EOS Guide: Keep your EOS account SAFE using Multisig Structure

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Please read this first: Advanced EOS Multisignature Tutorial to understand EOS Multisignature
Recommend: Using Scatter Desktop, not Scatter extension on Chrome

Look at my testing account first:
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What is the problem here?
If I lose my Active Key, I can use my Owner Key to change it.

  • If someone steals my Owner Key, that bad guy can take over my account. I will lose it forever.

To avoid that, we should apply Multisig Structure on our EOS accounts.

1. Set up multisig permissions on your account:

  • Login your EOS account with your Owner Key on bloks.io => Wallet => Permissions Manager
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  • I focus on Owner first. You can use this guide for your Active later. Let's change it.
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What changes on the above picture:
* Owner is the first layer, so let its Parent blank
1)Threshold: 2 (always >= 2)
2)Keys: delete all keys (because a key without the highest threshold cannot make a msig transaction)
* We should use accounts, please prepare the number of accounts > Threshold. In this guide, I prepare 3 accounts. The reason is that if you lose 1 account, you still have 2 left to make a msig transaction
3)Accounts: add 3 accounts 13jjjjjjjjjj@active, iloveueosdac@active, and 1rtkjeosdac1@active with threshold 1 for each

  • Click Save Permission

  • When completed, check out your account permissions
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2. Create a msig transaction (change permissions, tranfer tokens, stake, unstake, delegate, undelegate, buy/sell RAM, etc.):


In this guide, I am gonna transfer tokens

  • Pick up 1 of 3 accounts to login (I choose 13jjjjjjjjjj@active) and turn on Multisig Mode
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  • Go to Wallet => Transfer Tokens
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  • Click Transfer 0.01 EOS to iloveueosdac

  • Then, you will turn to Propose Multisig Transaction
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  • Put on the transaction information

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* Proposal name: put on anything you want, but it is not longer than 12 characters
* Requested Approvals: my Owner Threshold is 2, so just pick up 2 of 3 accounts

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* Authorization: put on your Sender account. Here is account4test and owner (I put on owner because all of my Requested Approvals are on Owner Permissions)
* Data: from: change 13jjjjjjjjjj to account4test (tranfer tokens from account4test, not 13jjjjjjjjjj)

  • Click Propose

  • When completed, click on msigtxtest
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  • Turn off Multisig Mode
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  • Use the first approval account 13jjjjjjjjjj and click Approve Transaction

  • Logout and Login the second approval account iloveueosdac and click Approve Transaction

  • Now you have 2 approvals, then click Execute Transaction
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  • Congratulations! Your msig transaction is done!
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  • When completed, click F5 and you will see
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  • Check out the transaction on account4test
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That's all. Hope that helps you :)

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EOS Guide: Keep your EOS account SAFE using Multisig Structure | Ecency