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66 sats \ 5 replies \ @0307572b6c 2 Jun 2023 \ parent \ on: Too Embarassed To Ask - Your Bitcoin & Lightning Questions Answered bitcoin
Why ideally in a multisig? Would it not initially be good to just replace your, say, Ledger wallet with a Seedsigner?
With ledger your key lives on a secure chip on the device that used to be incredibly difficult to get off for security reasons. Now they offer it as a service...
With seedsigner the key does NOT live on the device at all. It lives as a QR code that it needs to scan every time you use it. Someone sees it or takes it then you just lost all your funds.
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Right, I got that. So it sounds like you're saying - replacing a ledger (or the like) with SeedSigner is great, even better would be to set up a multisig wallet.
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No I don't think it would be great on it's own. It greatly lowers the security.
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Switching from a Ledger to a SeedSigner would greatly LOWER the security? Would you mind explaining a little further, I don't understand.
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My previous comments explain it as best as I can simplify it. You might want to watch a tutorial on how seed signer works.
With seed signer the key is on a piece of paper or steel plate you have to keep along side the device when you want to use it. With ledger the key is on a secure element inside the device that requires significant effort to get off.
Secure element > piece of cardboard
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