1 Level
5 Review
3 Karma
Review on Bitgo Wallet by Maciej Freliga
Bitgo the stunning review
If you are starting or running an exchange, going with Bitgo may be heavy on your expenses, but takes care of big security headaches.
We are a Cryptocurrency Exchange started in 2017, launched in April 2018. We are using Bitgo to support all our coins and they have played a significant role in our growth.
By using Bitgo we are able to support multiple coins without getting into the details and vulnerabilities of each coin. It is not exactly a plug and play solution, but still for a startup operating in Crypto space using Bitgo solution saves months of hard-work.
Pros
- We can be slightly more peaceful considering the fact that Bitgo is our partner and they are doing everything to keep the Assets safe.
- So if we perform our duty and ensure secure systems at our end, we can be sure that all our assets are protected twice. Setting velocity limits, ensure our losses are limited.
Cons
- Very Expensive. Especially in the bear market where exchanges are finding it difficult to survive and many popular exchanges closing, bitgo fees is a big burden for a growing exchange. Instead of charging a a % fee which increases linearly, it would be great if there are fee tiers. It is in Bitgo's advantage to ensure profitability of their clients.
- I appreciate that Bitgo has worked hard to launch multiple coins in the last one year and we also understand the technical limitations, but till more coins need to be supported.
