Coinsnap Wallet FAQ

Coinsnap Wallet is a self-custodial payment wallet for Bitcoin and Digital Dollars with an integrated Point of Sale.

You can use it to send and receive money, pay with Bitcoin or Digital Dollars, manage multiple wallets and accept customer payments.

Coinsnap Wallet can be used by anyone who wants to send, receive, hold or pay with Bitcoin and Digital Dollars.

It also includes Point of Sale and merchant features for businesses that want to accept Bitcoin payments in shops, cafes, restaurants, at events or other physical locations.

Yes. Coinsnap Wallet is self-custodial. The wallet owner controls the funds and the recovery credentials.

Coinsnap does not hold the funds in your wallet.

No. You can use Coinsnap Wallet as a standalone self-custodial wallet without a Coinsnap Merchant Account.

A Coinsnap Merchant Account is used for additional business and Point of Sale features such as terminal management, reporting, accounting exports and other merchant services.

No. Coinsnap Wallet works on compatible smartphones and tablets.

The integrated Point of Sale can also turn a smartphone, tablet or compatible POS device into a Bitcoin payment terminal.

Yes. Coinsnap Wallet is available for iOS and Android.

Use the official download links provided by Coinsnap to make sure you install the correct app.

Install Coinsnap Wallet, the wallet for Bitcoin and Digital Dollars.

Do not confuse Coinsnap Wallet with the similarly named Coinsnap Coin Identifier, which is a different application.

Use the official Apple App Store and Google Play links provided on the Coinsnap website.

You can create up to five wallets in Coinsnap Wallet.

Each wallet can have its own name, Lightning Address, Bitcoin balance, Digital Dollar balance and Stable Balance setting.

Yes. You can choose a name for each wallet.

For example, you could create wallets called Joe, Shop, Savings or Event to organize funds for different purposes.

No. Personal Wallet and Business Wallet were predefined wallet types used in an earlier version of Coinsnap Wallet. The current Coinsnap Wallet no longer requires these predefined wallet types.

You can create up to five wallets and choose the name and purpose of each wallet yourself.

Yes. Every wallet can contain both a Bitcoin balance and a Digital Dollar balance.

You do not need to create separate wallets or use separate apps for Bitcoin and Digital Dollars.

Yes. Each wallet can have its own Lightning Address.

This allows you to use different Lightning Addresses for different purposes while managing the wallets within the same Coinsnap Wallet app.

A Lightning Address is a human-readable address for receiving Bitcoin over the Lightning Network.

It looks similar to an email address, for example: name@coinsnap.app

Yes. You can manage the Lightning Address of an individual wallet in the wallet settings.

Yes. Coinsnap Wallet allows you to hold, send and receive Bitcoin and make Bitcoin payments.

Supported Bitcoin payment methods include Lightning, Bitcoin on-chain and Spark.

Digital Dollars are USD-denominated funds that can be held, sent and received with Coinsnap Wallet using supported payment infrastructure and stablecoins.

Your Digital Dollar balance is displayed separately from your Bitcoin balance within the same wallet.

Yes. A single Coinsnap wallet can hold both Bitcoin and Digital Dollars at the same time.

The two balances are displayed separately within the wallet.

Yes. You can use the Convert function in Coinsnap Wallet to convert Bitcoin into Digital Dollars.

Yes. Conversion works in both directions.

You can convert Bitcoin into Digital Dollars and Digital Dollars back into Bitcoin.

Stable Balance is a setting that automatically converts newly received Bitcoin into Digital Dollars.

It can be useful for users and merchants who want to receive Bitcoin payments while reducing their exposure to Bitcoin price movements.

No. Enabling Stable Balance does not convert Bitcoin that is already held in the wallet.

It applies to newly received Bitcoin after the feature has been enabled.

Yes. Stable Balance is configured individually for each wallet.

For example, you could keep Bitcoin in one wallet while automatically converting newly received Bitcoin into Digital Dollars in another wallet.

Coinsnap Wallet supports receiving Bitcoin through Lightning, Bitcoin on-chain and Spark.

Select Receive in the wallet and use the appropriate address, QR code or payment request.

Select Send and scan a QR code or enter the recipient's payment information.

Coinsnap Wallet recognizes supported payment formats and uses the appropriate payment route.

Yes. Coinsnap Wallet can receive supported Digital Dollar payments.

Received Digital Dollars are shown under the USD balance of the selected wallet.

Yes. You can send supported payments from the Digital Dollar balance of your wallet.

Yes. Customers do not need Coinsnap Wallet to pay you.

They can use compatible wallets and supported payment methods.

Payment speed depends on the payment method.

Lightning and Spark are designed for fast payments, while Bitcoin on-chain transactions depend on confirmation by the Bitcoin network.

No. Coinsnap Wallet is self-custodial.

The wallet owner controls the wallet and its recovery credentials. Coinsnap does not hold the funds stored in the wallet.

The recovery phrase consists of 12 words and is used to restore access to your wallet.

Keep the recovery phrase secure and private.

No.

Never share your recovery phrase with Coinsnap, Coinsnap support or anyone else.

Anyone who obtains your recovery credentials may be able to access your funds.

