Multi-Signature Wallet; Secure Your Seed-Phrase from Scammers
In the world of Cryptocurrency, the safety of your funds is determined by the security of your secret key storage. People are always searching for trustworthy wallet solutions and thinking of how to store their private keys.
A multi-signature wallet ("multisig" for short) is a cryptocurrency wallet that requires two or more private keys to sign and send a transaction. This type of digital signature makes it possible for two or more users to sign documents as a group.
Lately, there have been reports of lost funds by Crypto Investors on micro blogging site Twitter and other social media platforms due to Wallet Swap Scam, Portfolio hijacking, some might be due to negligence on the part of investors who had exposed his/her 12 or 24 digits phrase to a third party, and those purposely done to rug investors while other cases might be due to unforeseen security bridges on the protocols, which ever the scenario.
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I, recommend every Investors to activate Multiple signing mechanism on their Wallets, Binance Exchange has four Multisig functions on its marketplace thereby making it so difficulty for scammers to scale through.
Stellar Network — multisignature. If you heard about it, you know that enabling multisig significantly increases the security of your account and protects your wallet from in-person attacks as long as all secret keys are stored separately.
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