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CoinPayments Multi Currency Wallet c Review

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CoinPayments Multi Currency Wallet c

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About CoinPayments Wallet

CoinPayments is a mobile wallet that boasts extensive support for a wide variety of cryptocurrencies. It caters to both iOS and Android users. While users' private keys are stored by CoinPayments, they are encrypted to enhance security. Impressively, the wallet supports over 910 altcoins, offering a more diverse selection than many other wallets. Additionally, it provides the capability to calculate wallet values in 27 different fiat currencies and allows users to convert between supported coins.

Wallet Characteristics

However, it's important to note that CoinPayments is not hierarchical deterministic. On the positive side, it does feature multi-signature functionality and offers users the option to enable two-factor authentication for added security.

Merchant-Focused Features

CoinPayments also caters to merchants with its checkout system, facilitating point of sale transactions. The fee for transactions within the checkout system is 0.5% on incoming transactions. Similarly, using the CoinPayments API incurs a 0.5% charge on incoming transactions. As a result, CoinPayments is primarily tailored for merchant customers.

Considerations for Everyday Users

For everyday users, it's worth considering that CoinPayments may not provide the same level of control over private keys as some other wallets on the market. Security-conscious individuals might explore alternatives that offer more direct control over their private keys.

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Pros & Cons

  • Supports a wide variety of cryptocurrencies
  • Available on both iOS and Android platforms
  • Offers wallet balance calculation in 27 different fiat currencies
  • No fees, except for merchant use
  • Enables in-wallet conversion of supported cryptocurrencies
  • Not hierarchical deterministic
  • Lacks multi-signature functionality
  • Users do not have control of their private keys

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