Set Up Your Web3 Wallet


To complete this you must have: 

  • Registered your mobile Yubikey

  • Downloaded the Prime approvals app onto your iPhone

  • Installed the Prime Wallet Extension for your browser

An Administrator in this portfolio should take the following steps:

  1. Once logged into Prime, click the Web3 icon on the left navigation bar to access the Web3 page. 

  2. Select “Get Started”. 

  3. Sign the Prime Web3 Wallet Terms of Service.

  1. Select the initial Web3 Signer from the drop down and approve with your Yubikey.

    • Web3 Signers must have:

      1. Role: Administrator, Approver, Authorized Signatory or Full Trader.

      2. Equipment: iPhone and mobile compatible Yubikey.

  2. Reach consensus to designate the Web3 Signer permission.

The Web3 Signer should take the following steps once permission is granted:

  • Navigate to the Prime Approvals mobile app to generate the Web3 wallet and key.

    • A QR code can be scanned on Prime web from your phone to navigate to the Prime mobile app.

  1. Sign into the mobile app with your existing Prime username, password, and Yubikey.

  2. Start Web3 wallet set up.

  3. Enable biometrics.

  4. Generate the Web3 key. This will also require a biometrics check.

  5. Click Create Recovery Backup, which will generate a passphrase that will be required to unlock it. Biometrics check will again be required. 

  6. Save & Confirm the Recovery Passphrase. It is critical that you save & store the passphrase, this passphrase is required if you lose access to your Web3 key shard to regain access to your wallet. Make sure to not lose it or you risk losing access to the wallet and any funds held on it. 

  7. Once confirmed, you should see the Web3 wallet tab on the left hand side within the Prime portfolio.

    • Note: It may take a few minutes for the wallet to display. You can try exiting and re-opening the platform and refreshing the Prime UI page to update the display.

  8. Navigate to the Prime Web, under Web3 to view your wallet which comes with another address.

  9. Navigate to the Prime Wallet Extension. The wallet should show up in the upper left corner, and display the balances.

Multiple Web3 Signers

The Prime Web3 Wallet is a non-custodial wallet. Maintaining access to your wallet key shard is critical. Ensure you have multiple web3 signers and have safely stored your recovery passphrase should you need it.  If all signers lose access to the shard and you do not have your recovery passphrase Coinbase cannot assist with recovery. 

Once created, the wallet will have a single address. It is however possible to generate more addresses for that same wallet in that portfolio. It is a way to segregate funds on chains to addresses with different purposes.

  1. Log into your Prime account.

  2. Click into the Explore tab on the left hand side of the landing page.

  3. Select “Create New Wallet” and name the wallet

  4. Approve the action with your Yubikey on the platform and once consensus is reached, the new wallet will be created.

You can now login to the Prime extension to start using your wallet.

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