Home Crypto Education Cryptocurrencies Coinapult Wallet Review: Features, Pros and Cons, Privacy, and Supported Currencies 

Coinapult Wallet Review: Features, Pros and Cons, Privacy, and Supported Currencies 

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Coinapult crypto wallet app

When we talk of crypto wallets with a highly sophisticated security system, Coinapult leads the pack. The wallet was established in 2011 and boasts a team of specialists dedicated to providing crypto enthusiasts with a secure and easy way to send or receive cryptocurrencies. 

In 2015, they teamed up with Crypto Capital, a licensed financial institution, to offer seamless transactions and facilitate the accessibility of Bitcoins across the globe. Headquartered in Panama City, Panama, one of the top features at Coinapult is its security. It integrates SSL-encryption and two-factor authentication, plus their wallets have the multi-signature feature, which significantly enhances its security. 

Coinapult is easy to use and integrates intuitive features such as Tender Wallet Bot (Telegram), which allows users to send funds to other users through the in-app chat. In this Coinwallet crypto wallet guide, we take an in-depth look into its features, pros and cons, privacy, and many more. However, before we get into details, let’s first explore some of its top features. 

Coinapult wallet features

Superb security: Security is the greatest concern at Coinapult. For this reason, the wallet integrates a couple of top-notch features, including enhanced protection from DDoS attackers and SSL encryption. It also features such advanced security features, email reports of logins, and many more.

OS compatibility: Coinapult is also compatible with almost any operating system, including API, Web Interface, Windows, iOS, and Android. All you need to do is install the app. 

Traditional currency support: Unlike the majority of crypto wallets, Coinapult integrates a couple of traditional currencies, including US Dollar (USD) and Euros (EUR).

Security features

Password encryption: Apart from an elastic multi-stage wallet strategy that ensures 80 to 90% of your funds are secure, Coinapult uses an additional password protection mode to secure its users’ funds.  

Cold storage: As an added security measure, users can store their crypto assets or data in a USB-like device in a highly secure offline environment. What’s more, all this data is stored under a multilayered security system under a registered “custodian.”

Offline configuration: The best thing about Coinapult is that its settings can be configured offline. It is possible to configure the most sensitive aspects of your wallet’s security without an internet connection. 

Coinapult Privacy

One of the main reasons why crypto enthusiasts seek the services of Coinapult is because it adheres to privacy. The wallet integrates numerous privacy features such as a 2-factor authentication and a white list option. Plus, 80-90% of their user’s funds are stored offline. 

Moreover, all its transactions are required to pass through an enhanced verification process that requires users to provide their PINs or passwords to access the wallet. Their keys are also stored in an exchange platform to calculate crypto index prices, generate dynamic bidding as well as asking prices depending on transaction classes.  

Supported currencies 

Coinapult prides itself as one of the most popular coins with quite a huge number of currencies in the market. What’s more, it supports both traditional and cryptocurrencies. Below is an insight on some of these coins:

  • Cryptocurrencies supported: Bitcoin (BTC), Litecoin (LTC), Ethereum, DASH, Bitcoin Cash,  and many more. 
  • Traditional currencies: Euros (EUR), US Dollar (USD), Sterling pound (GBP)

In addition to these currencies, Coinapult also offers Gold and Silver commodities trading. 

Setting up the Coinapult wallet

Coinapult maintains one the easiest and fastest method to transfer, send, and accept Bitcoin payments. Below is a detailed guide on how to go about setting up your wallet:

Step 1: Download and install Coinapult

The first step is to download Coinapult. You can find it from Google Play, iOS, macOS. Alternatively, if you are using a desktop platform, you can sign up at https://coinapult.com/signup to create a new account. 

Step 2: Create a new account 

Whether using a mobile or desktop platform, the first step is going to the website’s homepage and creating an account. Ensure that you enter the required credentials before going to the next step.

Step 3: Backup your recovery phrase

This is perhaps the most important step while setting up a new wallet at Coinapult. You will be required to backup your recovery phrase, preferably writing it down on a piece of paper.  

Step 4: Verify your email

After registering an account, you will be required to verify your email before your account can be activated.

Step 5: Choose your ideal currency at https://coinapult.com/locks/

After activating your account, it is imperative to ensure you choose a list of your ideal currencies. 

Step 6: Fill in the total amount you want to send or receive

Key-in the amount you wish to send or receive at the “lock amount” box before heading to the next step.

Step 7: Complete your transaction

After going through all the above steps, your account will be ready for use. You will have successfully sent funds to your desired address through an encrypted .zil domain. It is that simple. 

Note that for a transaction to be successful, the platform should show the resulting invoice of the other transacting party at the top right corner. For subsequent transactions, you are required to repeat these steps. Bear in mind that the quick and easy merchant setup does not include bank statement capabilities. 

How to Send Bitcoin to an Address via SMS

So, what if you don’t have internet access? You can still send funds to any address – as long as they are registered with Coinapult. Technically, the addition of this feature also means that you can send Bitcoin to anyone across the world, with or without the internet. 

The best thing about this feature is that if the recipient does not have an existing account, one is automatically created. They will receive a confirmation message that their Bitcoin has successfully been sent and stored in their wallet as well as instructions on how to withdraw these coins.

To use the SMS feature, however, you will need to key in certain commands.

First, you will need to sign in and add your phone number. Use the command “send” + recipient’s phone number + {amount of Bitcoins}. Below is an example of such a command:

You: send +57744433331.3456

Coinapult: Send 3.4995btc to 8885532221 and Respond “yes 1q2hj6” to confirm

You: yes 2r4hh4

Coinapult: Funds sent. Balance: 4.56btc

Wallet security 101

Now that you have successfully created your Coinapult wallet, there are several things you should take into consideration. These include:

  • Watch out for malicious malware on your PC: Some malware is capable of using vulnerabilities in your PC to access your private keys. Ensure you have installed a powerful antivirus to enhance your safety.
  • Keep your recovery phrase safe: Note that in case you lose your “word seed,” “recovery phrase,” or “root key,” it is impossible to access your account. 

Customer support

Coinapult takes pride in its exceptional support team. They provide their customers with real-time feedback via their email or live chat. What’s more, they offer a plethora of user-friendly guides as well as a detailed Frequently Asked Questions (FAQs) section. 

Additionally, you can also contact them via their interactive social media platforms, including Facebook, Twitter, and LinkedIn accounts. 

Coinapult Wallet Compared to Other Competitors

Coinapult is indeed one of the most secure crypto wallets with sophisticated security features. It integrates 2-factor authentication and has a centralized validation mode of transaction. Further, it is quite easy to send or receive funds to the crypto wallet. You can even send your coins via SMS, which makes it a better method for individuals without an internet connection as well as for on-the-move transactions. 

All you need to do is follow the prompts while sending SMS commands, and you’ll be good to go. What’s more, it also features some amazing features, such as sending Bitcoin via email or directly from the Telegram app. The ability to integrate these unique features makes it one of the best platforms in the market. 

Pros and Cons of Coinapult Wallet

Pros

  • Its security is top-notch
  • The registration process is quite easy and straightforward
  • It is open-source
  • 2-factor authentication
  • Multi-signature

Cons

  • One may consider their customer support sluggish

Final Verdict: Is Coinapult Wallet Worth Your Money? 

Although Coinapult is not the top-rated crypto wallet in the market, it has gained a reputation and features among the safest platforms. It would be the go-to option for crypto enthusiasts looking for a Bitcoin wallet that supports such traditional currencies as the US Dollar (USD) and Euro (EUR). 

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