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Security Implications

The main purpose of Multisig is to provide better security for the assests that you have stored in the wallet.This enables you to securely transfer and control the different coins in your accounr.

This approach of using multiple keys is known as “multisignature security.” The “signature” part of “multisignature” comes from the process of using a private key to access bitcoins, which is referred to as “signing a transaction.” Multisignature security is analogous to a bank requiring signatures from multiple people (for example, any 2 of a company’s 3 designated officers) to access funds in an account.