Create a New Multisig (Nova Spektr)

How to create a new multisig wallet using Nova Wallet and Nova Spektr

Nova Wallet lets you manage your existing multisig wallets. To create a brand new multisig, we recommend that you use Nova Spektr. Nova Spektr is an application specifically designed for managing multisig and proxy accounts and is developed by the Novasama Technologies team.

The multisig creation process takes only a few minutes in Nova Spektr. Once a multisig is created, you can create and sign multisig transactions directly from Nova Wallet.

If you already have an active multisig, it will automatically be detected by Nova Wallet. An active multisig has to have at least one transaction created.

Pair Nova Wallet with Nova Spektr

1. Go to the Nova Spektr web application on your computer.

2. Under Add your wallet, select the Nova Wallet option. You will see a QR code appear.

3. On your Nova Wallet device, select the QR code scanner which is located at the top left of the Assets screen.

4. Allow Nova Wallet access to your device’s camera if prompted.

5. Scan the QR code using your Nova Wallet device.

6. On your Nova Wallet device, select Allow to pair your Nova Wallet with Nova Spektr.

7. Input the name for your wallet in Nova Spektr and select Continue.

8. Your Nova Wallet is now paired with Nova Spektr!

Add contacts and create multisig in Nova Spektr

1. In Nova Spektr, navigate to the Address Book section of the left menu.

2. Select the Add contact button at the top right of the screen.

3. Input the name and account address of your fellow signatories and select Add contact. Repeat as many times as necessary to add all signatories of your future multisig. The names are only used locally and not broadcasted into the network.

4. Select the account dropdown at the top left of the screen.

5. Select Add, and then select Multisig.

6. Input the name for your multisig and select the primary network that you want to use the multisig on. The name is only used locally and not broadcasted into the network.

Ensure that your account has the required amount of tokens to cover any required deposits and network fees.

1. Select Continue.

2. Select the Address field and select your wallet.

3. Select Add new signatory and select your contact. Repeat as many times as necessary for your multisig.

4. Select the threshold for your multisig. This is the required number of signatories who need to sign a transaction for it to be approved. You cannot change this number later without creating a new multisig.

5. Your multisig has now been created! If you switch to your multisig wallet in Nova Spektr, you will see a pending operation. This operation exists so that other applications can correctly identify this account as a multisig. You can feel free to reject this operation.