Copay Bitcoin Wallet Setup (Android & iPhone)

In this guide, we will show you how to setup the “Copay Bitcoin Wallet” on an Android phone. The setup is the same process for iPhone, except you will be downloading your app from the iTunes App Store.

Video Transcript:

Today I’m going to show you how to set up the copay Bitcoin wallet on your Android device. So let’s get started.
First I’m going to click on the Play Store icon to pull up our Play Store. In the top search bar we’re going to type in copay. It should be this one here on the list. Copay Bitcoin wallet. Make sure it is by “Bitpay incorporated”. Go ahead and click install and this will download and install itself.

When it’s done go ahead and click open. Let’s get started by clicking “get started” Make sure you read through this information here, just a quick overview of what Bitcoin is and what you’re downloading. Then go ahead and click create wallet. Now this will encrypt your wallet key. This is important because if another application on your phone wants to access for some reason your Bitcoin wallet it might be able to steal all of your Bitcoin so we need to be careful here and encrypting your wallets a good thing. So choose a password you’re not going to forget and click “OK” confirm your password.

Your wallets created. If you want to receive email notifications you can fill that out, I’m not really interested in that so let’s continue. Now you want to backup your Bitcoin wallet. This is very important step because if you break your phone or something happens you, want to be able to recover your Bitcoin. So go ahead and click backup your wallet, its gonna ask you that nobody’s watching you. I mean if you have your back to a security camera that’s even bad. So you know, make sure that you’re by yourself when you back this up, and do not take a screenshot of it. You want to physically write down your backup words. Now once you’ve written these words down, and make sure you write them down in that order, go ahead and click “I’ve written it down”. Now you’re going to put them back in the correct order from how you wrote them down, just to confirm that you wrote them down correctly. Because if you don’t write these down correctly and something does happen to your Bitcoin, you’re gonna go and try to recover them and they’re not going to be there which is really bad. Now your words will be different from mine and don’t use my words  because somebody else might view the video and steal your funds, so make sure you write down your own words. Now your wallet is set up.

Now you might wonder what am I supposed to do with these words? Maybe you should put them in an envelope and put them in a safe, or you know, put it in your safety deposit box at a bank, or just in your jewelry box, or under your mattress. I’m not sure, where ever you can safely keep things that someone is not going to steal stuff, that is where you should keep them.

So now our wallet is set up and the most important feature of our wallet is clicking this receive button at the bottom left hand corner. This is our Bitcoin address and this is our Bitcoin QR code with all these crazy little squares. If you’re making a purchase from an ATM machine or if someone is trying to send you Bitcoin from their phone or computer, you want to show them this address  that starts with a 1, or this big fancy QR code here.

Leave A Comment

Your email address will not be published. Required fields are marked *