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Cryptocurrencies

Crypterium wallet Review: Features, Fees, Security, Pros and Cons

Crypterium wallet is an innovative and custodial crypto vault that seeks to provide users with a safe platform where they can store, manage, spend, and earn from their digital assets seamlessly. To this end, it has integrated several advanced operational and security features that include an AI-powered exchange system, integrated a borderless card, allowed you to earn interest from saved cryptos, and even insured your digital currencies.

Crypterium wallet - Best crypto wallet app

Crypterium wallet is an innovative and custodial crypto vault that seeks to provide users with a safe platform where they can store, manage, spend, and earn from their digital assets seamlessly. To this end, it has integrated several advanced operational and security features that include an AI-powered exchange system, integrated a borderless card, allowed you to earn interest from saved cryptos, and even insured your digital currencies.

Crypterium wallet is an innovative and custodial crypto vault that seeks to provide users with a safe platform where they can store, manage, spend, and earn from their digital assets seamlessly. To this end, it has integrated several advanced operational and security features that include an AI-powered exchange system, integrated a borderless card, allowed you to earn interest from saved cryptos, and even insured your digital currencies.

Crypterium started as a Bitcoin-only wallet but has, over the years, incorporated more cryptocurrencies. In this review, we tell you everything you need to know about Crypterium, such as the number of supported crypto, how to activate the Crypterium wallet, its features, pros, and cons.

Crypterium wallet key features:

Cross-platform: Crypterium is a cross-platform wallet available as a web vault and a mobile app. You can choose to register online on the official Crypterium wallet website or download the Android or iOS app on the website or the play/app stores.

Built-in exchange: Crypterium integrates ten leading crypto exchanges. More importantly, it features a free artificial-intelligent-powered arbitrage matching system available to every Crypterium user that lets them take advantage of the best crypto exchange rates when swapping currencies.

Integrates Crypterium card: The Crypterium wallet development team has also come up with a borderless Crypterium card and integrated it into the crypto vault.

Buy with card: Most of the exchanges hosted on the Crypterium wallet make it possible for the users to purchase crypto using virtually any debit or credit card.

Pay with crypto: Crypterium wallet users can now deposit cash to the card and use it to pay for goods and services in crypto-friendly stores or withdraw cash at compatible ATMs across the world. The wallet and card also make it possible for you to top up mobile credit, buy redeemable gift vouchers, and even make direct bank transfers.

Fee-free cash transfers: Crypterium is one of the few crypto wallets that make it possible for wallet users to send cryptocurrencies and fiat cash to other individuals using a phone number. They don’t need to have installed a Crypterium wallet as they will get a notification informing them about incoming funds and a link where they can download the wallet to receive the cash.

Earn from savings: The Crypterium wallet roadmap describes a savings plan that allows you to lock digital assets into the crypto vault and get a chance to earn interests of up to 6% annually.

Crypterium wallet security features

Password: The Crypterium wallet is secured with a password that the user sets when creating a user account. 

Two-factor authentication: You can also add another security – the two-factor authentication – to your wallet by adding and verifying both your phone number and email address.

Insured deposits: Crypterium wallet keeps the private keys secure on behalf of their clients. The wallet’s website claims that all the user-funds stored in the Crypterium crypto vaults are insured, implying that should their servers ever be compromised, users will be compensated.

Client-side encryption: The password also serves as the encryption tool for the client-side encrypted wallet. Here, client-side encryption implies that all the wallet communication with the Crypterium servers, exchanges, and other third party systems are encrypted before they leave the wallet.

Hosted service with BitGo: In an attempt to keep your cryptocurrencies safe, Crypterium has partnered with BitGo, a crypto-security services provider. The company specializes in providing safe custody for digital assets.

Block card: Crypterium gives you a near-absolute control of your wallet-linked card. For instance, it makes it possible to control your card spending and even block a lost or misplaced card via the wallet.

How to set and activate the Crypterium wallet app:

Step 1: Download the Crypterium wallet app for your device on either the official Crypterium wallet website or app/play store.

Step 2: Install and launch the app.

Step 3: On the installation page, click on the ‘Create New Wallet’ tab

Step 4:  Enter your phone number and create a password for the wallet.

