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Breadwallet Download

3/29/2022
Last updated March 1, 2021

Find Breadwallet LLC software downloads at CNET Download.com, the most comprehensive source for safe, trusted, and spyware-free downloads on the Web.

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Breadwallet is the first 'decentralized' wallet app for iOS, eliminating server trust by communicating directly with the bitcoin network. Breadwallet is free to download and use from the iOS. Download breadwallet - bitcoin wallet for iOS to breadwallet is your on ramp to bitcoin - the future of money. Trusted by over 7 million users in over 170 countries, BRD is the most simple, secure cryptocurrency and bitcoin wallet. Use your bitcoin wallet to buy, sell, and exchange bitcoin (BTC, XBT), bitcoin cash (BCH), ethereum (Ether ETH), and ERC20 tokens. With over $7B USD in cryptocurrency under protection, the BRD Bitcoin Wallet app for Android is the simplest, most secure way to purchase.

Large amounts of bitcoins should not be stored on your Android device! If you want the most secure Bitcoin wallet then you will need to use a hardware wallet like the Ledger Nano X or TREZOR T.

You should always do research before downloading or installing any Bitcoin wallet.

Considered to be one of the most feature rich and private Bitcoin wallets on the market. Bitcoiners love the coinjoin features native to Samourai, however the Android wallet is currently in beta so may be unstable.

  • Full Segwit suport
  • Coinjoin functionality
  • Tor and VPN connection available
  • Connect to full node
  • May be unstable since this is app is in beta

Zengo is a new kind of cryptowallet where your private key is encrypted and stored on Zengo's server and accessed via your Android's faciel recognition technology. This makes it easier to restore your wallet if it's ever lost, but you must trust Zengo to be honest and competent at protecting your keys.

  • Easy for beginners
  • Backups and restoring are simple
  • No need to hide a seed phrase
  • Beautiful UI
  • Need to trust Zengo and Your device manufacturer
  • New key management method untested on the market
  • Closed source

Blockstream Green is one of the most unqique and secure Android Bitcoin wallets on the market. It uses a 2-of-2 style backup so if you ever lose your backup, you can use any two factor authentication to recover it. It's also super simple to set up and requires no registration other than an email address. You can even store your Liquid assets on Blockstream green now.

  • Easy to set up
  • Excellent fee estimation
  • Two-Factor multi-sig
  • Multilingual
  • Great support
  • Compatible with Ledger and Trezor Hardware Wallets
  • Some features are advanced for beginners
  • Using two-factor recovery can be confusing

Aqua Wallet

If the advanced features offered by Blockstream Green seem a little too complicated for you, Blockstream also just released a single-signature, non-custodial mobile wallet called Aqua. With Aqua, you can hold Bitcoin, Tether, and LBTC (Liquid BTC) just like Blockstream green. The main difference is there is no confusing multi-signature involved. Its just a simple, but well designed and easy to use mobile wallet for Bitcoiners.

  • Buy Bitcoin from within app
  • Non-custodial
  • Less complicated
  • Multilingual
  • Great support
  • No Multisig
  • Lacks some of the advanced features of Green
  • Not releasing until November for Android

Ledger Live is a little bit different than all the other wallet apps on this list. That's because you actually need a Ledger hardware wallet for it to work. This makes it by far the most secure Android Wallet app on this list, but it also means that using it isn't exactly 'free'.

WARNING

The google play store has more than one Ledger Live app listed. A few appear to be frauds. We have linked to the one Ledger itself has linked to, but if you want to be certain, we recommend going to Ledger's page where they link to their google play app page.

Breadwallet Download Free


  • Most secure
  • Great UI
  • Easy to use
  • All crypto in one dashboard
  • Compatible with Ledger Hardware Wallets
  • Must buy a Ledger hardware wallet to use
  • Confirming transactions can be confusing for new users


BRD is good for new bitcoin users who are just getting comfortable sending and receiving bitcoins. The UI is one of the best among Android Bitcoin and crypto wallets and you don't need to do any sort of sign up process to use it. However, some users report syncing issues and technical support is not known to be great.

  • Beautiful user interface
  • Utilizes industry-leading hardware encryption
  • No signup required
  • In app exchange built in
  • Minimal technical support
  • Syncing issues common
  • BRD aware of how much crypto you have (even if they dont know who you are)
  • Not compatible with any hardware wallets - less secure

Mycelium is one of the oldest and most trusted mobile Bitcoin wallet apps on the market. It's packed with features and even shows tickers and stats for traditional stocks so if that interests you, it may help you delete some other apps on your phone as well.

