BitGo Wallet Review: Is BitGo A Good Wallet?
A digital asset trust company is BitGo. Through its wallet services, it permits the storing and exchange of digital assets ( cryptocurrency ). A multisig HD wallet with availability in more than 50 nations is the BitGo wallet. To reduce risk, the keys are shared among numerous owners. BitGo holds one, and the wallet owner has two.
The wallet has an easy-to-use design and is safe. Additionally, it provides a platform that permits the immediate exchange of digital assets at variable rates. The amount of traded assets will determine the rate.
Basic Information
In 2013, Ben Davenport and Mike Belshe co-founded BitGo. The company was established with the goal of establishing trust in digital assets. By offering secure and compliant solutions, it eliminates hazards. The BitGo wallet is utilized by numerous exchanges and investors worldwide.
Following the establishment of BitGo Trust Company, BitGo transformed into a financial services company in 2018. California's Palo Alto serves as the company's corporate headquarters. BitGo is backed by reputable investors like Goldman Sachs, DRW Ventures, Digital Currency Group, and Redpoint Ventures.
In reality, its trading platform handles more than 15 billion dollars each month. More than 100 digital assets and tokens are used in these transactions. BitGo focuses on providing security, custody, and liquidity solutions for institutional clients. However, people can also register for the “BitGo Pay As You Go” hot wallet.
Coins Supported by BitGo Wallet
Wallets cover more than 75% of the total value of the digital market. BitGo initially exclusively supported BTC. However, it now supports more than 100 digital items. This applies to all ERC20 tokens as well as Bitcoin, Ethereum, XRP, BCH, XLM, LTC, Dash, Zcash, and BTG.
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To find out which exchanges you can trade the aforementioned coins at, look at our list of cryptocurrency exchanges.
Wallet Fees on BitGo
Fees for transactions depend on the network. The wallet will assist you in choosing a fee that will quickly have your transaction confirmed.
BitGo offers varying fees based on the type of wallet service you utilize:
The purpose of BitGo Custody is to store assets for financial institutions. Through the web and an API, cold storage and hot wallet access is possible. The minimum account balance is $1,000,000 USD.
Business wallet: This wallet for transactions is multisignature safe. It permits the trading of more than 100 coins and tokens. The monthly minimum transaction volume is $1 million USD. Volume affects the fees.
BitGo Pay As You Go wallet: Popular among private users. It encourages trade only BTC, BCH, BTG, Bitcoin SV, LTC, Zcash, XLM, and Dash. 0.25% is charged per withdrawal and 1% for BTG and Bitcoin SV.
Cost of a BitGo Wallet
Utilizing the wallet is free. It is only accessible online. Smartphone owners can use supported browsers to access their wallet. This covers Internet Explorer, Firefox, and Google Chrome.