Bitcoin Multisig Explained: How 2-of-3 Keeps Your BTC Safe
Multisig (short for multi-signature) is a security model where more than one private key is needed to authorise a Bitcoin transaction. Rather than relying on a single key — which creates a single point of failure — multisig distributes trust across multiple keys. It's widely considered the gold standard for securing significant amounts of Bitcoin.
How Evoke's 2-of-3 model works
Evoke Vault uses a 2-of-3 multisig configuration. Three keys exist, and any two are required to sign a transaction:
- Key 1 — Your hardware key. A hardware wallet you control (such as a Coldcard, Trezor, or Ledger).
- Key 2 — Your second key. Another device or key you hold, which can be a second hardware wallet or generated through the Evoke app.
- Key 3 — Evoke's recovery key. Held by Evoke for recovery purposes only. We cannot move your Bitcoin unilaterally — a second key is always required.
Why 2-of-3 multisig matters
If you lose one key, you can still access your Bitcoin using the remaining two. If a thief steals one key, they cannot access your funds without a second. This is the same security model used by leading Bitcoin custody providers and institutions worldwide. Read more about what happens if you lose a key.
How multisig compares to single-key wallets
A single-key wallet is vulnerable to a single point of failure. If your hardware wallet breaks, is lost, or is stolen — and you don't have a seed phrase backup — your Bitcoin is gone. Multisig eliminates this risk by distributing the security across multiple devices, locations, and (optionally) parties.
Built on Caravan: Evoke Vault is built on the open-source Caravan multisig coordination software, not a proprietary system. This means your funds are never locked into Evoke's platform.
Related: Learn about our non-custodial architecture and how to set up your first multisig vault.