The BTC.com Wallet: Multi-signature security

Did you notice that your BTC.com Wallet creates secure bitcoin addresses that start with a 3, because it’s a multi-signature Wallet.

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The BTC Blog

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You might have noticed that some bitcoin addresses start with a 1 and some start with a 3.

For example, you might be able to conclude that this address is generated with a multi-signature Wallet because it starts with “3” →34qkc2iac6RsyxZVfyE2S5U5WcRsbg2dpK.

This address however is from a non-multi-signature Wallet because it starts with “1” → 185GYRXheZckJNBHGEdt4b9GSYcXV9r7fw.

You can check this yourself by opening your Wallet and looking through all your used and newly generated addresses. Although not all bitcoin addresses starting with a “3” make use of multi-signature technology, this is one simple way to try to determine if your Wallet is multi-signature or not, because addresses that start with “1” are never multi-signature.

Multi-signature = security

BTC.com is one of the very few Wallets that makes use of multi-signature technology. This means that in order to make a payment from your Wallet, you need 2 out of 3 private keys (signatures).

Your primary private key is encrypted in your Wallet, and is the key you would normally use to send transactions. Your second private key was given to you unencrypted as a backup PDF, when you initially created the Wallet. The third private key, which is unable to move funds on its own, is used by BTC.com to co-sign your transactions, which you signed using your first key.

This multi-signature setup allows BTC.com Wallet users to remain in full and exclusive control of their funds, while providing an additional layer of theft protection that a non-multi signature setup can’t provide:

  • If BTC.com’s security system detects a potential fraudulent attempt to access an account, transaction co-signing gets disabled. This gives the hacker no ability to move funds out of a potentially compromised Wallet.
  • Users are always able to recover their rightful funds using the two private keys provided to them.
  • Variety of additional user-defined security settings and limits, that will be rolled out in early 2018.

Is your current Wallet not multi-signature?

If you are a BTC.com Wallet user you can rest assure that your private keys are generated securely, and no further steps are required from your part.

If your Wallet is not multi-signature, we would encourage you to consider upgrading to a multi-signature Wallet.

The BTC.com Wallet

As mentioned above, the BTC.com Wallet offers the safest and most user-friendly digital Wallet. Perfect for beginners and advanced users alike! Our Wallet is secure-by design, allowing you to be in full control of your funds. Access your Wallet on any devices, anytime.

Best features

  • Bitcoin (BTC) & Bitcoin Cash (BCH) support
  • 100% control of your private keys
  • Buy Bitcoin (BTC) and Bitcoin Cash (BCH) directly from your wallet
  • Dynamic transaction fees — pay optimal transaction fee for the fastest transaction confirmation times at the best price.
  • Accelerated transactions — push your priority transactions directly to the BTC.com mining pool for super fast confirmation times.

Secure & private

  • 2-of-3 multi-signature Wallet
  • Master seed backup — one backup keeps your bitcoin safe forever.
  • Enable 2-factor-authentication
  • Create unlimited bitcoin addresses (HD)
  • Transaction history with full transaction details

The BTC.com Wallet is available on Web, iOS and Android.

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These are exciting times as we are taking part in a new, open financial system. Thank you for using our products, you are always safe with BTC.com!

If you have questions, please contact our support team via support@btc.com

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Secure and trusted Bitcoin and BitcoinCash wallet. Open-source and fully featured mining pool. Block explorer. For support, email: support@btc.com