Multisig offers long-term storage of significant bitcoin holdings for users who want to:
Remove the single point of failure of a single-signature (singlesig) wallet.
Create a shared custody vault with a trusted individual, such as a family member or financial advisor.
Historically, multisig has been reserved for institutions and deemed too complicated for individuals. However, Theya's collaborative 2-of-3 multisig vault offers a non-technical solution accessible for all types of users.
Do You Need Multisig?
Bitcoin self-custody solutions vary based on the the amount of bitcoin being held, situational needs, and risk tolerance of individuals. A question you can ask yourself:
If you're holding bitcoin for 4-10+ years, are you satisfied with your current custody setup?
What To Consider
Holding bitcoin on an exchange introduces massive counterparty risk. A mobile 'hot wallet', being connected to the internet, increase the risk of having your private keys compromised. And singlesig 'cold storage' (one hardware device) creates a single point of failure, which may not be ideal for large Bitcoin holdings and family or business funds.
Generally speaking, the more significant your Bitcoin stack is to your long-term financial well-being, the greater level of security is desired. For many, it's common to start with singlesig cold storage to build a Bitcoin allocation and get familiar with self-custody, then move to multisig as a security upgrade.
Schedule a free consultation to discuss your specific needs!
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