Self-Custody Hot Wallet Sharing

Modified on Wed, 15 Jul at 3:50 PM

Self-custody hot wallets are unique because one of the private keys is encrypted to the user’s password. This means that any member with spend permission on a hot wallet needs to enter their password when:

Creating a self-custody hot wallet: enterprise Admins that create wallets are the first member with the private key encrypted against their password. Once the wallet is created, a key sharing request will be generated for this member to access from the Activity page. They will need to share this wallet with all other members in the Organization with Spend permissions on All Wallets.

Sharing a self-custody hot wallet: if you are currently a “key holder” (i.e., you have permission to spend from a self-custody wallet), then you will be responsible for sharing the wallet with other team members when they are added to a role that grants them spend permission on the wallet. You can do this by accessing the Activity page within each enterprise. Until a key has been shared, users will be added to wallets as Viewers. Once the key is shared, members will be updated to a Spender.

Receiving a self-custody hot wallet share: once you have been added to a role that has Spend permission on a self-custody wallet and a key holder has shared the wallet, you will need to accept the share from the Activity page within each enterprise. You will also need to ensure that you log into the BitGo platform at least once before the key can be shared with you. If you have not logged in your pubKey has not been created which will not make key sharing possible.

Things to Note about Self-Custody Key Sharing

Although member management is done in the Admin Console, key sharing happens within the enterprise.
Enter a wallet password one-by-one and we will apply it to all of the wallets that use that password. Continue entering new wallet passwords until you complete all shares.
You do not need to be an Organization Admin to share a self-custody wallet key. You do however need to be a current or previous Wallet Spender.