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I have a few coins in a copay wallet, which is a BIP32 wallet. Does that mean that wallet is under my control and my coins are safe?
by wereHamster 9y ago
I have a few coins in a copay wallet, which is a BIP32 wallet. Does that mean that wallet is under my control and my coins are safe?
- Taek 9y agoIf you are the only one with access to the secret key, then you control the coins. If someone else has the secret key (or keys), then they control the coins. I believe copay is okay from a brief glance, but I honestly can't tell if they give the keys to Bitpay for backup or not. The safest wallet is bitcoin-core, though there are plenty of reasonably safe options.
- wereHamster 9y agoI used bitcoin-core before, but I wanted to switch to a more light-weight wallet, and one which is based on BIP32. At that time copay looked like the best option. And because it's BIP32, I should be able to transfer the wallet to another compatible implementation without any problems.