The 3 multisig wallets to strengthen your security

If you want to invest with peace of mind, you probably know how crucial it is to protect your cryptocurrencies. Indeed, having cryptocurrencies is a first step but it is possible to lose everything if you have not taken the necessary security measures.

The risks in crypto investing are greater than in traditional finance. There are risks of losing your private keys and risks of coming across scams.

Cryptocurrency cybercrime is on the rise and hackers are always looking for new ways to steal from their victims.

In order to remedy this, there are several steps to take and one of them is to use multi-signature wallets. Multisig wallets require multiple signatures or authorizations before a transaction can be made.

🔐 Multisig wallets are ideal for large sum hodlers because different individuals or groups can see the balances, but if they want to access and transfer the funds, they will need at least two sources – two private keys – to authorize the transactions.

This way, even if a hacker manages to obtain one of the private keys, they will not be able to access your funds. We have found for you the top 3 multisig wallets to use in 2023! Check them out and choose the one that suits you best.

1/ The Multisig safe from the BlueWallet application

Created in 2018, Blue Wallet has grown significantly over time. Today, it is one of the most popular wallets among crypto-holders.

The Blue Wallet Multisig Vault crypto wallet is easy to create and is known for its security. With it, users can store their bitcoins in a multisig vault. Multisig vaults provide an extra level of security for your funds. They prevent illegal access by requiring multiple signatures or approvals before a transaction can be made.

Furthermore, BlueWallet's multisig wallet can support up to two out of three multiple signatures. That is, it creates three private keys, but only two will be needed to sign a transaction. This adds extra protection since even if a key is stolen, the money in the wallet still remains safe.

Blue Wallet Multisig Vault makes creating new Multisig wallets simple and convenient. A crucial element of Blue Wallet Multisig Vault is privacy protection. In order to prevent the user's IP address from being disclosed during transactions, it uses the Tor network and supports onion addresses.

Additionally, the software also uses deterministic hierarchical wallets (HD). These create a new public key for each transaction and make it difficult for anyone to track transactions of a user.

It is a tool that takes into account all the parameters that characterize Bitcoin. The wallet also supports Lightning Network. Its vision and principles similar to Bitcoin have built a solid reputation. Its multi-sig vaults help combat phishing attempts, online and offline theft or malware infection.

Features of Blue Wallet Multisig Vault :

Customize the number of keys and address types;
Easily import or retrieve configurations and compatible with other wallets;
Securely back up signing keys and public keys;
Benefit from enhanced security with support for QR codes and PSBT;
Quickly change your settings to speed up signing or rotating keys in an emergency.

Download BlueWallet

2/ Electrum: The Open Source Bitcoin wallet on computer

Don't be fooled by the design which may seem old in the portfolio Electrum. The open source bitcoin wallet Electrum has been around since 2011 and has never failed in its mission. Its creator is Thomas Voegtlin and a group of volunteers maximalists contributes to its development. Electrum has been used by members of the bitcoin community.

What is worth the merit of the Electrum multisig wallet in this top 3 is the level of security it offers to its users. Here, each transaction produces a new address thanks to the hierarchical deterministic (HD) structure of the wallet, which makes it more difficult to track your crypto operations.

Of the free wallets out there, very few offer as many cutting-edge features as Electrum. It supports the hardware wallets for safer cold storage, and it offers advanced monitoring capabilities. It allows building multi-sig wallets, setting custom transaction fees, and using fee-based replacement (RBF).

Better, its integration of Lightning Network makes it an excellent wallet for fast payments. There simplified payment verification (SPV) function also allows a novice user to verify that a transaction is present in the Bitcoin blockchain.

Its main features are:

Keeping encrypted private keys on your PC;
The ability to use a secret word to get your money back;
Exporting the private key is possible for use with different Bitcoin clients;
Electrum's decentralized and redundant servers allow constant access;
Using SPV to verify each transaction in your history;
You can use a watch wallet only when you are online and keep your private keys offline;
The ability to distribute the spending rights of your coins between different wallets;
Support for third-party plugins like hardware wallets and multi-sig services.

Download Electrum

3/ Linen Wallet:

The excellent multisig wallet Linen Wallet offers unparalleled security and ease of use for buying, selling and trading digital currencies. This is the best option for Polygon and Ethereum users who are looking for the best multi-sig wallet available.

This is the smart contract from Gnosis Safe, renowned for its high levels of cryptographic security, which supports Linen Wallet. This is one of the most trusted wallets on the market, to which crypto funds and whales have trusted for a long time.

With a three-key system, the wallet is designed to provide the highest level of security. One of the keys remains in your cloud, another on your mobile device and the last one in the secure server by Linen. This system makes it easy to recover your wallet in the event of a problem, in particular by using your phone number, your email address or your cloud.

The main characteristics of the Linen wallet are:

Using the WalletConnect QR scanner;
Ability to buy cryptocurrencies with cards;
Wallet custodial and non-custodial ;
Ability to connect it to hardware wallets;
Available on iOS and Android
A community supported and funded project with a $35 million fund to cover potential customer losses.

Download Linen

Final word

There are other multisig wallets and we wanted to introduce you to the most reputable ones on the market. However, there are other multisig wallets that offer a paid service for backing up your keys. This is for example the case of the portfolio Key.Casa or Ledger Recover.

All multisig wallets generally rely on the same basic operating system. However, the latter is sufficiently secure to guarantee the security of your bitcoins. This prevents you from having your private keys in the event of theft or break-in at your home.

Moreover, multisig wallets represent a good alternative for those who cannot or do not want to use a portfolio equipment. It is a simple, yet effective technology that welcomes new users every day.

It is also possible to have a multig wallet on a open source physical wallet at which you will have noted your seed phrase on a metal plate. This is then the ideal combo if you are looking for strict security to preserve your cryptocurrencies.

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Note: This is not investment advice. Always do your own research. All investments involve risks.