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Cryptocurrency Wallet Bitgo

Bitgo Wallet

BitGo wallet belongs to web wallet category and is the topmost trusted wallet provider to store the enigmatic currency with highly intuitive design and user interface. Bitgo is known as the worlds most secure and multi-signature web wallet and provides some of the topmost services that most of the wallet providers get failed.

  • Website: https://www.bitgo.com/
  • Currencies Supported: Bitcoin
  • Pricing: Free
  • Payment Method: The company currently offers BitGo Enterprise™, the first multi-sig, multi-user solution for corporations and financial institutions to manage their Bitcoin holdings with enterprise-grade security. The BitGo platform also enables exchanges, marketplaces, and e-commerce players to facilitate secure, multi-party transactions that are secured with BitGo.
  • Features: Enhanced security as BitGo operates a Bitcoin security-as-a-service platform based on its innovative multi-signature technology. The Bitgo wallet uses multisignature technology to underpin its product offering by sharing keys between themselves and the user.
  • Other Benefits: Over 1 billion per month in transactions.
  • Hard Wallet or Digital Wallet or Both: Digital
  • Desktop or Mobile App: Desktop
  • Control Rating: You control
  • Type of Verification: Not specified
  • Vulnerable or Secure Environment: Mid-level security
  • Privacy Rating: Medium
  • Type of Wallet: Hot
  • Available Assets: multicurrency (BTC, ETH, LTC, etc)
  • Available Platforms: Browser

BitGo Features

  • The BitGo wallets have one of the most advanced security that includes rate limits, webhooks, secondary approvals and many other, together with a 24 hours a day, 7 days a week account monitoring. You will also get notified instantly after you’ve made a transaction and you’ll get detailed reports for your holdings.
  • One of the most important BitGo features which must be mentioned is the BitGo Instant Transaction. This is a service that allows clients to accept zero-confirm transactions. BitGo runs its own security checks and requires multiple security keys for a transaction to be processed. 
  • BitGo basically vouch for the transaction until it is confirmed, so its clients don’t have to worry about big time gaps between accepting a payment and receiving it.
  • BitGo has very strict authentication rules, for example, in order to log in to your account via a web browser you need to have the same confirmed IP address all the time.
  • BitGo wallets are equipped with features like BitGo safe, P2SH, multi-signature and many others to make your wallet even more secure and have better bitcoin transaction experience.
  • Safe: BitGo safe uses highly encrypted bitcoin protocol to secure and protect your money which is wrapped in your bitcoin address called Pay to Script Hash (P2SH), it is a specification outlined in an update to the bitcoin protocol called BIPS 16 to make the transaction more secure and private. BitGo provides the third party to make the trusted transaction which is holding the bitcoins until both parties don’t receive the service or product they are offering.
  • Multi-signature wallet to increase security: The brand is just more than the wallet with their extraordinary features and protocol they use by providing the robust multi-signature feature to make your wallet one of the most secure, trusted theft free and scam free wallet. By involving the party and having the other two parties, no one can steal this cryptic currency unless the hacker has two out of three signatures that make your wallet world’s most secure wallet ever.
  • Reliability and security: The brand is reliable for most of the business anywhere from small to big sized businesses while providing great transaction experiences to the clients. Hence, the brand is highly reliable for everyone with just a few click setups. 

BitGo provides the world’s safest and trusted wallet with its highly encrypted protocols and secure transaction services.

BitGo Pros and Cons

Pros:

  • BitGo is a reliable bitcoin wallet due to its focus on multilayer security. Because of that, it has managed to gain its reputation as a reliable blockchain services provider.
  • Lowest transaction time
  • Fees are quite a bit lower than normal transaction
  • They provide the keys to making your wallet more secure
  • Theft and scam proof, reversible transaction etc.
  • Helps organizations create a private blockchain.
  • Easy to use.
  • Presents users with private keys to help them get control over their digital currency.
  • Supports a wide variety of cryptocurrencies
  • Supported on web browsers, Android, and iOS
  • Easy to use

Cons:

  • When it comes to some weak aspects of the platform, BitGo was specifically designed for the bitcoin system, no other crypto currency is currently supported.
  • The time-consuming verification process for transactions.
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