Setting up a multi-signature wallet may sound complex, the reality is it’s extremely simple. In fact, it takes just 60 seconds to set up. Here is a walkthrough to get started:
1) Connect a wallet
We support a wide range of wallets that can be chosen to interact with the Gnosis Safe Multisig. Make sure you have some ETH on the wallet, as the Safe deployment will cost some transaction fees.
2) Choose a name
Once a wallet is selected, you can start the process of setting up your Safe. First, you'll need to give a name to your new Safe Multisig. This name is only stored locally on your computer and never shared with Gnosis or any third-party.
3) Select signers
This step is important as these are the addresses that have permission to submit and approve transactions (you can later remove or replace these addresses). Your connected wallet is already added as a suggestion for the first signer, but you can change it as well. Add as many signers as you want, either by pasting an Ethereum address or by entering an ENS name.
4) Define confirmation threshold
The last step is selecting how many signer confirmations a transaction or any settings change of your Safe requires before it is approved. Make sure to consider your setup carefully. If you do not have access to enough signers to reach the threshold, you won't be able to recover your assets.
The threshold can still be changed after the Safe is created.
4) Review and deploy Safe
After you have reviewed all parameters, you can submit the creation of your Safe Multisig and follow the instructions on the screen to deploy your Safe.
Please refer to this article for some information on which Gnosis Safe setup to use, i.e. which owner wallets, how many owner wallets and what threshold.