We are used to keeping our money in wallets. Digital money in this case is no exception. For them, special data stores were invented, in which information about your savings is stored in the form of a code. This code will be activated if you are going to pay for any purchase with digital currency or exchange one cryptocurrency for another.
There are many wallets that differ from each other in terms of convenience and interface capabilities, as well as the level of protection of savings from hackers who can hack into the wallet and withdraw digital money from there.
Today we present to you a CoinPayments Wallet review and explain how to use CoinPayments Wallet . This is a very popular wallet for storing and exchanging a large number of cryptocurrencies, as well as convenient participation in investment projects that accept a variety of coins.
What is CoinPayments?
Coinpayments Wallet is an easy-to-use cryptocurrency wallet that is also available on mobile devices. The wallet allows you to buy, sell and trade in various currencies. Supports 2275+ different currencies, including all ERC20 tokens, and this number is constantly increasing.
CoinPayments was launched in Canada in 2013 and offers payment processing for businesses. A business can use this service to easily accept bitcoin and other altcoins with a small fee. In addition, merchants have access to a variety of easy-to-use POS interfaces, APIs, and website plugins.
CoinPayments boasts almost 2.5 million providers who use their services in 190 countries. It is by far the most comprehensive trading platform for paying with BTC and other cryptocurrencies.
CoinPayments is an online wallet for "hot" storage of digital currencies. But at the same time, it has a fairly high level of protection.
So, two-factor authentication is mandatory. At the same time, you will receive an e-mail both to confirm your entry into the system and to perform any actions with currencies.
Hot wallets (or fast) wallets store information about the state and all transactions of the user in the blockchain system and allow you to instantly send money if you have access to the Internet. Precisely because all the data about it is stored on the network, it can be insecurely protected. And hot wallets are mobile or paper.
The application is considered to be perfectly optimized and easy to use. It allows you to access your wallet, conduct transactions (buy, sell and exchange), and accept payments in person.
Since the Coinpayments wallet was mainly developed as an online wallet, you might think that the mobile version has not been given enough attention. This is logical, but if you look for reviews, you can find numerous positive reviews about the application.
Benefits and features of the wallet
- Over 2275 cryptocurrencies in one place! You can receive, store, and withdraw them!
- Exchange of one currency for another (not available for all currencies!).
- The BitGo Instant feature is an accelerated transaction for transactions with bitcoin. In this case, the transfer will be carried out several times faster.
- All cryptocurrencies can be stored in a special “safe” for additional security.
- Support for automatic exchange for some currencies when transferring, which can save a lot of time.
- Support for mobile applications.
- Two-factor authentication by default for login and for any action.
- The system commission is only 0.5%!
- Using the "Safe" service, you can restrict access to coins for a period of time you choose, until the expiration of which the use of coins will be impossible.
- Separate storage of each coin on the wallet, which enhances the protection of your funds.
- The possibility of exchanging cryptocurrencies at the internal exchange rate of the service. Additionally, you can set up automatic exchange when the price of the instrument you are interested in is reached.
- A cross-platform system that allows users to work from smartphones (Android and iOS) and other mobile devices.
- Multilingual interface of the system, including a translation into Russian.
On the site, as elsewhere, there is a "Frequently Asked Questions" section, which discusses the main questions that may arise during work, if the answer to your question was not found there, then the technical support service is ready to help you find the best solution.
How to use CoinPayments Wallet?
Have you chosen CoinPayments Wallet and don't know where to start? We will advise you. The registration process and further actions will not cause you any difficulties!
Registration and verification
So, we will tell you how to register on the website www.coinpayments.net.
- First, a window appears in which we click "Start". After that, you need to create a profile, you need to enter data in the empty fields: login, email address, password. You will receive an email with a link to activate your account, follow it.
- As soon as you activate your account, log in to your profile and you will receive an email again, but with a login confirmation. We go through authorization, indicating a two-factor code in the column, this must be done at each login.
An interesting point: if you have an online store or site that you want to connect online payment, then creating an account as a seller can be a great choice. Coinpayments has created modules (extensions) for the popular CMS so that you can accept payments on your website in cryptocurrency.
This completes the registration process.
After registering and entering your personal account, you will see a page with cryptocurrency wallets. On the left is the name of the coin, in the center is the balance in coins and the equivalent in dollars, and on the right are the commands for possible operations with your wallet. For each currency, you will need to open your wallet address or, if desired, several addresses.
For example, you want to top up your Bitcoin balance. To do this, open Commands - BTC Options - Make a deposit / Receive. After that, in the next window, you need to add a New Deposit Address, in other words, generate a new address for your wallet. After the address is generated, you can use the wallet. Copy the address and transfer here your digital coins from your other wallet. If you do not have coins yet, then you can purchase them through exchangers.
Do the same with all cryptocurrencies that you need. Using various services on the Internet, you can find profitable exchangers that make direct transfers to Bitcoin, Litecoin, Ethereum, Ripple, Monero, Dogecoin, Dash, Zcash and other wallets.
Easy and fast work with CoinPayments Wallet in New Zealand is becoming more and more popular. The wallet is also used to store cryptocurrencies - you can store coins in a safe by selecting the "close in a safe" option. In the system, you can transfer cryptocurrencies from one to another.
When making transactions, check the data well. Coins to the wallet arrive within a short time.
Methods of deposit/withdrawal of money
Depending on the benefits, convenience and reliability, you need to choose the best way for you to cash out. The most widely known ways to withdraw money:
- Through an exchange;
- Through the account of the electronic wallet;
- With the help of the exchange;
- With the help of individuals.
With the help of the exchange, it is easiest to cash out the balance with the cryptocurrencies Ethereum and Bitcoin. But if you have a different currency, then just select an exchange that supports your currency. This option will take longer. The reliability of the exchange can be assessed using reviews, but there is a high probability of meeting scammers. After choosing an exchange, register and add money to your wallet. Then the owner puts the cryptocurrency up for auction, a buyer is found. After the sale of coins, the account will have currency in the form of dollars, euros, etc. In the withdrawal menu, click on the appropriate one (via a card, webmoney, etc.).
The option of cashing out funds through exchange services requires monitoring. Because each exchanger has different commissions, rates, partner banks, efficiency of work, the minimum withdrawal amount, and the like.
If you have at least a formal passport in WebMoney, you can transfer funds there by creating a wallet for the WMX cryptocurrency.
How to transfer coins from wallets in the CoinPayments system to other wallets?
Transferring your coins to other wallets is easy! Again, in the "Options" you should select "Send / Withdraw Funds". A translation window will open. Enter the amount and address of the wallet to which you want to send coins.
How to close the coins in the "safe" on CoinPayments?
The safe provides additional protection for your money. You can close any coin in the safe. To do this, select "Close in the safe" in the "Options".
For long-term storage, it is recommended to close the coins in the Safe.
When closing in the safe, you will be prompted to choose the time that the coin will remain inaccessible after the lock is released. That is, you "put" the coin in the "safe" and set, for example, 24 hours. This means that as soon as you manually remove the blocking, you will not be able to use the coins for another 24 hours.
So, in summary, we can say that CoinPayments Wallet in New Zealand offers a lot of interesting tools, for example: automatic exchange of coins from one cryptocurrency to another, the ability to “lock crypto in a safe”, BitGo security technology, $PayByName. The wallet is liked by many users with its pleasant interface and clear menu. When you look at a new wallet for digital coins, you immediately understand whether you will personally use this wallet. This is exactly the case when you confidently say YES! Register and start using your wallet now! It is very convenient, easy and simple!