{"id":76576,"date":"2026-11-01T20:09:53","date_gmt":"2026-11-01T18:09:53","guid":{"rendered":"https:\/\/lwallet.com.ua\/?p=76576"},"modified":"2026-11-01T20:09:53","modified_gmt":"2026-11-01T18:09:53","slug":"what-is-multisig","status":"publish","type":"post","link":"https:\/\/lwallet.com.ua\/en\/what-is-multisig\/","title":{"rendered":"What is multisig? How to set it up with hardware wallets"},"content":{"rendered":"\r\n\r\n\r\n

Multisig lets you distribute control over cryptocurrency across several independent keys. In a 2-of-3 setup, any two signatures are enough to send funds<\/strong>, so you can still use your funds if you lose access to one key. Anyone who obtains just that one key cannot move the funds alone.<\/p>\r\n\r\n\r\n\r\n

Below, we will set up a Bitcoin wallet in Electrum<\/strong>, back up its configuration and test signing. For Ethereum, we will use Safe{Wallet}<\/strong>. Both examples keep private keys on a Ledger Nano X, Ledger Flex and Trezor Safe 7, but wallet creation, transaction verification and recovery work differently.<\/p>\r\n\r\n\r\n\r\n

The desktop instructions use Electrum 4.8.2. Trezor Safe 7 support was added in version 4.8.0, so earlier versions are unsuitable for this combination of devices. Menu items and buttons refer to the English interfaces of Electrum and Safe{Wallet}.<\/p>\r\n\r\n\r\n\r\n

What is multisig, and what does it protect against?<\/h2>\r\n\r\n\r\n
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\"2-of-3<\/figure>\r\n<\/div>\r\n\r\n\r\n

With a conventional single-signer hardware wallet, you can restore access to your funds using the seed phrase, also called a recovery phrase. The device stores private keys and signs transactions without passing those keys to the software on your computer. Anyone who obtains the recovery phrase can recreate the keys on a compatible device; if the wallet uses a passphrase, they will also need that additional password.<\/p>\r\n\r\n\r\n\r\n

Multisig, short for multi-signature, requires several signatures to authorize a transaction.<\/strong> A setup is described as \u201cm of n,\u201d where n is the total number of keys and m is the number of signatures needed to spend funds. Our example uses three independently generated keys. Transfers can be signed by the Nano X and Safe 7, the Flex and Safe 7, or both Ledger devices.<\/p>\r\n\r\n\r\n\r\n

A 2-of-3 setup lets you access your funds if one device breaks or one recovery phrase is lost. If a key is stolen, the attacker still needs another key to move the funds. Protection against a vulnerability shared by several devices depends on how you distribute keys across manufacturers, while protection against fire or theft at a single location depends on where you store them.<\/p>\r\n\r\n\r\n\r\n

If two signers approve the same substituted address or malicious contract call, the transaction will go through. Each signer must therefore verify the transaction independently<\/strong>, checking the address and parameters on the device and using independent sources of information.<\/p>\r\n\r\n\r\n\r\n

[vc_message color=”info” message_box_style=”classic” message_box_color=”alert-info” style=”rounded”]Multisig requires separate backups, a saved wallet configuration and recovery checks. If you can securely protect one recovery phrase and do not need to distribute control, a single hardware wallet is easier to maintain. Choose a multi-key setup when you are prepared to maintain it for as long as you hold the funds.[\/vc_message]<\/p>\r\n\r\n\r\n\r\n

Ledger Nano X, Ledger Flex and Trezor Safe 7 in a 2-of-3 setup<\/h2>\r\n\r\n\r\n
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This guide uses two Ledger devices and one Trezor. The Nano X has physical buttons and a compact display, while the touchscreens on the Flex and Safe 7 make long addresses and transaction details easier to review. Exactly what you can see depends on the firmware, app and connection method.<\/p>\r\n\r\n\r\n\r\n

Using devices from different manufacturers reduces your reliance on shared software and hardware. For routine signing in this example, you can use the Safe 7 and one Ledger, keeping the second Ledger at a separate location as a backup signer.<\/p>\r\n\r\n\r\n\r\n

[vc_message color=”info” message_box_style=”classic” message_box_color=”alert-info” style=”rounded”]The two Ledger devices can authorize a transfer together.<\/strong> This combination therefore retains the risk of a vulnerability affecting both Ledger keys at once. Even if you normally include the Trezor when signing, the two Ledger devices can still approve a transaction without it. For greater independence from any one manufacturer, consider three compatible devices from different companies.[\/vc_message]<\/p>\r\n\r\n\r\n\r\n

If you substitute a different model, check its compatibility with the software and network. A device suitable for Bitcoin multisig does not necessarily support signing in Safe for Ethereum, and the process for adding its key may differ.<\/p>\r\n\r\n\r\n\r\n