Copay is a wallet service provided by BitPay. BitPay has been established since 2011 which gives them a long history in the cryptocurrency business. Users BitPay is mainly a merchant facilitator. The wallet supports Bitcoin. There is no support for any other cryptocurrencies. Users are in control of their private key.
Copay is hierarchical deterministic. This is one of the key features promoted by Copay. Multiple addresses can be generated which makes it easier to segment accounts. The wallet can be effectively restored with any of the backups from these addresses also. The multi-signature functionality is also heavily promoted with group use cases put forward as a key selling point. The code is open source which means the level of security can be assessed. This also means that anyone can adapt the code. The code is an ongoing project with developers. As well as the wallet, the server is also open source. Copay also verifies your payment when it is sent to a Bitcoin Payment Protocol enabled merchant.
Copay is available on web browsers, Android, and iOS. It has been noted to be easy to use. The integration with BitPay seems to be Copay’s key selling point with wider support for cryptocurrencies being provided by other competitor wallets. The project is still ongoing with development so it is not recommended to be used until it is finished development and confirmed to be secure.
- Bitpay established in 2011
- Hierarchical deterministic
- Multi-signature functionality
- Open-source wallet and servers
- Payment verifications
- Available on browsers, Android, and iOS
- Users are in control of their private key
- Only Bitcoin supported
- Still undergoing development