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3-of-5-Redundancy-focused-Wallet.md

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3-of-5 Redundancy-focused Multisig Wallet

This is a three-seed wallet that uses a passphrase to create 5 wallets in a multisig configuration that are stored in such a way to maximize loss redundancy (at the expense of compromise resilience). Good for large amounts (> $20,000).

Variable parameters

Creation

Use the 3-of-5 Multisig Wallet.

  • Offline Master Passphrase
  • Storage Configuration:
    • Safe deposit box 1: Mobile Seed, HW Seed 1, unencrypted data record
    • Safe deposit box 2: Mobile Seed, HW Seed 2, unencrypted data record
    • Home safe: HW Seed 1, HW Seed 2, HW Wallet 1, HW Wallet 2, unencrypted data record
    • On your person: Mobile Wallet

Properties

  • Loss Redundancy (with passphrase): double
  • Loss Redundancy (no passphrase): single
  • Compromise Resilience (passphrase not compromised): double
  • Compromise Resilience (passphrase compromised): single

Rationale

  • No location has enough seeds to lead to theft of the wallet if any single location is compromised.
  • The mobile wallet seed is stored in both safe deposit boxes, because if it was stored in the home safe, the HW Wallets couldn't be stored there without making that a potential single point of failure if the seed was able to be extracted from one of the hardware wallets.
  • The HW Seeds are stored in the home safe even tho the HW wallets are there because the HW wallets are not durable enough to be considered a backup.