So you transferred the BTC from coinbase to unchained, what if ALL my bitcoin is on one of my ledger devices? Would I have to send it from my ledger into unchained also?
2 questions : A)if someone finds the downloaded configuration file can they steal funds with that only? or do they also need access to at least one other key B) in inheritance scenario I assume the beneficiary needs at least one of the private keys and that configuration file ? and if thats true does that imply keeping the configuration file alongside one of the private keys
a) They can't they'll still need the private keys to transact, but they can potentially find out how much btc is in the wallet (privacy leak) b) Configuration file is needed only to reconstruct the the wallet outside of Unchained, i.e. if you want to use Caravan. If the inheritor has access to the unchained account they dont need the wallet configuration (however should always have it in case).
Question, when you make this vault do you have to have two brand new wallets, or can you use one that already has some bitcoin on it? I am just getting started with the multi-sig and was going to use unchained since its free with the vault option. I appreciate the content and info!
Thanks for the kind words! No, you don’t need 2 new wallets. You can use one (or both) can have bitcoin on them. When they’re used in a multisig setup, it’ll create a new wallet with different addresses.
I agree, great video! Very clear instructions. Just to Clarify, technically I could have 2 wallets both with BTC, and use those same 2 wallets to create a multisig wallet and then I could send BTC from either wallets to the multisig wallet and vice versa. Technically could have 3 wallets (1 multisig and 2 hardware) and all of them can have BTC?
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So simple. This is literally the best way to store your money if you have an IRA or Roth IRA.
I’m transferring my ira into unchained. This video was helpful for me to view and understand the platform before making my move. Thanks brother!
So you transferred the BTC from coinbase to unchained, what if ALL my bitcoin is on one of my ledger devices? Would I have to send it from my ledger into unchained also?
Nice one brother! Quick and simple.
Awesome tutorial! Thank you!
Great video and thanks for sharing! How are you liking it a year later?
2 questions : A)if someone finds the downloaded configuration file can they steal funds with that only? or do they also need access to at least one other key B) in inheritance scenario I assume the beneficiary needs at least one of the private keys and that configuration file ? and if thats true does that imply keeping the configuration file alongside one of the private keys
a) They can't they'll still need the private keys to transact, but they can potentially find out how much btc is in the wallet (privacy leak)
b) Configuration file is needed only to reconstruct the the wallet outside of Unchained, i.e. if you want to use Caravan. If the inheritor has access to the unchained account they dont need the wallet configuration (however should always have it in case).
What if Unchained capital shuts down? What would the implications be?
2/3 keys are sufficient to move the BTC.
Question, when you make this vault do you have to have two brand new wallets, or can you use one that already has some bitcoin on it? I am just getting started with the multi-sig and was going to use unchained since its free with the vault option. I appreciate the content and info!
Thanks for the kind words! No, you don’t need 2 new wallets. You can use one (or both) can have bitcoin on them. When they’re used in a multisig setup, it’ll create a new wallet with different addresses.
I agree, great video! Very clear instructions. Just to Clarify, technically I could have 2 wallets both with BTC, and use those same 2 wallets to create a multisig wallet and then I could send BTC from either wallets to the multisig wallet and vice versa. Technically could have 3 wallets (1 multisig and 2 hardware) and all of them can have BTC?
@@stevenfogle212 That's correct.
Collaborative custody is a nosey business.
Thats way too complicated
Start with simple setup firsg
KYC? Hard pass. 😂