Can a Retail Trader Use a Multi-Sig Wallet Effectively?
Yes, a retail trader can use a multi-sig wallet, and it is generally recommended for securing large personal holdings. However, it requires a higher degree of technical competence and careful planning for key management and distribution.
The complexity and the risk of losing access if the required number of keys are lost are often deterrents for the average retail user.
Glossar
Retail Trader
Participant ⎊ A retail trader is an individual investor who buys and sells securities, cryptocurrencies, or derivatives for their personal account, rather than on behalf of an institution.
Retail
Participation ⎊ Retail refers to individual investors and traders engaging directly with cryptocurrency markets.
Multi-Sig Wallet
Security ⎊ A Multi-Sig Wallet, short for multi-signature wallet, is a critical security primitive requiring a predefined number of private keys, or signatures, out of a total set to validate and execute any outgoing transaction.