure storage ideas, like multisig?
Hello,
from various information sources, by summary concludes the current seed phrase storage as best:
2 of 3 multisig.
My understanding is a seed phrase will have 24 words.
These 24 words are then engraved onto 3 stainless steel hexkeys, so when 2 of these hex keys are brought together, the 24 words are revealed.
Then the user needs to enter the passphrase to fully recover the wallet.
So, is there a cold wallet with the software to make the multisig, as I don’t know how to ‘split’ the 24 words into the 3 engraved stainless steel hexkeys?
Your seed phrase can have 12, 15, 18, 21 or 24 words, that depends on bits of randomness when you create your wallet by yourself or with a wallet software.
Multisig wallet or cold storage wallet can be good for you, and you can see guides below to understand steps to create them. With multisig wallet, you will have to pay more transaction fee than a single signature wallet.
There is another type, 2FA wallet like with Electrum wallet software. You will have to pay extra fee to Trusted coin which provides 2FA for your wallet.