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How do I store a bitcoin multisig wallet configuration file?

Ideally, keep it in a password manager.

In bitcoin multisig, you don’t just need to protect your keys, you have to also protect your wallet configuration file. Your multisig wallet config file contains key details that describe how the wallet was constructed and allows you to recover your funds completely outside the Unchained platform using our open-source multisig wallet configuration software, Caravan. 

How to store your multisig wallet configuration file

Storing your multisig wallet configuration file is important, but the information it contains is not as sensitive as your seed phrases and hardware wallets. While it can reveal private information such as your transaction history and address balances, it cannot be used to spend funds. In fact, to spend funds from a multisig wallet, you need both two of three keys and the multisig config file to reconstruct it. 

Note: If you haven’t yet downloaded your wallet config file, follow our guide to learn how.

Keep it in a password manager (preferred method)

Since you can store your multisig config file digitally, the best place to store it—to maximize security, preserve it, and ensure you always have access no matter where you are—is in a password manager application. There are many different products that can accomplish this, but the two most popular are LastPass and 1Password.

How to upload your config file to LastPass

  1. Log in to your LastPass account.
  2. Click Add item to create a new item.
  3. Choose Secure note.
  4. Copy the contents of your config file and paste it in your new note. You can also add the file as an attachment to the secure note.
  5. Save your note.
  6. That's it—you're done.

How to upload your config file to 1Password

  1. Log in to your 1Password account.
  2. Click Add item to create a new item.
  3. Choose Document 
  4. Follow the prompts to upload your multisig config file.
  5. That's it—you're done.

Keep it on an SD card or USB flash drive

If you prefer not to store your multisig config file in a password manager, it’s still wise to put it in a safe place. In other words, don’t just leave it on your computer’s desktop. The easiest way to make it a bit more secure is to transfer it to an SD card of USB flash drive. You should then delete the copy from your desktop computer and store your drive in a safe place.