"open-source, do-it-yourself multisig software includes Caravan, Electrum, Lily, Nunchuck and Specter, among others."

I just researched Bitcoin Multisig Software to divide point of failure risk across multiple hardware wallets.

https://www.coindesk.com/what-is-a-multisignature-crypto-wallet

/1 Thread
Electrum seems the most difficult to use. Open-sourced from the early days of Bitcoin, and it shows. For the technically advanced Bitcoiner.

https://medium.com/@1700constantino/protect-your-bitcoin-with-an-electrum-multi-sig-wallet-with-coldcard-ledger-and-trezor-96397e4ce287

a step by step guide with photo/screenshots, A+ guide.

/2
Specter seems much better UX and similar (advanced) features to Electrum.

I found a video by @BTCsessions which does an epic job at breaking down how to use the software as well as best practices and words of wisdom. A+++ guide



/3
Lily and Caravan seem like the easiest to use but might not have as much features as Specter.

I found vids & step-by-step articles for both from @BitcoinMagazine

https://bitcoinmagazine.com/articles/video-how-to-use-lily-wallet

https://bitcoinmagazine.com/articles/video-how-to-create-a-multisig-wallet-with-caravan-by-unchained-capital

Seems easy to use these ones, will definitely look into more

/4
An epic guide on all things Bitcoin security from @mflaxman

"How to store bitcoin without any single point of failure."
10x Security Bitcoin Guide:
https://btcguide.github.io/ 

/5
A crucial difference in backing up a msig wallet vs a single key wallet.

You'll have to backup either the msig software wallet OR the individual public extended keys (pubx) from each of the hardware wallets.

Probably best to do both.
Save a copy with each private key.

/6
Example, you set up 2of3 msig, will need to have 3of3 pubx keys or a backup of the msig wallet. Otherwise, you'll need all 3of3 of the private keys.

Best practice is to backup all the public ext keys with each cosigner's private key.

/7
From watching @BTCsessions vid on Specter msig software, he mentions running myNode or running Bitcoin Core off your computer if you have a lot of harddrive space.

It would seem that running own Bitcoin Node is needed for using msig? (or connecting to one you trust).

/8
Fully going down the #Bitcoin rabbit hole
Use different brands of hardware wallets for your msig, to eliminate wallet provider failure risk.

Ledger, Trezor and Coldcardwallet for a 2of3 msig is recommended.

/9
Another popular msig model is the 3of5 hardware wallet.
I think i'd still just use Ledger, Trezor and Coldcardwallet, but I am thinking to add a Cobo wallet after watching
@BTCsessions's video on multisig wallet: Specter.

What an amazing teacher!!



/10
Want to learn more on Electrum, Specter, Nunchuck, Lily, Caravan open-sourced msig software?

I recommend watching all 5 multisig video playlist from @BTCsessions absolutely the best source on msig wallets i could find.

https://www.youtube.com/playlist?list=PLxdf8G0kzsUUqr4oVXRHL1L-iK1q9hCfq

/11
You can follow @JamieBTC.
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