The config file is a plain text JSON file. You need to change three things: set your own RPC password, change 'rpc-whitelist-enabled' to false so you can reach the web UI from another device, and optionally change the download directory. The nano text editor is pre-installed on most Ubuntu systems. Use arrow keys to navigate, Ctrl+O to save, Ctrl+X to exit.
$ sudo nano /etc/transmission-daemon/settings.json
What you should see
The nano editor opens showing a JSON file. Find the lines: "rpc-password", "rpc-username", and "rpc-whitelist-enabled". Change rpc-password to a plain text password of your choice (Transmission will hash it automatically on next start). Change rpc-whitelist-enabled from true to false. Save and exit.
This might happen
File path not found or permission denied
Try the alternate path: sudo nano /var/lib/transmission-daemon/.config/transmission-daemon/settings.json