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Copay Bitcoin Wallet

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About Copay Wallet by BitPay

Copay is a wallet service provided by BitPay, an established player in the cryptocurrency industry since 2011, bringing with it a wealth of experience. BitPay primarily focuses on facilitating cryptocurrency transactions for merchants. Copay, however, exclusively supports Bitcoin, with no compatibility for other cryptocurrencies. Users maintain control of their private keys, ensuring ownership and security.

Key Features

Copay stands out with its hierarchical deterministic functionality, allowing for the generation of multiple addresses to segment accounts. These addresses serve as effective backups, simplifying wallet restoration. Copay heavily promotes its multi-signature functionality, presenting it as a key selling point with group use cases. The open-source nature of Copay's code enables security assessment and customization, both in terms of the wallet and the server. Furthermore, Copay verifies payments when sent to a Bitcoin Payment Protocol-enabled merchant.

Accessibility and Integration

Copay is available across web browsers, Android, and iOS platforms. Users have found it to be user-friendly and easy to navigate. While Copay's focus on Bitcoin integration is its primary strength, other wallets may offer broader cryptocurrency support. It's worth noting that Copay is an ongoing project with active development, so users should exercise caution until its security is thoroughly confirmed upon completion.

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Pros & Cons

  • Established in 2011 by Bitpay
  • Employs hierarchical deterministic technology
  • Offers multi-signature functionality for added security
  • Both the wallet and servers are open source
  • Supports payment verifications
  • Accessible on web browsers, Android, and iOS platforms
  • Users retain control of their private key
  • Supports only Bitcoin
  • Continues to undergo development

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