Multisig Wallets require multiple signatures for transactions, enhancing security by distributing control and reducing the risk of unauthorized access or theft. Types include 2-of-2, 1-of-2, and 2-of-3 multisigs with different levels of security. Benefits include enhanced security, reduced risk of theft, shared control, distributed trust, compliance facilitation, and governance enhancement. However, disadvantages include technical complexity, slower transaction processes, key loss risk, and limited support on some platforms. Use cases in crypto industry, DeFi, escrow protection, collaborative ownership, and more showcase the security and trust enhancements provided by multisig wallets.