I really want to go with multisig, but it scares me that if I ever need to restore multisig in the future, I’ll need all my xpubs, derivation paths, and private keys. I was reading this and it is my worst nightmare.
It’s easy to remember the 24 seeds for a single signature, but with multi-signature, no one on earth can remember the xpubs, derivation paths, master fingerprint, and seeds to recreate the multi-sig setup. I know I can save all of this. SD cards, BSMS files emails, etc. – but you still need a lot of information to reconfigure your spending permissions?
So essentially multi-sig is more secure because it eliminates a single point of failure from an attack perspective. However, if the owner, rightly or wrongly, does not know how to properly restore multiple signatures, it creates a larger potential single point of failure.> ?
Can anyone recommend absolute best practices for storing multi-signature data in case I need it for recovery?>