Create your Bitcoin, Litecoin, and Bitcoin Cash Multisig Wallets

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In this section you’ll setup the Multisig Wallets for Bitcoin, Litecoin, and Bitcoin Cash. You will also verify your deposit addresses.

Your Bitcoin, Litecoin, and Bitcoin Cash wallets are derived from your chosen M-of-N policy and the Master Public Keys from the N signatories. The derivation is deterministic, so as long as you keep a copy of the N Signatory Information Packets and you know the chosen M-of-N policy that was chosen, you should be able to derive your wallets. In order to access your funds, you will need to know the M-of-N policy that was chosen, N Master Public Keys, and at least M signatories should have access to their BIP39 Mnemonic.

The following process can be done at an internet connected computer and should be verified across signatories.

  1. Derive Wallet Address Using Electrum
  2. Open Electrum 
      $ ~/apps/electrum-3.3.6-x86_64.AppImage
  3. Select Auto connect and click Next.
  4. Leave the default wallet name and click Next.
  5. Select Multi-signature wallet and click Next.
  6. Select your chosen M-of-N policy. The top bar, cosigners is the N and the lower bar, Required signatures is the M. Click Next.
  7. Select Use a master key and click Next.
  8. You will be asked to enter your Bitcoin Master Public Key. For Bitcoin, this is marked as Message B in your Signatory Information Packets. You can scan the QR Code or enter it manually. Click Next twice.
  9. Select Enter cosigner key and click Next.
  10. You will now need to scan or enter the other N-1 Bitcoin Master Public Keys. These are all marked with Message B on your Signatory Information Packets.
  11. You don’t need to enter a password, just click Next.
  12. Click on the Receive tab. This will show your receiving address which is basically your bitcoin cold storage address.
  13. Verify the Bitcoin cold storage address
  14. Click on the QR Code
  15. Use the smartphone’s QR code reader to read the QR Code. When the QR Code is successfully read, the smartphone should display the text version of the bitcoin cold storage address.
  16. Send this address to all your signatories and make sure they have derived the same address across their devices.
  17. If the verification fails, seek assistance
  18. Repeat steps 1 and 2 for Litecoin and Bitcoin Cash
  19. For Litecoin use the following program and the Message L keys: 
      $ ~/apps/electrum-ltc-3.3.6.1-x86_64.AppImage
  20. For Bitcoin Cash use the following program and the Message BC keys: 
      $ ~/apps/Electron-Cash-4.2.3-x86_64.AppImage

    Electron Cash calls master keys simply public or private keys