{"id":18483,"date":"2020-08-20T18:34:09","date_gmt":"2020-08-20T18:34:09","guid":{"rendered":"http:\/\/ci027cfe65e01326c3"},"modified":"2020-08-20T18:34:09","modified_gmt":"2020-08-20T18:34:09","slug":"video-how-to-use-lily-wallet","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/culture\/video-how-to-use-lily-wallet","title":{"rendered":"Video: How To Use Lily Wallet"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><figure><img decoding=\"async\" src=\"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/video-how-to-use-lily-wallet.png\" title=\"\"><\/figure>\n<div class=\"youtube-embed\" data-video_id=\"9xUgyTYqvcQ\"><iframe loading=\"lazy\" title=\"Bitcoin Magazine Walkthrough: Easy Multisig, How To Set Up And Spend 2-Of-3 Multisig W\/ Lily Wallet.\" width=\"696\" height=\"522\" src=\"https:\/\/www.youtube.com\/embed\/9xUgyTYqvcQ?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<p>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.<\/p>\n<p>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.<\/p>\n<p>To help Bitcoiners leverage Lily Wallet, <em>Bitcoin Magazine<\/em>\u2019s Christian Keroles has recorded a walkthrough video. In the video, he explains the following steps:<\/p>\n<p><strong>Setting Up Lily Wallet:<\/strong><\/p>\n<p>Step 1: Download Lily Wallet through Kevin Mulcrone&#8217;s website: <a href=\"https:\/\/lily.kevinmulcrone.com\/\" target=\"_blank\" rel=\"noopener\">https:\/\/lily.kevinmulcrone.com\/<\/a><\/p>\n<p>Step 2: Select \u201cNew Account\u201d<\/p>\n<p>Step 3: Name your wallet<\/p>\n<p>Step 4: Plug in your wallet and click \u201cScan Device\u201d (Coldcard, Ledger, Trezor)<\/p>\n<p>*For Coldcard, you can set up in an air-gapped fashion through Coldcard Navigate&nbsp;<\/p>\n<p>*Import the xPub file with the &#8220;Import From File&#8221; button<\/p>\n<p>Step 5: Set the number of signers needed to unlock funds<\/p>\n<p>Step 6: Set a strong password (<em>Bitcoin Magazine<\/em> highly suggests using a password manager)<\/p>\n<p><strong>How To Spend From Lily Wallet<\/strong><\/p>\n<p>Step 1: Click on the &#8220;Send&#8221; tab<\/p>\n<p>Step 2: Paste the address to which you want to send funds<\/p>\n<p>Step 3: Input the amount you wish to send<\/p>\n<p>Step 4: Click &#8220;Preview Transaction&#8221;<\/p>\n<p>Step 5: If the transaction details look good, click &#8220;Sign Transaction&#8221;<\/p>\n<p>Step 6: Sign with your independent hardware wallets<\/p>\n<p>Step 7: Click &#8220;Send Transaction&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lily Wallet promises to make it easier than ever to apply multisig management to your bitcoin wallet. In this video, Bitcoin Magazine\u2019s Christian Keroles explains how.<\/p>\n","protected":false},"author":2705,"featured_media":18484,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33],"tags":[],"class_list":["post-18483","post","type-post","status-publish","format-standard","has-post-thumbnail","category-culture"],"author_data":{"id":2705,"name":"Peter Chawaga","nicename":"peter-chawaga","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/peterc-96x96.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/video-how-to-use-lily-wallet.png","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/18483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/2705"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=18483"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/18483\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/18484"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=18483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=18483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=18483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}