Subaccounts in Casa App allow you to have multiple multisig wallets within a single Casa account. Subaccounts allow you to keep your your funds separated in different pools.
Why would I use subaccounts?
While having a subaccount in Casa App is optional, there are several reasons why you may want to have an additional wallet:
- You’re HODLing for different goals or different people, and want to track these balances individually
- You’ve earned some of your coins pseudonymously (e.g., from mining), and don’t want to mix them with coins you’ve bought on an exchange
How do I create a subaccount?
Since you'll be using the same keys for your subaccount as you use for your primary multisig account (you won't be adding additional keys for this new wallet), you'll first need to create your primary Basic Multisig wallet.
Once your Basic Multisig wallet is set up (or if it's set up already), you would:
- Swipe up on your multisig keyset
- Tap the “...” at top right button
- Tap "Add Subaccount"
- Give your subaccount a name (you can change this later)
Your subaccount is now ready to deposit funds!
How do I send from my subaccount?
Subaccounts are secured using the same keys as your primary wallet. Therefore, when you need to send funds from your subaccount wallet, you would send just as you normally would. You will still need to apply multiple signatures to the transaction in order for funds to be sent from any multisig wallet.
How many subaccounts can I have?
How many subaccounts you can have depends on your Casa membership level.
- Gold members have access to their primary wallet, plus one subaccount (2 total)
- Platinum members and Diamond members have access to their primary wallet, plus four subaccounts (5 total)
Can I hide subaccounts if I'm not using them?
Yes, you can hide unused subaccounts in the Account tab of your Casa App settings. By toggling "Show deactivated subaccounts," you can either show or not show the inactive account. (Note: This item will not display in the Account tab if you do not have any deactivated subaccounts.)
Can I use subaccounts to manage funds held in my IRA?
We recommend checking with your tax professional first as this can have tax implications. Casa is unable to provide tax advice.
To be safe, our guidance is to store your personal funds and any funds in your IRA in fully separate Casa accounts and to avoid using any personal funds (e.g., a personal credit card) to pay for your IRA membership.
How do subaccounts work technically?
When you create a Casa multisig wallet, Casa imports the root extended public keys ("root xpubs") for each device (Trezor, Ledger, mobile phone, etc.). Casa App uses these to create new receive addresses every time you make a deposit.
When you create a subaccount, Casa derives an unused set of child extended public keys ("child xpubs") from each of these root xpubs following the BIP 32 standard. All the receive addresses in the new subaccount will be created from this set of child xpubs. If you create a second subaccount, yet another set of child xpubs will be derived from the root xpubs and all addresses in that subaccount will be derived only from that second set of child xpubs.
The bottom line is that even though your subaccounts are all managed by the same hardware devices, they are each based upon distinct sets of xpubs and the resulting addresses create no data on the blockchain that can be used by an observer to correlate funds in different subaccounts, as long as you don’t send funds from one subaccount to another.