So from what I gather electrum or other software will allow the recreation of a multisig wallet via the use of both "master private keys" as long as the wallet is a 2 of 2 setup and no more.
Electrum can recreate a 2-of-3, 3-of-5 or more as long as you have the "
master public key(s)" or "
master private key(s)" of the remaining cosigners (
m-of-n).
Eg. For 2-of-3, if you already have 2 master private keys, you'll only need the other cosigner's master public key or master private key to recreate the wallet.
If I had the 2 private keys to a electrum multisig wallet but no seed words to recreate the wallets, could I still send the funds from the multisig wallet using those 2 private keys. The addresses of the private keys are different in a multisig wallet due to the combination of the private keys that created them, so that is why I ask.
Take note that even if this is possible in the console as mentioned, it's currently useless in Electrum since it's not automatically imported and Electrum can't sign a multisig unsigned txn via console
because there's no option to add the redeem script on its 'signtransaction' and 'signtransaction_with_prvkey' commands.
At least it may be implemented in the future (
/electrum/issues/5694) or it can be used in Bitcoin Core (
or other clients like coinb.in) if an issue occurred with the seed phrases.
You're thinking about the long term, I see.