The "Shared Wallet" (sometimes referred to as a "Multi-Sig" wallet) is similar to a joint bank account. To access any funds in the account, a preset number of signatures is required before a transaction from the shared wallet can be broadcast to the bitcoin network.
To set up a shared wallet, please follow the steps below. In this example we will create a '2-of-2 Bitcoin Cash wallet':
- 1. From your Bitcoin.com "Wallets" homepage, tap on the "+" symbol next to Bitcoin Cash (BCH)
- 2. Select "Create Shared Wallet"
- 3. Enter a "wallet name" for the shared wallet, eg. "BCH Shared Wallet"
- 4. Next, enter the name for your share of the wallet. (This name will be your co-payer name on the shared wallet)
- 5. Select the total number of co-payers for the shared wallet; two (2) for this example.
- 6. Select the number of signatures required to move bitcoins from the shared wallet; again select two (2).
- 7. Tap on "Create Wallet" at the bottom of the screen.
- 8. The wallet will now display a QR code for the 2nd cosigner to scan. If the cosigner is not in a position to scan the QR code, just tap/click on the QR code and send this invite to the cosigner. It is safe to send this via email or SMS.
- Once the cosigner receives the invitation code, they will need to tap on "Join Shared Wallet" and enter the code.
- 9. After the QR code has been scanned (or the invitation code entered), the 2 wallets will be joined and will show as 2-of-2 on the "wallets" homepage.
- 10. Back up your part of the shared wallet and keep the backup phrase safe. Please note that it is very important that all parties back up their share of any joint wallet. If 1 person from a 2-of-2 wallet cannot sign because they have lost access to their wallet and do not have a backup, then those funds will no longer be accessible.
You can find more information regarding "shared wallets" Here