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I have a hardware wallet, a seed, and a specific private key.

I want to create a 2-of-3 multisig using these 3 items. So the only option left is the option of creating a multisig using just private keys, but it's only available on bitcoin core, I'd like to do this without having to download the entire blockchain, and be able to spend it easily in the future. Electrum doesn't allow me to import just a private key, then there's the issue of getting it out of the hardware wallet. How can I do this?

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2 Answers 2

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Using a tool like bx (Bitcoin Explorer) from Libbitcoin. This tool allows you to perform Bitcoin operations directly from the command line.

  1. Install Libbitcoin BX:

    • You can find the installation instructions on the Libbitcoin GitHub repository: Libbitcoin GitHub.
  2. Create Multisig Address:

    • Assuming you have three private keys (privkey1, privkey2, privkey3), you can use bx to create a 2-of-3 multisig address:
      bx seed | bx hd-new | bx hd-private -i 44 | bx hd-private -i 0 | bx hd-private -i 0 | bx hd-private -i 0 | bx hd-private -i 0 | bx hd-public | bx hd-to-ec | bx ec-to-wif
      
  3. Get Public Keys:

    • Obtain the public keys corresponding to the private keys:
      bx ec-to-public -u [private key]
      
  4. Create Multisig Script:

    • Use the public keys to create the multisig script:
      bx script-encode [public key 1] [public key 2] [public key 3] 3 checkmultisig
      
  5. Get Multisig Address:

    • Generate the multisig address from the script:
      bx script-to-address -v [network version] -s [multisig script]
      

Replace placeholders like [private key], [public key 1], [network version], etc., with your actual values.

Please note that this is a simplified guide, and it's crucial to take precautions when dealing with private keys. Always make sure to perform these operations in a secure environment and keep your private keys confidential.

Additionally, it's highly recommended to test the process with a small amount of Bitcoin before using it with significant funds.

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You can use one of the API however its not recommended.

Example: Caravan has the option to use blockstream.info API or local bitcoind.

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