  • No Blockchain install
  • Super nodes makes connection to blockchain fast
  • One of the oldest and most trusted Bitcoin wallets
  • Many advanced features
  • Compatible with Ledger, Trezor and Keepkey devices.
  • More advanced wallet not ideal for beginners
  • Traditional stock dashboard may distract from crypto-only holders

Jaxx Liberty is a very popular bitcoin wallet with support for tons of different coins, an in-app exchange and native block explorers. The news panel that lets users know of the latest news regarding their coins is a nice touch. Some, though, have run into issues with various altcoins on Jaxx Liberty.

Breadwallet App Download

  • Easily manage multiple coins from a single interface
  • Informative news panel
  • Multi-chain block explorers native to app
  • In-app exchange built in
  • Supports over 80 coins
  • Only 12 word backup phrase
  • Many complaints of coding issues preventing sending coins
  • May support more coins than they can keep up with
  • Not compatible with any hardware wallets - less secure

Edge is a feature packed Bitcoin wallet for Android. It aims to make spending bitcoins a breeze, since it offers a Bitcoin merchant directory and the ability to buy gift cards from within the app! Also Edge takes advantage of your Android device by allowing you to use your fingerprint to unlock your wallet.

  • Edge does not know your holdings
  • Fingerprint unlock support
  • No Address Re-use
  • Built in exchange
  • Purchases through in-app exchange slow
  • Many reports of regular app crashing
  • Not compatible with any hardware wallets - less secure


If after reading this you’re converting to iPhone, then check out the best bitcoin wallets for iPhone!

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Chapter 1

How to Add Funds to Your Android Wallet


Now that you have chosen a wallet, let's transfer some funds into it.

In this brief walkthrough, we will show you how to add funds to your Android wallet


For you to add funds to your Android Wallet, you will need to find an exchange to buy crypto from then transfer it to your Android Wallet. Many Android Wallets have exchanges native to them (as seen above), however, these exchanges generally charge very high fees for the convenience, so it’s generally better to use a dedicated exchange, like Kraken or Coinbase.

You’ll need to choose an exchange that services your country and/or state. You can find a full list of exchanges sorted by country and preffered payment method on our exchange finder or you can see the most popular exchanges below:

  • Coinbase
    • High liquidity and buying limits
    • Easy way for newcomers to get bitcoins
    • 'Instant Buy' option available with debit card
  • Kraken
    • Great liquidity and low fees
    • Supports most countries
    • Trusted exchange, started in 2011

After you have bought your crypto, you’ll need to send it to your wallet. To do that, do the following:

1. Open your wallet and find an option to “receive”


2. Copy the address given


3. On your exchange where you bought your coins, select the “send” option.


4. There should be a field to input your wallet address copied in step 2. Paste it there.


5. Confirm you want to send your coins.

After that, you should receive a confirmation with a transaction ID of some kind. Here is what that might look like.

What a transcation ID looks like (the number starting with '804')


Chapter 2

Hardware Wallets: A Great Addition to Android Wallets


With funds in your Android wallet, its time to take your security to the next level.

The best way to do that is with a hardware wallet like a ledger or trezor


Android Wallets have the advantage of being free and easy to use. However, using an Android Wallet also poses many dangers to your coins.

Making sure your coins are not stolen through malware or ransomware is difficult to avoid on an Android Wallet.

Malware and Ransomware on your Android device can result in stolen coins

Hardware wallets are a great choice because they never connect to the internet. They store your private keys and sign transactions you send to them. You verify the transaction on the screen of the hardware wallet, and give the signed transaction to the Android device.

If you plan on storing large amounts of coins, we either recommend a hardware wallet exclusively or choosing an Android Wallet that allows you to hold your private keys on a hardware wallet.

Hardware wallets are a great way, then, to keep your coins safe if you want to use an Android Wallet. Instead of housing the private keys on your phone or tablet, you store them on your hardware wallet and the desktop just acts as a user interaface to the send and receive coins.

Unfortunately, Only Blockstream Green, Ledger Live, and Mycelium support hardware wallets, so options are limited if you are serious about taking your security seriously and using an Android Wallet.

