BitGo
About BitGo
BitGo is a leading company that has developed a cryptocurrency wallet known by the same name. Here is an overview of the key features and services provided by BitGo.
Core Functions of BitGo:
-
Security: BitGo stands out with its innovative multi-signature technology and proprietary security protocols that allow for key recovery and zero-confirmation transactions.
-
Functionality: The BitGo wallet caters to individual cryptocurrency users, corporate investors, and facilitates seamless B2B and B2C interactions.
-
Integration: BitGo places emphasis on compliance, ensuring legal handling of digital assets and secure transactions for goods and services.
Supported Cryptocurrencies by BitGo
BitGo offers a multi-wallet solution supporting accounts for 6 major cryptocurrencies: Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, and Bitcoin Gold. Additionally, BitGo has partnered with over 200 coins and tokens.
The fee for outgoing transactions through the BitGo wallet is 0.25%, with the exception of transactions below 1 BTC. For Bitcoin Gold transactions, the fee is set at 1%.
Mining rewards are subject to network congestion, following standard practices in the industry.
Key Features of the BitGo Wallet
While accessible via a web browser, the BitGo wallet offers a “cold” mode for enhanced security measures, beyond its standard “hot” mode operation.
Notably, the BitGo wallet comprises three keys: one retained by the developers and two by the cryptocurrency owner. Users are required to provide personal details such as name, surname, and email address to utilize the service.
To create a wallet, users can navigate to the bitgo.com website. Although lacking a Russian language translation, the platform offers a choice between Google Authenticator or Yubikey for two-factor authentication. Keys are sent via email for added security.
Upon registration, a Bitcoin wallet is provided, necessitating manual creation of accounts for other cryptocurrencies. Each account requires a unique name and Backup Key, which can be generated online or offline.
For transactions, users can click on the “Send” button, input the recipient’s address, cryptocurrency amount, and add an optional comment. To receive funds, users can choose “Receive,” revealing a public wallet address that can be regenerated.
Notably, the BitGo Wallet does not support cryptocurrency exchanges or fiat currency purchases. BitGo recommends the use of Bitgo Prime for trading, which mandates a separate registration for liquidity access.
Community Feedback on BitGo
If you’ve had experience using the BitGo wallet, please consider sharing your feedback. Your review can offer valuable insights to fellow cryptocurrency enthusiasts, irrespective of the nature of your experience.
This review has been prepared by the specialists at ExpertsReview.