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Sub-Accounts: Advanced Options Explained

Advanced options give you a greater degree of freedom and control over your assets and provide you with the information you need to move specific assets and blockchains to other wallets you may own outside of the Savl ecosystem.

Under advanced options, you can get the following information for each assets you own: address, derivation path, private key. So using Bitcoin as an example, each of your sub-accounts will have the following information (all fake info by the way):


Sub-Account 1 (Original Account)

Address: bc1w0lhvlk0kv4jhjklgu2g6pdafghj05csqxjmd9d

Derivation Path: m/84'/0'/2'/0/0

Private Key: L5NWQaGiurBJ6j123vWxLuV8BrNfY2zQ6jCVS7qARNyNs2BdT4UJ


Sub-Account 2

Address: bc1f0lkrsd1iu4awtfyms2g6pdafghj05loijwhd7c

Derivation Path: m/44'/0'/0'/0/0

Private Key: L5PTWBKEwLJm5AzeiV5JgHpW99uruePgJP4as9hKZbAFuSuYtGTR


Sub-Account 3

Address: bc1f8kirsu1iu4lposdnbx2g6pdafghj06loijwhd7k

Derivation Path: m/84'/0'/1'/0/0

Private Key: L1xYkZq4oUKq12yYDlRXNJn4E2AJZULvNjwGweZLp89ddKqfyJFf


What is the address for?

This is the wallet address you will provide to others when transacting with them. If they want to send you Bitcoin, they will use bc1w0lhvlk0kv4jhjklgu2g6pdafghj05csqxjmd9d for example.

NOTE: You can also get your specific asset address by tapping on the asset from the homescreen and ensuring that the correct sub-account is active.


What is a derivation path and how do I use it?

If you use an hierarchical deterministic (HD) wallet to store your cryptocurrency assets, you would have come across the term "derivation path." In simple terms, a derivation path determines a consistent way to generate the same set of accounts and wallets from a specific private key, even if you switch to a different device or wallet provider.

A derivation path, as the name implies, is used to "derive" single wallets from your seed phrase (master key) using mathematical and cryptographic algorithms, which can essentially create an infinite number of wallets from a single seed phrase (this is ultimately how sub-accounts exist).

The derivation path determines how the wallet generates addresses from the seed. When recovering your wallet, it is important to use the correct derivation path to ensure access to all previously used addresses. Failing to do so may result in the inability to view or access your funds, despite them being securely stored on the blockchain.

A typical derivation path will look something like this: m/84'/0'/1'/0/0

Each piece represents: m / purpose' / coin_type' / account' / change / address_index

Each number in the sequence plays a role in determining the private key, public key, and address. The derivation path determines how these values are generated. You can find a clear explanation of how derivation paths work here.

In simple terms using a derivation path ensures that when you import a specific wallet from Savl to another provider (or vice versa), you are specifying key parameters about the asset you are transferring to ensure no mistakes happen.

With sub-wallets, you can easily find the derivation path for each of your assets in your sub-account. To do this, simply go to:

Services > Sub-Accounts > ⚙️ > Advanced options > Select blockchain and you will see address, derivation path and private key data.


What is my private key and can’t I just use my seed phrase?

Your seed phrase is something different and is effectively your master access key to all your sub-accounts and entire Savl Wallet ecosystem. Each private key is subordinate to your master and as per above, derived from it.

A private key exists on a per currency basis. So within advanced options, you will have a unique private key for each asset you hold and each private key is also unique to that particular sub-account. You will need your private key when you want to import say your Bitcoin from Sub-Account 2 to another wallet outside of Savl.