Collaborative Multisig in Nunchuk #
Introduction #
In this tutorial you’ll learn how to set up a collaborative multisig wallet in Nunchuk Wallet. We will start by configuring a 2 of 3 Multisig wallet shared by three participants. This is the first part of a series designed to give you a safe way to experiment and learn with the Bitcoin testnet without risking real Bitcoin. When you’re ready to move to the mainnet, you can skip to the second article to set up a mainnet wallet for real bitcoin transactions.
This setup is collaborative, meaning it’s managed by multiple users or an organisation.
The Nunchuk simplifies the process and follows open standards. This means you can restore your wallet to other wallets, such as Sparrow, so you’re not dependent on any one service.
Prerequisites #
- Nunchuk App on your phone
- Nunchuk app installed on at least one of your wallet member devices or a secondary phone
Preparing set up #
You can apply these steps to the main network later, but for now, we’ll use the softkeys generated by the Nunchuk for a quicker and easier setup on the testnet. This approach allows you to focus on learning without the added concern of security. Once you feel comfortable, you can transfer these skills to a mainnet setup using hardware wallets. Many hardware wallets also offer a testnet mode for practice. To get started, follow these steps:
- Download and Install Nunchuk: Nunchuk
- Launch the app and log in
- Configure Testnet Settings:
- Tap on Profile.
- Select Network Settings
- Choose the Testnet Server option
- Save and Restart: Save your changes and restart the app.
Enable Collaborative Wallet #
Collaborative wallets are turned off by default, so you’ll need to enable them in the settings:
- Navigate to Settings.
- Go to Developer Settings.
- Enable “Matrix-based Collaborative Wallet”.
Create a Key #
You can create a key in several ways:
- Software Key: Generated via the Nunchuk app and stored on the device running Nunchuk.
- Air-Gapped Key: Created using a dedicated hardware device such as Seedsigner, Coldcard, or Trezor.
- NFC Keys: Utilized with devices like Tapsigner, Coldcard, and Portal.
Connect to Your Contacts #
- Go to Messages and select Contacts to add each member to your contacts list.
- Under Messages, create a chat that includes all members.
Create Collaborative Wallet #
- In the group chat, press “Create a Collaborative Wallet.”
- Choose a wallet name.
- Enter the Total Number of Keys and the Required Keys. For example, if there are 5 members with a total of 5 keys, and 3 keys are required to send funds, enter those values accordingly.
- Continue and assign the first key.
- Inform the other members to join the group chat and assign their keys in the wallet configuration message that appears.
Now, your collaborative wallet is ready to use! You can send funds to it and request Testnet bitcoins from faucets such as:
Next steps #
Take some time to explore signing, receiving, and sending bitcoin on testnet. Once you’re comfortable, move on to the next part of this series to set up a mainnet wallet for real bitcoin transactions.
