Create your first multi-signature wallet on CoinEx Vault from scratch and learn commonly used basics.

1. What You Will Learn

• You will create group multi-sig wallets on CoinEx Vault
• You will learn how to co-manage a multi-sig wallet with group members
• You will learn how to transfer assets with CoinEx Vault
• You will acquire the basic concepts related to the CoinEx Vault multi-sig wallet

2. Getting Started

• Required Devices

CoinEx Vault protects your large assets with a “multi-signature + cold wallet” mode that requires both a PC device (Windows or MacOS) and a mobile device (Android or iOS).

• Initial Installation and Configuration

Mobile Device - Download and install the App

• For the safety of your wallet, it is recommended to install the App offline if you are using an Android mobile device>>
• You can also download it online

For iOS mobile device: Download from App Store >>

For Android mobile device: Download from Google Play >>

Or scan the code to download the APK from the official website:

PC Devices - Visit the official website

Visit the official website https://vault.coinex.com from the Web end for the next step.

3. Get Your Wallet and Account Ready

• Create or Import Your Wallet with the App

If you don't have a wallet yet, create a wallet >> 

If you already have a wallet, import a wallet >>

Later, you will use the App to approve or sign authorization for requests initiated from the official website.

To ensure the security of your wallet, please always keep your mobile device disconnected from the Internet. Also, please keep mnemonic words in a safe place, as it is the only way to recover your wallet assets and cannot be retrieved if lost.

• Connect Wallet and Register Your First CoinEx Vault Account on the Web

Choose “Connect Wallet” on the official website, connect your App wallet to the official website via Bluetooth, QR code, or USB, and bind your email address to the account, then complete the registration and log in to your CoinEx Vault account >>

In the following, you will use the official website to initiate transactions or change settings, and cooperate with the App authorization to complete the operations.

• Receive Cryptos with Personal Wallet

After connecting (logging in) to your wallet, you can find your personal wallet in the sidebar on the homepage of the official website. Receive cryptos with personal wallet >>, complete the first deposit to start your personal wallet asset management.

If you need to co-manage assets on the smart contract-supported networks with other members, please ensure your personal wallet has a sufficient balance before creating and activating a group multi-sig wallet.

Note: Creating a group means having a multi-signature wallet that is co-managed by the group. Before managing the assets on different networks in the multi-sig wallet, you are required to activate the network and pay the transaction fee on the chain (only networks that support the smart contract are required to pay); the transaction fee will be deducted from your personal wallet, so please make sure that there is a sufficient balance in your personal wallet.

4. Get the Group (Multi-Sig Wallet) Ready

• Create and Set Up a Group

Group multi-signature wallet is suitable for teams to jointly manage a large amount of assets. The user who creates a group will be the group administrator by default, and the administrator can assign the role to other members of the group after the group is created successfully.

Click the “Create Group” button on the sidebar of the website's homepage, set the name, description, network, approval process for your group, and invite others to join the group via email to complete the group creation >>

• Activate the Multi-Sig Wallet

Multi-sig wallet supports asset management for multiple networks. If your group needs to use one or more of them, please activate the multi-sig wallet after creating the group.

If the network to be activated supports smart contracts, such as ETH, BNB, TRX, CET, etc., the transaction fees for on-chain transactions need to be deducted from your personal wallet for activation. If you do not have enough assets in personal wallet, please receive cryptos with personal wallet >>

If the network to be activated does not support smart contracts, such as BTC, DOGE, LTC, etc., it can be activated directly without deducting the transaction fee on the chain (the details are subject to the interface prompt).

Click on the sidebar to enter the group, find the network to be activated in the list, choose “Activate Multi-sig Wallet”, follow the guide to fill in and submit the multi-signature settings.

5. Complete Your First Multi-Sig Transaction

• Initiate a Transaction

Find the asset you want to transfer in the group, click “Send”, and enter the amount, address, and description of the transfer. Then submit the transfer request after checking the correctness, and sign with the App to complete the authorization.

• Approve

According to the group's approval process settings, the requests shall go through the signing of approvers, and after all the approvers have agreed, the requests can proceed to the next step.

• Collect Multiple Signatures

According to the settings of multi-sig mode, group members can find the request pending signatures in “Requests”, and complete the signing together with the official website and the App.

• Broadcast the Transaction

After the required number of signatures is met, the requester can find the transfer request in the Requests list on the official website and click “Broadcast.” After confirming the broadcast time limit and the transaction fee, click “Confirm Broadcast” and use the App cold wallet to sign the request.

For details, please refer to send cryptos from multi-sig wallet >>

6. Concepts

• Mnemonic Phrase

The mnemonic phrase is the only way to recover wallet assets; once lost, it cannot be retrieved. Whoever owns the mnemonic is in control of the wallet's assets.

Mnemonic phrases usually consist of 12, 15, 18, 21, or 24 words and must be kept in order when backing up. If the order is incorrect, the wallet assets cannot be restored, and if the mnemonic phrases are forgotten or lost, the assets will be permanently lost.

• Address

A cryptocurrency address is a string of letters and numbers used to receive and send cryptocurrency, similar to a bank account number. In a blockchain system, each cryptocurrency may have a different address format, and each address is unique and can be used to identify a user's wallet.

• Multi-Sig Wallet

A multi-sig wallet is a cryptocurrency wallet that requires multiple signatures to authorize transactions. The design of multiple signatures prevents assets from single control, which greatly enhances the security of asset management, and is especially effective when large sums of money are involved or when multiple parties are co-managing assets.

• Multi-Sig Mode

CoinEx Vault introduces multi-signature mode to facilitate teamwork in managing large assets, allowing users to customize the required number of multiple signatures. Multi-signature mode is presented in the form of “m/n”, meaning that there are n members co-managing assets, and as long as at least m of them have signed the request, it means that the transaction is allowed.

• Accident Protection

CoinEx Vault provides accident protection for multi-sig wallets in case the transaction requests cannot proceed properly. When accident protection is turned on, if the number of inactive days of a multi-sig wallet > accident protection duration, accident protection will be triggered, and thereafter the number of signatures required will be reduced by 1 every 3 days until it reaches 1. If not turned on, it will never be triggered.

• Historical Wallet

CoinEx Vault supports modifying the multi-sig mode. If the modified mode is for a BTC network, then after resetting, the receiving address corresponding to the crypto will be updated, and the old address will be moved to the “historical wallet”, which is not recommended for further use, so please transfer your assets to the new address in time.

Learn more concepts >>

Next, let's start your asset management

For more tutorials and FAQs, please check the Help Center >>