BitPay Wallet: keys, security, fees and reviews
Software wallet
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Key facts
- Wallet type
- Software wallet
- Who holds the keys
- the user (self-custody)
- Developer
- BitPay, Inc.
- Platforms
- iOS, desktop
- Open source
- yes
- Official site
- bitpay.com/wallet
Checked on 2026-10-27 against the official site, docs and app-store pages.
What is BitPay Wallet
BitPay Wallet (now the BitPay App, formerly Copay) is a free, open-source, self-custody multisignature wallet for iOS and Android from the crypto payment processor BitPay. It holds Bitcoin, Ethereum, Solana, XRP and other assets across several chains, and links to third-party services to buy, swap and spend crypto.
Who holds the keys
| Parameter | Details |
|---|---|
| Key control | Self-custodial: the wallet is stored on the user's device; BitPay has no access to keys, passphrases or backups. |
| Recovery | Without a separate backup and password, funds become inaccessible; BitPay cannot retrieve lost keys. |
| Seed phrase | Wallets are backed up with a 12-word backup phrase. |
| Account model | Multiple wallets can be created, imported and connected, with optional multisignature. |
Features and supported networks
| Parameter | Details |
|---|---|
| Supported networks | Assets across several chains, including Bitcoin, Bitcoin Cash, Ethereum, Polygon, Solana, XRP, Litecoin, Dogecoin and stablecoins such as USDC and USDT. |
| Multisig | Optional multisignature wallets. |
| Buy / sell | Buying and swapping are provided by third-party partners; BitPay is not a party to those trades. |
| Swaps | Hundreds of swap pairs in the app through third-party providers. |
| Platforms | iOS and Android app, with sync across mobile and desktop. |
Security and audits
- Open source under the MIT licence (bitpay-app and the older wallet/Copay repository on GitHub).
- Biometric lock, 2FA, encrypted passwords and optional multisig.
- On 26 November 2018 BitPay disclosed malicious code, able to capture private keys, in a third-party package used by Copay 5.0.2–5.1.0; the BitPay app was not vulnerable.
Fees
| Parameter | Details |
|---|---|
| Wallet | Free app; purchases and swaps are priced by third-party providers. |
History
| Date | Event |
|---|---|
| 2011 | BitPay founded. |
| 26 March 2014 | Copay wallet repository, later renamed BitPay Wallet, created on GitHub. |
| 26 November 2018 | BitPay published a security statement on malicious code in a third-party NPM package used by Copay versions 5.0.2 to 5.1.0. |
| 20 May 2022 | Repository for the current BitPay App created on GitHub. |
Risks and caveats
- Losing the wallet backup and password makes the funds inaccessible; BitPay cannot recover keys.
- Buy and swap services are run by third parties under their own terms.
- Card and bill-pay features are subject to geographic restrictions.
- Copay versions 5.0.2 to 5.1.0 (2018) contained malicious third-party code; the vendor advised moving funds to brand-new wallets on version 5.2.0 or later.
About the developer
- Legal entity
- BitPay Software LLC (Delaware, USA) licenses the wallet; EU users may contract with BitPay B.V.
- Headquarters
- Atlanta, Georgia, USA.
- Licence / registration
- BitPay, Inc. is a FinCEN-registered money services business; BitPay B.V. is registered with and supervised by De Nederlandsche Bank.
- Founded
- 2011
Official links
- Website: bitpay.com/wallet
- Source code: github.com/bitpay/bitpay-app
- Docs: bitpay.com/legal/terms-of-use
Questions and answers
Is BitPay Wallet self-custodial?
Yes. The wallet is stored on the user's device, and BitPay has no access to private keys, passphrases or backups.
Is BitPay Wallet open source?
Yes. The BitPay App and its predecessor Copay are published on GitHub under the MIT licence.
Which coins does BitPay Wallet support?
Hundreds of assets across chains such as Bitcoin, Bitcoin Cash, Ethereum, Polygon, Solana, XRP, Litecoin and Dogecoin, including major stablecoins.
Has BitPay Wallet had security incidents?
In November 2018 BitPay disclosed malicious third-party code in Copay versions 5.0.2 to 5.1.0; version 5.2.0 removed it.
Does BitPay Wallet charge fees?
The app is free; buying and swapping go through third-party providers with their own pricing.
Sources
- bitpay.com
- apps.apple.com
- BitPay — Terms of use (Wallet Terms)
- BitPay — Statement on NPM package vulnerability (archived)
- BitPay — bitpay-app GitHub repository record
- BitPay — wallet (Copay) GitHub repository record
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