Video: How To Use Lily Wallet

Multisignature (or multisig) bitcoin wallet authorization requires the use of multiple keys to sign off on transactions, thus providing extra security over funds and dividing effective ownership of bitcoin among multiple people.

Though multisig authorization adds a layer of security to bitcoin wallets, it can be cumbersome and confusing to employ. But now, Lily Wallet, from software engineer Kevin Mulcrone, promises to make it easier than ever to apply multisig management to your bitcoin wallet.

To help Bitcoiners leverage Lily Wallet, Bitcoin Magazine’s Christian Keroles has recorded a walkthrough video. In the video, he explains the following steps:

Setting Up Lily Wallet:

Coinbase 2

Step 1: Download Lily Wallet through Kevin Mulcrone’s website: https://lily.kevinmulcrone.com/

Step 2: Select “New Account”

Step 3: Name your wallet

Step 4: Plug in your wallet and click “Scan Device” (Coldcard, Ledger, Trezor)

*For Coldcard, you can set up in an air-gapped fashion through Coldcard Navigate 

*Import the xPub file with the “Import From File” button

Step 5: Set the number of signers needed to unlock funds

Step 6: Set a strong password (Bitcoin Magazine highly suggests using a password manager)

How To Spend From Lily Wallet

Step 1: Click on the “Send” tab

See Also
Bitcoin Magazine first covered common misconceptions about Bitcoin as a guide for journalists in 2013. But some myths persist, so here we go again.

Step 2: Paste the address to which you want to send funds

Step 3: Input the amount you wish to send

Step 4: Click “Preview Transaction”

Step 5: If the transaction details look good, click “Sign Transaction”

Step 6: Sign with your independent hardware wallets

Step 7: Click “Send Transaction”

Video: How To Use Lily Wallet 1
blank
About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

blank

E-Crypto News Executive Interviews


blank

bitcoin
Bitcoin (BTC) $ 39,075.00
ethereum
Ethereum (ETH) $ 2,621.52
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 329.83
cardano
Cardano (ADA) $ 1.36
xrp
XRP (XRP) $ 0.719950
usd-coin
USD Coin (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.198784
polkadot
Polkadot (DOT) $ 18.45
binance-usd
Binance USD (BUSD) $ 1.00
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 39,075.00
ethereumEthereum (ETH)
$ 2,621.52
tetherTether (USDT)
$ 1.00
bitcoin-cashBitcoin Cash (BCH)
$ 539.32
litecoinLitecoin (LTC)
$ 141.44
bitcoinBitcoin (BTC)
32.884,50
ethereumEthereum (ETH)
2.206,20
tetherTether (USDT)
0,841574
bitcoin-cashBitcoin Cash (BCH)
453,88
litecoinLitecoin (LTC)
119,03
bitcoinBitcoin (BTC)
28,124.43
ethereumEthereum (ETH)
1,886.85
tetherTether (USDT)
0.719755
bitcoin-cashBitcoin Cash (BCH)
388.18
litecoinLitecoin (LTC)
101.80

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

blank
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021
Cryptocurrency Exchanges
Cryptocurrency Exchanges and the Plague of Scams and Bans
June 29, 2021
blank
What Role Do Cryptocurrencies Play In The Era Of Ransomware Attacks?
June 9, 2021
Crypto Scams On The Rise As Market Enters Bull Cycle
Crypto Scams On The Rise As Market Enters Bull Cycle
December 22, 2020
Harpreet Singh Sahni perpetrated the Plus Gold Union Coin (PGUC) scam
Sydney Concert Promoter Harpreet Sahni Involved In $50M Crypto PGUC Scam
November 2, 2020

Blockchain/Cryptocurrency Questions and Answers

Short-Sell Cryptocurrency
How to Short-Sell Cryptocurrency: A Brief Overview
July 17, 2021
Klaytn
What Is Klaytn (KLAY) And How Does It Work?
July 16, 2021
Cryptocurrencies
Our Crypto Roundup Interview Asks- Do Cryptocurrencies Have a Future?
July 15, 2021
Solana
What Is Solana (SOL) And How Does It Work?
June 26, 2021
blank
What Is Plethori Platform And How Does It Work?
June 12, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin39,194 0.47 % 2.33 % 0.30 %
Ethereum2,643.5 1.30 % 5.12 % 15.31 %
Tether1.000 0.04 % 0.14 % 0.29 %
Binance Coin331.13 0.63 % 2.82 % 5.63 %
Cardano1.360 0.12 % 1.63 % 7.19 %
XRP0.7246 0.58 % 1.25 % 12.81 %
USD Coin1.000 0.15 % 0.17 % 0.13 %
Dogecoin0.2000 0.41 % 1.43 % 2.24 %
Polkadot18.60 0.73 % 6.72 % 29.86 %
Binance USD1.000 0.30 % 0.35 % 0.32 %

bitcoin
Bitcoin (BTC) $ 39,311.00
ethereum
Ethereum (ETH) $ 2,668.57
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 332.13
cardano
Cardano (ADA) $ 1.37
xrp
XRP (XRP) $ 0.726611
usd-coin
USD Coin (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.200123
polkadot
Polkadot (DOT) $ 18.78
binance-usd
Binance USD (BUSD) $ 1.00