A multisig wallet in Bitcoin mitigates risks of loss, theft, or unauthorized access by ensuring that no single point of failure can compromise a user's funds. Theya makes multi-signature technology accessible to non-technical users through its easy-to-use mobile app.
Theya’s 2-of-3 multisig vault can be configured in a variety of ways, but ultimately the user(s) holds two keys (via hardware wallets or mobile wallet), while Theya retains one key as a backup for recovery purposes.
Users maintain direct control over their bitcoin by possessing two of the three necessary keys for making a transaction.
The platform supports multi-user management, allowing shared custody arrangements for families and businesses with multiple stakeholders, passing on key control, and collaborative efforts with financial advisors.
Theya does not directly facilitate shared custody arrangements itself. Instead, it is a modular tool for users to set up bitcoin vaults in a manner that suits their needs.
2-of-3 Multisig Variations
Multisig Vault Type | Key 1 | Key 2 | Key 3 |
Individual | HWW | HWW | Theya Recovery |
Individual | Mobile Key | HWW | Theya Recovery |
Shared | HWW | Cosigner (HWW) | Theya Recovery |
Shared | HWW | Cosigner (Mobile Key) | Theya Recovery |
Shared | Mobile Key | Cosigner (HWW) | Theya Recovery |
Shared | Mobile Key | Cosigner (Mobile Key) | Theya Recovery |
*Hardware wallets (HWWs) keep your keys offline for greater security.
Singlesig Vaults
With Theya, every modular key option for multisig can be used to create a singlesig vault, requiring only one signature to move funds. These singlesig vaults are ideal for consolidating bitcoin prior to multisig storage (for improved UTXO management) and simplified on-chain transactions.
HWWs paired for multisig can simultaneously be used as a singlesig vault.
Note: With all singlesig or multisig wallet setups, it's at the user(s) discretion how to secure and store their physical hardware devices and recovery seed phrases.
Multisig Tutorial Videos
Watch @JoeConsorti quickly set up 2-of-3 multisig vaults using a variety of devices.
Mobile Key & Ledger Nano X
Coldcard MK4 & Trezor Safe 3
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