Multi-signature wallets are a type of cryptocurrency wallet with additional security settings that is typically used to require two or more people to authorize an outgoing transaction. Sometimes called “multi-sig,” these wallets are most useful when cryptocurrency or other digital assets are owned by multiple individuals or are held in custody by a company.
These cryptocurrency wallets take more technical knowledge to set up and use than a traditional crypto wallet, which only requires one signature. However, the added security benefits make the additional technical requirements worthwhile for those with complex security needs.
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