Step 5: Enter and verify your email address

Step 6: Your wallet is now active and ready for use

How to add/receive crypto into your Crypterium wallet

Step 1: Log in to your Crypterium wallet and tap on the “Receive” button

Step 2: On the deposit window, copy the public wallet address or QR code

Step 3: Send it to the party sending you cryptos

Alternatively:

Step 4: Fund the account by using a debit or credit card to buy new crypto or swap digital assets on either of the ten integrated crypto exchanges.

Step 5: Wait for the crypto to reflect on your Crypterium wallet.

How to send crypto from your Crypterium wallet

Step 1: Log in to your Crypterium wallet, and on the user dashboard, click on the “send” button.

Step 2: Chose the type of coin you wish to send

Step 3: On the transfer window, enter the receiver’s wallet address or phone number and the number of coins you want to transfer

Step 3: Verify that these details are correct and click send.

Crypterium wallet ease of use

Both the Crypterium web wallet and the Crypterium crypto vault have one of the easiest onboarding processes. The wallets are also multi-lingual and available in five international languages, including English, Korean, and Russian. The processes of sending and receiving cryptos into the wallet are also easy.

More importantly, it infuses a wide range of operational features that are easy to interact with, making it an all-in-one cryptocurrency wallet.

It also maintains a highly intuitive user interface that is specially designed to attract both beginners and the most experienced crypto traders/investors.

Crypterium wallet supported currencies and countries.

Crypterium started as a Bitcoin-only wallet. However, it has embraced more cryptocurrencies in the recent past, and you can now store 18 different coins in the wallet.

The exchange service is available to Crypterium users in 180+ countries around the wallet, while the Crypterium card is acceptable in 150+ countries.

Crypterium wallet cost and fees

Crypterium is a free wallet to the extent that you will not be charged to download the wallet or store different crypto coins therein.

Blockchain network fees, however, kick in when you send cryptos to other wallets and exchanges. Other in-wallet charges include the variable commission charged for crypto swaps by the exchanges as well as the 2% charged for card processing.

Crypterium wallet customer support

There are four primary means of accessing the Crypterium wallet customer support team. You can start by raising a support ticket via the Contact Us button on the wallet website, interact with one of their representatives via the in-app chat button feature, call them, or direct message on their telegram channel.

What are the pros and cons of using the Crypterium wallet?

Pros:

  • Crypterium wallet has one of the most responsive customer support teams.
  • The wallet has embraced highly effective security safeguards, including two-factor authentication and insuring customer deposits
  • Cryptereium wallet gives you access to more Crypterium resources, including the Crypterium card.
  • The wallet doesn’t just help keep your digital assets safe but helps you interest of up to 6% annually.

Cons:

  • It is still a hot wallet and subject to threats facing online crypto vaults.
  • It doesn’t allow for anonymous crypto trading.
  • One may consider the number of supported cryptocurrencies limited.

Comparing Crypterium wallet with other multicurrency wallets

Crypterium wallet vs. DropBit wallet

Crypterium and Dropbit are both highly secure and innovative crypto wallets. This innovativeness is demonstrated by the fact they were among the first to allow wallet users to send crypto to mobile numbers, regardless of whether the receiver has a crypto wallet or not. Dropbit has ever taken this a step further and made it possible to send cryptos to a Twitter handle. More importantly, they both are easy to use and quite beginner-friendly.

But while Dropbit is a Bitcoin-only wallet, Cryteroium wallet supports up to 18 leading cryptocurrencies. Similarly, while DropBit has only embraced basic security features around the wallet, Crypterium has gone a step further and insured all customer deposits.

Verdict: Is Crypterium Wallet safe?

Yes. We consider Crypterium Wallet to be safer than the average crypto wallet based on the number of integrated security measures. Like most other wallets, Crypterium Wallet uses a password, encrypts user data, and enables two-factor authentication. But unlike most wallets, Crypterium insures the customer digital assets deposits, ensuring that no one loses their funds even if the wallet or its cold storage servers were hacked. 

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Cryptocurrencies

BTC.Com Wallet Review: What Makes This Crypto Wallet App Unique?

Developed and maintained by Bitmain, BTC.com is a crypto wallet app and web wallet that seeks to provide users with the most secure yet easy to use crypto storage. This online wallet has made it relatively easy to earn, store, and spend your Bitcoin without having to worry about the insecurities that come with storing your crypto in an exchange or the complicated interfaces of the hardware wallets.

Developed and maintained by Bitmain, BTC.com is a crypto wallet app and web wallet that seeks to provide users with the most secure yet easy to use crypto storage. This online wallet has made it relatively easy to earn, store, and spend your Bitcoin without having to worry about the insecurities that come with storing your crypto in an exchange or the complicated interfaces of the hardware wallets.

