Family MultiSig for shared custody
Family MultiSig lets couples and families hold crypto together, so no single lost phone or forgotten seed can put the household's savings at risk. With accident protection, the people you trust can still recover the funds if something happens to one of you.
Who is this for?
Family MultiSig is for households sharing long-term savings: a couple protecting a joint reserve, parents and adult children coordinating family funds, or anyone who wants a partner to be able to recover the money if they lose their phone. It blends everyday shared control with a safety net for accidents.
Common family setups
| Plan | How it behaves | Good for |
|---|---|---|
| 2-of-2 | Both must sign; accident protection lets one recover after inactivity | A couple sharing one reserve |
| 2-of-3 | Any two of three sign | A couple plus a trusted third party |
| 3-of-4 | Any three of four sign | A larger family or added redundancy |
Accident-protection plans work two ways depending on the chain: on EVM chains via an on-chain accident-protection contract; on BTC/TRON/SOL via a watch-only assisting participant that can only join after the inactivity period — so a 3-of-4 vault is created as 3-of-5. Ownbit never moves funds alone.
How do I set up a family MultiSig?
Each family member installs Ownbit
Everyone creates a MultiSig wallet and shares their wallet ID with the family.
Create the MultiSig
One person creates it, selects the network and the plan (e.g. 2-2 or 3-4), and chooses Accident Protection as the recovery strategy.
Add family members and deploy
Add the others by wallet ID; once everyone joins, deploy and deposit funds.
Stay active
Each participant stays active by signing occasionally or tapping Stay Active, which resets the ~416-day accident-protection timer.
Limits and trade-offs
- Accident protection reduces the required signatures only after a long inactivity period (~416 days) — it's a safety net, not instant access.
- Everyone still needs to protect their own mnemonic backup.
- The exact per-chain behaviour differs (contract vs assisting participant); confirm the plan matches your chain before funding.
Frequently asked questions
Can my partner recover our crypto if I lose my phone?
Yes, with Accident Protection MultiSig. If you become inactive for the preset period (~416 days), the remaining participants can recover or spend the funds without your signature.
Do we have to share a seed phrase?
No. Each family member keeps their own separate seed. MultiSig combines independent keys, so no one ever needs to reveal their mnemonic to anyone else.
What is the 416-day timer?
It's the inactivity period after which accident protection treats a participant as unavailable and reduces the required signatures. Signing a transaction or tapping Stay Active resets it.
Last updated:
Download Ownbit
Install the app, then set up a cold wallet or MultiSig for the workflow you need.