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Coinapult Bitcoin Wallet Review
Coinapult Bitcoin Wallet
(0 reviews)
Site Rank: 32

Coinapult is a bitcoin wallet which has been established since 2012 giving it a long-standing career in the cryptocurrency industry. They offer a number of different services including brokering, market making, and applying bitcoin to business as well as the wallet service. The wallet supports both Bitcoin and Dash and through a partnership with Crypto Capital, they have support for exchanging to fiat currencies.

The wallet lacks some key features which other wallets have. The wallet is not hierarchical deterministic. The code is not open-source. There is no multi-signature functionality. Users do have the option to enable two-factor authentication on their accounts. One other nice feature the wallet has is users can send Bitcoin to a user's email address which is convenient for those who do not want to deal with long cryptocurrency addresses. Users can also send funds via SMS. In terms of security, Coinapult entered a partnership with Crypto Capital who are responsible for securing users funds. Crypto Capital store users funds in cold storage. There have been complaints online from users who have deposited or withdrawn to their wallet through Crypto Capital with some saying funds have taken weeks to appear in their accounts.

Coinapult is a very open wallet with a focus on being easy to use. Due to this openness, Coinapult has noted themselves that private keys are at risk of being hacked. With this disclosure by the company itself, it is highly recommended for users not to store large amounts on the wallet. It's key selling points are its ease of use and its ability to exchange with fiat currencies.

Pros & Cons
  • Established since 2012 so long-standing in the cryptocurrency industry
  • Supports fiat currencies through a partnership with Crypto Capital
  • Users can enable two-factor authentication
  • Big focus on ease of use
  • The company has noted that the private keys of users can be hacked
  • There have been complaints from users that depositing and withdrawing through Crypto Capital has some issues
  • No multi-signature functionality
  • The code is not open source