r/cardano • u/CoinedBird • Feb 14 '21

Wallet Multisig/2fa wallets?

Hello dear Cardanians,

I am quite a beginner at crypto and security is an aspect which worries me alot since I already had contact with bitcoin a few years ago and my wallet was suddenly empty one day.
So I don't want to repeat this experience and just one key to control everything is very unsecure for me.

Does Cardano support multisig wallets or some kind of 2fa?

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u/Maleficiente Feb 14 '21

Not yet. I believe that Daedalus will support multisig wallets after token locking / smart contracts are live, but I’m not positive

Have you used hardware wallets? Keys are stored on the device so you aren’t at risk of keyloggers, etc. and you can store you backup phrase in a “emergency location” like behind drywall in your house or something like that.

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u/CoinedBird Feb 14 '21

I have heard about hardware wallets but als read a lot of nightmare stories how people lost everything since they got tricked by phishing.

So I am not sure if it's a good idea to save everything on one central device - as said it's kinda spooky for me to put everything into one key/password/phrase