π| Tutorial on Creating a Multisig Wallet with KeyPal Hardware Wallet
KeyPal Academy
Use cases:
1.Used for managing assets by multiple people to prevent individuals from misappropriating assets.
2.Through multisig, assets can be managed by multiple addresses for enhanced security.
3.Other security use cases include.
Let's take a look at the next diagram and first understand the general process of using KeyPal hardware wallet with multi-signature.
Multi-signature wallet creation:
Open the TokenPocket
enter the app and click on the "plus sign" on the top right corner of the home page, as shown in figure (1).
Enter the network selection page, and click on "Multi-signature Wallet" as shown in figure (2).
Select "Create Multi-signature Wallet" as shown in figure (3).
Enter "Select Multi-signature Network" (In the multi-signature wallet, selecting multi-signature network means choosing which blockchain network to use as the basis for multi-party signature.
Different blockchain networks generate different network fees for multi-signature wallets).
We will take Binance Smart Chain as an example and select "Create Multi-signature Wallet" on the Binance Smart Chain, as shown in figure (4).
3.Enter the "Multi-signature Creation Process", read and familiarize yourself with the creation process, then click on "Next" as shown in the figure (5).
Let's start creating the multi-signature wallet.
As shown in figure (6), you can name your multi-signature wallet - we recommend naming it "KeyPal Multi-signature Wallet".
Just like creating a regular wallet, you can customize the name and it will not be recorded on the blockchain.
As shown in figure (7), you can add management wallet addresses.
Multi-signature wallets are managed and controlled by multiple wallet addresses, with a maximum support of 30 management wallet addresses - this can be understood as the "threshold setting" for multi-signature wallets.
Management wallet addresses can be flexibly set up for enterprise or team asset management or personal diversified use.
As shown in figure (8), "Minimum Confirmations Required" can be understood as weight.
The difference is that for EOS or TRON, a single address threshold can be set to greater than or equal to 1, while for EVM chains, the single address threshold can only be 1.
We recommend setting the minimum confirmation signatures to a value greater than 2 to balance security and convenience.
As shown in figure (9), the fee details include on-chain miner fees (gas) + payment wallet address.
The multi-signature solution for EVM chains is actually a smart contract, so creating a multi-signature wallet requires a certain amount of gas (miner fee), which is calculated based on the blockchain.
Click on the imported wallet address in the wallet selection to pay for the gas (miner fee) during wallet creation.
After setting up, click on "Confirm" as shown in figure (10) to see the prompt for creating a multi-signature wallet.
You can click on the link to the Ethereum blockchain explorer to view the relevant creation information.
4.How to add a KeyPal hardware wallet address to a multi-signature management wallet?
οΌThis assumes that you have already created a mnemonic phrase for your KeyPal hardware wallet and have connected it to the app via Bluetooth to "Bulk Add Wallets".οΌ
"Click on the blue text above to go to the tutorial or visit the following website to access it."
a.KeyPal Hardware Wallet Activation (Mnemonic Creation):https://keypal.gitbook.io/zh-cn/keypal-tutorial/2.User's-tutorial/Graphic-tutorial/2.1Creat-a-new-wallet
b.How to Bulk Add Wallet Addresses on KeyPal Hardware Wallet:https://www.keypal.pro/#/academy You can also access tutorials through the KeyPal Academy section on the homepage of the official website. (Find it in the navigation bar under "Learn".)
[Choose the method of adding]
As shown in the figure (11):
a. Scan QR code
b. Choose the method of wallet selection.
Add the three addresses of the hardware wallet to "manage wallet settings" in sequence, as shown in the figure (12), and set the minimum number of signatures to 2/3.
After verifying that the address is correct, click on "confirm" as shown in the figure (13).
Note that the KeyPal hardware wallet address can be found in the "Wallet List" on the homepage, with a suffix of KP_XXXX.
(To confirm whether the mnemonic managed by the current KeyPal hardware device matches the current address, please click on "Receive" for that wallet on the homepage and verify it in the bottom right corner.)
At this point, you have successfully used the KeyPal hardware wallet to participate in creating and managing a multi-signature wallet.
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