However, it is also important to note that a 2-of-2 setup requires both parties to carefully manage and secure their respective private keys, as losing or exposing one of the keys could lead to unauthorized access to the wallet. A single-sig setup, while simpler, only requires the user to manage a single private key. The simplicity comes with a trade-off of increased risk of key loss or theft.

Ultimately, the most secure solution would be a 2-of-3 setup, as you mentioned, as it offers increased resiliency in the event a key is compromised.