How do I set up a vault?
A vault is a separate account that stores your cryptocurrency more securely. To set up a vault, sign in to your account on Coinbase.com:
Select the crypto you'd like to store in a vault from your assets
Under the Vault tab, click Create vault
Name your vault:
5. Select whether withdrawals will be approved by you alone, or a group of trusted co-signers:
6. Enter a secondary email, then click the link in the memo sent to your secondary email address to verify your account:
7. You will be directed to this confirmation:
Once completed, then you can send correlating crypto to your vault.
For more information, please see our Vaults page.
What's the difference between an individual and group vault?
An individual vault requires only one person's permission to withdraw funds. However, a secondary email is needed to approve withdrawals. Notification emails are sent to both the primary and secondary email addresses for approval.
A group vault requires multiple approvers to initiate a withdrawal. Only the master account holder can request a withdrawal, but a certain number of approvals are needed before funds can be withdrawn, either 2-of-3 or 3-of-5. It is very important to designate only trusted individuals as co-signers.
Note: There is a 48-hour waiting period whether you use an individual or group vault. For a group vault, once a withdrawal is initiated and approved by the co-signers, only the master account holder has the ability to cancel it before the waiting period is over.
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