multisignature wallets

Digital asset trust and security company BitGo has announced to offer custodial services to India’s leading crypto exchange CoinDCX, through a recent partnership. According to the recent announcement, BitGo has started storing digital assets held by CoinDCX crypto exchange. With BitGo’s protection, CoinDCX believes that the users’ funds with them are completely safe and makes the exchange one of the safest crypto trading platforms in the world. CoinDCX claims that their utmost priority is to ensure that all the security…

A Multisignature wallet (or Multisig wallet) is one where you need control over multiple private keys to spend from that wallet. That is, each address in the wallet has numerous private keys behind it. The idea with multi-sig wallets is that multiple people can cooperatively control the funds in the wallet. Alternatively, the wallet can require approval from various devices owned by the same person, i.e., a form of second-factor authentication. According to bitcoin.com, “Multi-signatures can also be used for redundancy to…