Developed and maintained by Bitmain, BTC.com is a crypto wallet app and web wallet that seeks to provide users with the most secure yet easy to use crypto storage. This online wallet has made it relatively easy to earn, store, and spend your Bitcoin without having to worry about the insecurities that come with storing your crypto in an exchange or the complicated interfaces of the hardware wallets.

Unlike most of its competitors with shadowy reputations, BTC.com has the solid backing of Bitmain. This is a Bitcoin-focused technology company that’s best known for pioneering and popularizing antminer rigs, running two of the largest bitcoin mining pools, and developing other bitcoin-related products. The company introduced the BTC.com wallet to the crypto industry in 2016, and it has gone on to become the favorite wallet for most Bitcoin miners, traders, and investors.

In this BTC.com wallet review, we look at the factors that help the Bitmain-sponsored crypto wallet app stand out. We detail its key operational and security features, its ease of use and level of customer support, highlight its pros and cons, and compare its efficiency with that offered by similar crypto wallets.

Key features:

Highly reputable:

One of BTC.com wallet’s strengths and biggest selling point is that it is maintained by the highly reputable and security-conscious Bitmain company. This, plus the fact that it has never suffered a significant security breach, endears it to most users.

Multiplatform:

There are two primary versions of the BTC.com wallet – the mobile app and internet-based wallet. Both are versatile and work well with the two main mobile operating systems and popular internet browsers.

Straightforward setup:

We also like the BTC.com wallet’s user-friendliness highlighted by its quick and straightforward user account set up process. This aligns with BTC.com’s commitment to being the most secure yet highly secure crypto wallet.

Integration with mining pools:

The BTC.com wallet also gives you access to the mining pools operated by Bitmain. And if you contributed your RAM to either of the pools, your portion of earnings will be automatically deposited to the BTC.com wallet from which you can sell them at an exchange.

Hardware wallet integration:

In addition to the wallet’s close ties with Bitmain Bitcoin mining pools, BTC.com also integrates with some of the leading hardware wallets. This provides it with an added layer of security and makes it possible for you to hold more than just two (BTC + BCH) cryptocurrencies.

Phone contacts synchronization:

This revolutionary BTC.com feature ensures that you don’t always have to key in the complex wallet addresses when sending cryptos. You can give the wallet app permission to access your phone book and send cryptos to your contacts without necessarily having to copy or import their wallet address.

BTC.com wallet security features:

Password:

When installing the BTC.com wallet app and creating your user account, you will be required to set a highly unique password. This becomes the central-most form of protection for your crypto wallet and its contents.

Two-factor authentication:

You can reinforce the effectiveness of the wallet password in deterring illegal access to your private keys by activating two-factor authentication. You can activate this using your mobile phone number whereby you receive calls or SMS verification codes or via the Google authenticator app.

Non-custodial:

BTC.com wallet app is a non-custodial wallet – implying that the wallet developers don’t store your private keys in central servers. Rather, they are stored in your phone when using an app and on your computer if you are using the chrome browser extension. This essentially means that you have absolute control over your digital assets.

Hierarchically deterministic:

The BTC.com wallet will auto-generate a new wallet address every time you initiate a bitcoin/bitcoin cash transaction. This ensures that you rarely get to share your real wallet address with the public, which then minimizes the chances of third parties tracking your bitcoin expenditure or crypto activity.

Open-sourced code:

The BTC.com wallet is built on an open-sourced technology, effectively providing a guarantee of safety and transparency. The fact that it is open-sourced means that it has been subjected to a lot of scrutiny and vetting by experienced industry experts who have found it safe for public use.

Multi-signature:

The BTC.com wallet also supports multi-signature transactions that require the authorization of two or more third parties. This makes it ideal for copay and organizational use as it requires 2-of-3 signatures for a transaction to be validated.

Replay protection:

The replay protection feature that applies to Bitcoin and its forks are ideally meant to cushion you and your funds from the risk of double payments if you ever initiate a Bitcoin payment at a time when a Bitcoin hard fork is being generated. BTC.com wallet developers announced that they are taking measures to prevent this from happening.

How to set up the BTC.com crypto wallet app:

Step 1: Start by downloading the BTC.com mobile wallet app from Google play store or Apple’s app store. The app and the browser extension can also be downloaded from BTC.com official website.

