10x Security Bitcoin Guide

How to store bitcoin without any single point of failure.

Purpose

Multisig security is a difference in kind and not in degree. It affords you the ability to avoid loss while making 1 (or more) catastrophic failures in securing your bitcoin. By using a security system that is fault-tolerant, you can move much faster (with less caution) through each step and still attain far higher levels of security vs any single-key system. This guide will show you how.

The purpose of this guide is to make multisig accessible to a tech-savvy audience who does not write code. While it may be helpful if you are comfortable using the command line (especially for some of the optional advanced steps), it is not required.

Project Status

This guide is currently a work in progress. While the ultimate goal is for the process to be easy enough for non-technical users, there may be kinks to work out. Pull requests are welcome.


Table of Contents

Guide

  1. Introduction: Why Multisig?
  2. Pick Your Quorum (e.g. 2-of-3)
  3. Equipment List
  4. Setup Computer (Watch-Only)
    1. Computer
    2. Bitcoin Node
    3. Specter-Desktop
  5. Setup Hardware Wallets
    1. Paper Wallet
    2. Cobo Vault
    3. Coldcard
    4. Coordinate Multisig (Specter-Desktop)
  6. Verify Receive Addresses
    1. Specter
    2. Cobo Vault
    3. Coldcard
  7. Backup Wallet
    1. Backup Seeds
    2. Backup Public Keys
  8. Send Bitcoin
  9. Emergency Recovery (3rd Key)


Known Issues & Benefits

  1. 10x Security Guide
    1. Specter-Desktop
    2. Coldcard
    3. Cobo Vault
    4. SeedPicker
  2. All Multisig Setups
    1. Added Complexity
    2. Limited Hardware Wallet Support
    3. Verifying Receive Addresses
    4. Extra Cost
    5. Seeds and Privacy Leaks
  3. Other Setups
    1. Hosted Services
      1. Casa
      2. Unchained Capital
    2. Other Coordination Software
      1. Electrum
      2. Caravan
      3. Sparrow
    3. Hardware Wallets
      1. Specter DIY
      2. Trezor
      3. Ledger
      4. KeepKey
      5. BitBox
    4. Other Protocols
      1. Glacier Protocol
      2. Yeti Cold