CPAY Wallets: Types, Security, MPC, and Management

Ostap Harasymchuk

October 4, 2024

#CPAY Services

Introduction

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CPAY's goal is to make the creation, management, and integration of crypto wallets flexible, secure, and transparent. We have developed a secure and scalable wallet infrastructure, offering users ready-made technology to interact with crypto wallets and assets across various blockchains.

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Types of CPAY Wallets

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CPAY offers two types of crypto wallets:

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- Merchant Wallet: A non-custodial wallet where the merchant holds private keys and manages funds.

- Client Wallet: A custodial or semi-custodial sub-wallet created within the Merchant Wallet, used by the merchant's end-users.

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Both types of wallets can be created in unlimited quantities. Merchant Wallets are designed for storing, collecting, and managing funds, while Client Wallets are provided for the merchant's end-users.

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Security

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Self-Custody: Each wallet created on CPAY is non-custodial, meaning CPAY does not have access to the wallet or the funds stored within it.

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Private Key Management: CPAY allows users to back up part of their private key, which ensures it is not stored on CPAY's servers while maintaining full access to CPAY services. This key fragment is also protected by a password, adding an extra layer of security.

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2FA: CPAY requires two-factor authentication (2FA) for withdrawals, further strengthening wallet security.

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MPC Wallets and Manual Signing Mode

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An MPC (Multi-Party Computation) Wallet enhances security by involving multiple parties in transaction computation and signing without exposing their private keys to each other. When users back up part of their private keys, they enable Manual Transaction Signing.

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Each time a transaction is signed, the private key fragment must be uploaded back to CPAY to process the transaction. This ensures that no transaction can be completed without the private key file, and sensitive information is never stored on CPAY's servers, maintaining the highest security standards.

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Wallet Management and Integration

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CPAY provides users with a comprehensive infrastructure for wallet creation, management, and integration via API if needed. Users can create unlimited wallets directly on the CPAY platform or integrate them into their own systems using the CPAY API. Open technical documentation is available for guidance and support, accessible at: https://docs.cpay.world/category/api.

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For direct assistance, you can also reach out at: support@cpay.world.

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Supported Blockchain Networks and Tokens

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CPAY supports wallets across the following blockchain networks:

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- Bitcoin

- BSC (Binance Smart Chain)

- Ethereum

- TRON

- Polkadot

- Kusama

- Avalanche

- Polygon

- Arbitrum

- Optimism

- Moonbeam

- Solana

- TON

- Fantom

- Blast

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Fees

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CPAY does not charge any fixed prepaid fees for using its wallet solutions. Users can register on the platform and create an unlimited number of wallets. The only fees charged by CPAY are for transaction processing:

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- System Fee for Replenishment: 1% on payments from a Client Wallet to a Merchant Wallet.

- System Fee for Withdrawals: 0.5%.

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Since CPAY wallets are non-custodial, users are also responsible for paying the blockchain network fee (miner fee).

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Conclusion

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CPAY’s crypto wallet technology offers a secure, flexible, and scalable solution for managing crypto assets. With features like non-custodial control, MPC security, and two-factor authentication, CPAY ensures the safety and integrity of user assets.

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Whether you're looking to create and manage wallets on the CPAY platform or integrate them into your own system, CPAY's comprehensive API and technical documentation make the process seamless. By using CPAY, you can manage your crypto operations with confidence, knowing your assets are protected and fully under your control.

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