Step 2: Install the crypto app and also key fill in the account registration form that captures your email address.

Step 3: Create a password for your wallet address and agree to the wallet app’s terms of service.

Step 4: Download the wallet’s recovery datasheet. This is availed in PDF Format and captures your wallet’s recovery seed.

Step 5: Access your user account dashboard and click on ‘Create New Wallet’ to generate your primary wallet address.

Step 6: You can start adding Bitcoin and bitcoin cash to your wallet, trading or investing

How to add/receive crypto into your BTC.com wallet

Step 1: Log in to your BTC.com bitcoin wallet

Step 2: On the MyWallet section, click on Bitcoin or Bitcoin cash to reveal the wallet address for the crypt you wish to receive

Step 3: Copy the wallet address or the QR code and send them to the party from who you wish to receive the coins.

Step 4: Wait for the cryptos to reflect in your BTC.com wallet.

How to send crypto into your BTC.com crypto wallet:

Step 1: Log in to your BTC.com Bitcoin wallet, and on My Wallet section, click ‘Send.’

Step 2: Click on the crypto you wish to send – Bitcoin or Bitcoin cash.

Step 3: On the popup window that appears, key in the recipient’s wallet address or scan their QR code. Alternatively, use the app’s contact connect feature to send cryptos to saved contacts on your phone.

Step 4: Confirm that the wallet address and amounts you wish to send are correct and click send.

BTC.com ease of use:

According to the BTC.com website, the Bitcoin wallet app has security and ease of use as its key driving pillars. Both the mobile crypto app and the web wallet feature decongested and highly intuitive interfaces. The app is also infused with a wide range of features that make it easy to use.

It, for instance, has the contacts-synchronization feature that gives the app permission to access your phone contacts, which eliminates the need to memorize the wallet address. Similarly, the downloadable recovery seed option minimizes the common errors most crypto users face when copying the backup phrases. Further, it gives you the option of saving the seed as an electronic copy, printing it, or both.

Unlike most other Bitcoin wallets that can be considered opaque, both the BTC.com mobile app and web wallet allow you to view your crypto transaction history.

BTC.com supported currencies

BTC.com is a Bitcoin-biased wallet and will only support the legacy crypto coin Bitcoin and its Bitcoin Cash hard fork.

The wallet app is nonetheless highly versatile and can easily integrate with some of the most popular hardware wallets like Ledger Nano S. Anyone looking to add a security layer to the app or increase their digital assets portfolio without losing access to the Bitcoin mining pools connected wallet, should consider integrating it with their hardware wallet.

BTC.com cost and fees:

The BTC.com wallet is free. You will not be charged to download or install the crypto app. Neither will you incur any fees for storing your Bitcoins or Bitcoin Cash.

When sending Bitcoins to other wallets or exchanges, however, the bitcoin blockchain network may impose transaction charges. These are highly variable and largely dependent on the Crypto transaction volume.

Additionally, the bitcoin trading platform further adopts a highly dynamic fee structure. This allows you to chose from a three-tier fee system where low-fees translate to low transaction processing, moderate charges equal medium transaction speeds, and high transaction fees result in near-instant transaction processing.

BTC.com customer support:

BTC.com features an extensively elaborated FAQ page as well as a highly informative Blog. They both address some of the common challenges you might face during installation and when using the app.

You are also advised to join the BTC.com online community forum. Here, you get to interact with numerous BTC.com users – both newbie and experienced BTC.com clients – as well as the crypto wallet developers. The forum allows anyone to contribute by way of asking questions and providing solutions to common challenges faced by wallet users. You get to learn the tips and tricks of using the app and get help from developers.

More personalized queries regarding the use of the app can be directed to BTC.com’s customer support team by raising a support ticket, email, or through a call. Alternatively, you can message them on their different social media pages that include Twitter, Reddit, and Facebook.

What are the pros and cons of the BTC.com crypto wallet app?

Pros:

  • The fact that the BTC.com wallet doesn’t store the entire blockchain on your device makes transaction processing relatively fast and doesn’t eat up your phone’s RAM.
  • The wallet features a highly responsive customer support team that is available via social media, community forums, and even on the phone.
  • The Bitcoin wallet has the backing of one of the most reputable crypto industry players.
  • The bitcoin wallet features a wide range of security features, including the fact that it is hierarchically deterministic, open-sourced, and supports two-factor authentication.
  • Installing and using the app is quite straightforward.
  • Your private keys are stored in your device, giving you absolute control of your funds.

