🔗 Guided 2-of-3 MultiSig Wallet Setup

🔒 Setting up a secure Bitcoin Safe wallet is the best way to protect your funds from exchange failures, hacks, and theft. In this tutorial will guide you through setting up a secure multi-signature (multi-sig) Bitcoin wallet using Bitcoin-Safe and three hardware signers. The process will be the same with any of the fully supported hardware signers listed here. This method significantly enhances your security and provides a level of anonymity suitable for sovereign individuals and private organizations.

• 🔐 Connect a Coldcard Q, a Bitbox02, and a Keystone
• 📥 Receive test
• 📤 Send test
• ✅ Done

🔗 Level Up Your Bitcoin Security: A Step-by-Step Guide to Setting Up a Multi-Sig Wallet

Want to take your Bitcoin security to the next level? A multi-signature (multi-sig) wallet is a powerful tool that requires multiple private keys to authorize a transaction, significantly reducing the risk of theft or loss. In this guide, we’ll walk you through the process of setting up a multi-sig wallet using Bitcoin Safe and three hardware signers. Let’s get started!

🔗 What is a Multi-Sig Wallet and Why Do You Need One?

A multi-sig wallet requires multiple private keys (held on separate devices) to authorize a transaction. This means that even if one device is compromised, your funds remain secure. This setup also provides a layer of anonymity, as no single point of failure exists that can be easily targeted.

• Enhanced Security: Unlike a single-signature wallet, a multi-sig wallet requires multiple approvals (signatures) to move funds. This means that even if one of your private keys is compromised, your funds remain safe.
• Shared Control: Multi-sig wallets are ideal for teams, businesses, or families who want to share control over their Bitcoin holdings.
• Reduced Single Point of Failure: Eliminates the risk of losing access to your funds due to a single lost or compromised key.

🔗 Anonymously Secure Your Bitcoin: A Beginner’s Guide to Multi-Sig Wallets

This tutorial will guide you through setting up a multi-signature (multi-sig) Bitcoin wallet using Bitcoin Safe and three hardware signers. This method significantly enhances your security and provides a level of anonymity suitable for sovereign individuals and private organizations.

What is a Multi-Sig Wallet?

A multi-sig wallet requires multiple private keys (held on separate devices) to authorize a transaction. This means that even if one device is compromised, your funds remain secure. This setup also provides a layer of anonymity, as no single point of failure exists that can be easily targeted.

Tools You’ll Need:

• Bitcoin Safe Software: This is your hub for managing your Bitcoin securely.
• Three Hardware Signers: These devices hold your private keys offline. Popular options include Coldcard, BitBox, and Keystone.
• Stickers: To label your hardware signers (e.g., “Multisig 1,” “Multisig 2,” “Multisig 3”).
• PDF Recovery Sheet: For securely storing your wallet descriptor and recovery seeds.

Important Security Considerations:

• Never take photos of your seed phrases.
• Never save your seed phrases on your phone or computer.
• Distribute your hardware signers and seed phrases across multiple, secure locations.

Step-by-Step Guide:

1. Initial Setup (Bitcoin Safe): {{timestamp:00:09}}

• Open Bitcoin Safe.
• Click “Choose Multi-Signature.”
• Name your wallet (e.g., “Multisig”).
• If you don’t have hardware signers, click “See Full List” for purchasing options.
• If you already have three hardware signers, click “Next Step.”

2. Labeling Your Devices: {{timestamp:00:41}}

• Label each hardware signer with a sticker (e.g., “Multisig 1,” “Multisig 2,” “Multisig 3”).
• Click “Next Step.”

3. Device Selection: {{timestamp:00:55}}

• Select each matching device from the list.

4. Seed Generation: {{timestamp:00:59}}

• Generate a new seed phrase on each of your devices.
• If you need help, click the “Match Device” tab for guides.
• Click “Next Step.”

5. Importing Signer Data (Coldcard Example): {{timestamp:01:15}}

• Select your first signer (e.g., Coldcard).
• If unsure, click “Help” for a guide.
• On your Coldcard, find the option to “Scan Any QR Code.”
• In Bitcoin Safe, click the QR code button.
• Hold your Coldcard close to the screen so it can scan the QR code.
• Carefully review all the details on your Coldcard.
• Press Enter to confirm.
• Click “Next Signer.”

Troubleshooting QR Code Scanning:

• If the camera doesn’t detect the code, click “Enhance Picture.”
• If the progress bars don’t update, adjust the brightness in settings (“Show Camera Controls”).

