The wallet is a feature-rich and insecure wallet app for the cryptocurrencies Bitcoin Cash (BCH) and Bitcoin (BTC). Also known as a Single-signature (or multi-signature) wallet, a shared wallet can be accessed by two or more people and requires at least one cosigner designer to allow BCH spending. Then shared wallet to earn money by toptips4u.com.
Create a shared Bitcoin wallet by following these steps:
- Download the Bitcoin.com Wallet App for iOS, Android, Windows, Linux, or Mac
- On the main screen, click + in the Bitcoin Cash Wallets menu to create a new wallet.
- In the Add Wallet menu, select Create Shared Wallet
4 Set the wallet name, your name, the total number of contributors, and the required number of signatures required to send BCH from the shared wallet. Note: The total number of collaborators is the number of people or devices that have access to this wallet. The required number of signers is the number of people or devices that have to manually authorize the transaction before it is sent.
You can also scan this code or copy and paste a block of text wallet to earn money by toptips4u.com.
Why use a shared wallet?
Security: A single user with multiple devices can use a shared wallet to secure more potential transactions. In this way, even if your smartphone is stolen, the thief will not be able to spend from the shared wallet without the permission of the additional co-signers (i.e. one of his other devices) wallet to earn money by toptips4u.com.
Accounting: The shared wallet allows all collaborators to access a wallet's transaction history.
Guarantee or third-party mediation: To bet or buy something online.
Voting on the use of funds: A foundation can only be created to be able to make the payment after reaching the required minimum number of authorizations.
To understand how shared wallets work, consider this common use case: Jasmine wants to create a shared wallet at her company for payroll purposes. She wants 3 administrators and has access to the same wallet. This wallet sends salary payments to employees every month. She can create a new shared portfolio and assign the name of the salary portfolio. Then add her name and limit the total number of shareholders to 4 (herself and the three directors). Finally, I set the required number of signers to 3. This means that any of the 4 co-signers can submit a payment request, but the payment will not be completed until 3 of the 4 co-signers have given their authorization within the app.
Remember!
Multisig wallets are like regular wallets, without exception: each co-signer within a shared wallet has a unique private key that gives them (in part) access to the wallet. It is very important that all co-signers create a backup of their shared wallets (wallets)! Warning:
If you create a wallet that requires 3 out of 3 co-signers, if one of the cosigner's designers loses their device (and doesn't have the backup) or refuses to sign a transaction, then the money in that wallet will be You will lose and not everyone will be able to access the participants! For this reason,
Creating shared wallets that require the signatures of all participants is not recommended. To create your shared wallet, download the Bitcoin.com Wallet app today.
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