Cons:

  • The crypto wallet will only support two cryptocurrencies – Bitcoin and Bitcoin cash.
  • It doesn’t feature an in-built wallet, and neither does it allow for direct bitcoin purchases using fiat currencies.
  • While it has the backing of a reputable company, it still is an unregulated crypto wallet.
  • Its online nature exposes it to the inherent risks associated with online crypto-wallets.

Comparing BTC.com wallet with other crypto wallets

Comparing BTC.com to eToro

BTC.com can be said to have more security features than the eToro crypto wallet, including the fact it is developed on an open-sourced technology. eToro crypto can, on the other hand, be considered more convenient and easy to use. It, for instance, has an inbuilt exchange and supports both crypto-to-crypto and fiat-to-crypto conversions.

Unlike BTC.com that only supports two bitcoin-related cryptos, eToro supports 10+ cryptocurrencies and numerous fiat currencies. And while they both have the backing of highly popular technology companies, eToro is considered more reputable as it is also highly regulated.

Verdict? Is the BTC.com wallet safe?

Well, the BTC.com wallet has adopted some highly innovative security protocols that are aimed at keeping your private keys truly private. Its non-custodial nature, for instance, eliminates a possible central point of attack by storing your private keys in the device hoisting the wallet and not the company’s servers. Other features that endear BTC.com wallet to its users include its ease of use, compatibility with other wallets, and the fact that it is highly customizable.

We nevertheless believe that BTC.com could be even more popular within the crypto industry circles if it were regulated, supported more crypto coins and tokens, and featured an inbuilt crypto trading or exchange platform.

Categories
Cryptocurrencies

Copay Bitcoin Wallet Review: How Does It Work And Is It Secure?

Copay was developed by BitPay Inc. and introduced to the crypto industry in 2015. Its aim? To provide Bitcoin traders and enthusiasts with a single wallet that gives them absolute control over their funds. It is free and developed using open-sourced technology and is highly versatile. Key features that make this crypto wallet highly unique include its versatility and support for multiple operating systems, the fact that it is Bitcoin-specific, light, and highly transparent.

Copay was developed by BitPay Inc. and introduced to the crypto industry in 2015. Its aim? To provide Bitcoin traders and enthusiasts with a single wallet that gives them absolute control over their funds. It is free and developed using open-sourced technology and is highly versatile. Key features that make this crypto wallet highly unique include its versatility and support for multiple operating systems, the fact that it is Bitcoin-specific, light, and highly transparent.

Copay was developed by BitPay Inc. and introduced to the crypto industry in 2015. Its aim? To provide Bitcoin traders and enthusiasts with a single wallet that gives them absolute control over their funds. It is free and developed using open-sourced technology and is highly versatile. Key features that make this crypto wallet highly unique include its versatility and support for multiple operating systems, the fact that it is Bitcoin-specific, light, and highly transparent.

In this Copay Bitcoin wallet review, we will be explaining these features in detail, highlighting its security features, its pros and cons, and comparing it with equally popular wallets. We will also provide you with a step-by-step guide on how to install and activate the wallet, as well as how to send and receive Bitcoin.

Here is the detailed Copay wallet review:

Copay wallet key features

i) OS compatibility: Copay wallet is highly versatile and compatible with virtually any operating system. There is both a desktop and mobile app version of the wallet that is now compatible with all popular operating systems, including Windows, Linux, macOS, Android, and iOS.

ii) Bitcoin-specific: Unlike most other wallets that host hundreds of cryptocurrencies and altcoins, Copay is Bitcoin-specific. This implies that you can only deposit Bitcoin and its hard fork Bitcoin Cash into your Copay Wallet.

iii) Multiple accounts: There is no limit to the number of Bitcoin and Bitcoin Cash addresses you can host on the Copay wallet. This means that, unlike most other wallets that will only host one wallet address for each cryptocurrency or altcoin, you can hold as many private keys as you wish on the Copay Wallet.

iv) Compatible with hardware wallets: Copay bitcoin wallet is also compatible with several highly-secure crypto wallets, including Trezor and Ledger Nano S.. Such integration ensures that you get to enjoy the security aspects of an offline hardware wallet and the convenience of a mobile app wallet.

Security Features 

Password:

Like any other cryptocurrency wallet, Copay is secured with a multi-character password. You get to set this password when installing the wallet.

