What are the best practices for using P2SH?

[Colorblind]

Hello,

I was wandering what are the best practice to secure hot wallets using P2HS addresses. As far as I understand I can use bitcoin script to add another layer of security to my hot wallet (i.e. add some sort of password or even use multisig, in order to spend incoming funds).

The question is:

Have industry developed some sort of standard to use this feature? For example I have noticed some exchanges use P2SH addresses for deposits. Are there any general ways/standards to conveniently use this feature to add additional layer of protection?

Thanks!

[HeRetiK]

What do you mean?

If you're talking about SegWit P2SH addresses: Those are supported by both Trezor and Ledger.

If you're talking about using multi-sig addresses: Electrum has the option to create a 2fa protected multi-sig wallets using a third party service:

http://docs.electrum.org/en/latest/2fa.html

Or at least they used to, not sure if that's still the case. Also it's questionable whether you really want a third party service to get involved.

[hugeblack]

What do you mean?

If you're talking about SegWit P2SH addresses: Those are supported by both Trezor and Ledger.

If you're talking about using multi-sig addresses: Electrum has the option to create a 2fa protected multi-sig wallets using a third party service:

http://docs.electrum.org/en/latest/2fa.html

Or at least they used to, not sure if that's still the case. Also it's questionable whether you really want a third party service to get involved.

I think he's talking about "privacy" because

I was wandering what are the best practice to secure hot wallets using P2HS addresses. As far as I understand I can use bitcoin script to add another layer of security to my hot wallet (i.e. add some sort of password or even use multisig, in order to spend incoming funds).

[More than one address in a wallet blockchain.info, greenaddress, ....etc]

Have industry developed some sort of standard to use this feature?

Yes, this is possible.I don’t know if there is a site that gives you several addresses to receive and send your coins but these addresses are managed by hosting what makes the site lose a lot "processing and storage" if given several addresses.
for more read this https://bitcointalk.org/index.php?topic=2931946.msg30114069#msg30114069