What is Vultisig?

Vultisig is a super unique wallet that allows you to create multisig wallets using your own trusted devices. This most unique thing about it is that it doesn't use private keys or secret pass phrases. Instead, it uses your trusted devices to generate "vault shares" that can be stored and recovered anywhere in seconds. Individual Vault shares do not store any crypto, and can be used for pretty much nothing without the other shares. In order for a malicious entity to touch the funds in your wallet, they would need both Vault shares in the case of a 2-2 wallet. There are 2-3, 3-4, and a few other options depending on the level of security and distribution you want for your assets. Bye-bye single-point-of-failure private keys or recovery phrases. It supports a number of different blockchains including Bitcoin, Ethereum, Litecoin, Solana, Thorchain, and many more.

Why multi-sig?

Just as I mentioned above, standard crypto wallets have a couple single points of failure. If the private key is compromised, the entire wallet is compromised. If the recover phrase is compromised, the entire wallet is compromised. With a Vultisig wallet, neither of these exist. So even if someone acquires one of your vault shares, they can't do anything with it. The other advantage of this would be - if you are travelling and need to access your funds... You could have your vault shares stored in the cloud like iCloud or Google Drive. Again, very secure even stored in the cloud because it's just a single vault share. You could simply download your vault share on whatever device you need then you're good to go as long as you have access to the other vault share. There's a ton of other reasons multi-sig wallets are much more secure, but you get the idea.

Is it complicated?

No. It's actually less complex than setting up any other kind of crypto wallet in my opinion. In the case of my most recent vault setup, my business partner that knows little to nothing about crypto was able to join and create the new Vault in seconds. This can either be done on a local network with local devices or over the internet using encryption to set up from anywhere in the world. In just a could taps, you'll have a secure vault and you'll be ready to start storing/swapping crypto with ease. Let's go ahead and create a 2-2 vault and you'll see how easy it really is. You'll need 2 devices, whether it be 2 phones, a phone and a tablet, or whatever combo you prefer. Just make sure they're devices you trust and will have access to.

How to create a Vault

Step 1 - Download the Vultisig app on both devices you wish to use for the Vault creation. Phone, tablet, or computer.

Step 2 - Select Create Vault. (or Start if you're adding a Vault to an existing device)

Step 3 - Enter a name for the new Vault.

Step 4 - Scan QR with other local device, or Share (top rught) with a device that is not local. Make sure you select Internet for over the air, or Local for local wifi connection.

Step 5 - Wait for the pairing process to complete, and that's it! Just make sure to use each device to back up their Vault share in a secure location. This could be locally on each device or in the cloud. Just make sure that they are stored separately.

Easy enough?

Now that wasn't too bad, right? Now you have a 2-2 (or whatever setup you chose) wallet that requires you to confirm transactions with both devices. There's also the ability to swap between supported assets using thorchain and other routes on the backend right in the app. Plug-Ins are coming soon, which will add even more functionality to the app as well. Dont forget - there is a token airdrop VULT coming which is entirely based on the amount of assets you have stored in your vaults. You just need to register them to qualify for the airdrop.

Enjoy your new super-secure wallet! Hope you get a nice fat airdrop.