How do I set up the multi-signature feature in Bitpie Wallet?

May 16, 2025

In the world of cryptocurrency, security has always been a topic of great concern. As a well-known multi-chain digital currency wallet, Bitpie Wallet provides users with a more secure way of asset management through its multi-signature functionality. Multi-signature, which requires multiple signatures to complete a transaction, effectively prevents risks such as wallet theft and accidental operations. This article will detail how to set up multi-signature in the Bitpie Wallet, as well as some practical tips to enhance security and usability.

Select multi-signature feature

The multi-signature function mainly enhances the security of the wallet by requiring multiple private keys to authorize a transaction. Its advantages include:

Enhance securityEven if a private key is stolen, thieves cannot transfer the assets.

Decentralization of controlDifferent signers can be configured, such as business partners, multiple managers from a company, and so on.

Prevent accidental operationMultiple authorizations are required to send transactions, effectively preventing asset loss due to accidental operations.

How do I set up the multi-signature feature in Bitpie Wallet?

Steps to set up multi-signature

Step 1: Preparation

Before proceeding with the setup, make sure you have correctly installed the Bitpie wallet and have created a basic wallet. Additionally, you will need to have the public keys of other users participating in the multi-signature setup ready, and ensure communication with them to collaborate during the setup process.

Step 2: Open the Bitpie wallet

Launch the Bitpie Wallet application.

Enter your master password to access the main interface.

Step Three: Create a multi-signature wallet

On the main interface, find the "Wallet Management" option and click to enter.

Select "Add Wallet" and then click on "Multisig Wallet".

Set the number of signers you need in the pop-up window (e.g. 2/3 indicates that two signatures are required to execute the transaction).

Step Four: Add Signatories

Enter the public key information of the participants in the multi-signature setup.

Make sure that all participants verify their public keys to avoid errors.

After entering the public key, click "Confirm".

Step Five: Generate Multi-Signature Address

After confirming the accuracy of all signers' information, click the "Generate Wallet" button, and the system will create a multi-signature wallet address for you. Please make sure to save this address and all related public key information for future use.

Step Six: Test the transaction

Try to send a small transaction to ensure that all signers receive the signature request.

Once each signer has successfully signed, the transaction will be executed.

Tips to improve the efficiency of multi-signature settings

Tip 1: Share public keys using a secure channel

When sharing public keys, be sure to choose a secure communication method. For example, use encrypted email or input directly in a face-to-face situation to prevent the public key from being maliciously tampered with.

Tip 3: Regularly update your private key

Regularly update the private keys of relevant personnel, even if no security vulnerabilities have occurred. This can prevent potential risks and maintain the security of the wallet.

Tip 3: Use a signature hardware device

For users who frequently conduct large transactions, using a hardware signing device can further enhance security. Even with multi-signature transactions, hardware can provide an additional layer of security.

Tip 4: Establish an emergency contact mechanism

In a multi-signature setup, if a signer is unable to participate in a transaction, an emergency mechanism should be established to ensure the smooth progress of the transaction. This can be done through pre-agreed alternative signers.

Tip 5: Monitor Transaction Records

Keep records and monitor all transactions, regularly review these records to identify potential irregularities or security risks, ensuring transparency and compliance.

Frequently Asked Questions

Q1: What are the limitations of multi-signature settings?

Multi-signature wallets generally limit the number and proportion of signers, and you need to specify the participants and the required number of signatures in advance. In addition, some wallets may also have restrictions on the maximum number of signers and the amount.

Q2: How to recover a lost signer's private key?

If you lose the private key of a signer who is a necessary signer for the wallet, you will be unable to execute transactions. Recovery can be done through a pre-agreed alternative mechanism, or by creating a new multi-signature wallet.

A3: How does a multi-signature wallet solve the risk of theft?

Multi-signature wallets reduce the risk of single point failure by requiring validation from multiple independent private keys. For example, in a company's multi-signature wallet with 3 signers, even if one private key is stolen, transactions cannot be carried out.

Is setting up multi-signature complicated?

Setting up multi-signature for the first time may seem complex, but once familiar with the process, subsequent management and usage will be very efficient. It is recommended that users practice multiple times with simple transactions to improve proficiency.

Q5: Is multi-signature suitable for ordinary users?

While multi-signature functionality is more suitable for groups or companies that need to jointly manage assets, ordinary users can also utilize this feature to prevent asset loss due to the loss of a single private key.

A6: Can I use multi-signature across different wallets?

Multi-signature functionality is typically set up within each individual wallet and cannot be used across wallets. However, you can create similar multi-signature setups with similar users in different wallets.

By following the above steps and techniques, you can effectively set up and manage the multi-signature feature of the Bitpie wallet, enhancing the security and management efficiency of your assets. Multi-signature, as an important tool for modern digital asset management, can provide users with higher security protection and is worth investing in and learning about.