When we see an amazing thing, the very first word that may come out of our mouth will be, is it legit?
Same with CoinPayments.com. CoinPayments is so great that the first word or question you may ask will be; is CoinPayments legit or scam?
In this CoinPayments guide, I will tell you if it is. Yet, you know, I don’t just wish to review how CoinPayments works. I will go on to show you how to use CoinPayments.
That is to say. How to send and receive payments in your CoinPayments account.
Not just that. I will show you how to personalize your CoinPayments wallet account as well.
COINPAYMENTS WALLET WEBSITE REVIEW 2018
CoinPayment is a great online wallet that accepts up to 440+ different cryptocurrencies worldwide. Not just that, they can manage fiat, cryptos, ERC20 tokens and many more you can find in your account dashboard by clicking supported coins.
As you would not have believed, but yet, the CoinPayments wallet is completely free for non-commercial applications.
The regular wallet users are charged very little amount of money. But for the merchants using the checkout feature and API’s are charged a small percentage of 0.5 – 0.5%.
For other add-ons. If merchants or users wish to convert coins on the platform, e.g. BTC-LTC, the conversion rate will be established by the following formula – coin TX fee + conversion partner’s fees.
Don’t worry though, the last paragraph rarely will concern you if your vision is to be just a regular user.
WHAT MAKES COINPAYMENTS SPECIAL?
That is the same question I would have liked to ask. But fortunately, before our very eye, through CoinPayments, we can manage up to 440+ cryptocurrencies. Tell me, WHO DOES THAT? Only CoinPayments and Leger or Trezor T.
Let me tell you more on why they are special.
• Security options
CoinPayments from what I have seen, are so curious and concerned about security. This is how.
Firstly, they weighed the negligence of some crypto users, and said, with or without your approval, email two-factor authentication is a MUST.
That is to say, you must get your 2FA code on each login (from your email), else, no way through.
• Security 2 – Bitgo
Still on security. Have you noticed that CoinPayments is Bitgo certified? I bet you overlooked it.
Just check it out. They’re fully integrated with BITGO to tighten security. And mind you, Bitgo is not free –so, that is money sung into the security for users.
• Security 3 – Locked out.
On CoinPayments, if they detect too many failed login attempts, your account will be locked for 1 hour.
That is again another sweet spot for an online wallet.
• Not As An Exchange
Well, who knows? CoinPayments can turn an exchange tomorrow, but for now, I am pleased that all attention is served on being just a wallet platform.
You may ask why but see this. How do you explain managing such a number of Altcoin wallet? It’s amazing, isn’t it?
So, it is just being a monk if you are one – don’t try to be a monk and still go to the barbing salon to check out haircut styles.
COINPAYMENTS INTEGRATION & APPS
• Trezor Hardware Wallets
Surprised that a Hardware like Trezor is integrated on CoinPayments? Well, if you were surprised, I wasn’t. I was shocked. OMG!!!.
So, with a great attitude, CoinPayments has a Trezor crypto hardware aligned. That is so great. It tells the security level they are.
• Two Factor Authentication
This is the core the core of security if you want to be free from phishing attack like Cody brown lost his $8,000.
I like the fact that CoinPayments automatically integrates this. So, whether you want it or not, your account must be protected with a 2FA. That is again great.
And it goes from good to great. CoinPayments has Multisig option in place for massive users, most especially the merchants.
What does Multisig do? It adds third layer security to your money there.
• CoinPayments Apps
iOS and Android applications.
CoinPayments has made work and navigation very easy for her users as there are apps to use. On her website you can get the iOS and Android app. To download the applications, click here.
NUMBER OF CRYPTOCURRENCIES MANAGED ON COINPAYMENTS
As of the time of writing, CoinPayments offers up to 440+ cryptocurrencies management.
THE BENEFITS AS A COINPAYMENTS USER
Just a few hours ago, I logged into my account and saw that I was awarded their Airdrop token. Well, I am speechless. You can get an account now and see if you will be given a free 100 CPS coins.
Let’s see what they are up to because I already know that managing up to 440 crypto wallets is not a mean feat.
