TotalSig makes managing BSC multisigs simple and easy. There's no need to spend hours searching for new solutions and grappling with complex processes when you can achieve it with just one click. Binance Smart Chain multisigs are finally here, enhancing your team's business operations with security and convenience.
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How to Use Binance Smart Chain MultiSig
Binance Smart Chain MultiSig Fees
Operation costs
TotalSig
0.06 USD 97%!
Other multisigs
1.83 USD
Totalsig reduces operational costs by eliminating the need for smart contract deployment. Previously available only to large institutional players, Totalsig now makes MPC technology accessible to everyone.
Why There is Price Difference?
Unlike other solutions that rely on smart contracts, known for their complexity and high costs, TotalSig employs MPC multisigs. This newer standard, embraced by leading institutional players, significantly reduces multisig expenses and enhances the user experience.
MPC multisigs on the Binance Smart Chain network are more cost-effective compared to traditional smart contract multisigs. This is because they require only one signature per transaction, bypassing the expensive deployment of a smart contract which typically incurs a large network fee.
Why Use MultiSig Wallet
Increased Security
Traditional wallets rely on a single access point, which, if breached, leaves funds vulnerable. Multisig wallets elevate security, necessitating multiple private keys for transactions. A fortified barrier, it substantially reduces the chances of unauthorized access and fund theft.
Risk Mitigation
In traditional single-key systems, if a key holder is unavailable, it can disrupt operations. Multisig addresses this risk. With multiple key holders, transactions proceed without delay, ensuring smooth business operation.
Shared Ownership
In instances where assets need collective decision-making, multisig wallets shine. By distributing control among several parties, it mandates consensus for transactions, ensuring that no single entity holds unilateral power, fostering collaboration and mutual trust.
Decentralized Organizations
Embracing the ethos of decentralization, multisig wallets cater perfectly to decentralized autonomous organizations (DAOs). With no central authority, these wallets empower collective management, ensuring that decisions and transactions echo the shared values and visions of its members.
Wallet Features
Free multisig wallets
TotalSig supports BNB, the native cryptocurrency of the Binance Smart Chain network. Transactions, whether transferring BNB, USD stablecoins, or executing smart contracts, require BNB to cover the transaction fees.
Token Support
Our multisig wallet offers support for the BEP20 and BEP721 standards, which are the predominant token formats within the Binance Smart Chain network. This ensures that any tokens adhering to these standards, whether received as part of a transaction or a smart contract execution, will seamlessly appear in your wallet.
NFT Support
TotalSig supports NFT applications, allowing you to create a treasury with your friends or business partners to easily store your Binance Smart Chain NFTs.
Best fee calculator
TotalSig provides a premium fee calculator designed to ensure you pay the least possible fees. Unlike other wallets that might place a lower priority on fee optimization, leading to possible overpayments by two to three times, TotalSig prioritizes cost efficiency, especially beneficial for Binance Smart Chain transactions.
About Binance Smart Chain
What is Binance Smart Chain?
Binance Smart Chain (BSC) is a blockchain platform developed by the Binance cryptocurrency exchange. It operates in tandem with Binance's original Binance Chain but adds smart contract functionality and compatibility with the Ethereum Virtual Machine (EVM), enabling it to support Ethereum-based applications and tokens. Launched in September 2020, BSC aims to provide a high-speed, low-cost alternative to Ethereum, especially for DeFi applications and users looking for more accessible transaction fees.
Binance Smart Chain ecosystem
urposeBSC's mission is similar to that of Ethereum in that it seeks to empower developers to build decentralized applications (DApps) and smart contracts in a decentralized environment. However, BSC emphasizes scalability and low transaction fees, catering to a broader range of applications and users, particularly those concerned with the high costs and slower speeds associated with Ethereum's network.
Coins
Binance Coin (BNB) is the native cryptocurrency of both Binance Chain and Binance Smart Chain. In the BSC ecosystem, BNB is used to pay for transaction fees, smart contract executions, and validator staking, serving a pivotal role in maintaining and operating the network.
Types of Binance Smart Chain Wallets
The criteria for choosing the right Binance Smart Chain wallet mirrors that of Ethereum, focusing on the balance between security and convenience. However, wallet choices may lean towards those that support the BSC network specifically.
Hardware wallet
Hardware wallets compatible with Binance Smart Chain, like Ledger or Trezor, provide top-tier security by storing BNB and other BSC-based tokens offline. These devices are crucial for users with substantial investments seeking to protect their assets from online threats.
Web wallet
Web wallets like Binance Chain Wallet or MetaMask (configured for BSC) offer convenience and easy access. They are ideal for users interacting regularly with BSC DApps or those making frequent transactions. Despite their convenience, the inherent risks of online storage and potential centralization concerns necessitate careful consideration and often, additional security measures.
Desktop wallets
Desktop wallets that support BSC, such as Trust Wallet (desktop version) or Binance Chain Wallet, provide a secure and accessible means to manage BNB and BSC tokens. These wallets keep private keys on the user's computer, offering a balance of security and convenience, especially when the device is kept offline when not in use.
Frequently Asked Questions
Simply donwload the app an follow the onboarding process to create or connect your wallets.
MPC (Multi-Party Computation) multisig wallets utilize cryptographic protocols to enable multiple parties to collaboratively create and manage private keys without ever sharing the complete key. This allows for secure transaction signing without exposing sensitive information.
Our platform utilizes MPC multisig and advanced security features to protect your assets.
We support multiple blockchains including: Bitcoin BTC, Ethereum ETH, Tron TRX, Solana SOL, Litecoin LTC, BNB Smart Chain BNB, Tether USDT, Dai token DAI, NFT NFT, Polygon MATIC, Arbitrum ARB, Avalanche AVAX, Bitcoin Cash BCH, Dogecoin DOGE, Optimism OP. See full list of supported coins and tokens here