BitGo Review 2019

BitGo-The First Multi-Signature, Multi-User Solution For Corporations And Financial Institutions To Manage Their Bitcoin Holdings With Enterprise-Grade Security.

Today, with the fast growth of Cryptocurrency industry, Crypto players around the world are now looking for the right combination of safety and functionality in wallet platforms. In the same way, we bring you the BitGo platform which provides the professional services and meet the interest of people in the Cryptocurrency space. 

So, let’s start with the BitGo Review.

BitGo is high security multi signature wallet which protects Bitcoin from theft and loss. Moreover, wallet is easy to use and provides security features and the platform is introduced as a first multi signature hot wallet.

The company is established by Mike Belshe and Ben Davenport in the year 2013, based in California. Furthermore, platform has large processor of on chain Bitcoin transactions.Moreover, processes the 15% of Global Bitcoin transactions and $15 billion per month across all Cryptocurrencies. Additionally, platform supports 100 coins and tokens also it has over $2 billion in assets in wallet.

Features

Most Secure : Platform allows 100% cold storage technology in bank grade class 3 vaults.

Multi User Accounts : Platform provides customizable user roles and controls to align with your organization structure.

Seamless Trading : Buy and sell orders through platform’s trading partners directly from security of cold storage.

Quick and Easy Integration : Available through the web and single unified API that supports all coins and tokens.

24*7 Support : Operational in 5 to 7 business days including Account Setup, Activation, and Asset Transfer.

Multiple Business Model Of BitGO As Follows

  • Custody Service
  • Business Wallet
  • Customizable Private Blockchains For Financial World
  • BitGo API

Custody

Crypto custody service is not unique. Similarly, US based company Coinbase is already in a similar space. Moreover, platform’s custody solution offers the most advanced cold storage and custody service include KYC/AML, transaction processing and reporting from the market leader in institutional grade Cryptocurrency security.

Business Wallet

BitGo is pioneer multi signature wallet. Furthermore, wallet consists of three keys one held by Bitgo and other two hot and cold held by the wallet’s owner. Moreover, three key management removes any single point of failure and advanced security configurations ensure that assets are secure as they move in or out of the wallet.

Customizable Private Blockchains For Financial World

This platform believes that in future, lot of assets will be digitized and transacted on Blockchain. Moreover, most of the companies do proof of concept whereas this platform moves beyond proof of concept into design, development and delivery of real world applications.

Additionally, the service offered by platform is development of customized private Blockchains, using customized service market leader can trade digital currencies.

BitGO API

Platform provides API so that developers can integrate the multi signature wallet functionality into their own Bitcoin applications. Hence, this means any new applications taking Bitcoin payment method can benefit from Platform’s wallet functionality as a payment method.

Integration With BitGo API Platform Provides Some Basic Features

  • Seamless integration
  • Co-signing engine
  • Security and privacy.

How To Use BitGo?

Register an account and go through an E-mail verification procedure.

Once the account is registered, setup two factor authentication and go to “Wallet” page. Click My BitGo wallet to access the transaction page.

Click on send or receive buttons depending on whether you wish to get or provide coins from your balance. Further, you will be redirected towards transfer page, where you can generate QR code or address code. Enter the volume you wish to get or receive.

To receive click on receive button. In the same way, platform will generate a deposit address that you can now issue to the person or company you are trading Bitcoins with.

 bitgo receive pic

 

To send, platform sets a miners fee for every transaction to ensure your transaction goes through in the short span of time. Moreover, platform’s wallet also has SegWit enabled by default. Hence, it helps to complete the Bitcoin transaction faster by doubling the blocks.

 

BitGo Fees

This wallet provides two different fee programs for users to choose from: Bitgo Pay As You Go and Business Account. With BitGo Pay As You Go you need to pay up to 0.25% of outgoing transfer which is little bit high.

Business Account is for organizations and investors with more trading assets and coin volumes. Moreover the fees structure is based on transaction volume.

bitgo-review

 

Pros 

  • Worldwide available service
  • Low transaction time
  • Several security tools available
  • Multi signature wallet available for all Cryptocurrencies
  • Fees are quite low

Cons

  • Mobile Apps do not support iOS and Android
  • Offline vaults are not available 
  • Problem of unconfirmed transactions

Final Verdict

This platform is suitable for most businesses and even for a common person using Bitcoin as a payment. Moreover, this platform has world’s most secure wallet and through the integration with multiple exchanges BitGo allows extensive functionality while keeping funds safe on their platform.

Eventually, we hope you’ve enjoyed the BitGo Review and please do let us know in our comment section.

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Qadir AK

Qadir Ak - Co-founder of Coinpedia Blog - His interest as crypto Author, Editor, Speaker at cryptocurrency conference has made him known as passionate blogger and startup in Asia.

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