BitPay has made it a bit more convenient for users to buy and sell Bitcoin through their Copay wallet. Although this feature requires the user to have a verified Coinbase account, this could be a very powerful merger of popular Bitcoin services.
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BitPay Copay and Coinbase Integration
It is not the first time BitPay mentions exchange integration in their Copay multisignature solution, however, now we finally know which platform will be used. The choice was made to integrate Coinbase into the Copay wallet solution, giving users an easy way to sell Bitcoin, or buy cryptocurrency through bank transfers and plastic cards.
What makes this integration noteworthy is how this particular service is accessible across all US states, Canada, and 30 other countries around the world. However, there is a buying limit imposed of US$1,000 per day, which should suit the needs of most Copay users. Users will need a verified Coinbase account to make use of this new feature, though.
But there’s more to this integration, as the merging of Copay and Coinbase is also an exciting development for exchange users. Rather than storing their Bitcoin funds on the Coinbase platform itself, users can transfer the funds to CoPay and still enjoy all of the functionality offered by the exchange itself. There is no requirement to do so, but it never hurts to have more options at one’s disposal.
The decision to integrate Coinbase into the Bitpay Copay wallet solution seems to be the right call. The Bitcoin exchange has been around since 2011 and is one of the oldest cryptocurrency platforms in the world still active today. Moreover, it is one of the few platforms that lets users pay through traditional payment methods such as credit and debit cards, a payment method that is usually not associated with buying Bitcoin.
All in all, this integration brings more functionality and security to the table. A Multisignature Bitcoin wallet combined with an embedded option to buy and sell cryptocurrency on the fly will be a powerful tool for novice cryptocurrency users. Moreover, experienced Bitcoin users will enjoy this type of functionality as well, as it combines some of the most commonly used Bitcoin services into one solution.
Header image courtesy of Copay