I'm considering buying multisig coins from Denarium (they sell physical bitcoins), has anyone here done that and able to break down the process in simple terms?
The company seems trustworthy, but is there any risk on my part when doing a multisig transaction? I have ordered a Ledger Nano S hardware wallet to store the bitcoins on.
Are you sure you want physical bitcoins? A physical bitcoin is really just a kind of paper wallet. The difference is it's made by third party, ideally one who is trusted, and hides the private key for later redemption. The idea behind physical bitcoins is they can be traded and reused for the value they contain. As long as the private key isn't exposed the value should be safely stored on the coin. The problem is nobody can really be sure if the private key is ever exposed. The original physical bitcoins
by Casacius were hacked successfully revealing the private key.
If you buy a multisig coin from Denarium the only danger is in generation and use of your part of the multisig. You must be sure the multisig address provided does in fact work with the private key for the second signature known only by you. If so then yes it's safe. Again, though, I'm not sure why you would want to own such a coin. It's unlikely you could trade it successfully because the recipient isn't sure which private keys may have been exposed. You can hold the same value in a normal paper wallet which you generate yourself. I hope this makes sense.
