Crypto Wallet

BitGo Review 2020 – A Secure, Insured Custody For Digital Assets

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 the 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 Review

QUICK NAVIGATION :

 

About BitGo

BitGo is high security multi-signature wallet which protects Bitcoin from theft and loss. Moreover, a 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.

 

BitGo 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.

What is BitGo Instant?

BitGo has come up with a new service that allows users to to accept bitcoin transactions prior to their official confirmation on the blockchain. The service also keeps a check on “double spending”

 

How To Use BitGo?

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

Once the account is registered, set up 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 the 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, the 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, the 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

Latest Updates:

Mar 5, 2020: BitGo is now offering excess insurance termed as  “Excess Specie Insurance” on top of its $100M policy.

Feb 18, 2020: BitGo acquired the digital assets platform Harbor. The acquisition extends BitGo’s capabilities to address a wider class of digital assets for institutional investors and provides a foundation for a full-stack digital assets solution.

Feb 10, 2020: BitGo Expands Global Presence with Regulated Custody in Switzerland and Germany

BitGo Wallet has announced support for crypto staking within its insured custody offering. With this service, users can store their coins and transfer staking rewards to their customers.

Final Verdict

This platform is suitable for most businesses and even for a common person using Bitcoin as a payment. Moreover, this platform has the 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.

For more updates and related topics subscribe to our newsletter.


What is BitGo Wallet?

BitGo is a high-security multi-signature wallet that protects Bitcoin from theft and loss.

What are the BitGo Features?

Most Secure, Multi-User Accounts, Seamless Trading, Quick and Easy Integration, 24*7 Support

Is BitGo safe?

BitGo is considered as one of the safest options when it comes to Bitcoin storage. BitGo provides an online IP address whitelist along with 2FA authentication. Additionally, users can use their Android and iOS devices to provide additional security for login.


What is BitGo Instant?

BitGo has come up with a new service that allows users to accept bitcoin transactions prior to their official confirmation on the blockchain. The service also keeps a check on “double spending”

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BitGO|BitGO Review| Wallet | BitGO Fees| BitGO API
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BitGO|BitGO Review| Wallet | BitGO Fees| BitGO API
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Looking For The Right Combination Of Safety And Functionality In Wallet Platform? BitGo Is High Security Multi Signature Wallet To Protects Bitcoins.
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Coinpedia
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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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