6. Importing Signer Data (BitBox Example): {{timestamp:01:50}}

• Select your second signer (e.g., BitBox).
• If unsure, click “Help” for a guide.
• Connect your BitBox via USB.
• Unlock your BitBox.
• Use the top or bottom of the device to navigate and confirm.
• Click the BitBox popup window.
• Click “Next Signer.”
• Double check that the Signer 2 Xpub matches what you see on your Bitbox.
• Continue scrolling to check that the receive address is correct as well.

7. Importing Signer Data (Keystone Example): {{timestamp:02:27}}

• Select your third signer (e.g., Keystone).
• If unsure, click “Help” for a guide.
• Unlock your Keystone and navigate to display the QR code.
• Scan the Keystone QR code with the camera.
• Hold your Keystone close to the camera, ensuring the QR code is fully in frame.
• Click “Next Step.”

8. Saving Your Wallet: {{timestamp:03:00}}

• Name your wallet file (e.g., “multisig.wallet”).
• Set a strong password.
• Click “Submit.”

9. Backing Up Your Wallet: {{timestamp:03:21}}

• Critically Important: Attach or copy your 12 or 24-word seed phrases from each hardware signer to the PDF recovery sheet. {{timestamp:03:16}}
• This PDF contains your wallet descriptor, which is essential for recovery.

10. Registering the Multi-Sig on Each Signer: {{timestamp:03:35}}

• Signer 1 (Coldcard):

  • Click the “Help” button and choose Coldcard.
  • Follow the instructions on your Coldcard device.
  • Find the option to scan any QR code.
  • In Bitcoin Safe, click the QR code button.
  • Hold your Coldcard steady and make sure its camera can clearly scan the QR code on the screen.
  • Take your time to scroll through all the details shown on your Coldcard device.
  • Review everything carefully all the way to the bottom.
  • Once you’ve checked it all, press enter to confirm.

• Signer 2 (BitBox):

  • Click “Help” if needed.
  • Select USB to connect your device.
  • A pop-up window now shows the Xpub information for all three signers.
  • Unlock your BitBox device.
  • Please double check that the Siner 2X pub matches what you see on your Bitbox device.
  • Use the top or bottom of the Bitbox to scroll through and confirm the details.
  • Continue scrolling to check that the receive address is correct as well.

• Signer 3 (Keystone):

  • Click “Help” if you need instructions.
  • Follow the instructions to prepare your device to scan the QR code.
  • Then hold your keystone close to the screen and scan the QR code.
  • You’ll see the wallet information.
  • Review it carefully and confirm.
  • Follow the prompts to enter your password and click done.

11. Testing Your Setup: {{timestamp:06:23}}

• Click “I registered the multi-sig on three hardware signers.”
• Receive Test:
  • You’ll see two different QR codes: one for KYC coins and the other for private coins.
  • Start with a small test transaction.
  • Do not send a large amount until you’ve successfully completed the full send test.
  • Click the button. A popup window will confirm that the test amount has been received successfully.
• Send Test 1 (Signers 1 & 2):
  • Prepare your Signer 1 and Signer 2 devices.
  • Adjust the transaction fee.
  • Click “Create Transaction.”
  • Follow the prompts to sign the transaction with Signer 1 (Coldcard) and Signer 2 (BitBox), using the QR code and USB methods described earlier.
  • Click the send button. A pop-up window will confirm that the test transaction with SER one and SER 2 was successfully completed.
• Send Test 2 (Signers 2 & 3):
  • Click okay to proceed. this time using SER 2 and SER 3.
  • Choose your transaction fee.
  • Click “Create Transaction.”
  • Follow the prompts to sign the transaction with Signer 2 (BitBox) and Signer 3 (Keystone), using the USB and QR code methods described earlier.
  • Complete the transaction using SER 2 and SER 3 by clicking the send button.
  • A pop-up window will appear confirming that all send tests were done successfully.

12. Securing Your Setup: {{timestamp:10:06}}

• Distribute your hardware signers and seed phrases across multiple, physically secure locations (vaults).
• Only you should have access to each location.
• You’ll need to travel to two of these locations anytime you want to sign a transaction.

13. Backing Up Labels and Coin Categories (Optional): {{timestamp:10:35}}

• Bitcoin Safe allows you to back up your labels and coin categories encrypted in the cloud.
• To restore them, all you need is this NSC key, so be sure to copy and save it securely.
• If you use Bitcoin safe on multiple computers, it will automatically synchronize your labels and coin categories across all devices.

🔗 Conclusions

Congratulations! You’ve successfully set up, tested, and secured your multi-sig wallet. Remember to review your backups, double-check your storage, and ensure everything is safely in place. With this setup, you’re in full control, secure, resilient, and ready for the future.

Ready to take control of your Bitcoin security? Download Bitcoin Safe and start-setting up your multi-sig wallet today!