Ready to Use CoinPayments Wallets?
Before we go on to open a CoinPayments multi-functional wallet, let’s see some pros and cons.
CONS & PROS OF USING COINPAYMENTS WALLETS
• Hosted online
CoinPayments wallets are hosted online just like Coinbase. So, it is not up to a 90% grade wallet to keep your coins. At least, not more than you can afford to lose.
• Third Party/Private Keys
As a user, your private keys are stored by a third party. While this is a disadvantage, the good thing, however, is they are encrypted with your password.
• Not Open Source
Unlike the DASH online wallet, CoinPayments wallets are not open source for users to see how the node and technical upgrade goes.
CoinPayments wallet is completely free for non-commercial applications.
With CoinPayments, you are open to using up to 442+ crypto wallets.
CoinPayments wallet is secure as they have up to 3 security layers. 2FA. Bitgo, and Multisignature.
HOW TO OPEN A 440 CRYPTO ACCOUNT ON COINPAYMENTS
Open a new crypto email if you haven’t. Do not use your official email for crypto business. Please. Thank you.
1. Visit CoinPayments.com and click on Sign up.
2. Enter your details in the data field and click Register.
3. Go onto your email and copy the code. Enter it and activate your account
When you see the image below. Click on Wallet. The other option is for business. Unless you want to.
That is all.
HOW TO CREATE OVER 440 CRYPTO WALLETS ON COINPAYMENTS
1. Visit CoinPayments and click Login.
2. Go to your mail and copy the 2FA code and paste in the space provided.
3. Click on Login.
4. Click on Your Wallet
Now I have the freedom/choice to create any of the 400+ crypto wallets hosted on CoinPayments. So what do I do? I will create a Litecoin wallet address – for this tutorial.
5. Click on LTC option on the rear right-hand side.
6. Select Deposit and receive.
On the next page, click on Add New Deposit Address
You will get a notification: New deposit address added!
6. You can copy your address to another crypto exchange or to the purpose you created it.
Ad-on 1: you can hide the address if you want. Just click on the Hide navigation.
Add-on 2: you can even personalize your wallet – add a label to it.
(I will use i-will-teach-u-crypto.com-tutorial). Click on Update Label if you’ve entered yours.
See how it looks below.
Okay, that is all you have to do to create up to 400+ crypto wallets on CoinPayments.
To say that I like this tool is an understatement. I love it. At least, every beginner can use it before having the money to buy hardware wallets.
HOW TO MAKE WITHDRAWALS FROM COINPAYMENTS WALLET(S) – USING LTC
1. Visit CoinPayments and login if you had logged out,
2. Go to Your wallets,
3. Click on the crypto wallet you want to make withdrawals from. (If LTC, see below).
4. Click on LTC options,
5. Click on send and withdraw,
6. Enter the details of the account
•The recipient address- destined LTC address
•The amount of LTC.
Every other add-on will be specified. I mean things such as the transaction fees and a few other things.
8. When done, hit the Request Withdrawal/Send button.
That is all.
You will get a notification via email when the transaction is successful.
So, that this how to make a withdrawal from CoinPayments multi-functional wallet.
The flexibility here is going for any other wallet you want to work with. While I used Litecoin, yours can be Dogecoin or as the case may be.
You can play around with the account to see how things go. But the basics are the 2FA and how to send and receive payments.
More so, just head on to – Login & Security Settings. There, you will learn more things you can configure to your taste.
When all set, click on Update Account and you will be good to go. That is all.
HOW TO CONTACT COINPAYMENTS SUPPORT
Should you have any challenge, here is the link to get to their support.
It’s okay though to use CoinPayments. But yet, it should only be smaller amounts of funds. Why? It is not the best way to hold coins since it is hosted online.
NOTE: When it has to do with Bitcoin, Ethereum, Litecoin, and BitcoinCash crypto wallets, get them from Coinbase,because they are simply the best Crypto 4 wallet manager.
CoinPayments wallet is completely for beginners. As it is user-friendly, with core security in mind, you can only do more with it.
Do you think this guide is worth sharing, Please do. Also, let me know what you think about CoinPayments.com