Copay Bitcoin Wallet

First I would like to say this is an easy to use hot wallet in the vein of coinbase simplicity. Fees however are crazy. I don’t know where they’re sourcing their data. It doesn’t match up with any fee tracker site. And obviously more expensive than any subsidized amount from other wallets or exchanges that have agreements to swap coins basically for free by bypassing the blockchain on certain transactions. Fortunately you can choose your fee. Depending on when you send eco price can equal normal speed elsewhere. Its just annoying I have to look it up myself before sending. The upside is its not all bad. Other consumer oriented products that favor convenience and simplicity are often far more expensive.

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Let's start off with the goods. Copay is quite useful to hold small amounts of money likely between $1-500 as the user interface is quite nice, and it is safer then an exchange. That's about the only positive I see. Some negitives include the fact that they charge nothing to move you money in, which seems fine and makes you love the app for about 3 months, but then when you take you money out they charge insane amounts. For example I moved, didn't even sell just moved, $1500 from copay to my ledger nano s when I bought it and I was charged $20 in fees. I am just now realising that I also have similar feelings about Coinbase in the way that they charge crazy fees and prey on the beginners. Lastly it says it supports bitcoin cash, and it shows up on your wallet, but you are unable to move you BCH to other wallets so it's becially just there to show you how much money you could have had if you had a proper wallet. IN CONCLUSION, copay is less then mediocre, charge crazy fees, hardly support bitcoin cash, but have a decent user interface. I WOULD HIGHLY RECOMEND taking the bitcoin that you would have placed in copay, taking the $100 it would have charged you in fees by the time you are done with it, and buying a Ledger Nano S, which is really the only way to store cryptos. Thanks, Ethan

This is a clean-looking wallet that functions exactly as a wallet should. Since it features HD key creation, new receive addresses can be generated on demand. The mining fee can be adjusted (“urgent”, “normal”, “economy”, etc.) and the breakdown of fees during a transaction is clear. The three things I’d really like to see are SegWit support, optional Bech32 Bitcoin addresses, and the ability to manually set fees. Speaking of fees... anyone who complains of having to pay high fees as if that’s the fault of CoPay/BitPay fundamentally misunderstands Bitcoin. The more full the mempool is, the more users have to bribe the miners to include their transactions in the next block. This isn’t a fee that’s charged by CoPay.

It seems like a lot of the negative reviews are about fees... Bitcoin has fees... that’s not a Copay thing... that’s how Bitcoin works... sometimes those fees get pretty high when the mempool is congested... they would be high anywhere! Also, some people seem to misunderstand the multi sig wallets... you setting up a regular wallet and sharing the seed words isn’t multisig... you each would have your own! This app is actually wonderful! Easy to use and works perfectly if you actually understand what you are doing!

This is one of the most user friendly apps to store Bitcoin on a phone. I love it and it asks for zero personal data. Just make sure you keep you backup seed! For all you guys saying Bitcoin Cash isn’t working in the reviews, you need to do some research. Copay uses different addresses than other Bitcoin Cash wallets. (A five second google search explains this). So just convert the addresses and BCH works!