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Copay Wallet Review: Features and How-to-Use Guide
Open Source
When it comes to the project’s code, it’s always preferable to keep it open. This way, developers are showing transparency of what’s behind it and basically everyone can suggest improvements or check on how issues are fixed.
Multi-Signatures
Multi-signature gives you the ability to request multiple people to sign a certain transaction for the purpose of broadcasting it. If some of them doesn’t agree, the payment isn’t approved. Very useful for business organizations.
User-Friendly
The user-friendly interface allows users to quickly start working with the platform. It’s simple and easy to use, created for the purview of offering the easiest GUI-interface wallet available on the market.
Achieving success in less than a year, the Copay wallet, launched in 2015 has become a wished-for method to use both Bitcoin and Bitcoin Cash. Starting with what interests you most, Copay supports both desktop and mobile versions, which makes it a preferred crypto wallet to operate with your Bitcoins. Additionally, it offers the opportunity to access your wallet via web browser or in a word you have multiple options to decide how to use it. Additionally, Copay is a hierarchical deterministic (HD) wallet, which means it provides you a brand-new address each time you place a transaction. In breve, it’s an anonymity feature to make your funds, respectively balance, hard to be tracked. So far, so good. There’s a multi-signature feature to request more than one person to sign a transaction for the purpose of getting broadcasted to the network. Ultimately, this makes it convenient also for business usage.
How It Works
Is Copay Wallet
Hierarchical Deterministic (HD) The HD feature allows users to easily and safely backup and restore their walletfunds from a seed (the pass phrase they have received when creating the wallet).
Bitcoin Payment Protocol (BIP)
The BIP ensures that users won’t send any of their assets to a wrong address, sincethis is one of the most common issues users ever experience. Addresses are stringslong enough to be mistaken, so it’s good to have a double checker like BIP.
Hierarchical Deterministic (HD) HD has another interesting option to offer on your service – a different publicaddress for each transaction, which basically make them hard to track and avoidslinking your addresses for identification. Thinking of Bitcoin’s network and the factthat it’s all public and traceable, you’ll be interested to try to avoid re-using thesame address.
About
I would like to say a few more words on Copay itself and its purpose. Back in 2011, a crypto payment service BitPay was established in Atlanta. As the first to implementBitcoin in their industry, they were considered the gateway to use cryptos. With time it became more popular of course, so BitPay quickly adapted to the dynamic changesin the crypto sphere and proposed their own payment solution – Copay. Launched in the middle of 2015 as a light wallet, Copay is one of the most preferred Bitcoin clientsworldwide.
Cryptocurrencies that work with
