Coinbase, the cryptocurrency behemoth based in San Francisco, has announced that it is shuttering its multi-signature bitcoin storage platform known as Coinbase Vault. After April 19th, 2018, the company will no longer provide the third private key in this clever multi-signature bitcoin storage mechanism.
Citing difficulty supporting new bitcoin forks, and low customer interest, this change comes a full year after their announcement to disable new Vault account registrations.
Source: https://blog.coinbase.com/multisig-vaults-on-coinbase-c21f58eed7cb
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Thank you, I've heard this multi signature address concept a few times before, but never did any research on it. Regarding security, I think a phone is actually really secure, as long as you backup your seed somewhere else, and you set a spending password. I'd put 10s of thousands of dollars on a phone without any worries.
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