- 02.03.2020

Setting your bitcoin address

setting your bitcoin addressinform-cryptocurrency-re.site › get-started › how-to-create-a-shared-bitcoin-wallet. Get help finding a bitcoin wallet. Answer a few basic questions to create a list of wallets that might match your needs.

One of the most useful features of the app is that it supports something known as a 'shared wallet'.

Setting your bitcoin address

Create a shared Bitcoin wallet by following these 5 steps: Download the Bitcoin. From the "Add Wallet" menu, select "Create shared wallet" Set the 'wallet name', 'your name', setting your bitcoin address number of copayers' and the 'required number of signatures' needed to send BCH from the shared wallet.

Note: 'Total france ledger address of copayers' is the number of people or devices that will have access to this wallet.

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Setting your bitcoin address

Create the wallet and then share the invite code with the other people who you want to join the wallet. This way, even if your setting your bitcoin address is stolen, the thief would setting your bitcoin address unable to spend from the shared wallet without authorization setting your bitcoin address the additional cosigners i.

Setting your bitcoin address

To understand how shared wallets can work, consider this common use-case: Jasmine wants to setup a shared wallet at her company for payroll purposes. She wants 3 managers setting your bitcoin address herself to have access to setting your bitcoin address same wallet.

This wallet sends salary payments to employees each month. She creates a new shared wallet, sets the name as "Payroll Wallet".

Setting your bitcoin address

She then adds her name and sets the total number of copayers to 4 herself and the 3 managers. Lastly, she sets setting your bitcoin address required number of signers to 3. This means any of the 4 cosigners can submit a payment request but the payment will not be completed until 3 of the 4 cosigners give their authorization within the app.

Setting your bitcoin address

Multisig wallets are just like normal wallets—no exception: each cosigner within a shared wallet has a unique private key which grants them partial access to the wallet. Warning: If you create a wallet where 3-of-3 cosigners are required, setting your bitcoin address if one cosigner loses his or her device continue reading doesn't have the backupor refuses to setting your bitcoin address a https://inform-cryptocurrency-re.site/address/jeff-berwick-email-address.html, then the funds within that wallet will be inaccessible to all participants!

Setting your bitcoin address

For this reason, it setting your bitcoin address not recommended to create shared setting your bitcoin address that require the article source of all participants.

As you setting your bitcoin address see, multi-signature wallets are useful for a number of reasons.

Setting your bitcoin address

To create your own shared wallet download the Bitcoin. Was this helpful?

Setting your bitcoin address

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