COMPARISON

Ledger Nano X

  • SCREEN:
  • RELEASED: 2019
  • PRICE: $119

Ledger Nano S

  • SCREEN:
  • RELEASED: 2016
  • PRICE: $59

TREZOR T

  • SCREEN:
  • RELEASED: 2018
  • PRICE: $159

TREZOR One

  • SCREEN:
  • RELEASED: 2013
  • PRICE: $59


Chapter 3

Security Tips for Android Wallets


Now that we've got our Android wallet set up with a hardware wallet, let's explore a few additional points on security.

PINs, VPNs, and Steel wallets are great additions to our security stack.



Always set up a PIN to protect your funds

Make sure your Android wallet is protected by a 4 to 6 digit PIN number. Much your like bank account, most wallets have a PIN password that is the absolutel minimum when it comes to protecting funds you keep on your wallet. This prevents someone who has your phone from accessing the coins and sending them to another wallet that they own.

Setting up a PIN is a minimal requirement when it comes to mobile wallet security.

A PIN is not very strong security, but its good enough to prevent most people who have temporary access to your unlocked phone from taking your money.

Store your recovery phrase on something that is water and fire proof

All the Android wallets on this list support BIP39 seed words, otherwise known as ‘recovery phrases’. If your phone is lost, destroyed, or stolen, you can use this phrase to recover your funds to a new device.

However, most people write down these words on a piece of paper. When their home catches fire or is flooded, they lose the device and the backup to the elements. You should therefore consider a steel backup device like the Billfodl or Cryptosteel.

The Billfodl protects your funds from fire and flood.

DO NOT store a lot of coins on your Android wallet

We’ve mentioned this before, but its worth repeating: you should treat your Android wallet the same way you treat your real world wallet or billfold. You wouldnt carry every dollar you own in your pocket. You should also not hold all your coins on your Android wallet. You need to store them on a hardware wallet.

Use a VPN when transacting on an Android wallet

When making Bitcoin transactions on your Android wallet, it is a good practice to use a VPN. This prevents your ISP or hackers listening in on your connection from tying your IP address (and therefore your personal identity) to your Bitcoin transactions. It’s a good privacy practice that is cheap and easy to implement.

  • VPN
  • NordVPN
    • Special support for Malaysia, Nigeria, Singapore, South Africa
    • SEPA & credit card supported
    • Trusted exchange
  • Surfshark
    • Users claim fast speed from wide range of servers all around the world
    • Compatible with nearly any OS
  • ExpressVPN
    • Allows for Netflix
    • Users claim fast speed
    • Has apps for nearly any platform


Chapter 4

Frequently Asked Questions


Below are some of our most asked questions by readers.

If you're wondering about a topic on this page, odds are we have the answer here.


Is Blockstream’s Aqua Available on Android?

For now, Blockstream’s simple single-sig wallet called Auqa is not available on Android. It is coming though. For now, you will need to use Blockstream green.

What is Aqua?

Aqua is a single signature mobile only wallet, meaning anyone with access to your phone (either physcially or remotely) could steal your coins. In exchange for the increased risk, the wallet is easier to use.

Aqua is new, and if you have an iOS device, it can be a great addition to Blockstream Green Desktop. Take a closer look at it its features and look in the video below:



Does Blockstream Jade work with Blockstream Green on Android?

Yes, you can now use the Blockstream Green app on your Android device to set up your wallet on your Blockstream Jade hardware wallet!


  • Overview - Table of Contents

Without a Bitcoin wallet, you can’t send or receive Bitcoin payments. So before you get bitcoins, you’ll need to buy, download, or create a bitcoin wallet.

Are you a new Bitcoin user?

Or have you been using Bitcoin for a while and want to upgrade your security practices? Then keep reading!

Types of Wallets

There are many different ways to use Bitcoin and so there are many different types of wallets:

  • Online bitcoin wallets. Wallets that can be accessed on the web from any internet connected device.
  • Bitcoin hardware wallets. Physical devices designed to secure bitcoins.
  • Software wallets. Wallet applications downloaded to your phone, computer or tablet.
  • Paper wallets. Bitcoin private keys printed from an offline computer.
  • MWC - Learn something new like Mimble Wimble for scalability, privacy, anonymity and fungibility.

By the end of this article you’ll understand Bitcoin wallets and have a better idea about which type is right for you. Here are some factors to consider:

  • On the go? If you are making payments in person and not online then a mobile wallet like Copay (iOS & Android), breadwallet (iOS) or Mycelium (Android) is a must.
  • Frequency of payments. If you will need to make frequent payments then it will be best to keep your funds in wallet that is easy to use and accessible. Mobile wallets and desktop wallets are good options.
  • Amount. If you are dealing with large amounts of bitcoins you will need a secure wallet. Hardware wallets and secure offline wallets like Armory are good options.
  • Use combinations. Use a mobile wallet as your checking account, and a hardware or secure offline wallet as your savings account. Mix and match to find a combination that provides both security and accessibility.

