I need to create multiple proxies for an account by using proxy accounts. Can I do it? if yes can I manage multiple proxies to make transactions?
You can create a proxy with restricted rights and then that account could have a proxy with even more restricted rights I believe.
Or you could have two proxies with one having voting rights and another having staking rights for example.
On polkadot there is a non-trivial deposit at the moment for creating a proxy (this is because it has to set up some state on the chain).