Hippo Wallet - Multisig

Getting Started with Hippo Multisig Wallet

Ready to get started with multi-signature wallet security? The following video shows how to create a multi-signature wallet and send a multi-signature payment in the Hippo Wallet.

About Multisig

Hippo Wallet is already among the most secure true wallets available today. Users can secure their funds in the app with the underlying architecture. Besides, Hippo Multisig Wallet lets user takes security even further with a very simple user interface.

A Hippo multi-signature wallets are cryptocurrency wallets that require two or more private keys to sign and send a transaction.

The multi-signature addresses are one of the most interesting features that it has Bitcoin and other cryptocurrencies. These types of cryptocurrency addresses can be managed by many people at the same time. This is because multi-signature addresses base their operation on multiple cryptographic signings.

When a user makes a transaction, the address it uses generates that transaction and it needs to sign it cryptographically. Without this, said transaction can never be processed by the network and included in the blockchain. This mechanism can be improved in terms of security to the point of creating an address that needs several cryptographic signatures to be valid for the network. This is because the control of said direction it is collective.

Benefits of Multisig

Funds Accessing Control

Users can distribute the decision-making process more by choosing the types of multi-signatures that needed more signs.

More Security

Can help in reducing the security concerns that are generally evident in the case of single private key wallets.

Being a joint account

Has the ability to manage a cryptocurrency fund among multiple people.

FAQ

Users can generate unlimited Multisig wallets in Hippo.

The maximum number of co-payers in the Hippo multisig wallet is 6. So the maximum type in Hippo multisig is [6-of-6] and the minimum type is [2-of -2] and the user can choose any type between 2 to 6. (For example [2-of-3], [3-of-3], [4-of-6] and etc)

If the user loses their Multisig wallet, it can be restored using its mnemonic and Multisig wallet ID or its mnemonic and all co-payers' extended public keys.

As a Hippo Multisig Wallet requires more signatures to sign a transaction, it adds more security to the user’s wallet. If attackers obtain one co-payer's device, they would not be able to spend that wallet’s funds without another co-payer’s sign.

Download & Enjoy!