Universal Wallets

Download

Atomic Wallet

Atomic Wallet is a fully decentralized, non-custodial multicurrency wallet, supporting over 300+ coins and tokens. Atomic provides an interface that allows you to not only manage, but also exchange and buy cryptocurrencies without using external services. The wallet has a built-in decentralized orderbook enabling users to exchange BTC, LTC and QTUM using the Atomic Swap technology. Atomic Wallet provides users with a 12-word mnemonic seed, so they get full access to their funds. All private keys are encrypted on an end device.

Copay

Copay is a Bitcoin wallet by Bitpay and available on iOS, Android, Windows Phone, Linux, Max OS X, and Windows. Because Copay is available on multiple platforms, it’s easy to use the same wallet or accounts across multiple devices.

Copay’s simple, clean user interface makes it a good choice for new Bitcoin users. Copay is also a good option for businesses due to a shared account feature, which requires a certain number of users to sign each transaction. Two co-founders, for example, could create a 2 of 2 wallet where both will be required to sign each transaction.

Hardware Wallets

Hardware wallets are small computers or smartcards built with the sole purpose of generating Bitcoin private keys offline. Hardware wallets securely sign transactions in the same offline environment.

COLDCARD Wallet

Coldcard is an easy to use, ultra-secure, open-source and affordable hardware wallet that is easy to back up via an encrypted microSD card. Your private key is stored in a dedicated security chip. MicroPython software design allows you to make changes. It goes above and beyond, by giving you the option to sign transactions fully Air-Gapped/Offline via MicroSD (PSBT-BIP174)

Coldcard is different than other wallet. No specialized software required. It accepts standard PSBT transaction (BIP 174) stored on an MicroSD card. No companion 'app' on your computer, works with the major wallets already (Electrum, and more to come). It's cheap! Simple packaging, plain design, no fancy boxes, no redundant cables. It's ultrasecure! Real crypto security chip. Your private key is stored in a dedicated security chip, not the main micro's flash. Easy back-up! MicroSD card slot for backup and data storage. This allows truly offline signing, by transferring the unsigned/signed transactions on sneakernet. Open source software design runs Micropython and you can change it.

Ledger Nano

The Ledger Nano is a smartcard based hardware wallet. Private keys are generated and signed offline in the smartcard’s secure environment. The Nano is setup using the Ledger Chrome Application. A random 24-word seed is generated upon setup and backed offline by writing it down on a piece of paper. In case of theft, damage or loss, the entire wallet can be recreated with the seed. A user selected PIN code is also assigned to the device to protect against physical theft or hacking.

The Ledger Nano may be used on any computer, or Android phones with Mycelium or GreenBits.

TREZOR

The TREZOR differs from the Ledger Nano in that it’s a very tiny computer rather than a smartcard. Private keys are still generated offline.

TREZOR also generates a 24-word seed upon setup. The TREZOR has its own built in screen where the seed is displayed and copied down during backup. Since the TREZOR is an offline device it offers extra security since the seed isn’t displayed on an online computer.

An additional passphrase can be added to the 24-word seed. This provides extra protection, since anyone who finds someone else’s 24-word seed is free to access the funds. If the optional passphrase is added, an attacker still wouldn’t be able to access funds without both the seed AND the passphrase. If the passphrase is forgotten, it cannot be recovered.

OPENDIME

The first Bitcoin Bearer Bond or called a Bitcoin Stick. Opendime is a small USB stick that allows you to spend Bitcoin like a dollar bill. Pass it along multiple times. Connect to any USB to check balance. Unseal anytime to spend online. Trust no one.

Acts like a read-only USB flash drive. Works with any computer, laptop, and phone.

A QR Picture and Text file inside contain Bitcoin address and support.

The private key is generated inside the device, and is never known to any human, not even you!

The Bitcoin world changes fast but Opendime is built on the fundamental Bitcoin features that have not changed in five years.

Give an Opendime to anyone and they don't need to worry that you can take back the funds later.

You have got the private keys in the device. This is physical Bitcoin as it was meant to be to just hand it to someone and they have got it.

Pass it on multiple times! Simple as a handshake. No miner fees, no confirmation delays.

