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Bitgo Review – Bitcoin Wallet Review
Before we go into Bitgo Review – let us understand Bitgo’s nature of business. The business specializes in providing secure wallet solutions to corporations and companies including several cryptocurrency exchanges.
Bitgo also concentrates on multi signature wallet options, which can be among the best security innovations Bitcoin users have observed thus far.
Knowing the business also gives a them a user friendly and better alternative; makes them stick out from their competition.
BitGo Review – About the Company
Bitgo as a company originally started out as a wallet service provider to the first crypto curreny, the Bitcoin.
That isn’t always a good thing, as a centered crypto-wallet means consumers aren’t the only ones using private keys.
The ever growing bitcoin business expanded their wallet to encourage mobile suppliers – Android and iOS too.
With the protected app – Bitgo users could store their wallet’s private key on the mobile devices itself.
The online version lets users export their personal key to a different wallet solution as well.
Regrettably Bitgo is not an open source solution and it is doubtful that will ever change.
To some people, this is a major drawback; whereas many others aren’t overly bothered about it.
On the upside, Bitgo supplies multi-signature options to all its users.
Furthermore, there is a choice to add even more safety to the internet based wallet in the form of two-factor authentication. With Google 2 Step Authenticator or some other.
Convenience and safety frequently don’t mix that well, but Bitgo reveals it could be carried out.
However it doesn’t provide users with total anonymity, but this is not something most individuals are looking for these days.
There are also no additional features to take advantage of, but that isn’t a deal breaker either.
Altcoin Wallet – Bitgo Ethereum Wallet
For any altcoin users like Ethereum, they have also developed an Ethereum wallet which uses the same Bitgo’s bitcoin wallet technology.
In fact, the Ethereum based wallet is built by most of the developers who are working on the Bitcoin wallet.
This project is referred to as Ether.li, also features all of the same aspects one can find in the Bitcoin wallet offered by Bitgo.
Even it offers a multi-signature solutions for Ethereum users, which will be valued by a few users.
Bringing this functionality to distinct cryptocurrencies is a smart strategy by Bitgo.
BitGo Review – Final Thoughts
Ultimately, it’s really hard to find any defects at the Bitgo wallet.
Utilizing the internet version means; private keys aren’t created in a secure fashion; even though users may protect them with a password.
All their mobile apps work like a charm, with no end user surprises.
Advanced crypto currency users who are not searching for any multi signature support may find the waeet a bit boring; but for new users, it is really a powerful alternative.
There’s not any reason not to provide Bitgo wallet a go.
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