BitGo

Introduction

Search for the most trusted and reliable bitcoin and the results will reflect BitGo. With the most high end security features, this wallet has become user’s favorite choice since its launch. It’s a wallet which is preferred mostly by financial organizations to store the bitcoins. What makes it so special? Let’s have a look on the features and specialties of this amazing bitcoin wallet!

What is BitGo?

BitGo is a bitcoin wallet which has impressed users with its security features, interactive design and modern interface. It is a multi-signature, multi-user and secure wallet which provides the top notch services other wallets fail to offer. The wallet was launched to help those businesses who regularly use bitcoins for transactions.  It is a personalized wallet which has ample of benefits for businesses and organizations using bitcoins!

BitGo wallet showing transaction history and balance info

Features

For financial organizations, BitGo works as a beneficial wallet as it eliminates 3 cumbersome issues companies face while using bitcoins. These issues are unsafe wallets, barriers regarding physical location and processing delay at the time of transactions.

Private blockchains

The blockchains in bitcoins are private and thus, BitGo can also create customized private blockchains for specific organizations. Depending on various rules and standards, the company may get a private blockchain which is completely easy to use.

Instant and quick transactions

The processing time for transactions is considered as a weak point for bitcoins. However, BitGo eliminates the possibility of this situation by letting companies allow the non confirmed transactions which will increase the speed and quickness of transactions. When it comes to security check on the transactions, the wallet runs its security check and security keys to allow a transaction to get completed! This way, security is maintained along with quick transactions.

Transactions made easy with simple UI

Multisignature wallet solution

This is one of the secure and safest ways of making transactions through a wallet. A multisignature not only allows the multiple users to use a single account but also provides safety features for making transactions.  Different users can access a single account as soon as permission is granted. This promotes sharing of funds among a group of people in a very hassle free way. Especially for organizations, this is one of the lucrative reasons to choose the BitGo wallet.

BitGo wallet multisignature feature

Here are some additional features of BitGo

• The transaction experience is above excellent for common users and also for organizations
• It is a nicely hosted trading platform where users can trade their bitcoins easily
• The transaction time is reduced and is lowest
• There are private keys to make transactions even secure

It is a theft proof platform which makes it reliable for small to large companies

Usability

BitGo was initially developed as a centralized platform where users were not the only ones to have access to their private keys. Later on, it developed on androids and iOS to allow users to gain complete control over their private keys and funds. BitGo is supported on:

• Mobile applications for iPhone
• Android applications
• Desktop for windows and linux

Design

When it comes to design, the other features of BitGo are quite reliable than the design. The design and user interface of BitGo are not excellent or extremely attractive for users. It has a very simple and effective user interface which users can easily understand and work with. The vast number of features does not make the design complicated but provides a simple look to the application!

Security

security is one of the strongest points of BitGo as it is considered as the safest bitcoin wallet in the market. The most important feature which is required by the users is safety and BitGo ensures safety in many ways.  The BitGo wallet is secured with multi level security options lie multi signature, authentication rights, different levels of access rights and much more!

Especially, when a wallet is designed for organizations, safety of account information and funds is needed which is provided by BitGo.

Also, BitGo supports 2 way authentication along with all these above given security options which makes it more reliable and secure! There’s no doubt it is highly appreciated and used by reputed financial organizations!

2 Way authentications for best security

Coins supported by Bitgo

BitGo was designed as a bitcoin wallet and is now used within multiple financial organizations as a safe and robust wallet for transactions

Pros

• With the private keys, the users and financial institutions get the control over their own funds
• Through limited and robust access, private keys and multilevel security options, the wallet provides a very safe environment for users to save their funds.
• Users can get all the basic privacy
• It can help organizations to get a private blockchain
• BitGo wallet allows instant and safe transactions
• It is a multi signature and multi user wallet which can be easily used by multiple users at a time in a secure environment
• Its use is more than just a wallet for storing and trading bitcoins. Its aim is to develop economy and improve financial solutions
• The encryption protocol P2SH is used which provides safest encryption

Cons

• One of the issues is the centralized verification which is time consuming and makes transactions dependent on a single server
• If you want to use BitGo, you have to pay for transactions using cards or cryptocurrencies
• If you are willing to get a blockchain, you have to invest a pretty amount in its development

Final verdict for BitGo

Going with the market trends, we too believe that BitGo is one of the safest and secure wallets for trading and making transactions of bitcoins. There are a lot of downfalls but the wallet also provides enough fair reasons to take some risks. If you are a bitcoin trader or are willing to use bitcoins as financial solution for your expenses as well for your firm, this is a multi user and multi benefit wallet which will simply make transactions more safe, reliable and flexible!