Collaborative Multisig Setup Checklist #
This checklist will guide you through setting up and verifying a collaborative multisig wallet using Nunchuk.
Once everything is completed, you should feel fully confident in using multisig within your organization.
Step 1: Initial Setup #
- Download and install Nunchuk on your phone.
- Ensure Nunchuk is installed on all of your wallet member devices.
- Log in to your Nunchuk account.
- Set up the network to Mainnet
Step 2: Enable Collaborative Wallet #
- Go to Settings -> Developer settings.
- Enable Matrix-based collaborative wallet.
Step 3: Create or Add a Key #
- Add your hardware wallet key or use a softkey (Testnet only).
Step 4: Connect with Contacts #
- Create a group chat with all members under Messages -> Messages.
Step 5: Create the Collaborative Wallet #
- In the group chat, press Create a collaborative wallet.
- Set the Total number of keys and Required keys for transactions.
- Assign the first key.
- Ask each member to join the group chat and assign their keys.
Step 6: Backup and Verification #
- Ensure each wallet member has backed up their seed phrases securely.
- Confirm that backups are stored on durable media (e.g., metal plates, SeedSigner backup plates).
- Ensure each backup is stored in geographically segregated locations.
- Store the BSMS backup file in each location where the backup keys are stored.
- Save a copy of the Nunchuk software in multiple locations.
- Nunchuk Android APK (burn to CD/DVD).
Step 7: Test Transaction #
- Perform a small test transaction to confirm the wallet is functional.
Step 8: Verification and Recovery #
- Wipe the existing wallet setup from your devices.
- Reinstall Nunchuk (or install on a new device).
- Import the BSMS file to recover the wallet.
- Add the necessary keys for the multisig setup.
- Recover from hardware backups or add air-gapped, NFC, or software keys.
- Verify that you can send and receive bitcoin.
Step 9: Final Security Check #
- Confirm that no single location contains more than one key or seed phrase.
- Simulated potential failures:
- Lost wallet member public key.
- Lost wallet member private key.
- Multiple lost keys. Maximum lost keys allowable: ___________________
- Failure of the Nunchuk service (tested recover using Sparrow Wallet).
Step 10: Long-term Maintenance #
- Set a calendar event with a notification for 6 months to re-run all vital checks (backup verification, recovery testing, transaction test, etc.).