Bitgo wallet review

Bitgo
Developed Ease of use,  High Privacy,  User Private Keys Stored

Bitgo is one of the heavy hitters in the industry. The company not only insures their user accounts they have brought security to a whole new level. Their platform goes far beyond the average user they also have a whole host of Business services related to their wallet.

Through integration with multiple exchanges Bitgo allows extensive functionality while keeping your funds safe on their platform. This platform it so advanced it may be too much for the average user and better suited to businesses. They provide a host of B2B applications and services that are not necessary for individual users.

Company / organization behind the wallets

Bitgo was founded in 2013 by Mike Belshe and Ben Davenport, both are experienced in online security, digital currency, and financial technology. The company based in California announced its mission to make digital currencies usable for business in a regulated economy. They are also committed to building confidence in the industry by developing security solutions.

Language Support

  • Chinese
  • English
  • Japanese

Supported Systems

  • Windows
  • OSX
  • Linux
  • Android
  • iOS

Partners and integrated software

  • OKCoin
  • TradeBlock
  • Kraken
  • Bitfinex
  • HYPR
  • Ledger

Bitgo is a pioneer in security. Their model spreads 'control' over the wallet between 3 different parties, Bitgo, the user, and a chosen 3rd party. Their only vulnerability is in the moment the keys are generated which is done on the network which they openly point out to their customers. This vulnerability is present on almost any wallet service with the exception of some hardware wallets.

Summary:

Security
Average
2 Factor Authentication
Yes
Multi-Signature
Yes
Private Keys Stored On
User
Storage Type
Cold storage
Transactions Validation
SPV or Lightweight client
Hierarchical Deterministic
No

What happens in the event of a disaster/theft/loss?

The user has a 'root key', 'recovery phrase' or 'word seed' that can be used to regenerate private keys.

As Bitgo developed a lot of powerful partnerships, their platform became one of the most important and secure wallets available. Designed especially for corporations and businesses, They are known for instant transactions, a secure wallet, and customized private blockchains.

Summary:

Bitgo has good security features and it works well. It is well developed and provides a lot of services that are unnecessary for individual users. It is more suitable for businesses and corporations. It serves multiple Cryptocurrencies and provides exchange through partnerships. It provides flexibility for the user for security and a well developed multi-signature feature.

Ease of use
Developed
Suitable For
Techy’s
Account activation process
Involved
Transaction fees
Set transaction fees
Setup fee
$0.00

Functionality:

  • Exchange coins crypto to crypto

Through integration with multiple exchanges Bitgo allows extensive functionality while keeping your funds safe on their platform. This platform it so advanced it may be too much for the average user and better suited to businesses. They provide a host of B2B applications and services that are not necessary for individual users.

The wallet platform has developed a partnership with a 3rd party and integrated the 3rd party services into their software

Help and support:

  • FAQ section
  • Contact form

Personal information for activation account:

  • Email Address

Most common customer complaint:

Bitgo is not open source