Why multisig is insanely secure and how to setup 2-of-3 Electrum Bitcoin wallet

[@J--Dubs]

Been super busy, but I can’t wait to binge this whole series.

[@programmingwithhussain]

Great video, Sun! Loved it as always.

[@sunknudsen]

I guess you are referring to the other version… this one was published 2 minutes ago haha.

[@stacylite]

@@sunknudsen Why was the first one deleted?

[@sunknudsen]

@Sheetal™ I wasn’t happy with the episode and noticed an outrageous typo when mentioning Shakepay that was just not acceptable. Not being able to earn a living from this project, I joined the security team of TrustToken (which has been a blast so far). That said, I have to admit being a little overwhelmed. I have to slow down a bit and make sure I invest enough time in episodes before publishing. The one I deleted wasn’t up to standard.

[@programmingwithhussain]

@@sunknudsen I was two minutes into the video and I really loved the way you explained this concept. This is why I commented on your video.

[@stacylite]

@@sunknudsen I have to personally admit though that episodes a bit rushed. Take your time, appreciate your content. Since there's a lot of value and information, your channel will definitely grow with time.

[@ninetiesentertainement]

Excellent Vidéo ! Thanks Sun !!

[@PaulettaVarela]

I'm happy to be part of the INFTY3 Token community. Let's ignite the revolution!

[@bschetanswaroopreddy7237]

Hi @Sun Knudsen , I have been lately watching your videos a lot lately. I am very honestly stating this.. Your channel is the best and most genuine privacy, and cyber security on youtube. These videos are very high quality. If i ever had to watch only one youtube channel, it would be yours. Informative, Genuine, and underrated. I genuinely love your videos, I cant even express that through this comment. I have not seen every episode, i would definetly watch em but the word used as a titale are really overwhelming and intimidating as i dont understand those sophisticated terms. Such as Multisig,Electrum, PGP signatures and stuff like that. The titles are really intimidating, which makes me not watch those videos. If you make the title and the content in your video suitable through layman language, I have no complaints. Your videos are so exciting but if you solve this one thing i would definitely recommend this channel to anyone. I love your content and hope you're doing great. Looking forward to your reply:)

[@raptorgreen2380]

Sun this is great ... but I've noticed every multisig (MS) video on YT shows an example of a wallet being setup in ONE location.. it would be great to see an example of the wallet creation process spread out over 3 locations, so 3 different creation styles of wallets and MPKs, in 3 locations, then how they would share the keys with each other to create the actual MS wallet.. nobody I've seen had shown this or even talked about how it may be done securely.. Eg. what if you have 2 organizations working with each other and don't want to rely on trust, but they have to create a MS wallet together, how would backups be generated and stored in this regard, as opposed to 1 person or organization using MS... do they need to share the wallet file and open it in electrum to be able to do this remotely? So at 13:41 when you complete with 1 cosigner and move the next, you are simply clicking next since you're on the same computer.. but how would this play out if the next cosigner is in another location? How do they communicate? Do they simply just have to have the wallet file open at the same time? Are there any alerts, pushed or not, to indicate cosigner 1 is requesting for cosigner 2 to sign?.. maybe there's a way to show this with two computer screens or 2 instances on the same screen

[@FaramelClark]

bro ive been looking for this a long time but theres no video containing thee infos have you found the right method yet?

[@mrbmro3991]

is it possible to use a 2 of 3 multisig setup but where all 3 devices are a mix of trezor and ledger? The point im getting at is I do not want to use Electrum as one of the 2 of 3 wallets

[@FergusDavignon]

Thank you so much for this amazing video! I have a quick question: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?

[@martinlutherkingjr.5582]

Which software is best for multisig overall? Electrum? Specter? Sparrow? Caravan? Something elses?

[@kerv1325]

Thank you for the video

[@brands2131]

16:10 blue means proxy or tor. But that fork icon you saw is actually the "chain split warning/detection" it say in that network window that there's a 14 block high split. It goes away after.

[@james-br2gm]

So you setup electrum as a cosigner. Do you have to do that? Is it possible to have a multisig setup with say ledger, trezor & jade? Considering the recent drama with ledger mutlisig seems like a good way to mitigate any potentially dodgy firmware.

[@wonggentle]

Nice! Thanks a lot.

[@Lituus58]

Does it work also with Ledger?

[@basganreiz]

First of all, I would like to thank you about your well explained videos. May I ask you several newbie question? I would like to make 2/4 multisig electrum wallet. May I combine 2 ledger, 1 softwarewallet, 1 paper wallet (I mean a physical backup) ?

[@sunknudsen]

Pleasure! You would need to use Electrum + two Ledgers + a third temporary hardware wallet used during multi-sig wallet creation. Once created, you would only keep paper backup of third hw and factory reset device. Btw, it’s hard to keep track of comments here… please consider starting discussion on github.com/sunknudsen/privacy-guides/discussions.

[@basganreiz]

@@sunknudsen you are so f.king great person. O really appreciate your fast answer. Thank you thank you thank you.

