IntroductionBitcoin, the world's first decentralized digital currency, has gained immense popularity in recent years. With its potential for high returns and the ability to...

Hey what's up it's nathan here and in this video i'm going to show you how you can set up a multisig bitcoin wallet by using sparrow wallet also i'm going to show you how you can go ahead and use the blue mobile wallet so that way youCould track your balance on your mobile device you could also get your address on your mobile device so you could receive bitcoin to to your device also you could use blue wallet to be one of the signing devices so you can use it for a bunch of different things so i'mGoing to show you that and then of course i'm going to show you how to receive and send with multi-sig sending was a little scary to me so i want to show you how you can do it so anyway we had a lot to cover probably a little bitLong video but i'll show you everything you need to know i guess so let's go ahead and look at sparer wallet so i'll have a link to it down below just make sure you download you know the right version you don't want to get one that you know steals information or somethingLike that so sparrow bitcoin wallet is what we'll be using here so i'm going to load it up and what i want to do is come up to file here and we'll do new wallet and so i'm just going to say this is the sample and i'll go ahead and create wallet hereAll right so then we have different policy types so this is where we go ahead and select multi-signature i mean additionally you know you could set up a single signature if you want to then we select the number of cosigners so you can do you know select what what'sRelevant to you or what makes sense i'm doing two or three in this demonstration but i mean you can drag the little slider thing and make it whatever signatures you want um and then script type i'm going native segwit right here and then we have the descriptor which isAuto generated based off of your settings right here or i guess you could change it if you want to but anyway we're going to come down here to key stores and this is where we're going to be working with primarily so we have four different options here so we could goAhead and connect a hardware wallet so if you have you know a hardware wallet you could use one of these as your keys and that's what i'm going to be doing right here in this video is using one of my my ledgers here and uh what you want to do is set upYour ledger first so go through the whole process of you know putting in your seed phrase and all that stuff to configure your your ledger your your wallet so it's already set up and ready to go um you could use an air gapped hardware wallet a new or importedSoftware wallet or x-pub watch only wallet i'm going to cover hardware wallet and new or imported software wallet i don't have air gap hardware or x-pub watch only wallet so yeah we're just going to run with these two but you could experiment with the other ones andSo the first one i'll go ahead and do is the new or imported software wallet so if you don't have you know a hardware wallet you could you know create you know a brand new wallet so we have a couple options here we have mnemonic uh electrum or master privateKeys i'm going to go with this one um where i enter 24 words so we'll select that option right there and we could go ahead and you know if we already have our mnemonic phrase we could plug that in or we could generate a new one soJust like that i've generated a new one and i'm going to blur it out i'm not going to use this address but who knows i'm just going to blur it out anyway and i'm going to go ahead and write down my my 24 words real quick so i'll do thatAnd then i'm going to go ahead and confirm the backup real quick so it asked me if i've written the words down yep i have so re-enter the words and then i go ahead and plug them back in and then i'll go ahead and hit create key store andImport keystore so there we go i have one keystore configured right there on to the next key store so this time i'm going to go ahead and use a hardware wallet so i'm going to go ahead and plug it into my computer real quick and thenI'll go ahead and enter my pin into the ledger so let me do that real quick and i also want to go ahead and open up the bitcoin app so i'll go ahead and open the bitcoin app and you should get a message that says that bitcoin is readySo i don't know if it'll show up on the camera but it should say bitcoin is ready so now i'm ready to go ahead and click on the connect hardware wallet button here and then i'll go ahead and scan so it's going to go ahead and check for ourDevice or i need to check my device so watch it and nothing showed up on my device but i get a message right here and i see my ledger nano here so i'll go ahead and do import key store i'll go ahead and import for me and just likeThat i've added my ledger nano now onto key store number three i'm gonna go ahead and do another hardware wallet because i have two handy so i'll go ahead and do that real quick and it's the same process as last time i'm going to go ahead and access my ledger andOpen up the bitcoin app so i'm going to do that real quick and once i've done that i hit connect hardware wallet and i hit scan and i wait for it to find my ledger and here it is right here so i'll go ahead and imp import the key storeAnd just like that i've set up my three key store so the one that i created here within sparrow wallet and then i use one ledger and then another ledger so i am ready to go so i'll go ahead and click apply now and then i can go ahead and add aPassword to the wallet or i could leave blank or leave empty for no password and this password is just so you can access it on sparrow wallet so it kind of you know keeps it private or whatever on your computer but this password isn't like you know used elsewhere so it'sJust for your sparrow wallet password so you can have one or you don't need one i'm going to do no password for this example because i'm not