For those who often send payments in digital currencies from a computer, online wallets are a great option. Today, there are many wallet options that are proliferating in crypto communities, from ultra-secure cold-storage wallets to regular physical wallet generators and mobile wallets that can be accessed on the go. Sometimes a reliable wallet is the perfect sweet spot for even the most experienced users. As with any other cryptocurrency wallet, there is a balance between security and convenience when choosing a wallet to invest in cryptocurrency. In this article, we present of the CoinPayments wallet review. Why is such a wallet very convenient and what are the advantages of CoinPayments Wallet in South Africa?
What is a CoinPayments wallet?
A cryptocurrency wallet is a wallet that allows for secure storage and various transactions. Whether a cryptocurrency is stored securely or not, a lot depends on a wallet that is as secure as its private keys. Coinpayments introduces a cryptocurrency wallet that is very easy to use. It is available on both Android and iOS mobile devices. The wallet will help you to buy, sell and trade in various currencies. Stores over 2,270 different coins, and this is not the end - this number is constantly increasing.
Coinpayments is an organization specialized in digital currency payments and transactions. Her website, coinpayments.net, is both a trading platform and a digital wallet for storing currencies.
The wallet was created in 2013 in Vancouver and is the first digital currency settlement solution. Since then, it has grown to support payments in bitcoins and 2,270+ currencies for over 2.4 million user and business accounts in over 200 countries. The easy-to-use platform offers built-in plugins and integrations for all major ecommerce platforms. With good performance of FIAT settlements, hosted wallets, conversion, the wallet occupies a leading position in the implementation of cryptocurrencies.
Let's take a look at the wallet security issue, because it is very important! For the digital currency industry, security should always come first. Let's go back to the event that happened in 2017. Hackers managed to break into the secure storage database of Ripple coins on the Coinpayments platform.
Coinpayments eventually made several statements in this regard and in December of the same year (6 months after the hack) refunded the coins to their rightful owners. The team assured the community that this will not happen again. Most of them were sympathetic. Many people liked the company's approach to resolving the current situation and the transparency of their actions when returning coins. This fact did not affect the future success of the company.
Apart from this event, Coinpayments has not been seen in such unpleasant incidents. This is a rare occurrence for a company with similar ambitions.
This crypto wallet is reliably protected by blockchain technology, and also has additional security measures - two-factor authorization and instant notification of any actions in the account (balance replenishment, conversion, withdrawal of funds).
Pros and cons of CoinPayments wallet
|• Security (despite the fact of hacking).||• The only downside is the 2017 hack.|
|• Support for many different cryptocurrencies.|
|• Low commission.|
|• Proven storage function.|
Over a long period of stable existence, the Coinpayments.net service has acquired a number of useful and convenient features that distinguish it from most of its counterparts. It is worth highlighting the 13 most significant qualities:
- Support for a large number of coins. The main ones are: litecoin, bitcoin, ripple are considered. Of course, other species are presented.
- Unusual organization of work with currencies. In an online wallet, you can use two modes of operation: storage; payment for services, conversion and accumulation.
- "Safe" - allows you to block a certain amount for different periods of time. It is also possible to store coins under special protection conditions.
- A digital POS terminal that accepts online payments in different currencies is offered especially for Internet businesses. Several plugins for web stores have been developed.
- Vault option for "cold" storage of crypto coins.
- Instant transfers are provided for bitcoins. These are instant transactions carried out prior to receipt of confirmations on the blockchain.
- Special applications developed for iOS and Android devices.
- Service interface options in 13 languages.
- Possibilities of working with fiat. Customers can make transactions directly to bank accounts.
- Option "Automatic exchange". In order to save time, you can set up instant conversion in the indicated directions according to the specified parameters.
- Mass withdrawal function.
- Adding new currencies to the list of online storage. For a small fee, it is possible to add the necessary coins to the wallet that were not used in the system. A similar principle applies to some cryptocurrency exchanges.
- 24/7 customer support and online consultation.
Why should you use the CoinPayments in South Africa wallet?
It's not every day that you will be able to find a cryptocurrency storage wallet that supports over 2,270 digital currencies! The Pay-by-Name feature simplifies the transaction process, and the secure vault allows you to store your coins (and that's a proven fact!).
If you are looking for a good and convenient cryptocurrency wallet in South Africa then try Coinpayments!
How to use CoinPayments Wallet?
If you want to know how to use CoinPayments Wallet, follow the next steps.
Registration on the site
The procedure for registering a personal account is simple. You need to perform a few simple steps:
- On the main page of the coinpayments.net project, find the "Register" button and click on it.
- Enter the required information in the fields.
- Solve the captcha and accept the terms of the system regulations.
- Wait for the email and activate the control link in it.
- Confirm registration by entering a password and login.
After registering on the official website, you need to make two mandatory settings when registering a profile.
- Choose the type of wallet for your own needs: for regular use or for an online store. There will be corresponding buttons: "Wallet" and "Seller".
- In the proposed list, indicate the cryptocurrencies for which the system should generate internal wallets.
It is easy to deposit cryptocurrency or e-currency into your Coinpayments account. The actions for replenishment with fiat are similar. You need to follow the instructions:
- On the main page, select "My wallet" in the central menu and click on this button.
- Find the currency you want to enter in the list. Press the "Options" button located opposite it.
- Specify the required operation in the drop-down menu. Now it is "Make a deposit / get".
- Use the generated wallet address or fiat money account.
- Enter the copied data into the appropriate line when filling in the details for the transaction.
Important! Before depositing funds, you must first create an appropriate wallet. This can be done during the initial settings or through the "PayByName" option.
Transferring money and withdrawing currency from the wallet
Withdrawal actions are the same as in the previous operation. But select the "Send / withdraw funds" function in the drop-down menu. Then enter the required information (beneficiary's account, purpose of payment, desired commission, etc.) and press the button "Request withdrawal / transfer of funds".
If additional protection is activated, you will need to confirm the request with a special code, which is sent by the system to your email. As a rule, a day (maximum) after the approval of the application, the transfer takes place.
Most often, users withdraw digital money from the wallet in the following directions:
- Cryptocurrency exchanges.
- Electronic wallet WebMoney.
- Help from individuals.
The easiest way is to carry out transactions to the accounts of cryptocurrency exchanges.
We advise you to use crypto-exchanges if there is no rush to receive money. You can wait for a favorable exchange rate here and successfully convert digital coins.
CoinPayments is initially free for all users. Anyone with a valid email address can register with CoinPayments. The commission is charged only when the user commits a transaction. Commission is charged for various types of transactions, including:
- Commercial deposit.
- Incoming payments.
CoinPayments' total commission is only 0.5% of all types of transactions. The size of the transaction does not affect this rate. This applies to all types.
Where can I pay with a CoinPayments wallet?
CoinPayments is one of the fastest and largest payment networks. Currently, over 100,000 providers in over 200 countries accept CoinPayments as a method of accepting payments from their customers. With this great advancement, CoinPayments has made it easier for users who have digital currencies to use them as fiat money. You can buy anything, anywhere and even withdraw your Ripple XRP from your bank with this wallet!
Other websites suggest using your coins in your wallet for investment purposes only. This limits your use of your own money. Coinpayments works with many online stores and e-commerce software that allows you to shop online. You can use your wallet as your personal wallet to make payments across different platforms.
Today you can test the work of CoinPayments Wallet in South Africa! The wallet interface is simple and easy to use. The wallet shows the complete history of payments and shows the exact amount that you used in the transactions. You will receive email notifications related to financial transactions to keep up to date with the financial value of your wallet!
Join millions of active users around the world who use CoinPayments!