[@basganreiz]

​@@sunknudsen Hello. It is me again. I still didn't setup the multi-sig wallet as I'm still in the learning phase. I do have an idea to keep everything secure and cheap for beginner users like me. I would like to ask your opinion As you know, typing your primary pin to Ledger allows you to access your funds on your primary wallet (24 seed without passphrase). A secondary pin (for passphrase) can also be attached to ledger to access your funds on secondary wallet (same 24 seed with passphrase). So actually these 2 PINS represent 2 different wallets. They can be attached seperated co-signers for multi-sig accounts. So you can easily setup 2/2, 2/3 or 3/6 multisig wallets. I am not sure if this adds extra security but i think it is still an alternative way (2/2 multi-sig could offer extrasecurity) By the way, you dont have to attach a secondary pin for ledger, you can just type your passphrase to your ledger device. So you can generate infinite numbers of wallets like this 1)seed+ pass11111 2)seed+ pass22222 3)seed+ pass33333 ---->All you need to do is connect and disconnect your ledger several times while setup or sending btc :). I think it's a good alternative, although it's a bit time consuming. I would like to thank you again for your contents. Even though I'm not a computer person, they help a lot.

[@raptorgreen2380]

@@basganreiz 2 of 2 is dangerous bc if you lose one you're fucked.. never do 2 of 2, 3 of 3 etc

[@WMcLovin]

very useful

[@Youtuber-hm6ir]

Please do a review of Brave and btw Love from India ❤️

[@goldfishy]

Second this. Brave vs Firefox vs Safari. Security of browser engines. Trade offs between them. Tor browser. Etc

[@trendingvideos6325]

Is this the setting that makes token transfer out immediately after receiving? PLS I NEED ANSWER URGENTLY

[@Ongaloid]

👋 I currently have a multisig but trying to figure out how I can wallet connect to an external app like uniswap and swap eth in our vault got some other coin; Currently I can wallet connect with my multisig; and when I press swap or whatever to initiate the tx; my connected wallet is checked to see if it’s an owner and then I can sign the tx; however my tx pool keeps printing and error saying “cannot find function sig hash” If you’re familiar with encoding decoding data for the purpose of calling a contract with another contract it would be an awesome way to continue the multisig education

[@iguy7034]

Thank you for this. I have added Trezorctl 3.9 to my Mac. I am trying to migrate a Ledger seed to a Trezor T but the derivation path of HD Legacy (MEW/MyCrypto) is not standard on Trezor. I am hoping to add this path using command line. Do you know how I might do this?

[@davidijames_]

Nice Tutorial. What happens when you have to remove a signer (hardware wallet) and or wish to add another signer ? Would you have to create a new Wallet less the device you wish to remove plus the new device(s) you wish to add, following by moving all funds to the new multi-sig address ?

[@nanojoel]

What do you think of Sparrow wallet? Is it a good alternative for electrum (i heard it can run on an electrum server and it has mixing capabilities) would love your opinion

[@waynekatrubik]

Hey Sun, thanks for the video.... 1 question, let's say that you want to restore a multisig wallet. I have been reading about this a lot and 1 thing is a little confusing. It says that it is not enough to have the 3 original wallets/seeds... you also need extended public keys for each wallet in order to restore.... could you please explain that a little? Do I have to save each xpub key on a file somwhere or what?

[@123Noscope]

If you have all 3 private keys you can derive your 3 public keys from them, so you would be good to go if you needed to rebuild your wallet. However, in the case that you lost 1 of your private keys in a 2 of 3 multisig setup you would need all 3 public keys to rebuild your wallet. Make sure you back up all 3 public keys using the Output descriptor. The good thing tho is you can back up your public keys digitally and physically.

[@dominicburrows7317]

Great Video!! Are multisig providers capable of stealing funds? Additionally, what would happen if they cease operations or go out of business? Would we lose all our assets in such scenarios?

[@ebukaajagu7417]

I think 15 is the limit ?

[@rydmerlin]

What happens when you want add a new signer or remove an old one?

[@kunwoododd2154]

Make a new multisig wallet and transfer everything to the new wallet.

[@MyDogSteppedOnaBeee]

Hey, great videos thanks for uploading. Can you do a review and your thoughts on Brave browser with settings?

[@abd9584]

Hello i need help sir

[@kayax01]

Can't you do that without a HW device and with a separate (not online) linux machine instead (besides a windows internet machine)? Everyone shows how to build wallets with hw devices. But very seldom how to build a 2of3 multisig on one PC, used later with 2 PCs, one of them offline. 2of2 is also useless but they are being shown for simplicity reasons. People who want to use that don't care about simplicity even if it is more difficult. Thanks

[@zwakelenxumalo9670]

Please assist withdraw my funds from Electrum Wallet?

[@billyjean9484]

Air tight: Multi sig 2 of 3 using three different hw wallet manufacturers.

[@Maxi_Shubert]

Please stop talking, just go straight to the point

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[@OSVALDORojo-b2w]

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