Sending to Multiple Ethereum Addresses: A Step-by-Step Guide
Ethereum’s multisignature feature allows you to send funds to multiple addresses, enabling secure and decentralized transactions. In this article, we’ll explore how to use Ethereum’s multisignature feature and which wallets support it.
Understanding Multisignature Transactions
Multi-sig transactions involve sending a single payment to multiple recipients, each of whom signs the transaction with their own private key. This adds an extra layer of security, making it more difficult for attackers to intercept or alter the funds. The recipient, who receives the signature from each signer, is responsible for verifying the transaction and ensuring its validity.
Paying Fees to Multiple Addresses
To pay fees to multiple addresses, you can use a single Ethereum wallet that supports multisignature. One such wallet is Ledger Live, which offers a range of wallets compatible with multisignature transactions.
Other notable wallets that support this feature include:
- MetaMask
- Wallet of trust
- Binance wallet
Desktop wallets that support multi-signature
Here are some desktop wallets that support multisignature Ethereum transactions:
- Ethereum Classic: A fully resale version of the original Ethereum, supported by multiple desktop wallets.
- Steem
: A decentralized social network focused on content creation and community building, supporting multisig transactions through its Steem wallet.
- KuCoin Wallet
: A popular cryptocurrency trading platform that offers a range of compatible desktop wallets.
Mobile wallets that support multiple signatures
Here are some mobile wallets that support multi-sig Ethereum transactions:
- MetaMask: The official Ethereum wallet app for Android and iOS, supporting multisig transactions through its Web3 integration.
- Trust Wallet: A cryptocurrency management app with a built-in wallet that supports multisig transactions.
- Binance Mobile: A mobile version of Binance’s popular trading platform, which offers a range of compatible wallets.
How to Send to Multiple Addresses
To send to multiple Ethereum addresses using your chosen wallet, follow these steps:
- Create a new transaction on the blockchain by selecting “Send” from the transaction menu.
- Select the recipient addresses and the amount you want to send.
- Select multisig wallets for each address. You will need at least two wallets that support multisig transactions: one wallet for the sender (you) and one wallet for the signer.
- Set up a network of wallets that can handle multiple signers. This may involve setting up a network of separate wallets with different public addresses.
Tips and Considerations
- Ensure that all signer wallets are compatible with the same blockchain version (e.g. Ethereum 1.x or 2.x).
- Choose wallets that support multisig transactions with sufficient storage capacity to handle multiple signatures.
- Use strong passwords and multi-factor authentication for all wallet accounts to prevent unauthorized access.
By following these steps and using the appropriate wallet, you can efficiently send to multiple Ethereum addresses without paying fees for each transaction.
