The cryptocurrency market is at its peak and there are different wallets used for storing them. The cryptocurrency wallet allows safe and secure storage of the coins. The cryptocurrency which has been on top nowadays, Bitcoin is stored in the wallets known as Copay. Not only Bitcoin, but Bitcoin Cash, which is a Hard Fork of Bitcoin uses Copay wallet for storage. Let’s have a look on the other details of this wallet.
What is Copay?
Copay is the original secure and trusted wallet for Bitcoins and Bitcoin Cash. The personal funds and coins are secured with one or more signatures and is a trustworthy storage for bit coins. It is an open source hierarchical wallet in which the funds are securely stored eliminating the possibilities of fund loss. This wallet allows the users to check the price of around 150 different currencies.
Simple UI of Copay
Copay is an open source wallet which can be copied and modified by anyone. Also, people can contribute in this wallet. With multiple signature protection and remote backup, this amazing wallet has some exceptional features. Here are some of the features explained:
Multi signature wallet
Multisignature wallet means, it can be used by more than one person in sharing. When people use single account for making transactions, in case of cryptocurrency wallets, it is known as multisignature wallet. The users are verified and granted access to the wallet through signatures. People can use the same wallet for making transactions with their signatures. This feature is beneficial in cases like:
- For sharing the same account or wallet with multiple people
- For using a shared wallet for joint accounts and savings
- For keeping a track of spending and expenditures of the entire family
- For managing businesses and allowances
Open source development
Copay is an open source wallet or platform where users don’t have to rely on the 3rd party payment systems, the users can also take control over using their own version of copay apps and store their bitcoins.
The copay platform is available for development, modification and improvements where there are multiple users who have already contributed.
Additional features of Copay:
- Support towards the top most cryptocurrency Bitcoin and Bitcoin cash
- Hierarchical address generation for best wallet support
- Remote, secure and reliable backup storage to prevent loss of funds
- Support for over 150 different currencies throughout the world for flexibility of usage
- Use of high quality payment protocol for easy payment requests and secure transactions
- Integrated platform for buying and selling bitcoins for hassle free transactions
- Smart notification system after payments to confirm payments
- Compatibility with bitcoin testnet wallets for smooth storage and expenditure
- Customizable wallet design with names, backgrounds and themes
- Multiple language support for ease of use
- Availability for iOS, Android, Windows, Linux and much more
- Support for hardware wallets like Ledger and Trezor
The user interface of this wallet is simply amazing. It the most user friendly wallets available for Bitcoins and Bitcoin cash in the market. It is easy to use and has latest themes.
The Copay wallet has been designed to improve usability. The wallet can be used and synced on different devices and operating systems. The wallet is compatible with:
- Mobile applications of both iPhone and Android
- Chrome and other browsers
The design of this wallet is quite eye catchy and attractive. Copay supports the best UI which is easy to use and attractive in looks. The wallet has minimalist designs, themes, easy navigation features, buttons and tools which can be easily used.
Sending bitcoins made easy
Security is a prime feature which can be highlighted in Copay. This is a smart and secure wallet through which, payments and transactions can be done easily. Copay completely supports the Bitcoin Payment Protocol through which, the wallets are secure and safe.
- Copay also enables email and push notifications for the payment confirmation.
- Most of the wallets are operated through 3rd party operators which is not the case in Copay.
- You use private keys and thus, Copay does not have access to your funds. Around 5 people can easily use the same wallet for making transactions with secure payments.
- If you have your wallet shared with 5 people, and any person requests for a transaction, the payment will be allowed only when all the five people will approve their signatures. The transaction confirmation gets broadcasted to every person using the shared wallet.
- Copay completely supports the bitcoin payment protocol which ensures and confirms that the payment has been sent to the right person
Coins supported by Copay
Copay supports Bitcoin and Bitcoin cash
- Like so many other wallets, Copay is free to use. There is just the transaction fee for sending Bitcoins.
- The greatest advantage of Copay is that multiple users can share the wallet for transactions at a time. It provides hassle free sharing of wallet
- It is highly secure and reliable. The Bitcoin Protocol is used to ensure safe payments and payment confirmations
- Open source platform where users can contribute
- The modern design and widgets may become difficult for the users to use. The beginners may face some issues while starting with copay.
- The service is dependent on central verification
- It may take time to confirm signatures from multiple users to make a transaction which can be annoying
Final verdict for Copay
When compared to other wallets, Copay turns out as one of the best wallets with excellent security features and hassle free operation through multiple users. Multiple users can simultaneously use this wallet for sharing the cryptocurrency. For business and routine use, this is one of the smartest wallet choices you can make.
If you want a secure and easily sharable wallet, this will work as an excellent choice for you! You just need to learn its usage and you will soon become a smart user.