Copay is a Multisig HD Wallet. Copay apps hold the extended private keys for the wallet. The private key never leave the device, so for accessing a wallet funds it is necesary to have the device or the backup of the wallet.
* Wallet Seed (WS): 12 words mnemonic backup (available from Copay v1.2+). The 12 words are used as wallet seed, following BIP39 specification. The wallet seed may require a passphrase to recreate the wallet (if that was specified at creation time).
* Wallet Backup (WB): Exported data from Copay, containing an AES encrypted JSON with many wallet parameters (like extended Private Key, wallet Name, extended public keys of Copayers, etc. See #export-format). This data can be created from Copay v1.2+ (Settings->Export) and it was the default backup format on previous Copay versions. WB can be a file (standart format for Copay desktop versions) or a text (standart from Copay mobile versions).
* Basic Recovery: Wallet access is restored. It is possible to see wallet balance and past transactions. It is possible to send and receive coins.
* Full Recovery: All the features of Basic Recovery + Wallet Name, Copayer Names are recovered, Past Spend proposal metadata (who signed, and notes) are recoved.
If the error "This wallet is not registered at the wallet service" will appear:
- Go to 'Create Wallet', and enter the WS at 'Advanced Options'. Select a new name for the restored wallet. Total and required number of copayers should be set to 1.
- Wallet should be recreated and funds can be acceded
(Using WD)
- Enter the WD at 'Import Wallet'
- Wallet should be recreated and funds should be accesable
- Enter one WS at Create ( at the Advanced option section). Note that the wallet's configuration (M-N and network paramenters) need to be entered and need to match the parameters that where enterered when the wallet was created. Name and Nickname of Copayers need to be entered also, but there is no need for them to match the original wallet setup.
- Ask other copayers to join the wallet using the given invitation code. All copayers need to enter their WS at Join (at -> Advanced Options -> Wallet Seed).
- Wallet should be recreated and funds should be accesable
In this case, Copayers will not be able to decrypt the 'notes' field on the new Spend Proposals, because the shared secret stored at the WD is not longer known by other copayers.