Bitpay has made it possible for many businesses to make Bitcoin a means of payment, and that is why they created the Copay wallet, which is widely accepted all over the world. The Copay wallet makes use of simple processes to complete its transactions, yet it supports the use of Bitcoin and the Bitcoin cash. Although it does not make use of the two-factor authentication commonly used by cryptocurrency wallets to ensure safety and security, it gives room for multiple signatures. The addresses of the Copay wallet are usually generated by hierarchical determination.
Of course, Copay does not employ the use of two-factor authentication; it, however, is backed by developers to keep investors’ assets safe and secured. This open-source wallet can be used for payment on certain popular Business websites like Amazon. It also allows for group payment using shared wallets. When this is done, users get updates from time to time through their emails and push notifications. In Copay, the keys are stored locally to ensure device-based security.
The investors are clearly in control of the Private keys that are needed to access their Bitcoin in the Copay wallet. The software wallet can be installed on both PCs and Mobile devices. Also, it supports multiple signatures, and it is straightforward to use even for beginners in the industry. Before using a Copay wallet, you need to know your public address. This can then allow a safe transfer of funds to your wallet from others, and you can also send bitcoin by clicking on the send ICON that is located on the taskbar.
