Create the group wallet

All the members have joined the group. We can move to the next step and create the group wallet.

What is a group wallet

The group wallet is a shared wallet between all the members of the group (similar to a joint bank account). It requires one or more signatures to confirm and send a transaction.

Group wallets operate by vote. This means that everyone must vote if funds need to be sent out of the wallet e.g. for buying an NFT, for withdrawals to a group member, or for swapping tokens. This feature adds security to your funds.

By default, the vote is by the majority of members. But it can be adjusted in the settings.

Create a group wallet

Step 1: Log in to Pesabooks and select a group (if you have more than one) in which you want to create the group wallet.

On the dashboard page, click on Create Group Wallet

Step 2: Review the Transaction

Make sure to have enough funds in your Pesabooks Wallet for the transaction fee. Refer to Fund your wallet

You will need a Native token of the network you selected while creating the group.

Click on the button Submit to create your group wallet on-chain.