Setting an Admin Wallet

What is an Admin Wallet?

When you first connect a wallet with Locksmith and make your Trust, that wallet automatically becomes the admin wallet. In other words, it is given “admin” permissions. If you navigate to your Trust and see the “Admins” button in the top right corner, you know you are connected with the admin wallet. 

The admin wallet has the power to access all funds in your trust, create new accounts, and add new external wallets to accounts. Because of its important role, we recommend dedicating a wallet solely for admin duties (i.e., setting up recovery, adding accounts, and managing account access). It would ideally be a hardware wallet for extra security, but an unused browser wallet also works well.

Why is it Important?

One of the key features of Locksmith is the ability to set up an account structure that makes sense to you. Some people will want to have just one or two accounts, others will choose to make many accounts to separate their funds and segment their signing risk. Since the admin wallet can access everything in your Trust, it’s worthwhile to keep it safe and separate.

Why does it exist?

To make your life easier. The admin wallet is the only seed phrase you ever need to remember. Since the admin can add/remove external wallets connected to any account in the Trust, the seed phrases of those external wallets are now redundant. If you lose your phone or your computer crashes, as long as you have your admin wallet seed phrase, you don’t need to worry about any others.

What if I want to change the admin wallet?

You can change your admin wallet in a few simple steps:

1. Navigate to your Trust and click the “Admins” button

2. Click “Add Trust Admin”

3. Enter an address, and click “Next”

4. Click “Confirm”

You can now revoke admin rights to the original wallet by following these steps:

1. Click the “Admins” button

2. Click the trashcan on the right-hand side

3. Click “Revoke Access”

Now you have successfully switched admin rights over to a new external wallet. When you connect to Locksmith with that new wallet, you will see your entire Trust and all of the accounts.