Copay is a feature rich, open source bitcoin wallet from Bitpay.
Bitpay is a leading merchant in the bitcoin ecosystem.
Copay is the most popular product by Bitpay.
The wallet is hierarchical deterministic, which means, it has an optimized wallet-recovery system, that eliminates the chance of loss of funds.
One characteristic that makes this wallet such a hit is its ability to change addresses over successive transactions.
Copay has no two-step authentication, unlike, say, BTC wallet, which is an obvious downside with real security risk.
Outbound transactions from Copay must be signed by more than one party; in this way, transactions are error-free, and most importantly, frauds are prevented.
The multi-sig functionality can be tailored to your liking, and it is advisable to optimize it for maximum gains, by first linking the wallet to enough users.
The wallet may have more than one user.
Which makes it most convenient for enterprises and holders of joint accounts.
The users will have to approve all outbound transactions.
The wallet safely stores multiple bitcoin wallets and allows for privacy between users.
Secure Payment Verification
Copay is among the first wallets to support full bitcoin payment protocol, and so, a Copay user may have utmost confidence while pressing the “send” button, as Copay will verify that the payment has gone to the right entity, as long as they have the payment protocol enabled.
Bitcoin Testnet is supported by Copay, which means, developers may test new bitcoin applications over multiple Operating Systems, including iOS and Windows Phone.
Both the Copay app and the Copay server are open source.
So, Copay users are at liberty to run their own servers and host the Copay App.
Copay is the result of many hands coming together to make a perfect bitcoin wallet.