BitGo in a nutshell
BitGo is a company that has developed a cryptocurrency wallet with the same name. This article contains the most essential information about it.
Main activities of BitGo:
- Security. BitGo offers a unique multi-signature technology and proprietary security protocols that enable key recovery and zero-confirmation transactions.
- Functionality. The BitGo wallet is designed for individual cryptocurrency users, corporate investors, and can also be useful in B2B and B2C interactions.
- Integration. BitGo emphasizes its compliance, providing the ability for legal handling of digital assets and secure payment for goods and services.
Supported currencies in BitGo
BitGo is a multi-wallet where you can open accounts for 6 major cryptocurrencies: Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, and Bitcoin Gold. There is also a partnership with over 200 coins and tokens.
The fee for all outgoing transactions through the wallet is 0.25%, provided that the transaction amount is less than 1 BTC. For BTG transactions, the fee is higher at 1%.
Mining rewards depend on the network congestion, as usual.
Features of the BitGo wallet
BitGo is available in the browser, but that doesn’t mean the wallet operates only in “hot” mode. Users have the option to transfer to “cold” mode, considered more secure.
Interestingly, the BitGo wallet has three keys: one held by the developers and two by the cryptocurrency owner. To use the service, personal data such as name, surname, and email address are required.
To create a wallet, visit the bitgo.com website. The site does not offer a Russian language translation, which is a drawback. During registration, BitGo offers a choice of two-factor authentication methods: Google Authenticator or Yubikey. Keys will be sent to the email.
A new user will receive a Bitcoin wallet. To store other currencies, a corresponding account must be created manually. Each account requires a unique name and Backup Key. The key can be created in the browser or obtained offline.
To send funds, click on the “Send” button. Enter the storage address, cryptocurrency amount, and optionally a comment. To receive funds, select “Receive.” The public wallet address is displayed, which can be regenerated.
In BitGo Wallet, it is not possible to exchange cryptocurrency or buy it with fiat money. The company suggests its clients use Bitgo Prime for trading, requiring separate registration for liquidity access.
Reviews about BitGo
If you have experience using the BitGo wallet, share your impressions. Your review will be helpful to other cryptocurrency owners, regardless of its positivity.