CoPay: Secure Open Source Bitpay Multifunctional Wallet?
It’s becoming a quite common to read and hear about cryptocurrency online and in the media. Arguably the most popular of all the cryptocoins is Bitcoin. BTC is an online form of payment that allows users to make transactions anonymously.
As people are becoming better informed on the ways to purchase BTC online, the value of the coin is increasing. You can even purchase BTC from physical Bitcoin ATMs around the world, although most reports on these machines boast complaints about high usage fees.
Just like any other currency you need to somewhere to store your Bitcoin. You can do that in a wallet. There are many options for wallets. Online (or cloud-based wallets) for increased convince. Mobile wallets, available as apps for your smartphone. Even paper wallets, for more long-term investments that require more security.
These wallets are all very similar in that they act along the lines of a checking account, only one person is able to make a transaction using the wallet.
A Different Way With CoPay
Instead of only allowing one user to authorize payments, CoPay allows numerous people to use an account with their group approval feature. Transactions to other coin wallets require action from all account users before the payment can proceed.
If you have multiple people putting funds toward a project this would be a perfect option. Payment cannot proceed until everyone has signed off on the transaction.
If you are concerned about accidentally sending your payment to the wrong place, CoPay has got you covered. CoPay is now one of the first wallets to utilize the Bitcoin Payment Protocol (BIP 0070-0073) system. Using this system, you can confirm that your payment has been sent securely to the correct destination.
Having multiple users, it only makes sense that CoPay can store multiple wallets. Keeping track of accounts becomes a whole lot easier with this feature. Allowing both business users and those users who are privacy conscious to keep their funds separated easily.
Open source and open sever. Bitcoin power users can take total control over their finances by deploying their own take on the Copay apps, which allow users to have more creative control over the grand scheme of things. CoPay, having open source programming means that new features from developers are being added to the wallet and server all the time.
How Do I Get Copay?
The huge rise in the cryptocurrency market has made it very accessible to get Copay. It’s as easy as owning a smartphone or computer. CoPay can be found on the google play store, this can be found on all phones with android operating system. The iOS app store, this can be found on your iPhone. Also you can download the app straight to your computer, the app is available on Mac OS X, Windows and Linux.
Due to its ability to have multiple account users, also store multiple wallets at once. CoPay would benefit users who are looking to store their bitcoin in a safe and multi-functional wallet.