Learn how to create and interact with Specter wallet multi signature setups.
Standard Bitcoin transactions “single-signature transactions,” require one signature — from the owner of the private key associated with the Bitcoin address.
With Bitcoin multi signature (multi-sig) transactions, there are up to 15 possible owners (signers) and between 1 to 15 of them are needed to approve any spending.
The Bitcoin network supports much more complicated transactions that require the signatures of multiple people before the funds can be transferred. These are often referred to as M-of-N transactions. These parties can be people, institutions or programmed scripts.
Specter wallet multi Signature interface makes creating and using a multi device multi-sig setup incredibly simple.
Through facilitating the interface between hardware wallets and bitcoin core, what was once highly technical is made accessible to a wide range of bitcoiners.
We create a demo 2 of 3 multi-sig setup with 2 Coldcards and a Bitcoin Core hot wallet. The coldcards are setup as airgapped and USB connected devices. You can create your own multi-sig implementation with any combination of supported hardware wallets.