Adding a passphrase to private keys

Adding a passphrase to private keys can make your self-custodian setup worse in some cases. This is because if the passphrase is lost or forgotten, the funds in the wallet will be inaccessible. Additionally, if the passphrase is weak or easily guessed, it can be a security risk.

However, in some cases, adding a passphrase can improve security. For example, if you are storing your private keys on a hardware wallet, adding a passphrase can make it more difficult for an attacker to gain access to the funds even if they have physical possession of the hardware wallet.

Ultimately, the decision of whether or not to add a passphrase to your private keys depends on your specific security needs and risk tolerance. If you are concerned about losing or forgetting the passphrase, or if you are not confident in your ability to create a strong passphrase, then you may want to avoid using a passphrase.

Here is a table that summarizes the advantages and disadvantages of singlesig and multisig wallets, as well as the potential risks and benefits of adding a passphrase to private keys:

| Feature | Singlesig Wallet | Multisig Wallet | Passphrase |

|---|---|---|---|

| Security |