How to Set Up a MultiSig Cold Wallet?

Created by Muskan Bhandari, Modified on Wed, 3 Jan at 11:19 AM by Muskan Bhandari

Before creating a MultiSig cold wallet, you need to link your hardware device by following the Link a Hardware Device guide.

Once the device is linked to the system, you may proceed to create a MultiSig Cold Wallet by following the below instructions:

1️⃣ To begin the wallet creation process, navigate to the "Wallets" tab within the Vaults interface, or click on the "New Wallet" option under the profile dropdown menu.

2️⃣ Input a name for your new wallet and select the desired protocol.

3️⃣ In the "Signer Type" section, select "Multi Sig" from the available options.

4️⃣ Under the "Group Members" section, enter the configuration settings for your multi-sig wallet; you can choose a predefined setting or create a custom one.

For optimal security, it's recommended to opt for a 2 of 3 configuration or higher.

5️⃣ Click "Next" to proceed to the member selection section, where a dropdown will display members who have already linked their devices.

Select the members who will be authorized to sign transactions for this wallet.

6️⃣ Click "Next" to review your selections and confirm the details.

Note: For EVM-based multi-sig wallets, the gas station will be added as the final signer, so if your configuration is 2 of 3 it will be auto-converted to 3 of 4, with the gas station being the final signer and the payer for all transactions fees.

By adhering to these guidelines, you can successfully establish a cold wallet with multi-signature capabilities, thereby elevating the security of your digital assets.

Next, dive into our guide to learn how to initiate a multi-sig transaction.

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