going to use this wallet but anyway no password and just like that we see that the menu changed over here so i could go aheadAnd look at transactions i could go ahead and send receive addresses so these are all the addresses that i could receive to the utxos and we have the settings here and so that's how you go ahead and you set up the multi-sig wallet on spare wallet now we'll go on to the nextPortion of this video where we go ahead and connect it to blue mobile wallet so that way we can look at our balances on our mobile phone and also we can get our addresses and even use it as a signet signature device if we want to so i'm gonna go ahead andConnect my phone to my computer and i'll see in a second alrighty so i have my phone loaded up and i have blue wallet downloaded and installed so again link in the description down below for where to get blue wallet and what i want to goAhead and do is click on export in sparrow wallet and we see the option for blue wallet vault multi-sig so i'm going to select that option but you see there are other options as well so if you want to connect to other wallets you can do that and i'm going toGo ahead and do show here and it's going to pop up a qr code and i'm going to blur it out but there is a qr code there and i want to go ahead and in blue wallet i'm going to hit this little plus button right there in the top rightCorner so click that and we also see the option down here for import wallet right so we're going to go ahead and click on import wallet and then i go ahead and click on scan or import a file so we got that option down there below so scan orImport a file pops up my camera scans the qr code and just like that i've connected my wallet to blue wallet so i'll hit ok and i'll go ahead and click into it or tap into it and just like that i see my wallet on my mobile device inside ofBlue wallet now one thing i can do is i could click on manage keys here so if i click on manage keys we see that i have three keys so blue wallet knows that it is a multi-sig and i could go ahead thenAnd add a seed if i want to in order to use blue wallet as one of my signing devices so with the one key store that i created where i created a new with new seed phrase and everything like that i could go ahead and plug that into blue walletOver here and use blue wallet as one of as one signature so i'll go ahead and say i have a seed for this key and i can confirm which key it is by looking at the last three three digits or characters here we see eight xdWe got eight xd right here so i know that i'm looking at the right you know wallet or key i guess is the proper name so i know that i'm working with the right key because if i try and plug the key in for this one well that is my myLedger and so it's not going to work so i want to make sure that you're plugging in the the right key to the right device right so anyway i'm going to go ahead and do i have a seed for this key so i have a seed for this key and then itWants me to go ahead and type in my 24 words that i wrote down previously for this wallet so i'm going to go ahead and type them in real quick and then i'm going to go ahead and click on save down here and i'll open my wallet back up andClick on manage keys again just to take a look at everything and now we can see right here at the top of the manage keys page we have signatures required too and i can make one with this device so now my my phone is a signing device soThat's pretty handy and now on to the next portion of the video so we're going to talk about actually receiving crypto to this address or to this wallet and also how to send a multi-sig transaction so you know we can get our address from our blue wallet now so since youProbably have your phone on you with at all times um you know that makes it very easy to whip it out and grab your address so we see the option down here to receive or send so i don't have anything to send so i gotta do receiveFirst so i'll tap on receive and have you stored your wallet back up and blah blah blah blah yes i have okay and so there we go i have my qr code so i could go ahead and receive bitcoin to this address also if i came over here toSparrow wallet and i looked at receive we would see that the address you know gc2hgc2h is the same address so you can kind of see that they're they're connected right like the same wallet right hopefully that's making some sense and then of course as soon as you sendSome bitcoin to this address it's going to get generate a new address which will be the next one on this list so you'll see as i send some bitcoin to this address both spirit wallet and blue wallet will then show a new address which will be this 2r91 address so you'll see thatAfter i send some bitcoin to this address but for the time being i'm going to go ahead and receive i'll go ahead and copy this address and then i'm going to send some bitcoin to my address and we can send bitcoin from anywhere so you can send itFrom an exchange or you can send it from your node or wherever you have your bitcoin stored you could go ahead and you know just send it to this address just like normal so i'm going to go to my node real quick because i have someRight there and i can easily send it over and i'm going to go to bitcoin here and i want to go ahead and withdraw and let me grab that address again so right here grab the address and i'll go ahead and paste it in hereAnd i'll just send 50 000 sets and let me double check the price right now and of course the mempool is pretty full so i got to pay a higher fee in order to get this video you know complete today so i'm going to have to pay quite a bitTo send you know 20 but no no big deal that's for demonstration purposes only so i'll go ahead and set the fee and of course if you're sending this from an exchange or something like that like they'll automatically do the fee for you uh just coming from my node i can selectThe fee so that's why i'm going through this process and i've successfully withdrawn 50 000 sets so i'll go ahead and copy that