When you create a multi-sig wallet, three keys are created the moment you create it.One of these is controlled by a Coinone / Bitgo and controlled by the other two.Information about these two keys will be emailed to you. We call this information KeyCard.The information in this KeyCard is encrypted with your Passcode so that no one can open your multi-sig wallet with just one KeyCard.Therefore, your passcode is especially important, and if you lose both Passcode and KeyCard, you will not be able to find your beat coin.One of the two keys is associated with your passcode, so if you enter Passcode on the coin site, one of the two keyswill be unencrypted and you will be able to open it with another key you have in your coin circle.