BTC Sessions is a new YouTube video channel dedicated to beginners and newcomers to bitcoin, which covers different areas of bitcoin from a layman’s perspective. In the second video, BTC Sessions walks viewers through how to install and use the Copay wallet.
Copay is a bitcoin wallet created by BitPay, the bitcoin payment processing company, which provides users with a mobile app to store, send, and receive bitcoin. The main feature of the Copay wallet is the multisig functionality for enhanced security and transaction co-signing for businesses and groups. Copay is open source code and available on Apple iOS, Android, Windows Phone, or a hosted web wallet.
In the video which is embedded below, BTC Sessions walks viewers through each step of setting up a Copay wallet, which is helpful for users who have never seen or used it before. In addition, covered in the video are different areas of the wallet including backing up your wallet with your seed, which is an important part of the setup process, and sending and receiving transactions.
Coinbase was recently integrated into the Copay wallet, providing users with the option to buy and sell bitcoin using the wallet for a more seamless and universal experience within a single bitcoin application.
What is a bitcoin wallet?
If you’re new to bitcoin, you may be wondering just what is a bitcoin wallet and how do they work? Bitcoin wallets are software that store the bitcoin private keys that you need to access a bitcoin address and spend your funds. They come in different forms, such as web wallets, bitcoin clients (programs), mobile applications, or even hardware wallets.
Bitcoin wallets are primarily made to allow users to send and receive bitcoin from the wallet. Just like with fiat currency such as dollars or euros that you store in your physical wallet, you can store your digital bitcoins in your electronic wallet.
There are many bitcoin wallets available on the market besides Copay, depending on what kind of features you are looking for.