Accounting For Crypto Assets

Multisig wallets require multiple signatures (multiple wallets approving the transaction) to sign or confirm transactions and can be secured with either a hot or cold storage wallet.

Show Notes

Multisig wallets require multiple signatures (multiple wallets approving the transaction) to sign or confirm transactions and can be secured with either a hot or cold storage wallet. This method provides for much greater security as there is no one single point of failure. A multisig wallet secured via cold storage is the gold standard for security with crypto assets, but this protection comes at the expense of convenience. This type of storage should be employed for large asset balances that are kept for longer time frames.

Creators & Guests

Host
Taylor Zork CPA, MBA
Co-Founder CryptoCFOs
Editor
Brandon "Bova" Santiago
Co-Founder CryptoCFOs

What is Accounting For Crypto Assets?

The AccountANTs, Tax Professionals, and Astute Investors Guide To Blockchain, DeFi, NFTs & more. Visit: www.CryptoCFOs.com to join our community and learn more!

*This podcast is NOT financial, tax, accounting, or legal advice. The opinions and commentary herein are intended to facilitate discussions only, and may not be relied upon for accuracy; you must conduct your own research or engage with and seek the advice of your accounting/ tax professional and attorney as necessary.