Uses Bitcoin message signing, normal (non HD) bitcoin payment addresses and private keys in WIF format.

Ledger HW.1

The Ledger HW.1 is a more affordable version of the Ledger Nano.

Ledger Unplugged

The Ledger Unplugged is a credit card-size wireless hardware wallet. Private keys are generated offline. Transactions are signed on the device and sent to a mobile phone via NFC.

The Ledger Unplugged is ideal for everyday use, since the device fits perfectly into wallets and no OTG cable is required.

Software wallets make it easy to securely spend and receive bitcoins to a hardware wallet. The image above shows how Ledger's desktop wallet provides the interface to receive payments to a Ledger Nano or HW.1.
USB stick style software can makes it easy to load Bitcoin into hardware wallets without having to install any software or apps.

Online Bitcoin Wallets

Online Bitcoin wallets, or web wallets, store your private keys online. Wallets can only be accessed with a user-set password.

GreenAddress

GreenAddress is a multisig web wallet, with apps available for Chrome, iOS, and Android.

SpectroCoin

SpectroCoin is an all-in-one solution for Bitcoin. Services offered include a wide range of Bitcoin solutions, from exchange to Bitcoin e-wallet.

Mobile Wallets for Android

Atomic Wallet (Android)

Atomic Wallet is available on Google Play and fully optimized for Android devices. The app provides the option to seamlessly manage and exchange 300+ coins and tokens. Private keys are encrypted on users’ device and never leave it.

breadwallet (Android)

Breadwallet started out as the most popular wallet for iPhone, and now it is also available for Adroid devices running Android 6.0 or higher. The simplicity and easy-to-use security makes it a great place to start for users who are new to bitcoin.

Mycelium (Android)

Breadwallet download free

Mycelium is a favorite among experienced Bitcoin users. It’s an HD wallet with many advanced features, like support for hardware wallets TREZOR and Ledger, watch-only accounts, cold storage spending, and Tor.

Bitcoin Wallet

Bitcoin Wallet was the first Bitcoin wallet for Android. It’s simple, easy to backup, and connects directly to the Bitcoin network with SPV.

Airbitz

AirBitz is another Bitcoin wallet that’s great for everyday use. It’s integrated with Fold, meaning you can get 20% discounts at Starbucks from within the wallet.

Airbitz manages accounts with usernames and passwords, but doesn’t have access to your funds. This type of account creation is easier for less technical users who may have trouble backing up or understanding HD seeds.

GreenBits

GreenBits is the native version of GreenAddress. It’s fast, simple, and supports hardware wallets TREZOR and Ledger Nano/HW.1.

Mobile Wallets for iOS

breadwallet (iOS)

Breadwallet’s combination of simplicity and security has made it the most popular iOS wallet. iPhone users in search of their first Bitcoin wallet should find Breadwallet easy to understand.

Copay

Copay is available in the App Store. Click here for more details.

Airbitz

AirBitz is also available in the App Store.

Desktop Wallets

Desktop wallets are software wallets that are downloaded and installed on your computer. The desktop wallets below are available on Mac OS X, Windows, and Linux.

Paper Wallets

Paper wallets were the standard method of cold storage before hardware wallets were built. Paper wallets are private keys printed out on a piece of paper. If generated and printed with a secure, offline computer, paper wallets are secure cold storage.

The main problem with paper wallets is it can be inconvenient to create and print a new wallet each time you send funds to cold storage. However, it’s possible to bulk print paper wallets to save time and eliminate address reuse. Our cold storage guide explains step-by-step how to create a secure paper wallet.

Best Practices

Bitcoin lets you control your money, meaning you are responsible for both your money’s security and your financial privacy. Here are some steps you can take to ensure your privacy and security:

Control your private keys

Services like Coinbase and Circle offer “Bitcoin wallets”, but in reality control your private keys. It’s best to use a wallet where you control your private keys. This is the only way to have full control of your funds and not have to rely on third parties for security.

Protect your privacy

Each time you request blockchain data from a wallet, the server may be able to view your IP address and connect this to the address data requested. Each wallet handles data requests differently. If privacy is important to you, use a wallet that downloads the whole blockchain like Bitcoin Core or Armory. Tor can be used with other wallets to shield your IP address, but this doesn’t prevent a server from tying a group of addresses to one identity. For more information, check out the Open Bitcoin Privacy Project for wallet rankings based on privacy.

