Bare multisig refers to a type of cryptocurrency wallet that requires multiple private keys to authorize a transaction. Unlike more advanced setups, it doesn’t incorporate additional features like timelocks or complex spending conditions.

With bare multisig, a set number of participants hold individual keys, and a predetermined threshold must be met to execute a transaction. For example, in a 2-of-3 multisig, any two of the three keyholders can sign off on a transaction to approve it. This setup enhances security by distributing control, reducing the risk of theft or loss if one key is compromised.

Bare multisig can be particularly useful for joint accounts, family wallets, or businesses where multiple approvals are necessary. Its simplicity makes it easy to understand and implement, while still providing an effective layer of security. However, managing the keys is essential, as losing a required key might prevent access to the funds.