transaction or i can go ahead and view the transaction actually and so here i am in the first block so hopefully you know i get it processedVery soon and actually we see spur while it sees the new mempool transaction at 50 000 sets so sparrow wallet already picked it up and actually my i don't know if you can see this but my phone also picked it up uh and blue blue wallet so blue wallet and also spareWallet see it and actually here there you can see it on my phone right there so pending 22.32 0.0005 bitcoin in about 10 minutes so that's how you send bitcoin to the address and you know very simple just like sending bitcoin to any other any other address uh of course sending is aLittle bit different so we'll cover that as soon as you know the bitcoin is confirmed in my wallet and i'm able to send it so it'll be a few minutes but you won't know the difference because i'll edit the video alrighty so it's been three confirmations you can seeThat right here so now i can go ahead and send my bitcoin if i want to and i want to in this video demonstration and i'm going to be using blue wallet to go ahead and initiate the send just so that we can see how it works as a signingDevice but also you could go ahead and just use sparrow wallet and just hit send here and just follow the instructions uh through sparrow wallet so it's pretty pretty self-explanatory especially if you understand how it works in blue wallet over here because it's kind of like the same conceptBasically but anyway i'm going to go ahead and click on send down here in the bottom right hand corner and i'll go ahead and enter the amount i want to send so click there i want to send the oh 10b bitcoin that'd be nice no i don't have 10 bitcoin on ascend 0.5Bitcoin or max and then i have where i want to send it to so i'm going to send it back to myself over here on my node so i'm going to come back and this time i want to go ahead and deposit bitcoin and there's my addressSo i can go ahead and actually just scan it so i'll scan it there but you know if you want to copy and paste you can do that as well and back to my phone note to self just returning sample funds and then i also can select my fee if iJust tap on that right there and we see i have fast medium or slow i'm going to go ahead and let's let's just check the mempool again real quick i'm going to bump it up a little bit just to make sure it goes through during this video um so that wayI don't have to worry about it alright so back to my device so i'm going to click on custom there and i'm going to go ahead and do we'll just do 10 10 set per v byte okay and then we'll go ahead and do next and i already have the signature on thisDevice so i'm going to go ahead and tap on provide signature right there and it gives me this flashing qr code but what i want to go ahead and do is click share down below so i'll do share and it asks me where i want to go ahead andSend this partially signed bitcoin transaction so i'm going to go ahead and email it to myself so i have it on my computer and i can access it with sparrow wallet so let me go ahead and do that real quick and now i have that fileOn my computer so i'm going to come back to spare wallet right now and do file and open transaction and i'll do file and then i'll go ahead and navigate to that file that i just downloaded so let me do that and so now we can see theWhole transaction right here we have an overview or we could go to detail right there so if you're interested in that type of information we see that it's already signed we have one signature and now we need to go ahead and sign it with another signature so i'm going to goAhead and click on sign and then i need to go ahead and connect my hardware wallet so go ahead and do that real quick and just like when we're adding the hardware wallet we want to go ahead and enter our pin and open up theBitcoin app so you want to do all that stuff before you go ahead and click scan so i'm going to go ahead and do that real quick and now i can click on scan it's going to look for my hardware wallet and there it is right there soI'll go ahead and hit sign and a message has popped up on my ledger that says to review output number one so i scroll over i see my amount bitcoin uh the address that's going to and then i'll go ahead and do accept and go ahead and accept and send toConfirm my transaction and hopefully it'll say it's signed up here on sparrow wallet and just like that we're signed up so now we go ahead and do broadcast transaction and boom it went out to the mempool here i could go ahead and copy this transaction id and i go ahead and paste itAnd run it and i can see here that my transaction is in this first block to be processed we do see the multisig 203 right there and we see you know where it's going and all that type of stuff so you know hopefully in about you know 10 minutesPlus you know a couple more confirmations i'll be able to see the funds in my bitcoin wallet and actually it might already be posted yeah so it's already coming in it looks like i've lost 1500 sats from sending it to myself and back to myself but you know i wantedTo show you this how you can go ahead and you know set up a multi-sig wallet and send funds back and forth and all that type of stuff in and i forgot to mention you probably want to follow you know your typical security protocols where you you knowYou geographically separate your keys so you don't have them just sitting at your house or something like that i mean remember you have you know blue wallet so you have your address where you can go ahead and you know send bitcoin to but when it comes to sending it youProbably want you know your keys away from you right so that way you know you're keeping things as safe as possible so just wanted to toss that in here hopefully you knew about that already but it's a very important step i think that pretty much covers it for this videoI hope you found it helpful if you did i appreciate any sorts of likes comment subscribes and i hope you have a great rest of the day