You can restore access to your wallet on another compatible device using your wallet backup or recovery phrase.

Your ability to recover the wallet depends on keeping your recovery information safe.

Open Coinsnap Wallet and select I Already Have a Wallet during setup.

Follow the instructions to restore the wallet using your existing backup or recovery credentials.

Yes. Coinsnap Wallet supports encrypted Cloud Backup on supported devices.

Cloud Backup can be managed under Settings -> Security.

Yes. On supported devices, you can use biometric authentication such as Face ID or fingerprint authentication to help protect access to the app.

Yes. Coinsnap Wallet includes an integrated Point of Sale.

It can be used to accept customer payments in shops, cafes, restaurants, service businesses, market stalls, events and other physical locations.

No. The Point of Sale is integrated directly into Coinsnap Wallet.

You do not need to install a separate Coinsnap POS app.

Enter the payment amount in the Point of Sale and create the payment request.

A QR code is displayed for the customer to scan and pay with a compatible wallet.

No. Customers do not need Coinsnap Wallet.

They can pay using compatible wallets and supported payment methods.

Yes. Merchants can create a Product Catalog with products and predefined prices.

Products can then be selected directly during checkout instead of entering every payment amount manually.

Yes. Coinsnap supports configurable Bitcoin Discounts for merchant payments.

For example, a merchant can offer customers a discount when they pay with Bitcoin.

Yes. The Coinsnap Point of Sale supports tips.

This is useful for businesses such as restaurants, cafes and other service businesses.

A Coinsnap Merchant Account connects Coinsnap Wallet to additional Coinsnap business services.

It provides merchants with extended Point of Sale management, reporting, statistics, exports and other business features.

No. A Coinsnap Merchant Account is not required to use the basic wallet functions.

You can use Coinsnap Wallet as a standalone self-custodial wallet.

A connected Coinsnap Merchant Account provides additional merchant functionality such as:

• Product Catalog
• Tips
• Bitcoin Discounts
• Merchant and terminal management
• Advanced transaction statistics
• Enhanced reporting
• Export functions for accounting and bookkeeping
• Additional Coinsnap merchant services

Yes. Merchants can use multiple terminals with their Coinsnap Merchant Account.

This allows different cashiers, employees or locations to accept payments.

Yes. Merchants can provide employees with access to assigned Point of Sale terminals so they can accept customer payments.

Yes. Coinsnap merchant services can be used to manage multiple Point of Sale locations and terminals.

Kiosk Mode turns a smartphone, tablet or compatible POS device into a dedicated payment terminal for employees.

Employees can use the assigned Point of Sale while access to wallet balances, wallet settings and merchant administration remains protected.

No. Kiosk Mode is designed to give employees access to the assigned Point of Sale without giving them access to the wallet, balances, settings or merchant administration.

A PIN is required to leave Kiosk Mode.

Yes. Kiosk Mode is used with a connected Coinsnap Merchant Account and an assigned Point of Sale terminal.

Yes. Coinsnap Wallet provides transaction information, and connected Coinsnap merchant services provide additional statistics and reporting for Point of Sale payments.

Yes. A connected Coinsnap Merchant Account provides enhanced reporting and export functions that can be used to process transaction data for bookkeeping and accounting.

Coinsnap merchants can use the supported DFX integration to convert Bitcoin revenues into euros and receive payouts to their bank account.

Receiving payments with Coinsnap Wallet is free for the wallet owner.

There is no Coinsnap Wallet fee for receiving funds.

Fees may apply when sending a payment.

The applicable fee depends on the payment method and is displayed in Coinsnap Wallet before the payment is confirmed.

Lightning routing or network fees may apply when sending a Lightning payment.

The applicable fee is displayed before the payment is confirmed.

Bitcoin network fees apply when sending Bitcoin on-chain.

These fees depend on Bitcoin network conditions and are not Coinsnap Merchant fees.

Spark-to-Spark payments are currently fee-free.

Fees may apply when a payment moves between Spark and Lightning or between Spark and the Bitcoin blockchain.

No. They are different types of fees.

Network and transaction fees are determined by the underlying payment infrastructure. Coinsnap Merchant fees apply when Coinsnap merchant services are used.

Basic standalone use of Coinsnap Wallet does not incur a Coinsnap Merchant fee.

For payments processed through Coinsnap merchant services, the standard 1% Coinsnap fee applies.

For payments processed through Coinsnap merchant services, the standard Coinsnap fee is 1%.

The Coinsnap Merchant fee is separate from network or transaction fees that may apply to the underlying payment.

Coinsnap Wallet supports Bitcoin payments through:

• Lightning Network
• Bitcoin on-chain
• Spark

The payment method used depends on the type of payment being sent or received.

Yes. Coinsnap Wallet supports sending and receiving Bitcoin through the Lightning Network.

Yes. Coinsnap Wallet supports Bitcoin on-chain transactions.

Bitcoin network fees may apply when sending an on-chain transaction.

Yes. Coinsnap Wallet supports Spark for supported payments.

Spark-to-Spark payments are currently fee-free, while fees may apply when moving funds between Spark and other payment networks.

No. You do not need to operate your own Lightning node to use Coinsnap Wallet.