Recovery seed:

During the Copay wallet installation and activation process, you will be provided with a 12-word recovery seed. Record it on a piece of paper and store it in a secure environment. Note that the seed will be needed to reset the wallet password or recover your private keys should you lose the device holding the wallet.

Hierarchically deterministic:

The Copay Bitcoin wallet is hierarchically deterministic. This means that the wallet automatically generates new public and private addresses for every transaction, which makes it hard for hackers and other third parties to track your Bitcoin transactions.

Bitcoin Payment Protocol (BIP):

This feature is designed to guide users when making payments and prevent sending cryptocurrency to the wrong address. Technically, addresses are just a long line of numbers and letters, and often crypto users get them wrong.  BIP ensures you are sending it to the right address by helping you verify the wallet address before sending bitcoins.

Open source:

A Copay Bitcoin wallet is developed on an open-sourced technology. This guarantees its transparency as it is subjected to a lot of scrutiny and vetting by the crypto and blockchain industry experts. That further enhances its security.

Multi-signature:

Copay wallet allows multiple users to use one wallet. You can think of it as a joint account where 2 of 3 parties must sign to authorize the execution of a transaction.

Copay bitcoin wallet ease of use

Copay Bitcoin wallet has one of the friendliest user interfaces. The wallet is also highly customizable and allows you to tweak such aspects as the background themes and wallet name. Both the desktop and mobile wallet apps are also multi-lingual and currently supports seven of the world’s most popular languages, including English, French, Latin, Bahasa, Portuguese, Russian, and Turkish.

In addition to the highly interactive user interface, the Copay Crypto wallet also keeps you up to date with your digital asset balances and spending. The wallet app will, for instance, send you push notifications about your crypto balances to your phone’s display. And every time you spend or transfer cryptocurrencies, the wallet automatically sends you transaction receipt on your email.

In the case of shared or group payments, Copay Bitcoin wallet will present you with an easy to understand proposal on how to split the pay.

The multi-wallet feature also comes in handy when budgeting as it lets you organize your crypto balances and allocate funds to different types of expenditures/savings. You can, for example, create a family savings wallet, personal expenses wallet, end-year vacation savings wallet, retirement savings wallet, or even the Birthday in Las Vegas wallet. This feature comes in handy for budget-conscious individuals looking to have better control over their financial life.

Supported currencies 

Interestingly, the Copay wallet is specially designed to only support Bitcoin and Bitcoin Cash. There, however, is no limit to the number of BTC or BCH private keys you can store in the wallet or the number of wallets (partitions) you can create on Copay.

If you wish to hold, trade, or invest in other Altcoins like Ripple, Ethereum, Litecoin, or Dogecoin without letting go of Copay Bitcoin wallet, we suggest that you acquire a Hardware wallet and integrate it with the Copay crypto mobile app.

Copay bitcoin wallet costs and fees

BCopay Bitcoin is free. You will not be charged when you download, install, or store coins into the crypto wallet app. You can download the app from both Android and iOS app stores, on the official BitPay website or GitHub.

You will nonetheless, be charged network transaction fees every time you transfer Bitcoins and Bitcoin Cash out. These charges will vary according to the transaction volume and are collected by network administrators and not Copay.

When transacting via the Copay Wallet, you also have the choice of determining the transaction fees charged per transaction. The wallet has the ‘Super Economy’ as well as the ‘Urgently’ payment options.

Like the name suggests, ‘Super Economy’ is denoted from friendly transaction fees for slow transactions while the ‘Urgently’ pay plan involves higher transaction fees for faster (near real-time) transaction processing.

Copay bitcoin wallet customer support

Copay Bitcoin Wallet’s customer supports starts with an elaborate explanation of everything you need to know about the wallet on GitHub. On this page, you will also have access to the wallet’s updated version of both desktop and mobile apps, guidance on how to use and interact with the wallet app, and also learn everything there is to know about Copay.

For more personalized assistance, contact the Copay Bitcoin wallet team through their official handles on the different social media platforms.

How to activate a Copay Wallet

Step 1: Go to the official website and click on “Get Copay.”

Depending on the platform you intend to use, the first step should be to register your details with the site.

Step 2: Choose the Copay App version.

After clicking on “Get Copay,” you will be automatically redirected to GitHub, where you can select your desired app to install. Select the most recent app that corresponds with your device (mobile or desktop OS) from the list and download it.

