Copay is a hierarchical deterministic (HD) bitcoin wallet that was built to secure BitPay funds. It is a multi-signature wallet, which means that a single wallet can have more than one user. This makes it ideal for businesses where multiple signatures are needed to secure a transaction. One cool feature that Copay includes is the ability to send crypto via testnet.
This HD wallet is also completely open-source and is not only accessible on your desktop but also through a mobile and web interface. For computer users, downloads are available for Windows, Mac, and Linux.
Currencies Supported: Bitcoin
Pricing: Free. Transaction fees apply for sending bitcoin. Costs are set by the blockchain community and based on the transaction size.
Payment Method: Convenient payment proposal flow, and payouts in over 50 currencies.
Features: Can secure your digital currency with one or multiple signatures; can open a shared wallet with co-workers or family.
Other Benefits: Available for both desktop and mobile devices
Hard Wallet or Digital Wallet or Both: Digital
Desktop or Mobile App: Mobile
Control Rating: You Control
Type of Verification: HD
Vulnerable or Secure Environment: Secure
Privacy Rating: High
Best feature: Use with family and friends; multi-signature technology for added security.
No other feature is more important to a crypto wallet than security. Copay isn’t as safe as a full node wallet like Bitcoin Core. However, Copay offers its users a software platform that can be linked to a hardware wallet. For most users, this will be more than enough security.
The most impressive security features the Copay wallet has are its multi-signature HD settings. These alone make the Copay wallet safer than most. And remember Copay’s code is open sourced so it’s always being reviewed and updated with improvements.
Overall, the Copay wallet is a secure platform to store Bitcoin and Bitcoin Cash information. However, its reliability will always be affected by the servers it uses for network updates.