Today we are going to talk about Copay Wallet, what is it? Copay Wallet is an HD wallet and is designed to keep Bitpay funds safe. Also, this wallet is multi-sig due to which it is considered a good option for businesses. In which several approvals will be required for the transaction. The interface of this wallet is quite easy to navigate, especially for expert users and mid-level. Copey’s HD settings, which are considered quite secure, are important for security and have been seen to lack 2FA protection methods. This wallet is open-source, as such, is safe to use and reliable. This wallet is made available on desktop, web and mobile. If you want to start trading bitcoins, there are a few things you should know about trading apps.
Some general information related to copay wallet
Copay Wallet was launched in 2015. Copay Wallet, created by Bitpay Inc., is a bitcoin payment system platform for firms and corporate businesses. The main purpose of the Copay Wallet was to be used as a platform and at the same time to make BitPay funds secure and convenient. Options that pair with Copay include Coinomi and Exodus. Copay still stands as a development company for the Bitpay wallet. The co-founder of BitPay is Stephen Payer as an executive officer. Integrates BitPay Visa Debit Card via Copay Wallet. This wallet is like a big player in the crypto industry.
- Easy to use — This wallet is quite comfortable with its versatility, but it is going to be a bit difficult for some beginners to use. This Wallet name and colourful background theme have many very customized features attached to it. In addition, this wallet supports many languages such as French, Spanish, Chinese and German, among other languages.
- Wallet Price — This Copay Wallet is completely free, plus this Copay Wallet supports some desktop platforms such as Microsoft Windows and Linux. This wallet is also being made available to you on devices like Android and iOS mobiles.
- Security —If we talk about the security of this wallet, a phishing attack has been recorded by Bitpay in the past. Who invented the Copay Wallet to protect against hacks. This wallet is an HD wallet in which the settings are used. This means that the address is generated per transaction, in which the seed phrase is required to use the Back Your facility. If you accidentally lose your login device, you will be able to recover your wallet. This wallet acts as a third party instead of a blockchain node, which is assisted by Bitpay servers that use the SPV method. The same Copay Wallet performs this securely, the SPV method used by some users to deceive Bitcoin.
- Fees — Transactions made with bitcoin involve collecting fees by miners on the network. If you want to process transactions faster, it is up to them to collect mining fees. The higher the fees collected, the greater the incentive would be to include a particular transaction with the block the miner is currently in.
Wrapping up
In this blog, we have explained some important things related to Copay Wallet, using the wallet is a better as well as a safe option for you to store or securely buy your bitcoins. It is more than brands such as Amazon, Uber and Nike among others that are adding to the appeal of this option to buy with gift cards. If you are a US resident then you can also pay with this wallet to buy items online. Many new features have been added to this wallet with which you are provided with many conveniences while investing in cryptocurrency.