Step 3: Click “Get started” after the download process completes

This opens the “Copay Installers” that provide you with all the important information about your Copay Bitcoin Wallet. It also hosts the registration process that captures such basic data as your name and email address.

Step 4: Back up your 12-word seed phrase.

The installer will also provide you with 12 random phrases known as the recovery seed that backs up your wallet app. Write them down on a piece of paper and keep them safe. You will need them to reset the app password or recover your private keys.

Step 5: Verify that you have captured the seed words correctly.

Confirm that you have correctly captured the recovery seed phrases.

Step 6: Add Bitcoin/Bitcoin Cash and start transacting

Your Copay Bitcoin wallet is now set. You can now add Bitcoin and Bitcoin Cash crypto coins and start transacting.

How to add/receive Bitcoins to your Copay wallet

Step 1: Start by launching the app and clicking on the ‘Receive’ icon on the app dashboard. This will reveal your copay wallet address in the form of letters and a QR Code.

Step 2: Copy the wallet address and send it to the party from whom you wish to receive Bitcoins or have them scan your app’s QR code.

Step 3: Wait for the crypto to reflect on your wallet. How long the coins take to reflect largely depends on the state of the Bitcoin network.

How to send Bitcoin or Bitcoin Cash via your Copay bitcoin wallet

Step 1: Start by launching your Copay wallet app. Click on the send icon and chose the crypto you wish to send. (Note that the send icon will only appear if you enough crypto to transfer)

Step 2: Enter the fund recipient’s wallet address or scan their QR Code.

Step 3: Enter the amounts of Bitcoins or Bitcoin Cash you wish to send

Step 4: Confirm that the number of Bitcoins or Bitcoin Cash and the recipient’s wallet address are okay before hitting send.

Copay Wallet Pros and Cons

Pros:

  • It has a user-friendly interface with customizable background and wallet names
  • Features multi-signature settings and is hierarchically deterministic
  • It is built around an open-sourced and highly vetted blockchain technology
  • Copay wallet is highly versatile and compatible with different operating systems
  • The Copay wallet app can be linked to an external hardware wallet
  • Uses Bitcoin Payment Protocol (BIP) to protect users from sending funds to wrong addresses

Cons:

  • It uses third-party servers to access Bitcoin Network data
  • it only supports Bitcoin and Bitcoin Cash
  • The app doesn’t support more secure technologies like two-factor authentication

Copay Wallet vs. Other Wallets- How Does it Compare?

Copay wallet vs. eToro

When compared to such other online wallets as eToro, Copay carries the day because of its ease of use. The app is highly customizable and allows its users to create partitions (mini wallets) that promote budgeting. It also allows you to tweak the apps theme and background colors as well as change your wallet’s name.  Plus, while Copay will only support two crypto coins, there is no limit to the number of private keys or wallet addresses that Copay can hold.

However, unlike Copay, which only hosts two crypto assets, the eToro wallet app can hold up to 700 cryptocurrencies and tokens. One may also consider eToro relatively safer as it implements more security safeguards on the wallet like two-factor authentication or military-grade encryption. Moreover, the eToro wallet app has the backing of one of the most secure and most popular crypto trading platforms. The same cant be said of Copay’s backer – Bitpay.

Copay wallet vs. Ledger Nano S

Copay Wallet app boasts convenience, ease of use, and its free to acquire as its key strengths when compared to the Ledger Nano S hardware wallet. Unlike Ledger Nano that sells for around $60 and has a rather complicated installation process, Copay is free to download, install, and use. The fact that the app is installed on your phone and still accessible as a chrome browser extension makes it more convenient for regular transactions.

Unlike the Copay crypto app or software wallet, however, the Ledger Nano S hardware wallet is more secure and harder to breach. It stores your private keys offline and is, therefore, more secure against online hacks or viruses that wipe off phone or desktop data. Moreover, Ledger Nano supports more than 1,000 cryptocurrencies and tokens against the two hosted on Copay.

Final Verdict: Is Capay safe?

The Copay Bitcoin wallet is relatively safe and has instituted reasonable security safeguards against unauthorized access to your private keys. They have a password mechanism to prevent, encrypt all data held by the wallet, and provide you with a 12-word backup seed.

In addition to this level of security, we liked the convenience and the versatility of the wallet given that it is compatible with virtually all the popular operating systems and is available on the move via the Copay mobile app and online via the software wallet.