What is a Single-sig Wallet?

Single-signature (Single-sig) Wallets with the factory presets use a standard, single-key address. The digital asset is accessible to whoever owns the right private key.

To access the wallet and approve transactions, a Single-sig Wallet must have one private key. When transmitting digital assets from a traditional crypto wallet to another wallet, you need to enter the private key associated with the receiving wallet.

Single-sig Wallets use private keys or mnemonic seeds to protect your digital assets from being stolen.

To sign transactions and freely move the digital assets, the user would simply need to transmit a single key from their wallet. The single-key address approach is more efficient and straightforward for individual usage.

Single-sig Wallet can be a Hot Wallet, or a Cold Wallet.

Related educational contents:
What are Digital Wallets?
What is a Hot Wallet?
What is a Cold Wallet?
What is a Single-sig Wallet?
What is a Multi-sig Wallet? (coming soon)
Multi-sig for teams (coming soon)
Single-sig VS Multi-sig Wallet & MPC VS Multi-sig Wallet (coming soon)

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