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WHAT IS A MULTISIG WALLET

A multisig or multisignaturewallet translates to multi-signaturewallet. As its name suggests, it is a wallet cryptocurrency wallet that needs multiple signatures to perform a transaction.

That is to say, these wallets only carry out a transaction, whatever type it is, when more than one key (person) confirms the transaction. The number of people who must sign this transaction in order for it to be carried out will depend on the type of multisig wallet we are using.

This type of wallets are used to share a wallet among several people and for security reasons, reasons are obvious, to avoid scams.