In this article we'll cover how to set up and use a shared (multisig) Bitcoin Cash wallet in the Bitcoin.com Wallet app. If you don't know what a shared wallet is, you may want to start with this article. We've also compiled a list of shared wallet use cases.
Shared wallets can be created using many desktop and mobile wallet apps. Let’s take a look at how to do it in the Bitcoin.com Wallet, the fully non-custodial crypto wallet trusted by millions. We are going to set up a Bitcoin Cash (BCH) shared wallet:
On the next screen, you’ll set up your wallet.
After you’ve set up your shared wallet (see above), you’ll be prompted to invite participants. There are two ways to invite participants:
There are two ways to join a shared wallet:
You’ll be prompted to enter your name. This is the name that other wallet participants will see you as. Finally, tap JOIN to complete the process.
A shared wallet must have a minimum of 2 participants, with a maximum of 6. There is a minimum of 1 approval and a maximum of 6. So, a 1-of-2 all the way up to a 6-of-6 wallet is possible.
Bitcoin Cash (BCH) and Bitcoin (BTC).
Don’t worry, your remaining funds are still there. While a transaction request is waiting to be approved or declined, available funds are locked. When funds are locked, we show a 0 balance. When the transaction request is approved or declined, your funds will unlock and your balance will be shown again.
The creator of a transaction request can use the delete request action to cancel the transaction and unlock funds.
Before a transaction is broadcasted to the public network, it requires a certain number of approvals, based on the configuration of your shared wallet. For example, a 2-of-3 wallet requires 2 approvals before being broadcasted.
Yes, kind of. A transaction request represents the initiation of an on-chain transaction. Before the transaction is broadcast to the blockchain, it first must get enough approvals based on the configuration of the shared wallet. Once the proper number of approvals is reached, the transaction will be automatically broadcasted.
Yes, as long as you are the creator of the request and it is still in the pending state, you can delete a request. All funds locked will be freed and made available to your wallet.
In short, the public key, or the “address,” is same for all participants, but each participant gets their own unique “private key” (seed/recovery phase).
Technically, when a shared wallet is created, all participants are at first assigned their own unique public and private key pair. Once all participants have joined the wallet, a single common public key (aka “address”) is generated and displayed to all participants. This is the address that participants can provide when, for example, requesting a payment.
Unlike "standard" Bitcoin Cash wallets, shared wallets must be manually backed up. For most people, the best way to manually back up a wallet is to write down the wallet's recovery phrase (also known as a seed phrase) on a piece of paper and store that paper somewhere safe.
Here's how to find your shared wallet's recovery phrase in the Bitcoin.com Wallet:
Method 1:
Method 2:
Read more: Make sure your recovery phrase is safe with these password management tips.
¡Solo tienes que comprar 30 $ para comenzar!
Elija entre Bitcoin, Bitcoin Cash, Ethereum y más
Lee mas
What is a shared Bitcoin Cash wallet?
What are the use cases for shared wallets?
How to create a Bitcoin Cash wallet
How do I receive bitcoin cash?
How to choose the best Bitcoin wallet
¿Qué es un monedero de Bitcoin sin custodia?
Cómo funcionan las operaciones con bitcóin
Learn about shared (multisig) Bitcoin Cash wallets, their advantages and disadvantages, and how they work.
Find out the many ways shared wallets can be used in the real world.
How to create a Bitcoin Cash wallet and the pros & cons of each wallet type (software wallet, hardware wallet, web wallet, and paper wallet)
Bitcoin Cash is a decentralized peer-to-peer electronic cash system that does not rely on any central authority like a government or financial institution.
From payment methods to platform/venue used, where your bitcoin cash goes and more: This is your comprehensive guide to buying bitcoin cash.
From security to fee customization options, these are the key factors to consider when choosing a Bitcoin wallet.
¿Necesita una monedero con custodia o sin custodia? ¿Cómo puede proteger sus fondos?
Learn what a Bitcoin cold storage wallet is, why it's important, and how to use one.
Learn about this essential tool for sending, receiving, and storing your bitcoin; how it works, and how to use it safely.
Learn about shared (multisig) Bitcoin Cash wallets, their advantages and disadvantages, and how they work.
Find out the many ways shared wallets can be used in the real world.
How to create a Bitcoin Cash wallet and the pros & cons of each wallet type (software wallet, hardware wallet, web wallet, and paper wallet)
Bitcoin Cash is a decentralized peer-to-peer electronic cash system that does not rely on any central authority like a government or financial institution.
Learn how to securely send bitcoin cash.
Learn how to securely receive bitcoin cash.
From payment methods to platform/venue used, where your bitcoin cash goes and more: This is your comprehensive guide to buying bitcoin cash.
From security to fee customization options, these are the key factors to consider when choosing a Bitcoin wallet.
¿Necesita una monedero con custodia o sin custodia? ¿Cómo puede proteger sus fondos?
Learn what a Bitcoin cold storage wallet is, why it's important, and how to use one.
Learn about this essential tool for sending, receiving, and storing your bitcoin; how it works, and how to use it safely.
Todo lo que necesitas para comprar, vender, operar e invertir en bitcóin y otras criptomonedas de forma segura
Un resumen semanal de las noticias importantes, además de recursos educativos y actualizaciones de productos y servicios que promueven la libertad económica