Don’t reuse addresses

Most Bitcoin wallets today automatically create a new address for each transaction. Since all Bitcoin transactions are public, address reuse makes it easy for others to group transactions and understand which payments are connected to one identity.

Use different wallets for different sums of money

Just like you don’t walk around with your savings account as cash, there are different Bitcoin wallets that should be used depending on how much money is being stored or transferred. Secure wallets like paper wallets or hardware wallets can be used as “savings” wallets, while mobile, web, and desktop wallets should be treated like your spending wallet.

Create multiple secure backups

Users should create multiple backups of their wallets. Backups should be kept in separate physical locations in the case of fire or water damage. Paper wallets can be laminated or written in metal for extra protection.

How to Store Bitcoins

Earlier it was mentioned that there are four types of Bitcoin wallets: online wallets, hardware wallets, software wallets, and paper wallets. These four categories can be broken down further into different kinds of storage and security:

Hot Wallets

Hot wallets refer to Bitcoin wallets used on internet connected devices like phones, computers, or tablets. Because hot wallets run on internet connected devices there is always a risk of theft. Think of hot wallets like your wallet today. You shouldn’t store any significant amount of bitcoins in a hot wallet, just as you would not walk around with your savings account as cash.

If only used with small amounts, hot wallets should be used for your everyday Bitcoin needs. One may, for example, want to keep $200 worth of bitcoins in a hot wallet for spending, with $10,000 locked away in cold storage.

Custodial Services

Although often called Bitcoin wallets, services like Coinbase and Circle aren’t true Bitcoin wallets. Customers private keys are held by these third party services, meaning users don’t really have control of their money.

As Bitcoiners often say: “if you don’t control the keys, you don’t control the coins”. Mt. Gox is an extreme example, but one that illustrates the importance of holding private keys. Gox was the first and largest Bitcoin exchange up until 2013. Thousands of users stored more than 800,000 bitcoins in their Gox accounts.

At the time, one may have claimed to have 1,000 bitcoins in a Gox account. While true at the time, as soon as Mt. Gox claimed to have been victim of theft users with bitcoins in their accounts were left empty handed.

Services like Coinbase and Circle may in fact use good security practices and there’s a chance your bitcoins are safe. But by storing bitcoins with a third party you are always taking on additional risk.

Cold Storage

Cold storage is achieved when Bitcoin private keys are created and stored offline. Private keys stored offline are more secure since there is no risk that a hacker or malware could steal your coins.

There are three ways to create cold storage: paper wallets, hardware wallets, and software wallets run on offline computers. Think of cold storage as your savings account. Use it to securely store bitcoins that you don’t plan to spend.

Multisignature Wallets

Multisignature wallets like Copay make it easier to share control of bitcoins between multiple parties. If created offline, multisig can also make cold storage more secure.

Multisignature wallets require multiple parties to sign transactions in order for funds to be spend. In a 2-2 wallet, for example, both parties must sign a transaction. In a 2-3 multisig wallet, two of the three co-signers must sign each transaction.

Armory Multisig: Armory offers a Lockbox feature that requires any amount of up to seven co-signers to approve shared transactions. A Lockbox is created by one party who adds additional public keys as co-signers. This solution provides a mix of flexibility and security for personal use or organizations.

Armory’s fragmented backups is another useful feature. Instead of requiring multiple signatures for each transaction, fragmented backups require multiple signatures only for backups. A fragmented backup splits up your Armory backup into multiple pieces, which decreases the risk of physical theft of your wallet. Without a fragmented backup, discovery of your backup would allow for immediate theft. With fragmented backup, multiple backup locations would need to be compromised in order to obtain the full backup.

Here's a look at some everyday use cases for multisig:

2-2 Wallet: Two business partners work together at a startup. They create a 2-2 multisig wallet so that no funds can be spent without the permission of both founders. If one tries to create a transaction, the other partner will be required to sign off on the transaction before money can be moved.

2-3 Wallet: A 2-3 multisig wallet could be used to create secure offline storage with paper wallets or hardware wallets. Users should already backup their offline Bitcoin holdings in multiple locations, and multisig helps add another level of security. A user, for example, may keep a backup of a paper wallet in three separate physical locations. If any single location is compromised the user’s funds can be stolen. Multisignature wallets improve upon this by requiring instead any two of the three backups to spend funds--in the case of a 2-3 multisig wallet. The same setup can be created with any number of signatures. A 5-9 wallet would require any five of the nine signatures in order to spend funds.