If there is an exchange company for virtual currencies, there is also a security company. BitGo is a blockchain security company that can provide a safe software Bitcoin wallet. It was founded by Ben Davenport and Mike Belshe in 2013 and was known for its high-end multi-sig wallets.
What can BitGo offer?
The company also does services for crypto exchange platforms, such as Litecoin exchange and Bitcoin exchange, markets, and e-commerce users. It works well with exchanges such as Bitflex and ShapeShift, and this is the reason why you can easily do exchanges without leaving the wallet. It also provides a shared control over your funds wherein all transactions are confirmed by you and a third user. But, you can also have full control over your coins with your backup.
On the other hand, BitGo cannot send or freeze funds without your go signal. The company also promotes its instant transactions, spending limits, and multi-user access.
Besides all these, it can give you recovery solutions, zero confirmation, and blockchain privacy that offers new keys with every transaction to make sure those two transactions will not show at the same time. It also gives you a chance to create and use multi-sig wallets. Moreover, this company creates keychains that let you have a private key but with a lot of public keys. Secret keys are also available; one is with the server and the other to you to avoid theft.
Why choose BitGo?
Other than its perks, BitGo also makes sure to satisfy its customers. In 2015, the company bought an insurance policy to protect the accounts from theft. The same year, it allowed other Bitcoin companies to share keys with their customers as part of its recovery system.
It also lets its customers use BitGo’s data for business. Transaction memos and address labelling are also included.
What is a multi-signature wallet
Multi-sig wallets are the alternative to single-key addresses. This wallet allows you to share your key with a company or a fellow user. In order to access and use your account, you should have both keys. Hacking and stealing coins are impossible unless both keys are present. This is possible since multi-sig wallets have a signature algorithm to make sure no one can access it easily except for those who have the keys.
Overall, BitGo aims to create the world’s most secured wallet. It also makes sure that you can trust it with your account along with your coins. It continues to improve its features and add more upgrades to attract more users and give the needs of its customers.
