IPayYou Wallet

IPayYou Wallet Review

iPayYou is a wallet service which supports both Bitcoin and Bitcoin Cash. iPayYou have been established since around 2014. The aim of iPayYou is to make sending and receiving Bitcoin as simple and straightforward as possible. The interface of iPayYou is very intuitive and users can easily find sections for their desired task. Users give up control of their private keys but the private keys are encrypted on iPayYou’s servers. iPayYou also aims to integrate with merchants to make using Bitcoin for everyday payments easier. They have implemented amazon direct which allows users to purchase items from Amazon with their Bitcoin. Also, users can load gift cards with Bitcoin and use the gift cards at popular merchants such as Starbucks. Overall, the wallet support is limited with just Bitcoin and Bitcoin Cash being supported. There is no support for fiat currencies in the wallet but it is a benefit that iPayYou has systems in place that make it easier to use your Bitcoin with Amazon and other popular merchants.

The wallet is not hierarchical deterministic. There is no multi-signature functionality and the code is not open source. With the code not being open-source, it is difficult for users to accurately assess the level of security. There is also no option for users to enable two-factor authentication which is typically standard across wallet services.

The key benefit of using iPayYou is the integration with Amazon and gift cards. In terms of security, it is an advantage that the data is encrypted but there are other more secure wallet options on the market.

IPayYou Wallet WAS SHUT DOWN IN 2020!